Director, Credit & Stress Testing Implementation Assurance

The Director, Credit & Stress Testing Implementation Assurance reports to the Senior Director, Stress Testing & Credit Controls and Integrity. You will apply your business knowledge and provide constructive challenge within credit risk management to work closely and support numerous stakeholders and Senior Directors across both the Stress Testing and Credit Analysis and Measurement (STCAM) team.
You will be responsible to provide review and ongoing support by overseeing staff that is responsible for documentation, and post-implementation testing of the ECL production process, used in the measurement of Expected Credit Loss, Provision for Credit Losses, Allowance for Loan and Lease Losses, and Stress Testing.

What is the opportunity?

The Director, Credit & Stress Testing Implementation Assurance reports to the Senior Director, Stress Testing & Credit Controls and Integrity. You will apply your business knowledge and provide constructive challenge within credit risk management to work closely and support numerous stakeholders and Senior Directors across both the Stress Testing and Credit Analysis and Measurement (STCAM) team.

You will be responsible to provide review and ongoing support by overseeing staff that is responsible for documentation, and post-implementation testing of the ECL production process, used in the measurement of Expected Credit Loss, Provision for Credit Losses, Allowance for Loan and Lease Losses, and Stress Testing.

What will you do?

• Provide effective leadership of the IAT (Implementation Assurance Testing) team, to ensure that a strong controls and governance framework is maintained over IAT processes. This will include, but is not limited to, ensuring that the team appropriately prioritizes deliverables through strong understanding of life cycle of each module (EWST, ICAAP, CCAR, IFRS9, and CECL), as well as determining the scope of testing procedures that should be conducted.

• Ability to review and provide feedback on detailed documentation and provide challenge to the procedures conducted by the team.

• Through technical writing and clear communication, present quantitative and qualitative materials, concisely and accurately, to key stakeholders. This will include ensuring that technical and non-technical stakeholders have a clear understanding of critical credit risk measurement issues, the approach applied to developing, validating and deploying credit risk models as well as the key business implications to consider with respect to core deliverables.

• Enable the development of effective an IFRS 9 / CECL and credit portfolio Stress Testing measurement platform, ensuring compliance with applicable IFRS and US GAAP accounting standards as well as Canadian, US and other relevant regulatory and capital requirements. This will enable the team to support the execution of credit provisioning and regulatory stress tests with a specific focus on results analysis, validation, and communication.

• Produce independent output and accountable for material output of the IAT team, beyond individual contribution:
  • Accountable for providing assurance on results of the ECL production team through conducting independent testing;
  • Accountable for setting clear direction, aligned with strategy, and providing room for staff to deliver, and make their own mistakes in a controlled environment;
  • Accountable for driving results from stakeholders, through effective partnership with teams responsible for Credit Risk, Model Implementation and Production, Internal and External Audit and Regulatory Reviews of Credit Risk Models, as well as other key stakeholders; and
  • Accountable for managing the workload of the IAT team through ensuring that deliverables and issues are appropriately identified and prioritized, taking into account the requirements and timelines of the underlying program

What do you need to succeed?

Must Have

• Bachelor's or master's degree in Finance, Accounting, Risk Management, Engineering, Computer Science, Statistics, Mathematics, Behavioral Economics, or other quantitative field of study.
• 5+ years of industry experience Credit risk measurement or Stress Testing. Cross-functional capability, with good business, risk, and regulatory requirement knowledge in credit risk. Sound conceptual understanding of the credit risk measurement methodologies required for measuring losses under Stress Testing and provisioning systems.
• Ability to communicate, orally and in writing, complex technical concepts and related business implications to technical and non-technical audiences.
• Advanced proficiency with SAS, Python, and SQL.
• Ability to quickly grasp new concepts, especially in the field of risk management and finance/accounting (e.g. IFRS 9, CECL, Stress Testing)
• Conceptual thinker with a curious mind to challenge and question the status quo and the ability to make quantitative decisions on ambiguous and complex techniques which will have an impact directly on RBCs financial statements.

Nice to Have

• Experience in financial services industry with understanding of risk management, credit strategy
• Experience working with big data, Data Lake

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
• Ability to make a difference and lasting impact
• Flexible work/life balance options
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work

Job Skills

Business Data Analysis, Database Structures, Data Governance, Data Modeling, Decision Making, Economic Analysis, Financial Regulation, Information Management, Logical Data Modeling, Long Term Planning

Additional Job Details

RBC CENTRE, 155 WELLINGTON ST W:TORONTOTORONTOCanada37.5Full timeGROUP RISK MANAGEMENTRegularSalaried2024-03-282024-04-21