Manager, Cost Allocation Services

RBC; Toronto; On-site; CAD 60,000 - 80,000; Full time

Job summary

A leading Canadian bank is seeking a Manager for Cost Allocation Services in Toronto. The role involves operational support of cost allocation models, financial reporting, and process improvements. Ideal candidates will have at least 5 years of relevant experience, strong analytical skills, and a good understanding of financial practices. The position offers competitive compensation, flexible benefits, and opportunities to develop within a dynamic team.

Benefits

Comprehensive Total Rewards Program

Flexible work/life balance options

Opportunities for professional development

Qualifications

• 5+ years of relevant experience required.
• Excellent problem solving and analytical skills are essential.
• Candidates should have advanced knowledge of MS Excel and PowerPoint.

Responsibilities

• Manage day-to-day operations of cost allocation models.
• Prepare and post journal entries accurately and timely.
• Improve the transparency and efficiency of cost allocation.

Skills

Financial Reporting practices

Problem solving

Analytical skills

MS Excel

MS PowerPoint

Education

Accounting designation CA, CPA and/or MBA

Tools

Cognos financial reporting software

Job description

Job Description

Come be part of a team that is working diligently to streamline cost allocation processes across RBC and drive greater cost transparency for stakeholders.

The Manager, Cost Allocation Services is responsible for the day-to-day operational support of cost allocation models which include development, maintenance, production and process improvement of cost allocation models as well as the posting of entries and reporting of cost allocations derived from the model for month ends, forecast and plan.

The role is a good mix of finance BAU processes and IT change work. We are looking for individuals that would like to challenge the status quo and drive process improvements.

What will you do?

• Maintain and run assigned cost allocation models for Actual, Forecast, Plan and FX as required
• Update assigned models to accurately reflect requested changes to allocation rates and other business rules housed within the allocation model.
• Prepare and post Adjustment capture, PeopleSoft, ADP and/or SAP allocation journal entries in an accurate and timely manner
• Responsible for simplifying current cost allocation process i.e. reduce the effort required to run/ maintain the production
• Improve transparency on allocated charges and allocation methodology used by various platforms and provide timely and accurate monthly, quarterly, forecast and plan allocation reports to finance and Business partners within established SLA parameters
• Liaise and manage competing priorities from various Finance Performance Management teams
• Support onboarding of new models

What do you need to succeed?

Must Have

• Good understanding of Financial Reporting practices
• Working relevant experience (5 years or more)
• Excellent problem solving and proven analytical skills
• High degree of initiative and solution-based attitude
• Ability to work under pressure and demonstrate multi-tasking skill
• Advanced knowledge of MS Excel and PowerPoint
• Excellent oral and written communication skills

Nice to Have

• Accounting designation CA, CPA and/or MBA (good to have)
• Understanding of Cognos financial reporting software an asset
• Familiarity with financial services industry a plus, but not required (we’ll teach you the business domain knowledge!)

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
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Opportunities to building close relationships with clients

Job Skills

Adaptability, Business Appraisals, Business Process Design, Decision Making, Effectiveness Measurement, Interpersonal Relationship Management, Long Term Planning, Operational Delivery, Organizational Change Management, Process Management

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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Additional Job Details

Address:

180 WELLINGTON ST W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

TECHNOLOGY AND OPERATIONS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2025-12-23

Application Deadline:

2026-01-09

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

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.