Job Description

What is the opportunity?

This role mitigates Legal, Operational and Economic risk associated with derivatives transactions and includes providing supervision to the Confirmation Analysts. You will ensures that quality service is provided and that the Bank is represented in a professional manner at all times.

What will you do?

• Draft and review ISDA confirmations covering plain vanilla and structured OTC derivative transactions and those of other asset classes, as necessary, and directly negotiate terms with counterparties.
• Protect the Bank’s integrity and reduce risk of loss by ensuring that all Derivative transactions completed are valid deals and correct with respect to financial details and all other relevant binding details; promptly notifying traders and management of missing or erroneous trades.
• Develop and maintain an understanding of ISDA definitions & any applicable supplements related to derivatives transactions. Ensure that documentation complies with ISDA and current market practice to prevent, detect, and eliminate the potential for risk and liability to the firm.
• Perform daily review to ensure all confirmations are drafted, dispatched and executed in accordance with procedures, Standing Orders and regulatory guidelines (e.g. CFTC & ESMA).
• Act as escalation contact for aging outstanding trades / issues.  Further escalate as necessary to Sales / Trading, Credit Risk and Senior Management.
• Work with Sales / Trading regarding issues arising from the booking of transactions, initiate recommendations to reduce errors.
• Liaise as necessary with Management, Legal, Documentation and FO regarding new and non-standard confirmation templates and new client requests.  Ensure proper documentation of all approved templates and applicable operational procedures.
• Monitor counterparty set up process to ensure appropriate controls are in place to mitigate risk of setting up clients where KYC and due diligence is not yet completed.
• Provide effective supervision and leadership to the Confirmation Analysts.
• Assist Management with the development and cross-training Confirmation Analysts to ensure adequate coverage of functions is maintained, especially during time of high volumes and/or staffing changes.
• Work with Management to establish appropriate and attainable goals for Confirmation Analysts and provide feedback on their performance.
• Review processes to ensure the adequacy and effectiveness of controls.
• Update procedures as required to mitigate risk / improve efficiency and ensure staff members are in compliance.
• Perform UAT testing for system upgrades / enhancements.
• Act as back up for all team members.

What you need to succeed?

• Post-Secondary education or equivalent
• 7 – 10 years of prior relevant experience.
• Good knowledge of ISDA documentation definitions and the complexity of Derivatives transactions
• Good knowledge of Derivatives Products in general, standard market practices and trading terminology
• Good familiarity with the various processes involves in confirmation as well as support systems.
• Excellent verbal and written communication skills
• Demonstrate the ability to lead a cohesive team charged with effectively balancing the customer experience while managing operational and reputational risk.
• Detail-oriented, strong time management and organization skills 
• Self-motivation, initiative, good attention to detail & high level of numeracy.
• Analytical abilities and able to be pro-active to foresee potential problems.
• The ability to adapt coaching and leadership style to staff

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
• Leaders who support your development through coaching and managing opportunities 
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Flexible work/life balance options

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.