Senior Audit Manager, Model Risk

What is the opportunity?

RBC Internal Audit is hiring a Senior Manager within the Model Risk Audit Team. You will provide an independent and objective assessment of the effectiveness of Model Risk practices within the first and second line of defense across RBC.

This includes assessing the effectiveness of internal controls throughout the model lifecycle; identification, development, documentation, validation, implementation, and performance monitoring & use. You will also contribute to the assessment of the effectiveness of model risk management practices with focus on AML, Credit Risk, Artificial Intelligence & Machine Learning (AI/ML), Stress Testing, Valuation, Market Risk, Liquidity Risk and Counterparty Credit Risk models.

What will you do?

• Contribute to the development of a risk-based multi-year approach to the audit of Model Risk Management within RBC.

• Through in-depth understanding of the business including changes to the regulatory and business environments, develop model audit programs to ensure effective control solutions are implemented.

• Contribute to effective continuous risk monitoring and continuous assurance on overall Model Risk Management controls.

• Provide input on the assessment of the effectiveness of model development and model validation activities; including quality of supporting documentation, modelling methodologies, margins of conservatism, parameter choices, testing and the wide range of other modelling decisions that are made.

• Plan and execute technical audit engagements related to a broad range of models including those used in AML, capital markets, market risk, credit risk, regulatory capital, IFRS 9/CECL, CCAR, stress testing, AI/ML, finance, insurance and treasury

• Continually develop working relationship with business stakeholders to become a trusted advisor.

What do you need to succeed?

Must-Haves:

• 5-7 years of internal audit experience with at least 3 years dedicated to model risk

• A strong track record of having validated and/or developed any of the following model types: AML, Market Risk, Credit Risk, Data Science AI/ML, Capital Risk, Treasury (Interest rate risk and/or liquidity risk), Valuation, Insurance, Stress Testing.

• Knowledge of relevant legislation and regulations relating to model risk management

Nice to have:

• Working knowledge in machine learning techniques, programming in Python, R.

• Working knowledge of Internal Audit Services practices, policies, procedures and systems with Internal Audit experience in Banking or Capital Market.

• Quantitative Degree in Finance/Mathematics/Physics/etc.

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 include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• 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.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $110,000-$190,000 depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

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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Additional Job Details

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.