Job DescriptionWhat is the opportunity? As Director, you will lead the strategic re-engineering and development of Economic Capital (EC) models and processes for wholesale and retail credit portfolios, replacing the legacy framework with a modernized, in-house solution. This role serves as the primary thought leader and subject matter expert for the Economic Capital strategic initiative, providing guidance on model design, methodological choices, and implementation strategy. The Director will combine deep technical expertise in economic capital modeling with strategic project leadership capabilities, coordinating multiple internal stakeholder groups including model development, validation, IT and business partners. This transformational role bridges sophisticated modeling work with organizational change, driving the development of simpler, more practical EC solutions that enhance RBC's strategic autonomy in capital modeling.
You will champion the intellectual vision and direction of the initiative, including the definition of methodological frameworks, evaluation of technical alternatives, and communication of complex modeling concepts to senior management and regulatory bodies. This role balances detailed modeling contributions with high-level strategic coordination and governance responsibilities.
What will you do? - Lead EC Strategic Vision: Define methodological frameworks for wholesale and retail models, including valuation approaches, correlation modeling, credit migration frameworks.
- Provide Technical Thought Leadership: Serve as SME on EC theory, practice, and regulatory expectations; ensure methodological rigor and implementability.
- Manage Cross-Functional Coordination: Align wholesale and retail model development activities while maintaining consistency and facilitating knowledge transfer across teams.
- Drive Project Execution: Manage the roadmap through Tollgate Delivery Framework, establish governance checkpoints, and manage dependencies with validation timelines.
- Collaborate with Enterprise Model Risk Management (EMRM) on model validation strategy and approach. Work closely with EMRM leads to ensure proposed methodologies meet regulatory and governance standards, and coordinate the validation timelines and processes.
- Communicate with Stakeholders: Articulate strategic rationale and benefits to senior management, the Steering Committee, and regulators.
- Coordinate with IT and technology partners on infrastructure requirements for model development, testing, and production environments. Define technical requirements for business managed application infrastructure that will replace the existing IT-managed framework, ensuring timely availability of development and production platforms.
- Explore the use of AI for EC model research, development and implementation.
What do you need to succeed? Must Have - 7-10 years' experience in credit economic capital modeling, credit risk quantification, and regulatory capital frameworks. Prior experience in credit EC modeling is strongly preferred.
- Proven track record of leading model development initiatives and technical projects.
- Proficiency in Python, SQL, and other programming/analytical and AI tools.
- Demonstrated ability to translate complex technical concepts for senior stakeholders and regulatory audiences.
- Experience managing cross-functional teams and coordinating large-scale modeling initiatives
- Master's degree in a quantitative discipline (e.g., Mathematics, Statistics, Engineering, Computer Science, Finance).
Nice to Have - Advanced certifications in financial risk management (FRM, CFA)
- Published research or advanced modeling work in economic capital or credit risk
What's in it for you?
- A comprehensive Total Rewards Program including competitive compensation, flexible benefits and bonuses.
- Work in a dynamic, collaborative, progressive and high-performing team.
- Opportunities to do challenging work and take on progressively greater accountabilities.
Job SkillsClient Counseling, Competitive Markets, Credit Risk Modeling, Critical Thinking, Financial Instruments, Financial Regulation, Financial Risk Modeling, Investment Risk Management, Long Term Planning, Quantitative Methods, Risk Management, Risk Modeling, Risk Models
Additional Job DetailsAddress:RBC CENTRE, 155 WELLINGTON ST W: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:2026-09-17
Application Deadline:2026-10-02
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
