Managing Director IA, RBC IT and CUSO IT Regulatory Management

Company: Royal Bank of Canada
Location: Jersey City
Posted on: March 11, 2023

Job Description:

Come Work with Us!

At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Managing Director IA, RBC IT and CUSO IT Regulatory Management

Job Description

Audit Assurance:

• Leadership & People Management: Leads/manages a team of internal audit professionals at the Banking Platform level. Accountable to ensure there are sufficient resources with appropriate level of subject matter expertise to develop and execute annual audit plan. Manages large, highly complex or strategic projects (thematic audits) that impact RBC USA as required.
• Relationship Building and Client Experience: Engages business Executives, Regulators, External Auditors, and Audit committee of the Board of Directors on a required or regular basis to facilitate proactive and ongoing dialogue or reporting relating to internal control matters impacting the banking platform. Effective management of highly sensitive situations with high-impact outcomes (with stakeholders) that could have material impact on the platform and escalates control issues to the MD IA, CUSO IT and the CAE in accordance with the IA escalation model. Keep business executives, the MD IA, CUSO IT and the CAE abreast of significant control issues with potential significant impact on the platform. When negotiating, knows when to insist, when to compromise and when given a stalemate to seek a fresh perspective. Adopt appropriate conflict management approach to handle sensitive situations or de-escalate sensitive situations.
• Develop the annual Audit Plan for RBC IT and business management platform technology related audit entities, as well as with other audit groups as required, ensuring that audits conform to local and global regulatory and internal audit requirements.
• Direct/supervise/implement the execution of audit plan and ensure effective audit practices for traditional and continuous audits. Collaborate with broader Global and US IT teams and departments to achieve the annual plan. --- Make recommendations to clients on control deficiencies and follows up to ensure significant deficiencies are corrected. Assist business management to develop appropriate action plans to address identified deficiencies, and ensure corrective actions are implemented in a timely manner to effectively address the issues.
• Plan and execute complex and confidential/special audit projects enterprise wide as requested by senior management of the Bank.
• Closely collaborate with non-IT / Business audit teams on coverage requirements and emerging risks
• Communicate trends in risk and control issues to senior management on the results of ongoing reviews of the businesses that are key relationships, or any other business as requested.
• Provide support for US-wide regulatory requests, responses and meetings.
• Provide leadership, coaching, performance management and personal development support.
• Raise the technical knowledge of the group through various courses, seminars and in-house training in the areas of Information Technology for existing and emerging technologies, and related risk management framework, compliance and audit techniques.
• Raise the technical and business knowledge of the group through IT and business auditor cross integration and allocation. Identify new opportunities that would result in cross-team collaboration, develop talent for future roles and create a mutually beneficial situation that allows business and IT auditors to cross pollinate experience and knowledge.
• Build, direct, counsel, and instruct staff assigned to an engagement and review audit plan, findings and reports for sufficient scope and for accuracy.
• Provide leadership, coaching, performance management and personal development support.
• Supporting Executive and Board IT related reporting for RBC IT.
• Develop capability of team use of analytic tools to widen scope of assurance. Regulatory Management:
  • Relationship Building and Client Experience: Engages business Executives, Regulators, External Auditors, and Audit committee of the Board of Directors on a required or regular basis to facilitate proactive and ongoing dialogue or reporting relating to regulatory matters impacting the banking platform. Effective management of highly sensitive situations with high-impact outcomes (with stakeholders) that could have material impact on regulatory items or examination, and escalates concerns to the MD IA, CUSO IT and the CAE in accordance with the IA escalation model. Keep business executives, the MD IA, CUSO IT and the CAE abreast of significant control issues.
  • Oversee the end-to-end regulatory remediation process for any regulatory matters. This includes responsibility for effectively challenging management responses for any new / future regulatory items, establishing MRA validation scope and procedures,, and ensuring effective execution of audit procedures for both interim and final issue validation where applicable.
  • Oversee regulatory ongoing supervision meeting documentation, intake of inquiries, and coordination of regulatory responses. 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, commissions, and stock where applicable
    • Leaders who support your development through coaching and managing opportunities
    • Ability to make a difference and lasting impact
    • Work in a dynamic, collaborative, progressive, and high-performing team
    • Opportunities to do challenging work
    • Opportunities to building close relationships with clients
      
      The good-faith expected salary range for the above position is $150,000 - $250,000 depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.
      
      RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
      
      --- Drives RBC's high performance culture
      
      --- Enables collective achievement of our strategic goals
      
      --- Generates sustainable shareholder returns and above market shareholder value
      
      Job Summary
      
      This position will be responsible for RBC US Internal Audit assurance activities and will oversee all IT regulatory remediation and regulatory matters across the US region. This position will report into the MD IA, CUSO IT lead, and ultimately reports into the US Chief Audit Executive via the MD IA, CUSO IT organizational structure.
      
      The role will provide independent, objective assurance over the design and operation of RBC's Information Technology, Cyber Security, and IT Risk Management practices, governance processes and the system of internal controls relating to the RBC US region. Position will oversee and drive audit plan management and execution, strategic initiatives, and resource management in relation to internal audit operations relating to RBC IT and business managed platform technology teams. Will also provide support in responding to external auditors and US regulators (e.g. FRBNY, OCC) and to meet the evolving demands of the US regulatory environment and heightened expectations of internal audit. This includes the coordination of continuous monitoring, coordination of IA responses to US regulatory examinations, and the verification of regulatory issues.
      
      With regard to Regulator Issue Remediation and other regulatory matters, this role will provide effective challenge on regulatory responses, establishing regulatory validation scope and procedures, documenting and reporting on MRA status to IA and 1LOD/2LOD senior leadership, formally escalating and reporting concerns, and remaining engaged with US senior leadership committees where regulatory updates are required. Further, this role will be responsible for providing updates to regulatory bodies relating to the above. As it relates to regulatory examinations, this person will help oversee those regulatory intake and response activities across the US region.
      
      Address:
      
      Jersey City, New Jersey, United States of America
      
      City:
      
      USA-NJ-JERSEY CITY
      
      Country:
      
      United States of America
      
      Work hours/week:
      
      40
      
      Employment Type:
      
      Full time
      
      Platform:
      
      Internal Audit
      
      Job Type:
      
      Regular
      
      Pay Type:
      
      Salaried
      
      Posted Date:
      
      2022-12-08-08:00
      
      Application Deadline:
      
      2022-12-09-08:00
      
      Inclusion and Equal Opportunity Employment
      
      At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
      
      We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
      
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      Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.

Keywords: Royal Bank of Canada, Jersey City , Managing Director IA, RBC IT and CUSO IT Regulatory Management, Executive , Jersey City, New Jersey