Job Description

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title Senior Manager Pricing



Senior Manager Pricing, Home Equity Financing



What is the opportunity?

RBC Home Equity Financing is the leading lender of residential mortgages in Canada and RBC's single largest business with over $373 Billion in assets. The business has grown significantly over the last 5+ years and the market for pricing of RBC mortgage products has become increasingly competitive and complex. To maintain our leadership position for the next 5 years will require a strong commitment to pricing innovation for client acquisition and client retention activities. The Home Equity Financing Pricing team is key to ensuring strong profitable growth of the HEF portfolio by setting pricing strategy for all mortgages and secured lines of credit, executing pricing changes, and supporting the sales force through the decisioning of all Home Equity pricing exception requests. The mortgage market is quickly changing in response to competitive and regulatory pressures, as well as shifting client expectations. To support our partners in achieving premium market growth, we must respond by evolving our pricing strategies and by ensuring we have a strong, collaborative relationship with our Sales Partners. The team is also responsible in decisioning pricing exception requests for personal loans products.

The Senior Manager, Pricing, Home Equity Finance is responsible for managing pricing exceptions escalated by Senior Sales Leaders across Canada. The role is critical in supporting our Sales partners to win in the market while ensuring that revenue targets are met. The Senior Manager also act as second-in-command within the pricing exception team, assisting the Director with the day to day activities and execution of our pricing strategies.

The role requires seasoned negotiation skills and a deep understanding of the Home Equity Finance business and our financial models. Strong communication skills and a bias toward customer satisfaction are critical in this role in order to build a strong and trusted relationship with sales force leaders and executives.

What will you do?

• Decision pricing exceptions escalated by Senior Sales Leaders across Canada, balancing market growth and profitability.
• Interact regularly with Senior Sales Leaders to discuss specific transactions, to gain an understanding of their market, to address concerns, and to build strong collaborative relationships.
• Assist the Director, Pricing Strategies with the day to day management of the team. The Senior Manager will act as second-in-command within the Pricing Exception team. This includes providing pricing guidance to the team, cascading down pricing strategies established by Senior Leadership, and offering second level review on more complex transactions.
• The Senior Manager may act as liaison with our IT partners to ensure successful deployment of initiatives and system fixes and / or ensuring that our pricing systems (PEAT) remain accessible to the sales force at all time.
• Provide coaching to sales partners on developing strong business cases for pricing exception requests and on procedures around pricing and rate negotiation. This includes regular presentations to sales teams (remotely & in person)
• Gather competitive intelligence through regular communication with Sales Managers and RVPs and through market mystery shops
• Provide competitive insights to HEF and Sales executives that will drive pricing decisions and will support sales teams to win in the market

What do you need to succeed?

Must-have:

• Experience and advanced knowledge of the mortgage market in Canada
• Knowledge of the mortgage sales process and sales force behaviour
• Demonstrated negotiation skills
• Experience with pricing and/or profitability models
• University Level degree

Nice to have:

• Strong financial and business acumen
• Advanced impact and influence abilities
• Customer Service orientation
• Analytical thinking
• Strong written and verbal communication skills
• Fluency in French is an asset.

What's in it for you? (Standard)

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Hybrid work environment (following current HEF/PFP in-office requirement)

Job Summary

Address: TORONTO, Ontario, Canada

City: CAN-ON-TORONTO

Country: Canada

Work hours/week: 37.5

Employment Type: Full time

Platform: Personal and Commercial Banking

Job Type: Regular

Pay Type: Salaried

Posted Date: 2022-10-25-07:00

Application Deadline: 2022-11-07-08:00

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.