Job Description

What is the opportunity?

The Model Risk Governance Reporting team is primarily responsible for developing and maintaining robust model risk policies and control procedures to ensure effective management of model risk across the organization. The team plays a critical role in generating comprehensive model risk compliance reports tailored to the needs of various stakeholders, including senior management, business lines, and regulatory bodies.

As part of the second line of defense, the team provides independent oversight of the bank’s model risk management practices. This includes monitoring adherence to internal policies and regulatory requirements, identifying potential areas of non-compliance, and recommending corrective actions as needed. The team also collaborates closely with the first line of defense to promote a strong risk culture and ensure that model risk is appropriately managed throughout the model lifecycle.

What will you do?

• Provide timely, accurate, and complete model risk reporting and analysis, owning the end-to-end processes that facilitate this reporting stream
• Analyze the dynamic global enterprise model risk management model inventory system
• Performs quality execution of the Model Risk Management workflow and reporting tool
• Maintain all processes and procedure documents supporting the controlled administration of RBC’s Global Model Inventory
• Interact with all necessary stakeholders by coordinating deliverables, facilitating interactions through regular reporting, meetings, and managing project closure initiatives
• Supports Enterprise Model Inventory System Development Lifecycle (SDLC) planning and implementation
• Understand, analyze, and communicate the drivers and trends for RBC (and key sub-legal entities within RBC) and provide context with respect to changes in the model risk profile of the business
• Perform daily data verification and reconciliation between MAVRICK API and in-house MAVRICK database
• Maintain a thorough understanding of the methodologies used for model risk management and challenge existing logics and processes with active initiatives
• Generate trends and reports on a monthly and quarterly basis for senior management and operating committees and communicate key/material changes to all stakeholders.
• Participate in other ad hoc analyses and projects around RBC’s model risk management framework, including resolving internal audit findings, addressing MRIAs, recalibrating internal thresholds, and establishing new reports
• Perform timely tracking on out-of-compliance models and actively follow up with upstream stakeholders to resolve out-of-compliance issues
• Enhance existing Model Risk Reports by leveraging Python, SQL, and data visualization tools such as Tableau and Power BI, with the goal of improving operating efficiency, data completeness, and accuracy

What do you need to succeed?

Must-have

• 5+ years of experience in Model Risk or similar risk management related roles
• MBA, MA or MS or equivalent with emphasis in math, finance, economics or a quantitative discipline
• Expert in SQL database, MS Excel VBA, PowerPoint, Tableau and other similar database programs or tools
• Strong verbal and written communication skills.
• Strong analytical skills and knowledge of programming languages, preferably Python

**Nice-to-have **

• CFA, FRM or other related professional qualifications
• Good understanding of model, non-model framework and their associated Model Risk frameworks
• Knowledge of model risk management framework such as KPI and RAM within the Model Risk Management industry

What’s in it for you?

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.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Flexible work/life balance options