Senior Manager, Commercial Credit Risk

Royal Bank of Canada; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

The Royal Bank of Canada seeks an Internal Audit Lead to assess and manage audit projects in the Commercial Banking and Group Risk Management sectors. This role demands experience in credit risk management and provides opportunities for leadership and strategic partnerships. The successful candidate will engage with senior management, providing insights and expert opinions on risk and controls, enhancing their career in a dynamic banking environment.

Benefits

Comprehensive Total Rewards Program

Opportunities for professional development

Dynamic and collaborative work environment

Qualifications

• Minimum 5-7 years' relevant industry experience.
• Strong foundation in credit risk management.
• Deep understanding of risk and control concepts.

Responsibilities

• Lead end to end audit engagements focusing on commercial credit portfolio.
• Develop and execute audit programs for credit risk management.
• Provide overall opinions on internal controls and risk management practices.

Skills

Interpersonal skills

Analytical Skills

Project Management

Communication Skills

Education

Post-graduate degree (MBA, CFA, CPA, FRM)

Job description

Internal Audit (IA), also known as the Chief Audit Executive Group (CAE), a division within RBC, has a mandate to provide independent, objective risk assessment and evaluation of the adequacy and effectiveness of risk management practices, internal controls, and governance processes for all areas of RBC.

Job Description

What is your opportunity?

You will lead audit projects and assess the effectiveness of internal controls for credit processes in the Commercial Banking and Group Risk Management platforms. You will gain exposure to RBC products, services, businesses, platforms to become a subject matter expert.

This role will enhance leadership and soft skills through active engagement with audit clients, including executive management and advance your business network within the business and functional platforms. You will have an opportunity to build strategic partnerships while developing critical thinking skills and providing insights to our audit clients on the management of risk in their operating environment.

In addition to Commercial Credit, you will gain valuable exposure to a broad spectrum of credit risk disciplines, including, Wealth Management Credit Risk, Credit Risk Review, and Wholesale Credit Risk, offering a unique opportunity to deepen expertise and broaden career horizons across the credit risk landscape

What will you do?

Lead all aspects of an audit including Planning, Execution and Reporting :

• Lead end to end audit engagements with a focus on commercial credit portfolio. Recommend risk-based audit scope to ensure adequate coverage of key credit risk areas including governance and oversight, origination & underwriting, risk ratings, adjudication, monitoring and reporting.
• Develop and execute audit programs and procedures to assess design and operating effectiveness of controls implemented to mitigate credit risk, regulatory risk and operational risk.
• Develop and draft issues and recommendations relating to control gaps identified, as well as overall audit conclusions based on control strengths and weaknesses.
• Provide an overall opinion on internal controls and risk management practices to Senior Management.
• While not a people manager, lead a team of professional auditors assigned to the engagement and review audit work for sufficient scope, accuracy and alignment with Internal Audit methodology.
• Build and maintain effective working relationships with stakeholders in Commercial Banking and Group Risk Management. Support management in developing robust action plans to address deficiencies, and ensure corrective actions are implemented in a timely manner to effectively address the issues.
• Contribute to the annual audit planning and ongoing risk assessment by identifying emerging risks in the commercial credit landscape (e.g. concentration risk, credit deterioration, regulatory gaps). Identify opportunities for Internal Audit to provide assurance or advisory services consistent with its role to evaluate and improve risk management, control, and governance processes.
• As a strategic thinker, develop new assurance strategies and data-driven approaches to produce risk and control insights for business partners, and increase Internal Audit's efficiency and effectiveness.
• Monitor regulatory developments and ensure audit coverage is aligned with expectations and industry best practices.

What do you need to succeed?

Must-have

• Minimum 5-7 years' relevant industry experience in a financial institution.
• Strong foundation in credit risk management gained through a combination of educational and / or professional work experience.
• Strong interpersonal, communications and presentation skills with an ability to interact effectively with senior management, executives, matrixed leadership experience and the ability to effectively manage and build relationships across RBC.
• Deep understanding of risk and control concepts, with ability to evaluate materiality and significance of deviations, as well as strength of management practices.
• Good understanding of business processes and associated risk and control concepts for wholesale credit products and services.
• Strong project management skills, able to influence staff and meet deadlines on time without compromising quality, excellent analytical, problem solving, time management and organizational skills.

Nice-to-have

• Post-graduate degree and / or Professional designation (e.g. MBA, CFA, CPA, FRM) or similar finance, risk or accounting designation.
• Former knowledge and / or experience within Commercial Banking or Group Risk Management, Credit Risk.
• Knowledge of credit risk regulations across multiple regions, including Canada, United States, Europe, United Kingdom, and the Asia-Pacific.

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
• Leaders who support your development through coaching and managing opportunities
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work

Job Skills

Additional Job Details

Address :

20 KING ST W : TORONTO

City : TORONTO

Country : Canada

Work hours / week : 37.5

Employment Type : Full time

Platform : INTERNAL AUDIT

Job Type : Regular

Posted Date : 2025-05-16

Application Deadline :

2025-05-31

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

I nclusion 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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Manager Credit Risk • Toronto, ON, United States