Job Description
What is the opportunity?
As Managing Counsel, you will be the key legal support for the business line providing creditor insurance products to Royal Bank customers, a dynamic and highly regulated business line at the intersection of banking and insurance. This is a unique opportunity to provide strategic legal advice on a broad range of matters, including product development, regulatory compliance, complaint oversight, and distribution arrangements. You will work closely with business partners, compliance professionals, and senior leadership to help shape decisions that protect both the bank and its customers.
What will you do?
Provide strategic legal advice on all aspects of the bank's creditor insurance business, including mortgage life and disability insurance, loan protection products, and credit card balance protection, ensuring that business initiatives are structured and executed in compliance with applicable laws and regulations.
Support product development and promotion by reviewing and drafting legal documentation for new and existing insurance products, including policy wordings, certificate of insurance, and customer-facing disclosures.
Monitor and interpret the regulatory landscape governing creditor insurance in Canada, including guidelines issued by OSFI, FCAC, and provincial insurance regulators, and advise business and compliance teams on the implications of regulatory developments and emerging requirements.
Review and negotiate commercial agreements with insurers, reinsurers, and other service providers, identifying and mitigating legal risk while supporting RBC’s commercial objectives and operational needs.
Oversee complaints matters by providing legal guidance on escalated claims disputes and regulatory complaints, and by working with external counsel where required to protect RBC’s interests and manage exposure.
Collaborate with cross-functional partners including Compliance, Finance, Actuarial, Marketing, and Operations teams to support the end-to-end delivery of creditor insurance programs, providing practical, business-oriented legal advice that enables informed decision-making at all levels of the organization.
Support governance and risk management by contributing to the development and maintenance of policies, procedures, and internal controls relevant to the creditor insurance business, and assisting in the preparation of materials for senior management.
Manage relationships with external counsel and regulatory authorities as needed, coordinating legal strategy on complex matters and ensuring that outside counsel mandates are well-scoped, cost-effective, and aligned with RBC’s broader legal and business objectives.
What do you need to succeed?
Must-have
Member in good standing of a Canadian provincial bar, with a minimum of 10 years of post-call experience in insurance law, financial services regulation, or a related practice area.
Solid understanding of the insurance regulatory framework for bank-owned insurance companies in Canada, including familiarity with OSFI guidelines, provincial insurance legislation, and FCAC consumer protection requirements as they apply to creditor insurance products.
Demonstrated experience drafting, reviewing, and negotiating complex commercial agreements, including insurance policies and third-party service contracts.
Strong ability to identify and assess legal and regulatory risk, and to communicate practical, solutions-oriented advice to non-legal business partners and senior stakeholders.
Proven capacity to manage multiple priorities in a fast-paced environment, working independently while collaborating effectively across legal, compliance, and business teams.
Nice-to-have
Experience working in-house at a financial institution, insurance company, or regulatory authority.
Bilingualism in English and French, written and spoken.
Exposure to digital distribution channels and emerging Fintech or Insurtech developments relevant to insurance product delivery
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
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
A world-class training program in financial services
Flexible work/life balance options
Opportunities to do challenging work
Job Skills
Business Perspective, Coaching Others, Customer Service Management, Decision Making, Financial Regulation, Group Problem Solving, High Impact Communication, Legal Practices, Time ManagementAdditional Job Details
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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Our Employment Opportunities
At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One 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.
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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.