Associate Director, Enterprise Model Risk Management
Top Benefits
About the role
**Job Description
What is your opportunity?
You will work in close proximity with model stakeholders in order to vet and validate mathematical/statistical models used by RBC, mainly (but not exclusively) focusing on models related to Credit Risk (PD/LGD/EAD/etc.) for IFRS 9 and EWST. You will act as a trusted advisor and effective challenger to model developers and users on all matters pertaining to credit risk modeling requirements. You will also ensure EMRM has proper understanding and documentation of the models’ business purpose and context and will facilitate RBC compliance with regulatory policies, guidelines, and procedures on model risk.
What will you do?
- Engage model builders and related function groups personnel as necessary in order to proactively assess, document, and independently validate mathematical/statistical models and their usage by the bank.
- Perform effective challenge of model inputs, methodology, and implementation. Independently build replication/benchmarking models.
- Acquire and maintain a thorough understanding of the flow and context of model usage by the business.
- Ensure that model users adhere to RBC model risk policy.
**
What do you need to succeed?
Must-have
- Graduate degree in a quantitative discipline such as physics, math, engineering, computer science, statistics, finance or financial engineering. Strong academic and research background may also count towards work experience.
- At least 3 years of work experience in mathematical/statistical modeling, preferably at a large financial institution, in a similar or related role such as a model developer/validator, a front office quant, a risk quant, or a risk manager.
- Proficient in model development in SAS and Python
- Broad exposure to and excellent knowledge of a wide range of financial models and model validation/testing techniques.
- Exceptional analytical, statistical, computational and critical thinking skills
- Good familiarity with financial regulatory requirements and guidelines, such as IFRS 9 and EWST.
Nice-to-have
- Strong verbal and written communication and interpersonal skills.
- Ability to learn quickly and to independently conduct research on best practices in new and unfamiliar modeling areas.
What’s in it for you?
We thrive on the challenge to be our best, thinking progressively 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.
- A comprehensive Total Rewards Program including bonuses and flexible benefits
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in an agile, collaborative, progressive, and high-performing team
- The opportunity to interface with executives from many different parts of the organization
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at www.rbc.com/community-social-impact.
La Banque Royale du Canada est une institution financière mondiale définie par sa raison d'être, guidée par des principes et orientée vers l'excellence en matière de rendement. Notre succès est attribuable aux quelque 94 000+ employés qui mettent à profit leur créativité et leur savoir faire pour concrétiser notre vision, nos valeurs et notre stratégie afin que nous puissions contribuer à la prospérité de nos clients et au dynamisme des collectivités. Selon la capitalisation boursière, nous sommes la plus importante banque du Canada et l'une des plus grandes banques du monde. Nous avons adopté un modèle d'affaires diversifié axé sur l'innovation et l'offre d'expériences exceptionnelles à nos plus de 17 millions de clients au Canada, aux États Unis et dans 27 autres pays. Pour en savoir plus, visitez le site rbc.com/francais
Nous sommes fiers d'appuyer une grande diversité d'initiatives communautaires par des dons, des investissements dans la collectivité et le travail bénévole de nos employés. Pour de plus amples renseignements, visitez le site www.rbc.com/collectivite-impact-social.
Associate Director, Enterprise Model Risk Management
Top Benefits
About the role
**Job Description
What is your opportunity?
You will work in close proximity with model stakeholders in order to vet and validate mathematical/statistical models used by RBC, mainly (but not exclusively) focusing on models related to Credit Risk (PD/LGD/EAD/etc.) for IFRS 9 and EWST. You will act as a trusted advisor and effective challenger to model developers and users on all matters pertaining to credit risk modeling requirements. You will also ensure EMRM has proper understanding and documentation of the models’ business purpose and context and will facilitate RBC compliance with regulatory policies, guidelines, and procedures on model risk.
What will you do?
- Engage model builders and related function groups personnel as necessary in order to proactively assess, document, and independently validate mathematical/statistical models and their usage by the bank.
- Perform effective challenge of model inputs, methodology, and implementation. Independently build replication/benchmarking models.
- Acquire and maintain a thorough understanding of the flow and context of model usage by the business.
- Ensure that model users adhere to RBC model risk policy.
**
What do you need to succeed?
Must-have
- Graduate degree in a quantitative discipline such as physics, math, engineering, computer science, statistics, finance or financial engineering. Strong academic and research background may also count towards work experience.
- At least 3 years of work experience in mathematical/statistical modeling, preferably at a large financial institution, in a similar or related role such as a model developer/validator, a front office quant, a risk quant, or a risk manager.
- Proficient in model development in SAS and Python
- Broad exposure to and excellent knowledge of a wide range of financial models and model validation/testing techniques.
- Exceptional analytical, statistical, computational and critical thinking skills
- Good familiarity with financial regulatory requirements and guidelines, such as IFRS 9 and EWST.
Nice-to-have
- Strong verbal and written communication and interpersonal skills.
- Ability to learn quickly and to independently conduct research on best practices in new and unfamiliar modeling areas.
What’s in it for you?
We thrive on the challenge to be our best, thinking progressively 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.
- A comprehensive Total Rewards Program including bonuses and flexible benefits
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in an agile, collaborative, progressive, and high-performing team
- The opportunity to interface with executives from many different parts of the organization
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at www.rbc.com/community-social-impact.
La Banque Royale du Canada est une institution financière mondiale définie par sa raison d'être, guidée par des principes et orientée vers l'excellence en matière de rendement. Notre succès est attribuable aux quelque 94 000+ employés qui mettent à profit leur créativité et leur savoir faire pour concrétiser notre vision, nos valeurs et notre stratégie afin que nous puissions contribuer à la prospérité de nos clients et au dynamisme des collectivités. Selon la capitalisation boursière, nous sommes la plus importante banque du Canada et l'une des plus grandes banques du monde. Nous avons adopté un modèle d'affaires diversifié axé sur l'innovation et l'offre d'expériences exceptionnelles à nos plus de 17 millions de clients au Canada, aux États Unis et dans 27 autres pays. Pour en savoir plus, visitez le site rbc.com/francais
Nous sommes fiers d'appuyer une grande diversité d'initiatives communautaires par des dons, des investissements dans la collectivité et le travail bénévole de nos employés. Pour de plus amples renseignements, visitez le site www.rbc.com/collectivite-impact-social.