US ALM Risk Manager

About the role

The US GRM-Balance Sheet Risk (US GRM-BSR) group provides independent and effective on-site monitoring, controlling, and communication on the nature and extent of all material liquidity risk and banking book market risk (non-trading market risk, interest rate risk in the banking book [IRRBB]) across RBC’s Combined US Operations (CUSO), which includes RBC’s US branches and agencies, RBC’s Intermediate Holding Company (RIHC) and its material entities: RBC Capital Markets LLC (CM LLC), City National Bank (CNB), and RBC Bank Georgia, N.A. (RBC Bank). The group ensures the implementation of and compliance with risk management policies and procedures.

The incumbent will support the Lead, US ALM Risk Management and the Head, US GRM-BSR in the oversight of banking book market risk across RBC CUSO as part of the Group Risk Management (GRM) mandate and will promote a “Best of Class” risk oversight environment. The role involves providing complex analytical support for managing risk across large portfolios of assets and liabilities, along with the associated risk factors. The complexity exists at both the RBC CUSO level and within individual legal entities.

Responsibilities

• Provide support to the Lead, ALM Risk Management on matters pertaining to the oversight of the ALM profile and management of CUSO entities.
• Coordinate within established policies and procedures, assuming responsibility for interpretation and delivery.
• Independently conduct moderately complex routine operations and maintenance support activities.
• Demonstrate a good understanding of ALM procedures and concepts, responding to moderately complex functional queries.
• Adhere to operating policies and procedures and regulatory guidelines; make recommendations within the scope of ALM and provide input into policy amendments.
• Identify and independently resolve moderately complex routine issues in the context of ALM.
• Analyze data and prepare reports of observations and recommendations based on findings.
• Execute on approved strategy and assist in developing strategies/action plans to address technical and competency gaps within ALM oversight.
• Ensure a strong control environment by aligning data management, methodology, and quantitative models.
• Utilize the Bank’s banking book market risk measurement platforms to support risk analytics.
• Implement risk analysis tools to allow for deeper understanding of risk drivers and changes.
• Understand and quantify the impacts from model and parameter assumptions employed within the banking book market risk framework, including deposit duration models, retail pricing models, and loan prepayment models.
• Create consolidated reporting that includes additional sensitivity measures and stress testing, with consistent aggregation and integration across business lines and legal entities.
• Monitor activities and exposures to ensure adherence to approved policies and limits.
• Regularly review existing policies and limits, proposing updates and revisions where necessary.
• Ensure risk reporting is timely and accurate; investigate and understand changes in risk.
• Provide insight on key risks and exposures versus market trends and potential events to identify emerging risk exposures.

Requirements

• 2+ years’ experience in the financial services sector.
• Bachelor’s Degree.

Qualifications

• Knowledge and experience in ALM and interest rate risk management at a large financial institution.
• Knowledge of and experience with US bank regulations for liquidity, capital, and interest rate risk management.
• Excellent oral and written communication skills.
• Strong understanding of risks in the financial services sector, effective risk management approaches, and global risk issues.
• Strong record of work experience in the financial services industry with exposure to operational processes, financial products, credit, and/or risk management activities.
• Self-starter with the ability to work independently, prioritize, and handle multiple work streams with attention to detail.
• Excellent problem-solving, analytical, organizational, and communication skills.
• Good personal computing skills, with knowledge of MS Office programs.
• Intellectual curiosity, global and strategic mindset with the ability to think conceptually.
• Diplomatic and effective consensus builder with strong interpersonal skills.
• Ability to develop and maintain relationships across business platforms, control functions, and external counterparts.
• Ability to meet tight deadlines and work with changing priorities in a dynamic team environment.

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
• 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.

Pay

The good-faith expected salary range for this position is $110,000 - $165,000 depending on factors including but not limited to the candidate’s experience, skills, registration status, market conditions, and business needs. This range does not include other elements of total compensation, such as a discretionary bonus and benefits.

Schedule

• Full-time role.
• 40 hours per week.

Location: Los Angeles, California, United States of America.