• Job Description

  Req#: R-0000062035

  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

  Manager, Product Control

  Job Description

  What is the opportunity?

  As a Manager Product Control, you will responsible to provide quality analytical support to the Capital Markets Derivative portfolios by performing daily mark-to-market valuation, P&L reconciliation and generating risk / position reports on an accurate and timely basis. You will also act as the main liaison with Front Office, Middle Office, Information Technology, Trading Processing, Financial Control and other operating units to facilitate trading activities.

  What you will do?

  Daily P&L production, month-end reporting and reconciliation:

  • Act as the primary point person for all Front Office queries and issues and effectively monitor, track, and complete tasks in a timely fashion
  • Perform daily valuation and analyze MTM movements by measuring the impact of new deals, amendments, cancellations as well as changes in yield curves, volatilities, convexity bias, rate reset and time decay where applicable
  • Pro-actively monitor all operational, valuation and risk management issues pertaining to the trading portfolios assigned
  • Prepare position reports to facilitate risk monitoring and to substantiate P&L results
  • Inform senior management of any irregularities that may present potential exposure to the firm
  • Provide P&L Analysis – commentary for large movements in P&L for management reporting
  • Communication of Daily, MTD and YTD results to the Desk Head, compare P&L Estimate vs. Actual results –explain variances and obtain sign-off
  • Ensure that daily sign-off is obtained by the Front Office in a timely fashion
  • Prepare all monthly accounting entries to the G/L and conduct reconciliations to ensure figures are properly tied back to the systems of record
  • Provide support to Statutory and Regulatory Reporting and Head Office as it relates to the business – filling out relevant templates and providing adequate back up
  • Work closely with all members of the Product Control team, providing guidance and cross training when required
  • Identify opportunities to improve valuation and risk reports and pro-actively streamline processes to improve productivity
  • Perform daily PNL and Balance Sheet reconciliations to ensure figures are properly tied back to the systems of records
  • Maintain a solid knowledge base of how various products are handled by the Front Office systems
  • Perform testing of new system update releases
  • Provide information to satisfy audit requests from both internal and external auditors
  • Develop an understanding of RBC operations and the functions of various business units across the firm

  Must have

  • 2+ years of experience in a Capital Markets environment
  • Excellent MS Excel skills
  • Very good understanding of derivatives products
  • Strong analytical, problem-solving, interpersonal and communication skills
  • Able to work effectively and reliably under pressure
  • Advanced understanding of procedures and operational controls as they relate to trading systems and workflows
  • Strong ability to work independently with minimal guidance from manager

  Nice-to-have

  • Canadian Securities Course
  • Derivative Fundamental Course
  • CFA Candidates or Charter holders

  Job Summary

  Address:

  TORONTO, Ontario, Canada

  City:

  CAN-ON-TORONTO

  Country:

  Canada

  Work hours/week:

  37.5

  Employment Type:

  Full time

  Platform:

  Office of the CFO

  Job Type:

  Regular

  Pay Type:

  Salaried

  Posted Date:

  2023-06-14

  Application Deadline:

  2023-06-29

  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.

• About the company

  Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Com...

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