Director, CCAR Models

RBC; Toronto; On-site; CAD 120,000 - 160,000; Full time

Job summary

A leading financial institution is seeking a Director, CCAR Models in Toronto to lead model conceptual design and maintenance for CCAR stress testing. The ideal candidate will possess strong analytical skills, excellent programming abilities (Python), and broad knowledge of traded products. Additionally, they should excel in team management and communication, ensuring models meet regulatory standards. This role offers a dynamic work environment with a focus on continuous improvement and collaboration.

Benefits

Comprehensive Total Rewards Program

Supportive leaders for development

Collaborative team environment

Qualifications

• Broad knowledge of traded products across various asset classes.
• Strong analytical and problem solving skills.
• Excellent programming skills (e.g., Python).
• Strong data management and analysis skills (e.g. SQL and Excel).
• Experience managing a team.
• Strong English communication skills required.

Responsibilities

• Lead team for mathematical models used for CCAR stress testing.
• Understand user business requirements.
• Evaluate best practices for modeling.
• Develop technical implementation for production.
• Document methodologies and testing results.
• Investigate modeling issues and remediate them.

Skills

Traded products knowledge

Regulatory requirements understanding

Analytical skills

Programming (Python)

Data management skills (SQL, Excel)

Team collaboration

Agility in dynamic environments

Team management experience

Strong English communication

Education

Masters in Financial Engineering or relevant quantitative degree

Job description

What is the Opportunity?

As part of the Group Risk Management team, the Director, CCAR Models leads a team which is responsible for the conceptual design, development, and ongoing maintenance of the mathematical models used for CCAR stress testing.

This includes ensuring that the model's underlying methodologies are appropriate and that they are implemented with integrity, to facilitate the effective management of the bank's capital adequacy assessment under CCAR scenarios.

What will you do?

• Work with model users to understand their business requirements.
• Conduct research, review regulatory requirements and consult with industry stakeholders to evaluate best practices for modeling.
• Make recommendations on model methodologies, and develop technical implementation, either for production usage or to serve as a prototype for benchmark testing.
• Provide business requirements with technical implementation details and user acceptance criteria to technology teams for production deployment, and validate implementation using independently developed benchmark models.
• Document model methodologies, implementation details and testing results, and work with internal validation to facilitate their approval of the models.
• Develop tools to assess and monitor model performance, including assumptions and limitations, on an ongoing basis for reporting to the various model monitoring governance committees.
• Investigate and remediate modeling issues identified through regular re-reviews, ongoing monitoring or by internal validation.
• Re-assessment and testing of models, including assumptions and limitations and benchmarking against alternative models, and documentation of the results in models whitepapers and annual assessments for review by internal validation.

What do you need to succeed?

Must Have:

• Broad knowledge of traded products across various asset classes.
• Understanding of regulatory requirements and industry best practices for CCAR stress testing.
• Strong analytical and problem solving skills.
• Excellent programming skills (e.g., Python).
• Strong data management and analysis skills (e.g. SQL and Excel).
• Ability to work collaboratively to achieve team goals.
• Agility to adapt to changing circumstances in a dynamic environment.
• Experience managing a team.
• Strong English communication skills, both written and verbal, especially in the explanation of complex modeling concepts to senior management and regulators.

Nice-to-Have:

• Masters in Financial Engineering, or a degree in another quantitative subject such as physics, statistics, mathematics or mathematical finance and/or a relevant professional qualification, with concentration in quantitative methods and/or finance.

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

• Leaders who support your development through training and coaching

• Work with a dynamic, collaborative team with ability to make a difference

Job Skills

Business Analytics, Derivatives, Effectiveness Measurement, Investment Banking Analysis, Long Term Planning, Market Analysis, Market Risk, Results-Oriented, Risk Management

Additional Job Details

Address: ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City: Toronto

Country: Canada

Work hours/week: 37.5

Employment Type: Full time

Platform: GROUP RISK MANAGEMENT

Job Type: Regular

Pay Type: Salaried

Posted Date: 2025-11-26

Application Deadline: 2025-12-13

Note

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

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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