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Job Description
What is the opportunity?
Global Risk Analytics (GRA) group is the center of expertise for risk analytics in market, counterparty credit and climate risks. It develops, and maintains risk models to support business growth in RBC. It also interacts with regulators such as OSFI in Canada, Fed in US, and PRA in UK to ensure regulatory compliance.
A Data Science summer intern at GRA, with a dedicated focus on climate analytics, plays a pivotal role in advancing the RBC's commitment to climate sustainability and its contribution to RBC's broader climate strategy. The primary objective of this intern is to leverage Data Science technology to enhance climate analytics capabilities. Climate analytics are crucial in quantifying the impact of climate change on financial portfolios.
This role will support to build climate analytics capabilities for physical risk, including but not limited to
- Understand industry-accepted climate scenarios, such as those from NGFS and IPCC.
- Leverage open-source data and tools to estimate the impact of climate physical risk (e.g., wildfire, hurricane) under various future scenarios.
- Develop the estimation methodology and submit it for independent validation.
GRA is seeking an individual who is interested in applying Data Science analytics and programming skills to empower our climate risk analytics capability. The intern student will be involved in researching open-source data platforms for Climate risk, and developing Python-based tools for Climate risk related analytics. The candidate will learn data analytics with applications in climate risk .
What will you do?
- Understand climate scenarios from NGFS and IPCC
- Leverage open-source data and analytics platforms, such as Climada for physical risk.
- Assist to design and implement Python-based tools for Climate risk related applications.
- Make presentation to senior people in risk
What do you need to succeed?
Must-have
- Strong Data Science training in academia
- Programming experience in Python and SQL.
- Knowledge about data analytics and visualization
- Ability to communicate technical matters in written and oral forms
- Team players to collaborate and innovate
Nice-to-have
- Interest in learning about emerging data and techniques to assess climate risk impact.
- Understand of the big picture regarding how risk function works in banks
- Knowledge of financial products in trading book and banking book.
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.
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work and make a difference
- Opportunities to building close relationships
Please note: This posting is for a 4-months Summer 2024 Student placement with a start date of May 2024, and end date of August 2024. In order to be eligible for this 4-months Student position, you must either:
- Be returning back to school after the work term end-date of August 2024 ; or
- If you are not returning back to school (i.e. are graduating in August 2024), you must require the full 4-months work term as a mandatory component to in order to graduate successfully.
Please ensure that you meet these eligibility requirements before applying - candidates who apply but are found to be ineligible are not able to be considered.
We encourage you to apply as soon as possible as we accept applications on a rolling basis, but please note that the formal application deadline is February 2, 2024. Should you be selected to progress, someone from our team will reach out directly to provide instructions on next steps. Otherwise, feel free to check for progress updates by logging in to your RBC profile. If the status has not changed, it denotes the fact that your application is still under review.
RBC is committed to supporting flexible work arrangements when and where available. The successful candidate for this role will be required to be located within Ontario for the duration of the work term. Details regarding the specific virtual, hybrid, and in-office arrangements for this Integrated Learning/ Co-op position are to be discussed with the Hiring Manager.
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