Job Description

What is the opportunity?

The Model Risk Governance Reporting team is primarily responsible for developing and maintaining robust model risk policies and control procedures to ensure effective management of model risk across the organization. The team plays a critical role in generating comprehensive model risk compliance reports tailored to the needs of various stakeholders, including senior management, business lines, and regulatory bodies.

As part of the second line of defense, the team provides independent oversight of the bank’s model risk management practices. This includes monitoring adherence to internal policies and regulatory requirements, identifying potential areas of non-compliance, and recommending corrective actions as needed. The team also collaborates closely with the first line of defense to promote a strong risk culture and ensure that model risk is appropriately managed throughout the model lifecycle.

What will you do?

Provide timely, accurate, and complete model risk reporting and analysis, owning the end-to-end processes that facilitate this reporting streamAnalyze the dynamic global enterprise model risk management model inventory systemPerforms quality execution of the Model Risk Management workflow and reporting toolMaintain all processes and procedure documents supporting the controlled administration of RBC’s Global Model InventoryInteract with all necessary stakeholders by coordinating deliverables, facilitating interactions through regular reporting, meetings, and managing project closure initiativesSupports Enterprise Model Inventory System Development Lifecycle (SDLC) planning and implementationUnderstand, analyze, and communicate the drivers and trends for RBC (and key sub-legal entities within RBC) and provide context with respect to changes in the model risk profile of the businessPerform daily data verification and reconciliation between MAVRICK API and in-house MAVRICK databaseMaintain a thorough understanding of the methodologies used for model risk management and challenge existing logics and processes with active initiativesGenerate trends and reports on a monthly and quarterly basis for senior management and operating committees and communicate key/material changes to all stakeholders.Participate in other ad hoc analyses and projects around RBC’s model risk management framework, including resolving internal audit findings, addressing MRIAs, recalibrating internal thresholds, and establishing new reportsPerform timely tracking on out-of-compliance models and actively follow up with upstream stakeholders to resolve out-of-compliance issuesEnhance existing Model Risk Reports by leveraging Python, SQL, and data visualization tools such as Tableau and Power BI, with the goal of improving operating efficiency, data completeness, and accuracy

What do you need to succeed?

Must-have

5+ years of experience in Model Risk or similar risk management related rolesMBA, MA or MS or equivalent with emphasis in math, finance, economics or a quantitative disciplineExpert in SQL database, MS Excel VBA, PowerPoint, Tableau and other similar database programs or toolsStrong verbal and written communication skills.Strong analytical skills and knowledge of programming languages, preferably Python

Nice-to-have    

CFA, FRM or other related professional qualificationsGood understanding of model, non-model framework and their associated Model Risk frameworksKnowledge of model risk management framework such as KPI and RAM within the Model Risk Management industry

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 compensationLeaders who support your development through coaching and managing opportunitiesWork in a dynamic, collaborative, progressive, and high-performing teamOpportunities to do challenging workFlexible work/life balance options

Job Skills

Client Counseling, Competitive Markets, Critical Thinking, Financial Instruments, Financial Regulation, Investment Risk Management, Long Term Planning, Quantitative Methods, Risk Management

Additional Job Details

Address:

ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2025-09-10

Application Deadline:

2025-09-24

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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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.