Manager, Enterprise Model Risk Management

Royal Bank of Canada; Toronto; On-site; CAD 100,000 - 150,000; Full time

Job summary

A leading financial institution in Toronto seeks a manager for model validation and benchmark model development. You will ensure the integrity of equity derivative models and enhance operational effectiveness while handling regulatory compliance. The ideal candidate has expertise in complex mathematical models, a strong quantitative background, and proven skills in model validation. A full-time role that promotes professional growth and impact within a collaborative team.

Benefits

Comprehensive Total Rewards Program

Opportunities for professional development

Agile and collaborative work environment

Qualifications

• Experience in model validation or model development.
• Product knowledge of structured equity derivatives.
• Fluency in computational techniques like Monte Carlo simulation.

Responsibilities

• Validate new and existing valuation and risk measurement models.
• Consult on technical model issues and independent price verification.
• Identify and escalate material issues related to model risk.

Skills

Actuarial Modeling

Business Analytics

Credit Analysis

Financial Regulation

Investment Risk Management

Predictive Analytics

Risk Management

Statistical Analysis

Education

Advanced degree (Masters, PhD) in a quantitative discipline

Tools

C

C++

Java

Perl

Python

VBA

Excel

Matlab

Job description

Overview

What is the opportunity?

As a manager, you are responsible for model validation and benchmark model development of structured equity derivative models. Your responsibilities include preventing any loss that could occur due to the misuse of mathematically complex models, for the purpose of protecting and enhancing RBC’s financial safety and reputation. You will evaluate material issues related to model risk and increase the bank’s operational effectiveness in dealing with a large volume of regulatory-driven model validation initiatives. You will contribute to RBC’s goal of being a leading financial services partner valued for our expertise.

What will you do?

• Independently validate new and existing valuation and risk measurement models for RBC Capital Markets with a concentration on structured equity derivatives.
• Provide consultancy to Local Market Risk, Finance and Global Valuations regarding technical model issues and independent price verification issues.
• Identify and escalate material issues related to model risk, and provide consultancy with respect to potential solutions to these issues.
• Identify and articulate model limitations.
• Report writing and model inventory maintenance.
• Identify inconsistencies across models and escalate inconsistencies to management.

What do you need to succeed?

• Experience in model validation, model development or a related position.
• Product knowledge of structured equity derivatives (single and multi-asset, multi-currency products).
• An advanced degree (Masters, PhD) in a quantitative discipline, ideally in Finance.
• Fluency in computational techniques, including Monte Carlo simulation, numerical and analytic solution of partial differential equations.
• Programming ability in languages like C / C++ / Java / Perl / Python / VBA; adept at applications such as Excel / Matlab.
• Skilled at explaining complex processes in simple language.

Nice-to-have

• CFA Charter Holder and/or FRM or PRM certification.

What’s in it for you?

• We thrive on the challenge to be our best, thinking progressively 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.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in an agile, collaborative, progressive, and high-performing team.
• The opportunity to interface with executives from many different parts of the organization.

Job Skills

Actuarial Modeling, Business Analytics, Credit Analysis, Financial Regulation, Internal Auditing, Investment Risk Management, Predictive Analytics, Risk Management, Standard Operating Procedure (SOP), Statistical Analysis.

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: 2025-10-24
• Application Deadline: 2025-11-15
• 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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