Address
Form of workJob Summary
Job Description
What is the Opportunity?
Assist with leading the Regulatory Reporting function for the RBC Intermediate Holding Company including production and Regulatory Reporting automation initiatives. Role includes but is not limited to the documentation of key processes, procedures, governance, and controls related to the preparation of core Federal Reserve report filings. Also ensuring compliance of FRB reporting instructions across the RBC enterprise reporting platform. Collaborate with Legal Entity Controllers (LECs) on Regulatory Reporting impact assessments due to new business product offerings and changes to US GAAP & IFRS accounting principles. Perform assessment of control procedures against documented standards.
What will you do?
- Support governance and control requirements related to various regulatory reports.
- Interface with exam teams and internal audit to facilitate their understanding of reporting processes.
- Oversee and comment on Regulatory Reporting impacts and implications on the new products and accounting rules provided by financial control.
- Support the analysis and submission of reports to Federal Reserve Bank based on requirements such as US GAAP and US Regulatory Reporting.
- Perform analysis of financial results and conclude cause of variances such as accounting issues and economic events.
- Produce metrics to senior management highlighting key issues and remediation status and maintain and enhance related operational and analytical procedures.
- Assist in the development of process efficiencies and improvement efforts as well as data quality improvement projects.
- Interpret policies, guidelines, and processes and resolve complex problems and transactions.
- Assist with the management of one or more processes, reports, procedures, or products.
- Acts as SME to senior stakeholders and /or other team members, including USDS initiatives.
- Partner with the Legal Entity Control, Finance IT, Risk Control, USDS, Legal, SGO and Product Control to improve the overall processes, automation and Regulatory Reporting work streams.
- Oversees the preparation and review of various regulatory reports (FFIEC 009, FR Y-15, FR Y-9C, FR Y-11, FR 2314, FR Y-9LP, etc.).
- Further develop the necessary technical skills required within Federal Reserve BankRegulatory Reporting, US GAAP, and product knowledge.
- Supervise and develop new team members.
- Support various project team by providing data and report requirements as subject matter expert.
- Data testing – support ongoing review of data completeness and accuracy using the data models provided by USDS (Core data).
- Support the ongoing transition of current state to strategic state based on report prioritization (FR Y- 9C, FR Y-15, FR Y-11 etc.) by partnering with USDS, IT and other groups.
- Data management – support product level CDE identification, support USDS with design of DQ rules and other key controls like RCSAs, reporting procedures, Data linage requirements.
- Assist in ensuring transparency and controls around manual reporting adjustments.
- Support and participate in Regulatory Reporting examinations, internal audit, data office and risk control testing.
- Keeping abreast of regulatory and accounting changes that are impacting the IHC regulatory reports.
- Ensure accurate and timely submission of IHC regulatory reports.
- Continue to improve the Regulatory Reporting process and enhance control.
- Oversee manual data adjustments, identify or raise automation initiatives and report progress to management.
- Present due diligence decks to senior management (including CFO) and the FRB.
What do you need to succeed?
- Bachelor’s degree (preferred Accounting or Finance)
- 6 - 9 years in a similar role at financial institution in a capital markets environment.
- Strong knowledge of Federal Reserve Foreign Banking Organizations Enhanced Prudential
- Supervision - Intermediate Holding Company (IHC/BHC) Regulatory Reporting Requirements
- Strong knowledge Regulatory Reporting software systems (i,e. AXIOM)
- Ability to develop & manage relationships with regulators
- Strong leadership skills
- Strong oral & written communication skills
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, commissions, and stock where applicable
- 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
- Opportunities to building close relationships with clients
The good-faith expected salary range for the above position is $110,000 - $185,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.
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 sustainable shareholder returns and above market shareholder value
Job Skills
Audits Compliance, Critical Thinking, Detail-Oriented, Financial Analysis and Reporting, Industry Knowledge, Internal Controls, Knowledge OrganizationAdditional Job Details
Address:
City:
Country:
Work hours/week:
Employment Type:
Platform:
Job Type:
Pay Type:
Posted Date:
Application Deadline:
Inclusion 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.
