Managing Director, Head of Business Transaction Operations

What is the Opportunity?

The Head of Business Transaction Operations has the primary responsibility to manage, lead, and execute on the responsibilities associated with the operational processing of trading related business within RBC Capital Markets.

The Role is responsible to ensure that all global trade processing, settlement and clearing functions across all products are executed in an efficient and controlled manner.

This role is a critical relationship with business stakeholders across the various trading and sales desks and often a point of contact representing BCS. This individual assists businesses in the construct of complex client transactions to ensure that all legal, tax and compliance regulations are complied with and client service is executed seamlessly.

The role is also accountable to ensure that BCS/SCS strategy is aligned to Capital Markets business strategy to achieve success in its business goals, client service, and adherence to all regulatory and compliance rules.

What will you do?

1. Transaction Operations Management

• Oversee all teams responsible for the execution of post-trade processing from initial trade support through settlement and clearing.
• Support the implementation of new business strategies focused on enabling growth or expansion.
• Manage the teams responsible for trade lifecycle support from front office execution to settlements and clearing, ensuring the booking, amendments, allocations and confirmations are processed correctly and transactions settle and clear.
• Provide key support for clients and internal partners from trade capture-to-settlement, as well as oversight and controls for functions such as asset management, OTC confirmations, reconciliations.
• Provide service to Equity Capital Markets (ECM) and Debt Capital Markets (DCM) Origination Sales staff integrating a variety of operational micro services that is tailored to primary-security origination.
• Responsible for driving a more consistent and common global Settlement and Clearing strategy framework where appropriate.
• Actively monitor workflows to uncover opportunities for efficiencies and oversee the implementation of changes in the areas controls and processes.
• Provide superior quality services and efficient business solutions to meet our internal and external client's unique market driven needs.
• Ensure employees understand RBC's shared vision, RBC Code of Conduct as well as support and reinforce targeted behaviors that contribute to RBC and the area's goals.
• Interface with Global Regulators as needed and seeks out industry trends and applies extensive capital markets knowledge to ensure best in class service.
• Builds and leverages relationships with Business Partners, Service Providers, CCPs, Clearinghouses and other financial industry participants .
• Develops and monitors service quality, dealing with Service Partner/Client service issues in a professional manner.

2. Technology Innovation & Delivery

• Develop and execute on technology automation strategies that results in a scalable and digital infrastructure while maintaining appropriate management control and compliance environment.
• Leads the development of strategic initiatives with the intent to create efficiencies that lower cost of services by introducing automation and leading the deployment of new technology, resource optimization strategies, or process reengineering approaches
• Partner with Technology division to deliver strategic initiatives that drive process. improvement and efficiencies.
• Facilitate the integration of new trade lifecycle management tools that support the middle office functions such as trade booking, confirmations, client allocations and corporate actions.
• Continuously evaluate and innovate the end to end process in order to attain a scalable infrastructure while maintaining an appropriate management control and compliance environment.
• Support all transformational strategies and ensure that appropriate documented procedures, process maps and internal controls are in place to effectively mitigate operational risks and efficiently support trading activities.
• Review processes on an on-going basis to ensure that they continue to be relevant and compliant with Standing Order policies, industry best practices and regulations.
• Stay current on industry trends and the competitive landscape to effectively anticipate operational risks and develop best in class solutions.
• Pro-actively lead the creation of clearly defined, robust, repeatable and scalable solutions. Drive automated STP solutions to minimize risks of manual errors.
• Partner with functional teams (Risk, Finance, Compliance, etc.) to ensure successful implementation of new products (NBC's) and systems; Address issues and Identify accountabilities and process ownership within and outside the BCS team
• Drive and oversee key firm specific initiatives through all stages. Make decisions on course of action and ensure cross functional/departmental issues have been addressed.
• Cultivate strong external relationships for day-to-day dealings with clients, exchanges, CCP's, Vendors and Account Managers.

3. Risk and Compliance Management

• Achieve significant improvements in operational efficiency and client satisfaction through solutions that do not compromise on risk, regulatory or compliance obligations.
• Progress all transformation programs through the internal risk governance frameworks to ensure adherence to RBC standards.
• Implement effective/robust audit controls in accordance with established guidelines and regulations.
• Ensure that the department adheres to the relevant standing order policies and operational procedures including escalation
• Ensure the reporting of breaches of regulatory requirements are escalated in a timely and appropriate manner to the Head of BCS, Compliance and HR functions
• Work to prevent, detect, and eliminate the potential for risk and liability to the Firm
• Ensure sufficient controls are in place to support and sign off the attestation processes, in accordance with the global RBC attestation policy. No overrun on internal/external audit items and regulatory exams
• Maintain and continuously test Business Continuity Plans. Assign accountabilities and ownership within the team.
• Ensure all activities within the area are in compliance with applicable CAD/US/EMEA and APAC industry regulations and standards.
• Active participation in senior global policy, governance and steering committees.
• Ensures adherence of operations risk policies as outlined in policies, procedures, standards and guidelines instructions and ensures processes and controls are in place to minimize operations risk

4. Financial Governance

• Responsible for the financial planning and budget of NIE transits which includes preparing several iterations of P&L, variance analysis, resource planning and cost allocation models.
• Ensure there are no overruns on controllable costs and budgets are managed within plan targets.
• Execute cost reduction opportunities that do not jeopardize risk and control infrastructure or diminish our service level

5. Talent Development and Organizational Change

• Recruit, mentor, and lead high-performing teams specializing in program delivery, project management, and digital transformation.
• Build a high performing team and develop leadership talent by leveraging individual's capabilities and strengths and providing opportunities for stretch assignments.

• Foster a collaborative, high-energy culture focused on innovation and continuous improvement.
• Provide focus and clarity in establishing individual goals, driving performance management, supporting career development and rewarding strong performance.

• Promote a mindset of agility, innovation, and continuous learning.
• Proactively assess obstacles and identifies opportunities to improve overall team performance.
• Responsible for overall team results as measured through established Service Partner Agreements, Employee Opinion Surveys, and various other formal and informal conduits.

What do you need to succeed?

• Deep understanding of capital markets operations, including trade lifecycle management, clearing and settlement systems, and reporting processes.
• Strong knowledge of global regulatory regimes, particularly the US
• Relationships with counterparts and industry groups
• A strong leader with the ability to inspire, motivate, and align diverse teams across geographies.
• Demonstrated ability to recruit, retain, and develop talent in a competitive environment.
• Skilled in building and managing relationships with C-suite executives, regulators, vendors, and technology partners.
• Proven experience negotiating contracts and ensuring vendor performance aligns with project goals.
• Series 24 desired
• Strategic Vision: Ability to anticipate industry and technological trends and translate them into actionable transformation initiatives.
• Execution Excellence: Proven capability to execute daily responsibilities and deliver a change agenda while maintaining a focus on results.
• Risk and Compliance Acumen: Strong understanding of regulatory requirements and frameworks to mitigate risks during transformation.
• Operational Savvy: Deep familiarity with operational processes and interdependencies in capital markets.
• Agility and Adaptability: Adept at managing change in a dynamic, fast-paced environment.

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
• Opportunities to do challenging work
• Opportunities to building close relationships with clients

The expected salary range for this particular position is $300,000- $400,000, depending on your experience, skills, and registration status, market conditions and business needs. You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

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