Manager, Quantitative Modelling

RBC Insurance; Toronto; On-site; CAD 67,000 - 110,000; Full time

Benefits offered by this job

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Job summary

RBC Insurance is seeking a Manager, Quantitative Modelling to join the Chief Investment Office in Toronto. You will develop risk measurement frameworks and quantify sensitivities for insurance portfolios, collaborating with senior investment professionals to defend policyholder assets.

You will build models for rate, credit, FX, and inflation risks, price securities, and prepare risk reports for managers and executives.

Qualifications

• Advanced degree in a quantitative discipline (Master’s or PhD) or strong undergrad degree with relevant professional experience
• Strong Python programming skills with libraries commonly used in quantitative finance (NumPy, pandas, QuantLib)
• Experience with version control systems (Git)
• Familiarity with fixed income mathematics (duration, convexity, spread risk) and derivative pricing concepts
• Excellent communication to explain complex concepts to non-technical stakeholders
• Detail-oriented and able to work independently while collaborating in a team

Responsibilities

• Collaborate with CIO to define and monitor risk sensitivities for fixed income and derivatives portfolios
• Develop quantitative models for interest rate, credit, FX, and inflation risks
• Calculate daily PnL and perform attribution and reconciliation with accounting systems
• Price fixed income securities and derivatives with accurate, consistent valuations
• Enhance risk measurement frameworks and identify gaps for improvements
• Leverage generative AI tools to automate tasks and accelerate coding workflows
• Prepare risk reports for investment managers and senior stakeholders
• Validate risk calculations and support new risk management tools

Skills

Python programming

Quantitative finance

Communication skills

Independent work

Team collaboration

Education

Master's or PhD in quantitative discipline

Tools

NumPy

pandas

QuantLib

Git

Bloomberg Terminal

Job description

What is the Opportunity?

RBC Insurance's Chief Investment Office is seeking a Manager, Quantitative Modelling to join our investment management team. In this role, you will work closely with senior investment professionals to develop and implement sophisticated risk measurement frameworks that serve as the first line of defense for our insurance investment portfolios. This position offers an exceptional opportunity to build foundational expertise in insurance asset risk management while contributing to the protection of policyholder assets.

Job Description

RBC Insurance's Chief Investment Office is seeking a Manager, Quantitative Modelling to join our investment management team. In this role, you will work closely with senior investment professionals to develop and implement sophisticated risk measurement frameworks that serve as the first line of defense for our insurance investment portfolios. This position offers an exceptional opportunity to build foundational expertise in insurance asset risk management while contributing to the protection of policyholder assets.

What will you do?

• Collaborate with the CIO team to define, calculate, and monitor key risk sensitivities for fixed income and derivative portfolios, including PV01 (present value of a basis point), CS01 (credit spread duration), XCCY01 (cross-currency basis risk), and inflation sensitivity measures
• Develop quantitative models to measure interest rate, credit spread, foreign exchange, and inflation risks across diverse asset classes held within insurance investment mandates
• Calculate and monitor daily profit and loss for asset portfolios, performing attribution analysis to identify drivers of performance and reconciling results with accounting systems
• Price fixed income securities and derivatives, ensuring accuracy and consistency of valuations across the portfolio
• Enhance existing risk measurement frameworks, identify gaps in current methodologies, and propose improvements to ensure comprehensive risk coverage
• Proactively leverage generative AI tools to enhance productivity, automate routine tasks, accelerate code development, and improve analytical workflows
• Prepare regular risk reports for investment managers and senior stakeholders, translating complex quantitative metrics into actionable insights
• Validate risk calculations and support the implementation of new risk management tools and systems

What do you need to succeed?

Must-have

• Working knowledge in quantitative finance, risk management, asset management, or related buy-side roles within financial services
• Advanced degree (Master's or PhD preferred) in a quantitative discipline such as mathematics, statistics, financial engineering, physics, computer science, or data science, or a strong undergraduate degree with relevant professional experience
• Strong Python programming skills; proficiency in Python libraries commonly used in quantitative finance, including NumPy, pandas, QuantLib, and visualization tools
• Experience with version control systems (Git)
• Familiarity with fixed income mathematics, including duration, convexity, and spread risk measures
• Solid understanding of derivative instruments, their pricing methodologies, and risk characteristics
• Excellent communication skills with the ability to explain technical concepts to non-technical stakeholders
• Detail-oriented, capable of working independently while collaborating effectively within a team environment

Nice-to-have

• Proactive and enthusiastic approach to adopting generative AI tools (such as ChatGPT, Claude, GitHub Copilot, or similar) to enhance coding efficiency, automate workflows, and solve problems effectively
• Proficiency with Bloomberg Terminal, including familiarity with fixed income analytics, derivative pricing functions, and data retrieval capabilities
• Knowledge of asset-liability management concepts and insurance liability hedging

What’s in it for you?

Whether it’s developing new skills, opportunities to innovate and grow, modern and comprehensive benefits, or the flexibility to enjoy the moments that matter, at RBC you have everything you need at your fingertips to build your career and life.

• Working with an award-winning team Awards | RBC Diversity & Inclusion
• A comprehensive Total Rewards package that prioritizes your overall wellbeing, including flexible and modern benefits, competitive compensation and stock options
• Work where you belong as part of a supportive, inclusive team and company that celebrate your unique perspectives, background and experience and want you to bring your whole self to work, every day.
• Leaders who are invested in your success and provide opportunities to learn, to grow and to try new things. Develop new skills, sharpen existing ones and explore paths you never knew existed with a host of learning programs and tools designed to support you in every phase of your career.
• An opportunity to have real impact on the lives of our clients and the communities you serve.
• RBCI software tools to boost your productivity

Job Skills

Critical Thinking, Economic Analysis, Financial Derivatives, Financial Instruments, Fixed Income Investments, Investment Risk Management, Market Risk, Quantitative Methods, Quantitative Models, Risk Measurement

Additional Job Details

Address: RBC CENTRE, 155 WELLINGTON ST W:TORONTO

City: Toronto

Country: Canada

Work hours/week: 37.5

Employment Type: Full time

Platform: INSURANCE

Job Type: Regular

Pay Type: Salaried

Posted Date: 2026-08-21

Application Deadline: 2026-09-04

Compensation for this position (including salary and discretionary/variable payments) will be determined by factors, including but not limited to candidate's experience, skills, registration status, performance, individual goals, market conditions, and business needs.

The expected pay range for this position is:

$67,000.00 - $110,000.00

The pay range provided is for the primary work location referenced in the Additional Job Details section of this job posting. Pay ranges may differ based on location. If the posting lists multiple job locations, a recruiter can confirm availability of the role and the relevant pay rage for the additional locations listed. RBC supports pay transparency and we strive to ensure all pay ranges are competitive, fair, and equitable.

You have the potential to earn RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided that business meets its performance targets and you meet your individual goals.

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One 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.