Job Title

Senior Analyst, Trade Expense Management, Business Support

Job Description

The Trade Expense Management Group within Capital Markets Business and Client Services Business Management manages and controls the firm’s 3rd party trade execution related cost base. This group acts as the center of excellence for 3rd Party Trade Ex Invoice receipt and reconciliation, fee schedule maintenance, processing of payments, internal allocation of costs, subsequent reporting to all impacted stakeholders across the firm and the identification and execution/realization of cost saving opportunities. Trade Expense Management also provides analytics, predictive forecasting and financial modeling to further improve the transparency of costs, produce value-added MI to enable effective vendor management, identification of cost savings opportunities and to contribute towards the firm’s budgeting / new business evaluation processes.

Primary Responsibilities:

Business Relationship Management – Be a point of contact for all Trade execution information, queries, issues with the relevant line of business, including its support functions.

GL Reconciliation (Variance Analysis) - In depth analysis of appropriate business balances within Trade Ex GL with detailed commentary on all variances.

Reporting - Timely production and communication of globally and regionally consistent decks with required levels of transparency, supplied to the relevant stakeholders (Head of Trade Expense Management and Global Head of BCS Business Management and Business heads.)

Cost Optimization Identification - In line with business strategies, trading patterns and through anomalies identified in benchmark reporting work with the appropriate business to identify areas for service and cost optimization. Ensure all cost savings are documented, tracked and updated on a regular basis.

Commercial Contract Analysis. Help instill a cyclical contract management process that will culture longer term cost efficiency. This will be achieved through understanding the various commercial contracts we utilize and documenting them within a central system.

Benchmark reporting – Assist with benchmark reporting for appropriate vendor types ensuring same service, same product service tariffs are benchmarked and anomalies advised to the business as part of cost optimization identification.

Predictive Expense Forecasting – Where requested assist in the submission of annual plan numbers for appropriate business at the vendor, service and Transit level taking into account predicted variation in volumes (where applicable) and in line with future trading strategies.

Ad-Hoc reporting - Responding and executing on ad hoc reporting requests from the business and supporting functions (i.e. Product Control, Financial Control)

Business & Client Service related costs – (i) Where costs hitting the trade ex line are Operational in nature, liaison with the appropriate BCS Managers to ensure oversight of costs levied and underlying transaction detail (where available). (ii) Alignment of Operational costs levied with KPI and volume metrics gathered by Performance Management team.

Experience Required:

Advanced level knowledge of Excel, VBA & SQL.

A natural interest in managing and analyzing cost and seeking better outcomes.

Superior non-cognitive personality traits.

The ability to work both autonomously and within a disciplined team framework.

Comfortable communicating with any individual, regardless of seniority. 

Excellent presentation skills.

Education, certification and designation requirements:

Post-secondary education or equivalent

Additional capabilities and skills:

Knowledge of end-to-end trade lifecycle functions/processes within a Capital Markets, Securities Trading, and Brokerage of similar environment, gained through experience.

Understanding of the flow of costs related to the business of a Capital Markets firm; experience in an Operational environment a distinct asset.

Knowledge of RBC's operating platforms and accounting systems; including eGL and related sub-ledgers, APEX, ADP, Sophis etc

Additional knowledge of Revport and Qlikview considered an asset

This role will suit someone who possesses strong leadership behavior and whose principles mirror the RBC Leadership Model. They need to be naturally change driven, with a view to continually making progress.

Data handling skills are necessary in order to simplify complex information and provide 'clarity and impact' to our business partners. The role includes the need to present so prior experience (or a desire to learn this skill) is required.

Automation skills and Trading Floor experience are advantageous.

RBC requires as a condition of employment that all successful candidates in the United States and Canada be fully vaccinated against COVID-19 prior to their start date, and may require proof of the same.  Reasonable accommodation is available where required by law.

Job Summary

The role of Senior Analyst, Trade Expense Management, Business Support, is to act as a point of contact and relationship manager to the Front Office and other consumers of 3rd Party Trade Ex related services as it pertains to the Trade Expense cost base, reviewing the cost profiles with the business, helping our business partners understand the key drivers of the costs and facilitating / leading cost savings activities.

The role also has managerial responsibilities and this includes providing leadership support to the three Toronto based staff and assisting with the general administration of the team