Associate Director, Credit & Stress Testing Governance & Controls

Job Summary

The Associate Director, STCAM Governance & Controls reports to the Director, STCAM Governance & Controls. You will apply your business knowledge, project management and controls experience within financial reporting or risk management to work closely in support numerous stakeholders and Senior Directors across the Stress Testing and Credit Analysis and Measurement (STCAM) team.

You will be responsible to provide ongoing control and governance thought leadership and support for programs related to credit provisioning (IFRS 9 and CECL), stress testing (ICAAP and CCAR) and / or enterprise-wide stress testing (EWST).

Job Description

What is the opportunity?

The Associate Director, STCAM Governance & Controls reports to the Director, STCAM Governance & Controls. You will apply your business knowledge, project management and controls experience within financial reporting or risk management to work closely in support numerous stakeholders and Senior Directors across the Stress Testing and Credit Analysis and Measurement (STCAM) team.

You will be responsible to provide ongoing control and governance thought leadership and support for programs related to credit provisioning (IFRS 9 and CECL), stress testing (ICAAP and CCAR) and / or enterprise-wide stress testing (EWST).

What will you do?

Provide subject matter expertise in the identification, design and management of internal controls associated with processes managed by STCAM (covering the department's Enterprise Stress Testing, Internal Capital Adequacy Assessment Process, Recovery and Resolution Planning, Enterprise Risk Appetite, and Strategic Risk Planning responsibilities).

This includes providing risk and control leadership over processes such as system infrastructure and development, information and data management, processing and execution, as well as the overall governance framework related to credit and stress testing.

Provide an independent assessment of key controls, making recommendations on the sufficiency and appropriateness of the controls and evidence packages in relation to what risks are being addressed.

Actively seek to simplify and streamline processes and key controls to improve agility and effectiveness of underlying activities for BAU programs such as IFRS 9 and CECL

Provide direct support to provisioning and stress testing teams and stakeholder groups (e.g. finance, IT, corporate treasury and other risk teams) to actively assess, develop and implement controls to meet internal (e.

g. RBC's Internal Controls Management Policy) and external (e.g. SOX, regulatory) control requirements. This will include : Coordinate with subject matter experts such key business and operations leads and testing specialists to ensure controls are implemented and operating effectively.

Ensure that responses to auditors, regulators and other relevant stakeholders and integrated and well-coordinated across the Enterprise workstreams as well as within the IFRS 9 workstream.

This includes monitoring and tracking progress to ensure that appropriate information and deliverables are provided on a timely basis.

Review and recommend controls and corrective actions / remediation approaches to address self-identified, regulatory or audit findings or significant control / governance gapsIdentify and effectively escalate potential issues to the Director / Senior Director with appropriate recommendation(s) to resolve the identified issue.

Support the periodic status reporting on progress against control and governance initiatives / issues, including self-identified, operational risk, audit and regulatory issues impacting STCAM.

Program management including planning, scheduling and tracking of critical STCAM projects and other team initiatives. Coordinate team efforts surrounding key deliverables and project timelines and manage conflicting priorities across the Stress Testing and Credit Impairment processes.

Develop tools and Enterprise approaches to assist the STCAM team with ensuring that there is a strong controls and governance framework including around : Process and controls documentationIssue trackingPrioritize and facilitate responses to queries and ad hoc requests coming from internal and external stakeholders

What do you need to succeed?

Must have

7+ years in risk or financial management and oversight / governance, preferably with a strong demonstrated understanding of controls and governance within a regulated financial institution.

Experience working with regulatory requirements and best practices related to SOX, regulatory controls, internal audit and / or other governance and control frameworks.

Well-developed (demonstrated) relationship competencies with the ability to work cross-enterprise to drive initiatives forward.

Experience managing, organizing, and tracking control and governance issues and responses, including project management to effectively manage milestones, and status reporting.

• Ability to quickly grasp new concepts, especially in the field of risk management, provisioning and / or stress testing (e.g. IFRS 9, CECL).
• Highly collaborative with strong communication and interpersonal skills, critical thinking, keen attention to detail and ability to navigate complex regulatory frameworks.
• Excellent written and verbal communication skills demonstrated through clear articulation of relevant risks and mitigating controls.
• Precision in execution and delivery through effective organization and time management skills.

Nice-to-have

Cross-functional capability, with good business, risk, and regulatory requirement knowledge in more than one of the following risk areas : IT risk, market or trading risk, credit risk, structural interest rate risk, and liquidity risk.

Strong knowledge of best practices regarding Operational Risk practices in a financial institution

Conceptual thinker with a curious mind to challenge and question the status quo and the ability to creatively apply Operational Risk Management Frameworks and Standards.

Proven experience with reviewing, and challenging proposed corrective actions, ensuring control and governance issues are addressed in a timely manner.

PMP and / or PgMP certification

What is in it for you?

We thrive on the challenge to be our best, progressive thinking, to keep growing, and working together to build and deliver trusted reporting to help our stakeholders succeed 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
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to take on progressively greater accountabilities

Job Skills

Business Performance Management, Investment Banking Analysis, Investment Economics, Investment Management Systems, Investment Performance Measurement, Investment Risk, Investment Risk Management, Market Risk, Operational Risks, Performance Management (PM), Quality Management, Risk Management, Standard Operating Procedure (SOP)