What is the Opportunity?

As Special Initiatives Analyst, in this 18 month contract role, you will manage the testing and implementation of new accounting and IT initiatives relating to the Enterprise Hedge Accounting team within the Wholesale Finance group with the objective of delivering timely, accurate and reliable financial information. In this capacity, you will be working on the reporting and production aspects of RBC’s Net Investment, Cash Flow & Fair Value hedge accounting programs thereby helping the bank mitigate its interest rate & FX risk.

What will you do?

• Support the operational execution and implementation of new accounting standards, including IBOR Reform. Assess related financial reporting impact, coordinate and execute implementation plan
• Manage end-to-end hedging workflows and system operations
• Identify and assist in system and process enhancement initiatives
• Ensure the provision of accurate and complete Financial and Regulatory Reporting for Wholesale Finance results
• Ensure SOX and RBC EUC documentation compliance and completeness including new controls/ process
• Responsible to ensure new hedges, products and transactions are appropriately captured in RBC Financial Reporting Systems, including the appropriate use of GLs and Financial Statement reporting lines
• Ensure accurate external reporting, including FS, note disclosures, regulatory reporting & management reporting
• Maintenance of the monthly review program to ensure financial controls are in place and the appropriate reconciliations are completed.  Ensure that global policies and procedures are adhered to by all stakeholders, including Product Control, Operations, and Head Office Statutory & Regulatory Reporting to ensure consistency and adequacy of reconciliations
• Prepare daily inception documentation through validating transaction details; performing effectiveness testing and monitoring counterparty credit risk
• Assist in the investigation of all financial and regulatory reporting matters

What do you need to succeed?

Must-have

• Knowledge and understanding of system design and analysis, acceptance and user testing, training and product improvement methodologies
• Knowledge of complex financial instruments and transactions, together with a willingness and interest in developing that knowledge
• Ability to manage operations workflows and process improvement experience
• Ability to analyze complex subject matter, troubleshoot problems, and propose solutions
• Highly developed communication, interpersonal and negotiation skills are considered necessary for the success of this role. Strong financial, analytical, judgmental and conceptual skills
• Excellent presentation and report writing skills
• In-depth understanding of strategic business objectives combined with broad industry knowledge of investment products, market practices and derivatives operations

Nice-to-have

• Strong knowledge of the RBC financial systems 
• Technical competence in relevant financial and statutory accounting standards.
• Strong Investment business knowledge, especially in the derivatives trading and operations, with hands-on experience in Derivatives/Investment IT Application Management

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 and 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

RBC is committed to supporting flexible work arrangements when and where available. Details to be discussed with Hiring Manager.

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.