Unveiling a Remarkable Career Opportunity at RBC: Regulatory Relations Associate Director
Royal Bank of Canada (RBC), a global financial institution, is offering a unique opportunity for a professional to join its Regulatory Relations team as the Associate Director. The role is primarily based in the United States and involves serving as the primary point of contact and coordination for domestic and foreign regulators on behalf of RBC’s consolidated U.S. operations (CUSO). The extensive job description reveals a role that is both challenging and rewarding, with an opportunity to actively shape the bank’s regulatory relationships.
Role Overview: Navigating the Regulatory Landscape
As an Associate Director in RBC’s Regulatory Relations (RBC RR) team, the selected candidate will be the primary point of contact for the Office of the Comptroller of the Currency (OCC), among other regulators. The role also involves providing regulatory support and advice to RBC Bank in relation to exams, inquiries, investigations, and overseeing the ongoing monitoring, reporting, and escalation of key regulatory matters. When the need arises, the incumbent will also lead and/or participate in regulatory engagements with other RBC businesses.
Key Responsibilities: Managing Regulatory Relationships and Internal Reporting
Working in this role entails a wide range of responsibilities. A significant aspect of the job involves maintaining regulatory relationships through exam management and continuous monitoring activities. This includes providing timely and proactive guidance to RBC Bank Board Members, Executives, and management to effectively maintain healthy regulatory relationships in line with all applicable laws, regulations, and policies.
Another important responsibility is internal reporting. The incumbent is expected to assist in summarizing and preparing reports that communicate RBC Bank exam activity and issues for RBC’s Regulatory Action Committee. This includes preparing internal reports for RBC Bank Management and Board of Directors, and promoting information sharing of existing and new material regulatory issues.
Issues Management and Additional Responsibilities
Issues management is yet another key area of responsibility. The incumbent will lead discussions on RBC Bank’s regulatory issues, including the development of thematic observations, conclusions, and recommendations related to regulatory issues. Additionally, they will oversee the timeliness and accuracy of responses to regulators, including data requests and responses to exam findings.
Beyond these primary responsibilities, the position also entails additional duties such as creating and maintaining department documentation, including manuals, training materials, and communications, and overseeing and maintaining the safeguarding of Confidential Supervisory Information.
Skills and Qualifications
As the job involves dealing with complex and critical issues, it requires a candidate with extensive regulatory knowledge and expertise. Excellent judgment and analytical skills, high-level written and oral communication skills, and effective organization skills are essential. The ideal candidate will have an in-depth knowledge of FRB and OCC rules, regulations, and examination practices. A minimum experience of 5 years in a similar role is preferred. An undergraduate degree is required, while a Master’s/JD degree is preferred but not required.
What’s in it for you?
Working with RBC comes with a comprehensive Total Rewards Program, competitive compensation, flexible benefits, and opportunities to make a lasting impact. The bank also offers a world-class training program in financial services and flexible work/life balance options.
Salary and Employment Details
The expected salary range for the position varies, with the range for New York/New Jersey and Los Angeles being $110,000 – $190,000, and for North Carolina, it is $85,000 – $150,000. These ranges depend on various factors such as the candidate’s experience, skills, market conditions, and business needs. The role is full-time and located at 8081 Arco Corporate Drive, Raleigh.
Inclusion and Equal Opportunity Employment at RBC
RBC is committed to providing an inclusive workplace that fosters diversity and values different perspectives. The bank strives to create an environment where employees can perform at their best, collaborate effectively, drive innovation, and grow professionally.
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