Senior Manager, CFO Operational Risk

What is the opportunity?

The CFO Control Office, reports into RBC's CFO Group and adds value by overseeing several key risk management programs including the Operational Risk Program, the Culture Conduct and Reputation Risk Program, the SOX Compliance Program and the Regulatory Compliance Management (RCM) Program. On behalf of the CFO Group, the team is responsible for the design and execution of the programs it oversees. It supports the CFO Group's objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, controls and governance processes which impact the CFO Group and, in the case of SOX, all of RBC. The Senior Manager CFO Operational Risk will assist the Director in leading these activities for the CFO Group's Operational Risk and Culture, Conduct and Reputation Risk Programs.

The Senior Manager, reporting to the Director, will be responsible for supporting operational risk management within the CFO Group including providing expertise, advice, and counsel to senior management, enhancing their ability to anticipate and manage operational risks effectively. The incumbent will lead/participate in other risk and control related projects, as necessary, and develop CFO-wide control standards, including for new policy requirements, IT system upgrades/implementations, etc. as needed.

What you will do?

Risk Governance, Identification and Measurement

• Execute operational risk programs within the CFO Group in accordance with RBC's Operational Risk Management Framework.
• Develop and maintain CFO-wide specific policies, procedures, and tools to comply with RBC's Operational Risk Management program.
• Perform risk and control assessments, including review of business processes, significant initiatives, significant loss events, and what-if scenarios, to identify where operational risks might manifest and where controls need to be put in place.
• Assesses the effectiveness of the control environment, recommending mitigating strategies as appropriate.
• Investigates loss events to assess for potential control weaknesses, ensure appropriate corrective action is taken to mitigate the risk exposure.
• Review the portfolio of CFO initiatives, liaising with initiative stakeholders as required, to develop a point of view on the overall risk profile of the portfolio and, conducting more detailed assessments as required for the identification and mitigation of future state risk impacts.
• Carries out research into areas of perceived, elevated, or emerging operational risk, to conduct qualitative / quantitative analysis of operational risk information.

Relationship Management

• Collaborate with partners across the CFO Group, GRM Operational Risk and other RBC Functional teams to understand program requirements, share best practices and identify and evaluate relevant risks and controls.
• Promotes a strong culture and understanding of operational risk management practices within the CFO Group through proactive communication & identifying opportunities and solutions to make it easier for our business partners to meet business goals.
• Advise CFO Senior Leaders on significant or pervasive areas of emerging operational risk and/or issues. Identify root causes, assess trends and implications and recommend and track corrective actions.
• Assess the impact of new policy and standard requirements on the CFO Group program, processes and controls.

Reporting and Monitoring:

• Monitor status of operational risk programs, key risks indicators, and emerging trends to provide periodic reporting to Governance Committees
• Leverages technology to streamline, automate and enhance reporting process.

What you need to succeed?

Must Have

• Financial designation (i.e. CPA: CA/CFA or CGA) or equivalent work experience
• 5+ years in the financial services industry
• Exposure to risk management or similar compliance programs in like organizations
• Good knowledge of leading operational risk practices
• Business maturity level and skill/judgment to be able to deal effectively with leadership team members within the CFO Group, as well as enterprise wide as required; strong impact and influence skills
• Strong presentation and communication (verbal and written) skills
• Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills
• Sound knowledge of project management practices

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above