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This role is part of Securitisation Financing Portfolio Management (SFPM), which is a closely integrated, cross-functional specialized team that provides various critical functions to RBCCM’s Securitisation Finance business within Global Markets. The team provides transactional execution support in the US, Canada, Europe and APAC for Securitisation transactions funded directly on RBC’s balance sheet or via the issuance of commercial paper by one of seven multi-seller RBC administered commercial paper conduits. SFPM also provides on-going at least monthly (some transactions daily) complex collateral monitoring, administration and reporting on a large and diverse portfolio of bespoke private transactions across 25+ asset classes for over 125 clients. SFPM also performs daily management of all aspects of 7 individual finance companies of which 6 are separate and distinct from RBC providing funding to clients through the US & CAD ABCP markets. SFPM is a centre of excellence in supporting structured finance transactions, and this role will also include nuances of operational, compliance, project management, front office origination, finance/accounting responsibilities and compiling data for internal and external constituents and performing a variety of administrative functions to ensure compliance with applicable by-laws, transaction legal documents and internal policies and procedures. RBC’s expectation is that all employees and contractors will work in the office with some flexibility to work up to 1 day per week remotely, depending on working arrangements.
Job Responsibility:
Potential to manage a small team providing oversite of local portfolio and Securitisation Special Purpose Entity (SPE) activities
Work with fellow team members to oversee and coordinate day-to-day management of RBC-administered European SPE (including cash movement, security settlement and currency hedging activities
Serve as first line of defense for on-going collateral monitoring for designated transactions. Identify any portfolio aberrations, deterioration or breaches of deal triggers
Assist with creating and maintaining custom seller report templates used to validate collateral reporting and borrowing base compliance as well as to track historical portfolio information
Enter key monthly portfolio statistics into the Securitisation collateral tracking systems to be able to monitor the risk in each transaction, recalculate the important metrics on the client report and produce reporting
Produce, review, finalize and distribute periodic reporting to commercial paper investors, rating agencies, risk management and other internal and external constituents
Help set portfolio administration standards and metrics to be monitored, and develop procedures and processes to help ensure consistent and accurate reporting for both new and existing transactions
Coordinate and lead deal closing and funding meetings with all relevant parties
Participate in due diligence meetings for new and existing clients
Review deal AUP audit reports and follow-up with Origination team on findings
Assist with the annual external audits of the SPE and periodic internal/external business audits
Develop strong knowledge of transactions and deep understanding of legal documents to be able to populate and maintain deal data in KME proprietary application
Review administration sections of legal documentation, including loan agreements and fee letters, to make sure bank operations (balance sheet deals) or sub-agent (conduit deals) can book and properly administer the transaction
Ensure required deal related documentation is retained
Facilitate with Origination team the on-boarding of new client or refresh of existing client for AML/KYC
Work with internal and external business partners to resolve operational or other issues
Participate in projects to implement new products, transaction types or expansion of existing products to new jurisdictions. Projects may also include enhancement to processes or systems
Proactively identify operational risks/ control deficiencies in the business
Review and comply with Firm Policies applicable to your business activities
Escalate operational risk loss events, control deficiencies and risks that you identify to your line manager and the relevant risk and control functions promptly. Failure to do so may subject you to disciplinary action, up to and including termination
Requirements:
MBA or undergraduate degree: finance, economics, accounting or mathematics
Proven experience of relevant Securitisation at a financial institution, rating agency, issuing client or buy-side firm is required
Solid understanding of capital and credit markets
Strong attention to detail
Strong quantitative and analytical skills
Ambitious individual with strong presentation skills
Possess strong written and oral communication skills
Ability to prioritise and effectively manage a large workload in a high-pressure environment
Ability to multi-task with little supervision
Ability to interact effectively and establish good working relationships with other personnel within RBC Capital Markets and external clients
High proficiency in Word, PowerPoint and Excel
Nice to have:
Previous experience with European ABCP Conduits preferred but not required
What we offer:
A comprehensive Total Rewards Program including bonuses, flexible benefits and competitive compensation
Leaders who support your development through coaching and managing opportunities
Opportunities to work with the best in the field
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