Director, Financial Crimes Model Risk Management

Job Description

The Financial Crimes, Model Risk Management (MRM) Director role is designed to embed model risk management expertise directly within a large-scale development team, facilitating compliance with regulatory requirements and enterprise MRM standards while supporting efficient model development and deployment. This position serves as a critical bridge between model development activities and independent model validation, ensuring model risk is appropriately identified, assessed, and managed throughout the model lifecycle.

The Financial Crimes, Model Risk Management (MRM) Director role is designed to embed model risk management expertise directly within a large-scale development team, facilitating compliance with regulatory requirements and enterprise MRM standards while supporting efficient model development and deployment. This position serves as a critical bridge between model development activities and independent model validation, ensuring model risk is appropriately identified, assessed, and managed throughout the model lifecycle.

• Risk Facilitation:
  Embed MRM considerations into the development process from inception through deployment
• Compliance Enablement:
  Guide the team in meeting regulatory expectations (E-23, SR 26-2, OCC 2011-12) and internal MRM policies
• Quality Assurance:
  Ensure model documentation, testing, and controls meet validation and governance standards
• Strategic Alignment:
  Align model development priorities with enterprise risk appetite and regulatory obligations

• Ensure Financial Crimes AML models comply with the Bank’s Enterprise Model Risk Management Policy and Standard, OSFI Guideline E-23, SR 26-2 (US), and applicable jurisdiction and/or domain-specific governance requirements.
• Establish, enhance, and maintain internal processes, procedures, and standardized templates and language to drive efficiency and consistency in development practices across different AML domains, specifically transaction monitoring, payment and name screening and customer risk rating.
• Maintain the Transaction Monitoring and Client Risk Rating Development Playbook to ensure that the proper guidelines for the development, maintenance, deployment and documentation are followed for all Financial Crimes AML models.
• Review and support model development documentation, validation materials and remediation responses, providing effective challenge and ensuring adherence to AML risk exposure and model governance requirements.
• Provide hands‑on support for model development and documentation efforts; contribute to periodic model assessments and validation activities.
• Lead the remediation of model validation findings, including identifying thematic deficiencies, prioritizing action plans and driving issues through to resolution.
• Oversee and monitor model performance and conduct root‑cause analysis on performance breaches; provide strategic commentary to justify breach and remediation actions.
• Develop, support, and maintain reporting framework for Financial Crimes AML models; present quarterly updates to senior management and executive committees across RBC, CUSO, and any other RBC Legal Entities.
• Support reporting on RAM breaches for both CUSO and Non CUSO models and to provide insights on trending of RAM breaches.
• Act as key point of contact for model risk management matters for AML models; provide advisory and triaging support on internal and cross‑functional projects.
• Manage operational risk matters within the team, including resolution of EIM Issues, maintenance of Archer Controls, and execution of Risk and Control Self‑Assessment (RCSA) initiatives.
• Continuously assess AML model risk and monitor emerging risks arising from model changes, environmental shifts and evolving Enterprise Model Risk Standards, implementing appropriate controls when required.
• Maintain a comprehensive Financial Crime model inventory.
• Maintain a documentation repository with proper version control along with the appropriate approvals.
• Serve as primary liaison between developers and independent validation teams by facilitating validation planning, scoping, and information…