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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.
Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.
Job Title
Job Description
What is the Opportunity?
RBC is hiring a Senior Director of Stress Testing. This role is responsible for Enterprise Wide Stress testing, Macro Stress Testing (OSFI), Reverse Stress Tests, Ad-hoc Stress Tests, as well as credit risk inputs into CCAR. It involves the ownership of the risk identification process, stress scenario design, collaboration in business challenge and reviews as well as analysis and reporting of key insights into RBC vulnerabilities to senior management and regulators as required.
What will you do?
- Ownership of plan and execution of stress testing programs
- Lead the development and enhancements for Stress Testing, prioritizing changes and strategic/tactical recommendations to ongoing enhancements.
- Lead the regulatory relationship discussions with regards to Stress Testing
- Lead the challenge of the inputs into the stress testing programs, driving insight discussions about proxies and assumptions used across loss metrics, PPNR and business management actions.
- Provide insights to both senior management and business partners to ensure decisions, business planning, and capital allocation reflect the insights of stress testing.
- Proactively identify risks and vulnerabilities across all business lines to design rich, telling stress scenario design to provide insights into key concentrations and impacts of diversification
- Collaborate with IFRS 9, CECL, CCAR programs to ensure consistency across measures and insights.
- Challenge assumptions of cross-platform relationships and correlations to ensure stress scenarios are not reliant on normal assumptions
- Provide board-level communication and engagement on the stress testing programs and analysis of results
- Keep abreast of regulations that may impact the program
- Ownership of controls and oversight of inputs into Stress Testing
- Prioritize initiatives based on risk materiality, value-add in terms of better understanding RBC’s risk exposures under stress, and based on meeting regulatory requirements.
- Support adoption of the updated leadership model through development and activation of a comprehensive talent development, succession and acquisition strategies.
What do you need to succeed?
Must-have
- Minimum +10 years of risk management experience (in the financial industry), with some prior exposure to provisioning, stress testing, or similar.
- Strong knowledge of financials
- Well-developed (demonstrated) leadership and relationship competencies with the ability to lead internal, cross-enterprise, and external teams to drive initiatives forward
- Strong business acumen and strong analytical skills
- Demonstrated critical thinking
- Creative problem-solving and organization skills with focus on prioritizing high impact deliverables
- A growth mindset
Nice-to-have
- Degree in quantitative field of study (e.g. Statistics, Computer Science, Engineering, Economics, etc.)
- Previous experience running ICAAP, MST, EWST programs.
What is in it for you?
We thrive on the challenge to be our best, progressive thinking, to keep growing, and working together to build and deliver trusted reporting to help our stakeholders succeed 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
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to take on progressively greater accountabilities
Job Summary
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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.
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