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The Manager will assist the execution of IFRS 9 provisioning for performing loans by conducting analysis of macroeconomic trends and portfolio characteristics and how they impact the allowance calculation. You will support the Director, IFRS 9 Macroeconomic Scenarios in developing and generating reports and recommendations for oversight committees and senior management.
The incumbent will maintain and develop requisite processes, SOX controls, and analyses in the areas of coverage supporting credit provisioning activities.
What will you do?
Assist with executing tasks required to set annual and quarterly IFRS 9 scenarios. Execute tasks required either to reconfirm or reset quarterly scenario weighting for IFRS 9 scenarios.
Prepare and summarize macroeconomic projections and compile full list of macroeconomic factors from relevant parties for Director's review.
Assist with preparing reports and analyses for the Allowance Committee and senior executives, explaining/correlating reported expected credit loss (ECL) with forward-looking scenario parameters, and in identifying and explaining the trends and changes.
Coordinate with key stakeholders such as RBC Economics, Finance, and other sub-groups within Group Risk Management for process execution.
Work with the Credit Measurement System team to investigate, troubleshoot, and resolve any scenario-parameter related questions or issues, implement forward-looking scenario/parameter related methodology changes and enhancements.
Assist the Director in drafting and compiling quarterly Financial Statement and Investor Relations disclosures as relating to IFRS 9 scenarios, assumptions, scenario weights and macroeconomic factors.
Maintain up to date documentation for auditors and investor relations. Comply with all bank policies including SOX controls as appropriate.
Keep abreast of macroeconomic, regulatory, accounting and other financial industry developments as they relate to RBC's credit provisioning (both wholesale and retail).
What do you need to succeed?
Solid understanding of banking and risk knowledge (wholesale or retail credit or both), with cross-functional capability Risk and Finance; 1+ years of work experience in economics, risk management or finance of a bank with AIRB approach.
University degree in Economics, Finance, Business Administration or a quantitative discipline. Professional designation in Accounting, Finance, or Risk Management preferred, but not required - e.g. CPA, CFA, or FRM etc.
Strong ability to communicate, verbally and in writing, complex concepts in non-technical terms to business segment Finance and senior business segment leaders.
A thorough understanding of relevant accounting and regulatory rules and requirements (IFRS 9, Basel)
Proficient in MS Excel modeling. Knowledge in SAS and Python, or other coding language
Demonstrated self-starter and leader who can tailor analysis to required level of precision.
Quick learner with outstanding conceptual, analytical, and problem solving skills, with an ability to lead a team to work towards challenging deadlines and deliver under pressure.
Works well with cross-functional teams (Risk, Finance, Economics), demonstrating strong teamwork, coordination, and people skills. Ability to develop and / or maintain a strong network of internal and external relationships to facilitate credit impairment decisioning.
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 compensation
Leaders who support your development through coaching and managing opportunities
Work in a dynamic, collaborative, progressive, and high-performing team
Opportunities to do challenging work
Flexible work/life balance options
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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 http://www.rbc.com/careers/index.html rbc.com/careers.
JOB SUMMARY City: Toronto Address: 155 Wellington St. W Work Hours/Week: 37.5 Work Environment: Office Employment Type: Permanent Career Level: Experienced Hire/Professional Pay Type: Salary + Variable Bonus Required Travel (%): 0 Exempt/Non-Exempt: N/A People Manager: No Application Deadline: 01/08/2020 Platform: Group Risk Management Req ID: 205321 Ad Code(s):