Director, GRM Credit Risk Models and Initiatives

As part of the Group Risk Management (GRM) team, the Director, BFS Credit Risk Modeling and Initiatives - GRM will take a primary role in developing and enhancing proactive risk oversight of Business Financial Services (BFS) portfolio from credit modeling perspective. This role’s responsibility will include developing credit models, leading a team of 2-4, engaging with stakeholders across risk and business, communicate results to senior executives, and providing thought leadership on credit risk modeling.

What is the opportunity?

As part of the Group Risk Management (GRM) team, the Director, BFS Credit Risk Modeling and Initiatives - GRM will take a primary role in developing and enhancing proactive risk oversight of Business Financial Services (BFS) portfolio from credit modeling perspective. This role’s responsibility will include developing credit models, leading a team of 2-4, engaging with stakeholders across risk and business, communicate results to senior executives, and providing thought leadership on credit risk modeling.

The modeling responsibilities covers a wide variety of models including, but not limited to, Machine learning, Artificial Intelligence, credit scoring, and surveillance models for the purpose of reducing losses or driving revenue in the portfolio.

You will be driving an initiative to create a risk modeling group and build credit modeling expertise within RBC GRM Business Financial Services, a strategic step for future initiatives to elevate PRO capabilities to manage risk and improve decision-making.

The incumbent is expected to have strong Commercial business acumen, communication, leadership, and analytical/quantitative skills and accepts accountability for leading a team responsible for the end-to-end risk modeling and deployment within GRM Portfolio Risk Oversight (PRO). This position will provide the strategy and execution around data, modeling methodologies, enabling deeper insight, better business decisions & more effective risk oversight.

What will you do?

• Lead a team of data scientists or credit modelers responsible for sourcing data, engineering features, as well as developing, monitoring, and deploying models,
• Providing thought leadership on leveraging, or enhancing, PRO data and infrastructure for developing credit risk models using leading-edge modeling approaches. e.g., Early Warning Signal, and location-based risk score,

• Participate in data assessment and procurement for credit modeling and analytics, help automate the underlying credit modeling feature farm, assess, and address data gaps, as well as develop, monitor, and deploy credit risk models,
• Lead engagement with stakeholders and experts across adjudication and line-of-business throughout model development cycle; solicit input from expert and ensure models are business-sound,
• Communicate clear and concise results to senior executives in GRM, BFS and across the enterprise and ensure alignment with model objectives,
• Develop in-depth understanding of credit risk across industries or credit products within BFS.
• Collaborate with business partners across head-office and regional banking on establishing the operating model to leverage the model results for practice management and proactive risk monitoring,
• Proactively prepare model documentation, source codes, presentation decks, and/or model monitoring reports,
• Support risk and business across strategic initiatives such as prioritize Criteria Paper recalibration, financial forecasting models, and evolving stage 3 credit provision forecasting methodologies,
• Manage, coach, and mentor the individuals on the team to ensure they are developing in their career and continually executing at higher levels of competence.
• Provide focus and clarity in establishing individual goals for direct reports, driving performance management, supporting career development, and rewarding strong performance. Assist in development of succession plan.

What do you need to succeed?

Must-have

• Degree in quantitative disciplines such as Mathematics, Statistics, Economics, or other fields that provides excellent exposure to quantitative/statistical methods,
• Typically, 7 years of experience in credit risk modelling or other financial and non-financial risk models at a major financial institution.
• Excellent written and verbal communication with an ability to convey complex concepts effectively and engage and influence stakeholders across risk and business lines.
• Strong understanding of Commercial business, credit products, policies, and strong financial acumen.
• Track record of people management experience.
• Flexibility and creativity in problem solving, including strong abilities of innovation and pathfinding.
• Strong data manipulation capability with SQL and Python; expertise with MS Office Suite.

Nice-to-have

• Advanced Degree (master’s or PhD) in quantitative field of study – to demonstrate capability for critical thinking and data analysis,
• Demonstrated leadership in cross-functional environment,
• Proven ability to manage multiple priorities, execute decisions quickly, and deliver on tight timeline in a fast-paced environment,
• Expertise in navigating RBC internal data: Enterprise Data Warehouse, Credit Risk Assessment (Newton) Data, Wholesale Credit Risk Data (WCRD), and Origination System Data (Synergy)
• Working experience with machine learning NLP, and AI techniques

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, fair compensation, commissions, and stock where applicable

• Leaders who help 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

Job Skills

Analytical Thinking, Credit Risk Modeling, Data Analytics, Leadership, Machine Learning, People Management, Portfolio Risk, Python (Programming Language), Risk Models, Structured Query Language (SQL)

Additional Job Details

RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO TORONTO Canada 37.5 Full time GROUP RISK MANAGEMENT Regular Salaried 2024-02-12 2024-03-02