Associate Operational Risk

What is the opportunity?

As a member of the Capital Markets (CM) Operational Risk Controls & Governance (ORC&G) group, you will contribute to the maintenance of an effective Operational Risk management program within CM

What will you do?

• Operational Risk Program support:
  • Support Chief Operating Officer (COO) and other CM businesses in the capture, analysis and reporting of Operational Risk Events (OREs) within Archer, per Standing Order requirements;
  • Conduct trigger-based business risk and control assessments to analyze end-to-end root cause and control/process gaps, and working with stakeholders (Front Office, Operations, CM IT and Functional units) to identify appropriate action plans to address control/process gaps;
  • Provide supporting analysis of the design of CM-wide tools that assist the 1st line of Defence in managing and mitigating Operational Risk; and ensure alignment and consistency in the regional execution of Operational Risk tools, processes and practices with the global ORC&G approach;
  • Keep abreast of other programs in CM and across the enterprise which can be leveraged to minimize duplication and the impact to the assessed units;
  • Provide support for training and awareness programs to ensure there is clear understanding of the importance of internal control management across the business and functions including clear communication of expected conduct, behaviours and roles and responsibilities;
  • Support the Vice President, Director and Managing Director ORC&G in establishing CM specific procedures to support effective program execution, conclusion and usage in accordance with enterprise-wide requirements.
• Reporting:
  • Responsible for the development, production of monthly and quarterly Operational Risk reporting with trend analysis and commentaries with business insights to support Regional, Legal Entities, and Line of Business governance reporting requirements;
  • Accountable for the Capital Markets operation governance and reporting processes (e.g., Mandatory Absences, KRIs, Third Party Risk), liaise with business stakeholders and ensure compliance with the GRM global Operational Risk standard and framework requirements;
  • Document and communicate business/technical requirements, manage the pipeline of enhancements, and providing supporting information as required for maintenance;
  • Support the design, analysis, documentation and implementation of CM report automation or process improvement, and provide a holistic, value-added Operational Risk profile across Capital Markets and the Lines of Business.
• Control Assessment:
  • In accordance with the RBC Internal Controls Management Policy (ICMP) and Regulatory Compliance Management (RCM) Program, provide guidance to control owners on effective control assurance activities, including supervisory controls;
  • Act as a conduit between Control Owners, and the RCSA Program in order to deliver appropriate communication around Control Assurance in support of the Operational Risk profile;
  • Working closely with the RCSA Facilitation teams, ensure reporting of control monitoring is reflected appropriately in residual risk assessments aligned to business areas; 
  • Provide guidance to CM control owners on control documentation standards, in accordance with the ICMP and RCM Program.
• Change Management:
  • Support the Vice President, Director and Managing Director ORC&G through participation in projects to review and implement new enterprise policies that impact Capital Markets in North America which may include assisting in the establishment of procedures/guidelines, liaising with internal and/or external parties to understand requirements and define parameters;
  • Liaise with the appropriate Centre of Governance (CoG) groups to provide input into the development of new/changed enterprise policies, clarify proposed requirements in order to initiate discussions with the in-scope business units to assess the impact on the CM business processes and controls.

What you need to succeed?

• Bachelor’s degree in Computer Science, Business Administration or Finance preferred
• Strong analytical skill and experience using business analysis and database querying tools
• Strong presentation, communication (verbal and written), and interpersonal skills
• Good knowledge of Operational Risk management industry best practices for Capital Markets products
• Good knowledge of trading, lending and investment banking businesses with particular emphasis on the control environment as it relates to Front Office, Operations, financial and management reporting, and market/credit risk and compliance monitoring
• Ability to handle multiple tasks/priorities
• General IT awareness
• Ability to work independently and without immediate supervision
• Previous FO, functions and/or Audit or Risk Management experience is an asset

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

Job Skills

Business Process Design, Decision Making, Financial Risk Management (FRM), Operational Risks, Risk Control, Risk Management, Teamwork

Additional Job Details

ROYAL BANK PLAZA, 200 BAY ST:TORONTOTORONTOCanada37.5Full timeCapital MarketsRegularSalaried2024-01-082024-01-23