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CCAR Model Validation- Associate Director
RBC Financial Group
Jersey City, NJ, United States
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What is the opportunity?
As the Model Risk Manager in Enterprise Risk Model Risk Management (EMRM), you will work in close proximity to model stakeholders in order to validate mathematical models used by RBC, mainly focusing on validating CCAR (Comprehensive Capital Analysis and Review) models, including Mortgages-backed Securities (MBS) models. You will act as a trusted advisor and effective challenger to model developers and users on all matters pertaining to CCAR model requirements.
What will you do?
• Acquire and maintain a thorough understanding of the model work flow and context of model usage.
• Validate CCAR (Comprehensive Capital Analysis and Review) models, including market risk RWA projection models, PPNR models, credit models etc.
• Validate Mortgages Backed Securities (MBS) and mortgages loan models.
• Engage the risk, finance, front office, and other related function group personnel, as necessary to pro-actively identify, assess, monitor, and manage model risk.
• Participate local model risk management functions,
• Oversee that, per RBC model risk policy, models are:
(1) Appropriately registered and risk rated by EMRM (Enterprise Model Risk Management); (2) validated before use; (3) following appropriate protocol when adjustments or other changes are made to a model, its inputs or outputs;
• As appropriate and where independence of oversight is not compromised, offer input on model design or use that would enhance the management of model risk.
What do you need to succeed?
Must-have
• Hold a graduate university degree in a quantitative discipline such as econometrics (preferable), statistics (preferable), math, physics, or financial engineering.
• Have more than 3 years of working experience. Relevant experience in CCAR and/or MBS is preferable.
• Possess a strong quantitatively-oriented knowledge of financial products and industry best practices and regulatory requirements for model risk management.
• Have a collaborative mind-set with strong interpersonal skills.
• Strong verbal and written communication 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.
◦ 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 take on progressively greater accountabilities
◦ Opportunities to building close relationships with clients
About RBC
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We employ approximately 78,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 39 other countries. For more information, please visit rbc.com.
Diversity and Equal Opportunity Employment
RBC is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status or any other legally-protected factors.Posting Notes: SF:JB; SF:LinkedIn Campus