Job Description
What is the opportunity? The Associate Director, Model Development and Implementation is responsible for the conceptual design, development, implementation, documentation and maintenance of models used to measure market risk within the bank's risk management frameworks.
This includes ensuring that the model's underlying methodologies are appropriate and that they are implemented with integrity so that they accurately measure RBC’s risks.
You would also be responsible for developing the risk library related to market risk with applications to both strategic initiatives and Business As Usual (BAU) risk management. What will you do?
- Conduct research, review regulatory requirements and consult with industry stakeholders to evaluate best practices for modeling, and develop market risk methodologies.
- Become proficient with key risk features of the products and risk factor identification process in the trading portfolio
- Develop, maintain and integrate risk model libraries with the overall enterprise architecture to provide end to end solutions.
- Work with risk and technology partners to productionize risk methodology implementations by adopting industrial standard and strategic architecture.
- Document model methodologies, implementation details and testing results, and work with internal validation to facilitate their approval of the models.
- Develop tools to assess and monitor model performance, and benchmark against alternative models
- Maintain existing market risk models by conducting exercises include but not limited to regular model recalibrations, and assumption re-assessment.
- Study and apply the distributed computation with focus on big data framework
- Initiate independent research projects to explore better tools and practice to gain efficiency
What do you need to succeed? Must-have
- 2+ years of working experience in regulatory & internal risk management requirements under market risk, CCAR or counterparty credit risk.
- Broad capital markets product knowledge across various asset classes.
- Strong analytical and problem solving skills
- Strong Python development skills with focus on finance use cases
- Data management and analysis skills (SQL and Excel required)
- Ability to work collaboratively to achieve team goals
- Agility to adapt to changing circumstances in a dynamic environment
- Masters in Financial, Engineering, Statistics or equivalent. PhD in Finance, Engineering or Applied Sciences
- Above average oral and written presentation skills : ability to present clearly complicated modelling concepts and techniques to senior management
Nice-to-have
Experience with PySpark or other similar distributed computing concepts
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 and 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
Job Skills Competitive Markets, Consulting, Critical Thinking, Data Analytics, Financial Instruments, Financial Regulation, Investment Risk Management, Long Term Planning, PySpark, Python (Programming Language), Quantitative Methods, Quantitative Models, Quantitative Risk Management, Risk Management Additional Job Details
Address :
ROYAL BANK PLAZA, 200 BAY ST : TORONTO
City : TORONTO
TORONTO
Country : Canada
Canada
Work hours / week : 37.5
37.5
Employment Type : Full time
Full time
Platform :
GROUP RISK MANAGEMENT
Job Type : Regular
Regular
Pay Type : Salaried
Salaried
Posted Date : 2024-05-27
2024-05-27
Application Deadline :
2024-06-08
I nclusion 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.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
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 jobs.rbc.com.
Associate Director, GTB and Small Business
The individual will develop a solid understanding of GTB and Small Business strategies and, with this knowledge, assist in providing guidance to the Managing Director, GTB and Small Business Treasury on liquidity and funding risk mitigation and optimization. Support the Managing Director, GTB and S...
Associate Director, Financial and Regulatory Reporting
Reporting to the Director, Financial and Regulatory Reporting, the opportunity is an Associate Director role within the Financial and Regulatory Reporting team primarily responsible for the financial reporting and regulatory reporting to a Regulatory Organization for certain legal entities within th...
Senior Director, Business Development - Mining, Metals, and Minerals
Responsible for development and management of sales pursuits/relationships and strategic development of accounts. Lead pricing strategy development and pricing reviews, develops bid and proposal estimates and manages proposal budgets. Extensive business development experience in the mineral mining s...
Associate Director - Risk & Controls Group
Develop robust and scalable testing modules, scripts, and other guides including testing approach and scoping/sampling for evaluating the effectiveness of Key Controls to mitigate key risk exposures related to regulatory requirements and RBC risk policies and standards. Participate in the efforts to...
Director of Business Development Campus and Universities (70312475)
Director of Business Development you will support the Campus, Universities and private school segment in targeted account development for Food and Facilities Management services in key sectors to help grow new business revenue. We require that all new hires in hospitals, long term care facilit...
Senior Associate, Quantitative Market Risk Models - Financial Engineering & Modeling
You will also be able to learn and work in other quantitative and analytical areas such as credit modeling, forecasting and stress testing, customer behavior modeling, and new innovations such as Machine Learning and Artificial Intelligence. Would you like to further develop your career with our exp...
Director of Data Platforms responsible for the strategic direction, development, and management of data systems and ensuring AI readiness, supporting Open Banking initiatives, and leveraging Microsoft technologies. - DIREC005346
Director of Data Platforms responsible for the strategic direction, development, and management of data systems and ensuring AI readiness, supporting Open Banking initiatives, and leveraging Microsoft technologies. Identify and implement modern data technologies and tools to improve the team's effic...
Manager, Model Development - Retail and Small Business (Contract)
Working with internal customers (stakeholders) across the bank to understand and translate their needs into outcomes, exploring both novel and legacy data sets and methodologies, collaborating with technology partners to get things implemented flawlessly, and monitoring, tuning up (when necessary), ...
Associate Director - Risk Identification and CCAR
RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:· Drives RBC’s high performance culture· Enables collective achievement of our strategic goals· Generates sustainab...
Associate Director, Credit Provisioning Analysis & Measurement
The Credit Provisioning Analysis and Measurement (CPAM) team provides senior management with subject matter expertise, guidance and analysis for determining the allowances for credit losses (ACL) and provisions for credit losses (PCL) for the Bank's performing assets. The creation of leading analyti...