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Job Description
What is the opportunity?
As the Head, WM Global Credit Portfolio Management you will be responsible for leading the Portfolio Management, analysis, and reporting function for the global Wealth Management credit and cash portfolios. In this capacity you will also serve as Chief Credit Officer (CCO) for the USWM NY Branch and support the General Manager in the overall governance of the legal entity. You will further foster the responsible growth of the Credit Portfolio and advance the proactive management of the USWM credit business in a heightened regulatory environment.
Additionally, this role will be responsible for oversight of the Institutional Client Credit Management (ICCM) team in support of the Canadian Investor Services business and identifying and developing expanded utilization of the team’s capabilities across Global WM businesses. This role will travel approximately 10-15%.
What will you do?
- Leads financial planning and budgeting process for WM Global Credit and Cash Management
- Directs proactive reporting and analysis of Global Credit and cash portfolios (Monthly/Quarterly Reporting, stress testing, portfolio concentration / ad hoc analysis, etc.)
- Serve as CCO for USWM NY Branch and support the General Manager of the WM NY Branch in the overall governance of the legal entity.
- Supports Annual WM Risk Appetite review and ongoing WM Credit Portfolio Limit structure in alignment with business strategy and objectives.
- Directs Quarterly BCAR (and as applicable CCAR) capital adequacy assessments for the global WM Credit Portfolio.
- Leads RWA optimization efforts for WM Credit.
- Supports the ALLL and provisioning process, methodology and forecast for WM Global Credit Portfolios (IRFS 9)
- Provide oversight and direct management of the WM ICCM team supporting the Investor Services business in Canada and identify and develop opportunities to cross leverage functional capabilities across Wealth Management.
- Provide direction on key strategic projects and support efficient scaling of business model.
What do you need to succeed?
Must-have
- Bachelor’s degree or equivalent work experience with 15+ years’ experience in the processing, delivery and management of credit
- Experience in private client, commercial or corporate account management, credit administration and/or risk management
- A proven record of sound risk assessment and analytical skills with a demonstrated ability to pro-actively develop and implement policies and procedures and a full knowledge of the process inherent therein
- Excellent organization skills and the ability to deliver to tight timetables, completing priorities and multi-tasking
- Demonstrated experience dealing with ambiguity and making decisions despite uncertainty
- Policy development skills
- Ability to understand and deal with complex multi-jurisdictional, cultural, legal and regulatory issues
Nice-to-have
- Experience in various aspects of counterparty risk such as Corporate, Private Client, Funds, Trusts and Derivatives
- Knowledge of Wealth Management business and familiarity with Alternative Structures such as Trust, PICS, etc.
- Knowledge of derivative products and real estate lending
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
- Flexible work/life balance options
- Opportunities to do challenging work
- Opportunities to take on progressively greater accountabilities
- Access to a variety of job opportunities across business
The good-faith expected salary range for the above position is $200,000 - $325,000 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
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