Senior Director, Retail Loss Forecasting and Mitigation

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

Job summary

RBC seeks a Senior Director for Retail Loss Forecasting and Mitigation to manage analytical frameworks and lead a team in developing loss mitigation strategies. The role requires strong risk management experience and leadership skills to enhance portfolio profitability.

Benefits

Comprehensive Total Rewards Program

Flexible work/life balance options

World-class training program

Qualifications

• Minimum 10 years experience in financial services at senior level.
• Deep knowledge of advanced statistical tools for credit strategies.

Responsibilities

• Lead a team to develop loss mitigation strategies using advanced AI.
• Create reliable loss forecasts for retail lending products.

Skills

Leadership

Analytical Skills

Risk Management

Communication

Education

University degree in a quantitative field

Job description

Job Summary

Job Description

What is the opportunity?

RBC is the leading banking lender in Canada with over $1 Trillion in assets. The business has grown significantly over the last several years, especially following the acquisition of HSBC Canada. To maintain our leadership position for the next 5 years, RBC will require a strong commitment to product innovation, client retention, an effective use of multiple distribution channels, and finally a significant focus on portfolio optimization and cost reduction. As we look ahead, Loss mitigation will be central to risk management for profitability optimization through the cycle and for enabling sustainable growth rates for Canadian personal banking portfolio overall.

The Senior Director, Retail Loss Forecasting and Mitigation, plays a pivotal role in managing the suite of analytical frameworks that leverage advanced credit risk models and forecast credit losses for retail products such as credit cards, mortgages, line of credit and automotive financing loans. In addition, the incumbent will lead a team of analysts, data engineers and operational partners in developing and executing loss mitigation strategies that will leverage advanced AI and digital capabilities at RBC to connect with clients effectively and create personalized plans that help our clients as well as manage portfolio loss performance.

The role reports to the VP, Retail Risk, Models & Portfolio Management.

What will you do?

• Leverage and personally demonstrate RBC’s Leadership Model to engage, empower and develop a team of subject matter experts that can deliver against key imperatives.
• Create a safe environment that allows people to: speak up; offers opportunities to fail and learn; focus on what matters; draws out diverse perspectives and thinking; enables a high caliber of collaboration and flexibility; and, ultimately unlocks the full potential of the team.
• Ability to partner very effectively with a diverse group of stakeholders
• Accountable for leading and directing the Director, Retail Loss Forecasting to ensure he/she builds intuitive and reliable loss forecasts for retail lending products that help inform business and enterprise partners. The loss forecast is a key input to business planning, quarterly shareholder reporting and enterprise capital and provisions related decision making process. The incumbent must ensure that the retail loss forecast follows prudent risk management practices by overseeing the evaluation and monitoring of our loss forecasting frameworks.
• In addition, the incumbent will be accountable for leading and directing the Director, Retail Loss Mitigation Strategies to ensure he/she leverages deep analytical and industry/business expertise to guide the team to establish priorities for new and innovative loss mitigation strategies that deliver improvements in delinquency, loss prevention, loan growth, and profitability optimization. This includes exploring opportunities to partner with our technology and vendor partners to deliver seamless client experiences.

What do you need to succeed?

Must Have

• Strong experience in risk management, with a solid understanding of the Retail Lending business, including product economics.
• Minimum 10 years experience in financial services, having recent senior level positions, and a full awareness of the strategic issues and opportunities facing the industry.
• Deep knowledge of advanced statistical tools as well as an ability to use these tools effectively in credit strategies.
• Strong analytical skills with the ability to interpret data, innovate and make strategic decisions.
• Ability to generate unique, actionable insights & recommendations from analytics and use strong presentation skills to develop a compelling business case for them in from of senior management
• Experience in developing a Test & Learn Environment and knowledge of designing & executing comprehensive Foundational Testing
• Deep knowledge and experience with robust data infrastructure of model development and analytics.
• Strong people management skills with a proven ability to lead a team of highly talented individuals and deliver results.
• Demonstrate Strategic business sense & thought leadership to come up with unique ideas to enhance portfolio profitability & improve risk management.
• Strong knowledge of collections & other account management processes.
• ·Solid communication and presentation skills with the integrity and confidence to liaise with senior executives.

Nice to Have

• University degree in a quantitative field of study (e.g., statistics, engineering, economics, mathematical finance) – to demonstrate ability for critical thinking & numerical analytics.

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, competitive compensation, commissions, and stock where applicable
• 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
• A world-class training program in financial services
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Opportunities to building close relationships with clients
• Access to a variety of job opportunities across business and geographies

Job Skills

Career Development, Investment Economics, Operational Delivery, Performance Management (PM), Team Management

Additional Job Details

Address:

RBC WATERPARK PLACE, 88 QUEENS QUAY W: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:

2025-05-12

Application Deadline:

2025-05-19

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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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.