What are the responsibilities and job description for the Vice President, Securitization Financing Portfolio Management and Administration position at Royal Bank of Canada?
Job Summary
- This role is part of Securitization Financing Portfolio Management and Administration (“PMA”) group. The PMA group is a closely integrated, cross-functional specialized team that provides various critical functions to different RBC front office businesses within Global Markets (Securitization Financing, Alternate Finance and Central Funding). PMA provides transactional execution support for securitization transactions executed in the US, Canada, Europe, and Asia. These transactions are either funded directly on RBC’s balance sheet or via one of seven multi-seller RBC administered commercial paper conduits that are administered by the Securitization Financing group.
- PMA also provides on-going at least monthly complex collateral monitoring, administration, and internal and external reporting on a large and diverse portfolio of bespoke private securitization transactions and structured products across 15 asset classes for over 200 transactions and 115 clients.
- PMA also performs daily management of all aspects of 7 individual finance companies which are RBC Administered Conduits who provide funding to clients through the issuance of ABCP in the US and Canadian markets.
- PMA is a center of excellence in supporting structured finance transactions. This role includes nuances of oversight, operational, compliance, project management, accounting responsibilities and compiling data for internal and external constituents and ensuring compliance with applicable by-laws, transaction legal documents and internal policies and procedures.
Job Description
What will you do?
- Develop understanding of all aspects of the Securitization Financing Product.
- Lead all internal and external audits of the Securitization Financing business. Act as lead contact and follow up on any findings. Prepare Going Concern and Related Party Analysis and any other memos requested by external auditors.
- Review the RBC Administered Conduit audited financial statements and footnotes prior to execution.
- Responsible to follow up on compliance related information in relation to Securitization Financing business.
- Prepare and maintain Delaware Representative Office requirements.
- Maintain relationship with Conduit First Loss Investor and ensure or complete all required reporting, oversee quarterly payment process and lead annual extension process.
- Assist with leading efforts to define and implement support of new products or programs and ensure PMA and other RBC constituents are educated to provide support.
- Actively participate in review of new or amendments to existing RBC Administered conduit legal documents.
- Maintain form of Transaction Request used by Securitization Financing Origination for submission to Group Risk Management for credit approval for transactions.
- Prepare forecasting and plan detail for Securitization Financing platform.
- Review administration sections of legal documentation, including fee letters, to make sure infrastructure can support booking and proper product administration.
- Responsible to understand enterprise- wide impact of any new vehicles or new structures, including regulatory, compliance, accounting, tax, and operational implications. Ensure Front Office and PMA understand the impact.
- Responsible to make sure RBC’s books and records and disclosures for the Product are correct by preparing and or reviewing various reconciliations and reviewing files prior to submission to Finance.
- Main contact for review and approval of RBC’s Report to Stockholders and Annual Report disclosures for the Securitization Financing platform
- Prepare Sponsorship Checklists for all commitments funded on the balance sheet and for any RBC Administered Conduits
- Prepare quarterly information for IFRS 9 Execution and Analytics Group in order for ECL calculations to be performed. Review the output of the calculations.
- Maintain Volker Database
- Track all Product metrics/limits/targets required to be monitored.
- Proactive member of writing, submitting, and presenting any NBCs or other approval processes required for the business.
- Work closely with Finance and APG in order too understand accounting pronouncement that effect our business and communicate to Securitization Financing.
- Prepare and coordinate review by Origination staff of any templates required by Finance and APG in order too properly reflect exposure in RBC’s records (for example IFRS 9 SPPI Templates)
- Prepare training presentations for operational groups that support the product for example Finance, KYC/AML groups.
- Play an oversight function to the onboarding of clients and provide guidance and backup for the process if required (Lead all interaction with KYC/AML groups for the business)
- Play an oversight role to all aspects of the support of the Securitization Financing business.
- Document procedures for all activities that are under this role’s responsibility.
- Foster an environment of teamwork and partnership amongst Securitization Finance team and internal and external business partners.
- Proactively identify operational risks / control deficiencies in the business.
- Review and comply with Firm Policies applicable to your business activities.
- Escalate operational risk loss events, control deficiencies and risks that you identify to your line manager and the relevant risk and control functions promptly. Failure to do so may subject you to disciplinary action, up to and including termination.
What do you need to succeed?
- Minimum 7-10 years of relevant securitization experience highly preferred.
- BS in finance, accounting, or related subject.
- Possess strong written and oral communication skills.
- Ability to prioritize and effectively manage a large workload in a high-pressure environment.
- Ability to multi-task with little supervision.
- Ability to inter-act effectively and establish good working relationships with both RBC staff and external constituents.
- Ability to manipulate large data sets.
- High proficiency in Microsoft Word, PowerPoint & Excel.
- Demonstrated analytical and problem-solving skills.
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 include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
- 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.
- Opportunities to build close relationships with clients.
Job Skills
Business Oriented, Creative Visioning, Customer Service, Delegating Tasks, Finance, Group Problem Solving, Marketing Strategy Implementation, Product Services, Strategic ThinkingAdditional Job Details
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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
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