Director, US Mutual Fund Operations

About the role

As the Director for US Mutual Fund Operations, you will be responsible for the financial reporting controls and oversight for the collective investment vehicles (e.g., mutual funds, closed-end funds, private investment funds) for which RBC Global Asset Management (U.S.) Inc. (“RBC GAM-US”) serves as investment adviser. You will serve as an officer (Treasurer and Chief Financial Officer) of RBC Funds (U.S. open-end and closed-end mutual funds) appointed by the Funds’ Board of Trustees, regularly meeting with and providing required reporting to the Board. Additionally, you will oversee operational functions and controls, including third-party service providers (e.g., transfer agent, custodians, fund accounting agents, and administrators) for these investment vehicles.

Responsibilities

• Oversee and maintain effective controls over all aspects of fund accounting and administration, financial reporting, transfer agency, and custodial operations for the RBC Funds (U.S. ’40 Act mutual funds) and private investment funds advised/sponsored by RBC GAM-US.
• Serve as the primary RBC Funds management contact for the Funds’ external auditors and the Audit Committee of the RBC Funds Board of Trustees.
• Review and approve annual and semi-annual fund financial statements and shareholder reports.
• Review and sign all RBC Funds federal income, state income, and federal excise tax returns. Maintain tax calculations/schedules (e.g., deemed dividends, PFICs) used in tax return preparation.
• Manage all fund expense budgets; review and authorize expense payments.
• Provide management reporting regarding RBC GAM-US revenues generated by the Funds, as well as revenue/expense forecasting for firm and product profitability projections and product management decisions.
• Manage the annual insurance renewal process for the RBC Funds.
• Oversee the annual renewal of funds’ line of credit facilities with custodians. Request and/or approve borrowing under such facilities.
• Oversee and manage relationships with third-party entities providing accounting, administrative, shareholder servicing, custodial, and distribution services. Conduct regular onsite due diligence and participate in periodic calls with relationship management teams.
• Responsible for policies, procedures, and controls related to fund net asset value calculations and the pricing/valuation of portfolio securities. Lead the Funds’ Pricing Committee and provide related reporting to the RBC Funds’ Board of Trustees.
• As Treasurer and CFO of the RBC Funds, provide regular and ad-hoc reporting to the Board, including fund accounting and financial matters, audits, security pricing and valuation, proxy voting, fund insurance, payments under Rule 12b-1 and shareholder servicing plans, and other operational matters.
• Oversee the preparation and approval of various monthly, quarterly, and annual regulatory filings for the RBC Funds, including Forms N-CSR, N-PORT, N-CEN, N-MFP, 24f-2, 40-17G, and N-PX.
• Manage and oversee custodial relationships and processes for mutual and private funds.
• Complete and execute required documentation to open global custodial and trading accounts for all funds. Update documentation for changes in fund names, structures, and renew foreign investor registrations as applicable.
• Provide required documentation for tax treaty and tax reclaim purposes to ensure funds receive beneficial tax withholding treatment.
• Manage and oversee all operational aspects of fund and ETF-related projects and initiatives (e.g., new product launches, liquidations, service provider changes, operational improvements).
• Review and provide comments/edits for assigned sections of draft fund registration statements and supplements.

Requirements

• Bachelor’s degree in finance, accounting, business, or a related field.
• Significant experience in the asset management and mutual funds industry.
• Working knowledge of fixed income and equity securities.
• Experience with mutual fund operational matters, including transfer agency and custodial functions.
• Proficiency in using technology and AI to improve processes and productivity.
• Excellent communication and presentation skills.
• Effective interpersonal and people management skills.
• Broad knowledge of business principles and a thorough understanding of compliance and legal matters.
• High level of drive and initiative, with the ability to manage multiple stakeholders.
• Astute financial management skills and the ability to respond in a rapidly changing operating environment.
• Understanding of the sense of urgency associated with managing and operating registered investment companies.
• Strong ability to interact with all levels of staff across departments and functions.
• Strong time management and organizational skills, with the ability to handle multiple projects in a fast-paced, ever-changing work environment.

Preferred Qualifications

• Previous experience interacting with auditors and regulators.
• Previous experience interacting with senior management and boards of directors/trustees.
• Operations experience with ETFs.

Benefits

• Comprehensive Total Rewards Program, including competitive compensation and flexible benefits.
• 401(k) program with company-matching contributions.
• Health, dental, vision, life, and disability insurance.
• 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 and build close relationships with clients.
• Potential to earn more through RBC’s discretionary variable compensation program, based on business performance and individual goals.

Pay

The expected salary range for this position is $140,000–$230,000, depending on experience, skills, registration status, market conditions, and business needs. You may also be eligible for RBC’s discretionary variable compensation program, which provides additional earnings based on business performance and individual goals.

Schedule

Full-time, 40 hours per week.