Director, Head of WM Client Cash Management Operations

What is the opportunity?

Join RBC Wealth Management, a Minneapolis/St. Paul Business Journal "Top Place to Work", and shape RBC's future!

As Director of Client Cash Management Operations for RBC US Wealth Management, you will drive the overall business strategy to support our firm's strategic growth and lead transformation initiatives to create meaningful change in our standards for service, innovation, and risk management. You will collaborate with various partners across RBC while building trust to help enable change that will create a lasting impact in the organization.

Your specific and exceptional technical expertise combined with prior wealth management operations, project, and risk management leadership experience will help you unlock the potential of our people and inspire your teams to be curious and innovative.

This is a nationwide search for a position requires being on-site in Minneapolis, MN in a hybrid working arrangement that offers the flexibility to meet these requirements from an alternate US home location (location flexibility will be based on qualification | details will be made available after initial screening and upon associated inquiry).

What will you do?

• Lead and manage the Cash Management Services Operations teams to ensure overall performance meets or exceeds the established industry, regulatory and company standards for service, innovation, and professionalism for the following functions:

• Money Market and Bank Deposit Sweeps
• Wire Transfer
• Check Processing
• ACH Processing
  

• Lead multiple processing and project workstreams supporting high net worth clients and their financial advisors by managing a full spectrum of supporting stakeholders that include WM executive management, operations leaders, group finance/controllers, internal audit, legal, compliance, and external regulators (including FINRA, US Federal Reserve, OCC, SEC, FDIC, and others).
• Ensure compliance with 15c3-1 and 15c3-3 Broker Dealer Net Capital and Customer Protection Regulations, for both existing business and new banking products/services.
• Manage department budget, financial forecasts, staffing models, department metric tracking and compensation administration.
• Deep technical expertise in wealth management banking operations and technology, inclusive of experience managing and changing highly complex technology-enabled processes that are supported by internal and external/vendor solutions.
• Lead the development, recommendations, and execution of business plans for the department.
• Partner with the Capital Markets Team on funding to facilitate WM client transactions.
• Partner with business leaders to enable future growth, efficiencies, and exemplary service.
• Ensure adherence to US Wealth Management procedures and policies, completed accurately and within service level agreements and regulatory guidelines.
• Lead managers to coordinate and delegate assigned responsibilities; ensuring processes are performed according to prescribed regulations and established policies and procedures.
• Provide training, coaching, recognition and development for team members; fostering teamwork and planning for succession.
• Oversee complex exception-based and/or highly specialized department deliverables and processes to ensure controls are effectively managing work quality, mitigating risk and aligned to regulatory adherence.
• Monitor implementation and effectiveness of new Technology solutions, processes/procedures to increase timeliness, reduce expenses, and/or enrich service. Provide feedback and guidance to managers, accordingly.

What do you need to succeed?

Must-have

• 4-year degree from an accredited university or equivalent OR High school diploma or equivalent AND 7+ years of wealth management industry experience.
• 7+ years prior experience managing line-level operations departments for a Wealth Management business.
• Prior experience managing banking services that are fully integrated into the full ecosystem of wealth management operations functions and the associated technology stack.
• License FINRA Series 7 or 99 required.
• Executive-level presence and expert-level knowledge of how a large wealth management business operates, with equivalent expertise with investment products/securities, client service, capital markets, and common industry rules and utilities.
• Understanding of Broker Dealer (BD) Net Capital, BD-Bank Funding, and BD Customer Protection a requirement.
• Demonstrated large-scale operational risk management experience.

Nice to have

• Experience with Fraud processing.
• Proven leadership in driving medium-to-large scale technology changes including innovation.
• FINRA Series 27 Principal License - While a Series 27 license is not required at hiring, testing will be encouraged within the first year of employment. If already obtained, an active Series 27 license will raise standing in the screening process.

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 great benefits, annual incentive program and recognition.
• Leaders who support your development through coaching and managing opportunities Ability to make a difference and lasting impact.
• A dynamic, collaborative, and high-performing team.
• Flexible work/life balance options.
• Opportunities to do challenging work.
• Positive work culture emphasizing diversity and inclusion, volunteerism, and community involvement.

Job Skills

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