Director, Model Risk Audit

What is the opportunity?
Internal Audit (IA), as the Third Line of Defense, provides independent assurance to senior management and the Board of Directors on the effectiveness of risk management policies, processes, and practices in all areas of RBC.

As Director, Model Risk Audit CoE, you will be accountable for assessing the design and execution effectiveness of the business processes and related controls throughout the model lifecycle for all Enterprise models. You will lead a large team of experienced model risk audit professionals and oversee all model risk audit projects for our Enterprise (i.e., excluding US) portfolio. As Audit lead for Enterprise Model Audit within Internal Audit, Model Risk CoE, you will work closely with audit partners within Chief Audit Executive Group (CAE) and business partners within 1LoD and 2LoD. 

The RBC CAE Group leverages a unique perspective— with a coordinated view across the entire business—to deliver valuable advice that not only gives assurance, but that illuminates a bigger picture, connects dots, builds best practices and broadens possibilities. We connect intelligence to protect and enable RBC.

• Responsible for providing independent assurance for the internal control environment

• Collaborating with business unit leadership to develop and implement audit and control policies, procedures, and best practices which support the growth strategies for those units.

• Advising senior management on risk and control issues and providing practical recommendations to ensure risks are appropriately managed.

• Maintaining relationships with external auditors, business units and senior management to ensure communication of critical issues in a timely manner.

What will you do?
•    Lead a team of Model Risk Audit professionals and oversee model risk audit projects (e.g., model risk audits across all model types, continuous risk monitoring, reporting, validation of regulatory issues/remediation, etc.) for all Enterprise models. Collaborate and support other Business Audit Groups on model related audit work. 
•    Provide support, insights and advises on Model Risk Management practices and act as trusted advisor to stakeholders within CAE and the businesses. 
•    Responsible for development and execution of model audit projects following the model risk audit methodology, including audit planning, scope, approaches, sampling methodologies, and audit execution steps to ensure adequate design and timely execution of the model risk audit projects.
•    Support and address requests from regulators and external auditor.  
•    Build and maintain effective working relationships with stakeholders and audit partners. Support management in developing robust action plans to address deficiencies, and ensure corrective actions are implemented in a timely manner to effectively address the issues.
•    Maintain and enhance model risk audit methodologies to align with best and leading industry practices.
•    Build and develop a high-performance team. 
•    Support senior management on strategic initiatives and ongoing enhancement to internal processes.

What do you need to succeed?
 Must-Have: 
•    Strong leadership, people management, and relationship management skills, with excellent communication skills (written and verbal)
•    Expertise in Model Risk Management and knowledge of industry/best practices in model risk audit and/or development/validation. 
•    8+ years of experience in model audit, development, or model validation functions for large banks. Hands-on experience on model risk audit is required. 
•    Master’s degree in quantitative areas such as finance, mathematics, physics, statistics, or equivalent working experience. 

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.
•    Work with and learn from our extensive global network of people, including risk management professionals, data scientists, researchers, and various subject matter experts.
•    Leaders who support your development through coaching and managing opportunities.
•    Opportunities to do challenging work.

Job Skills

Adaptability, Auditing, Detail-Oriented, Internal Controls, Interpersonal Relationship Management, Multi-Level Communication, Results-Oriented

Additional Job Details

20 KING ST W:TORONTOTorontoCanada37.5Full timeINTERNAL AUDITRegularSalaried2026-01-072026-01-20

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.