Manager, Operational Risk Management - Investments

Job Description

This role is key in ensuring best-in-class, industry leading Operational Risk partnering practices, providing management with key risk insights to enable sound business decisions in Wealth Management Europe (WME). Through effective understanding of RBC’s risk management framework, industry techniques, stakeholder engagement and collaboration with our broader Operational Risk Management colleagues, the Manager will deliver risk management advisory services to stakeholders at various levels of the organisation.

The key areas of focus will be operational risk events management, issues management, focusing on internal control deficiencies, assessing risk and control environment through the annual RCSA, integrated risk profiles and regular risk reporting, incl. risk appetite measures and key risk indicators. This role can be based across multiple locations across the British Isles, including London, Newcastle, Edinburgh, and Jersey.

RBC’s expectation is that all employees and contractors will work in the office with some flexibility to work up to 1 day per week remotely, depending on working arrangements.

• Work closely with the WME OR Senior Managers to ensure that RBC standards and requirements are met for the ORM programme elements. Manage a team of analysts to assist in partnering with key stakeholders to deliver the operational risk framework across WME.

• Operational Risk Events (OREs) – support key stakeholders in identifying, raising, and analyzing OREs, identifying common themes, and clearly articulating root cause and next steps. Using standardized thematic reporting, provide key stakeholders with insights into how the control environment can be strengthened.

• Issues Management – support key stakeholders in complying with RBC Enterprise Issue Management standard. Perform quality assurance checks on all new issues and actions to ensure problem statements are adequately documented, actions adequately address the problem statement. Ensure evidence for action closure is adequate and adequately addresses the control gaps captured in the problem statement.

• Change Management – support key stakeholders in performing risk profiles for change initiatives. Ensure risks are adequately rated, controls are identified, and where gaps exist, issues are raised to ensure adequate control implementation. Capture control additions, changes, retirements in the RCSA.

• Support the annual RCSA cycle – under guidance from the RCSA lead, execute the roll-out of the RCSA process to business partners, ensuring that risks are appropriately documented, controls identified to mitigate the risks, and issues raised where there is a gap in controls.

• Support the annual WM Risk Appetite Refresh cycle, ensuring delivery of an insightful set of metrics that adequately support the business in preventing and detecting key operational risks.

• Contribute to WME Quarterly Risk Reporting, KRI reporting, deep dive and thematic risk reviews and periodical reporting. Liaise with the wide team, 2
  
  LoD and central reporting team on collating, validating and analysing data.

• Drive the continuous improvement effort by proactively identifying enhancement and/or optimization opportunities within existing processes.

• Looks within and outside RBC for best practices in supporting enhanced risk management and thematic analysis.

• Keeps abreast of the RBC framework changes and industry benchmarks; and where appropriate integrating learnings into business practice.

• Contribute to and drive team efforts to impact, influence and drive a standardised/best-in-class approach to operational risk management, prioritising consistency, efficiency and reusability

• This is a key role supporting the investments function, therefore strong knowledge of investment products, portfolio management, trade flows, and investments regulation such as MiFID II is essential.

• Degree educated.

• Proven Relationship Management / Business Development skills

• Strong experience in risk management practices, including RCSA, Risk Issue Management, Operational Risk Event Management, Risk Reporting, Risk Appetite,…