Managing Director - Head, Client Onboarding Services, Client Lifecycle Management Group (CLM)

What is the opportunity

This position plays a key role in developing and executing upon the Client Onboarding Services strategy and goals within Capital Markets. As part of wider CLM function, this role is primarily responsible to ensure regulatory risk & controls compliance with local and international regulations for client records and documentation, providing strategic leadership across the Client Onboarding Services and collaborating with internal and external stakeholders. 

•    Lead the global Client Onboarding Services team, and strategically build a compliant and sustainable: 

• QA / QC function for client onboarding due diligence across KYC, regulatory, tax, and trade document processing adhering to global tax, KYC and anti-money laundering (AML) regulations and regulatory obligations, and all related client compliance eligibility documentation activity. 

• Monitoring & risk management service for Capital Markets rooted in a foundation of continuous process improvement and operational control for Client eligibility and compliance. 

• Regulatory reporting & compliance program that adheres to bank policies and compliance requirements. 

• Interaction model with the 2nd and 3rd lines of defense and external regulators and auditors. Coordinating across all CLM business functions engagements, interaction and delivery on any deemed actions. 

• Identify and lead the strategic adoption and rollout of CLM solutions Corporate Asset and associated services across the RBC Group, including the implementation of BAU and remediation support, consolidating cross functional services and leveraging existing external services where required. Represent CLM on cross platform initiatives where required. 

•    Responsible for regional oversight of the Client Lifecycle Management Group functions (CLM) in Europe and APAC. It is not responsible for the functional strategy for those functions outside of Client Onboarding Services but is a key partner in ensuring the global strategies are executed upon within the region.
•    Represent RBC Capital Markets at related industry forums, helping to influence and shape new regime standards, discuss new regulatory changes, and impacts to ensure RBC Capital Markets and supported platforms remain compliant and up to date with industry best practices.   Building industry networks with peer organizations and 3rd party providers to enable the Client Lifecycle Management organization to evolve and provide a differentiated service. 
•    Oversight of teams providing support & services to RBC GmBH (Germany) and other European entities.

What will you do ?

Lead the Client Onboarding Services teams comprised of highly specialized staff responsible to ensure Regulatory Risk & Controls Compliance. Specific responsibilities include

• Regulatory risk & controls compliance

  • Management & governance functions within Client Onboarding Services: KYC Operations (Onboarding Maintenance, Refresh and Offboarding), tax onboarding, and trade documentation processing

  • Operational adherence to AML, Regulatory and Tax requirements through QA / QC validation of client data & documents, and processing of regulatory requirements.

  • Constantly review all Client Lifecycle Management Group functionals and pillars for centralization, and optimization of activities relating to validation, verification, and due diligence relating to client documentation and eligibility for RBCCM.

  • Ensuring tax due diligence compliance for onboarding new clients (including review and validation of client tax documents with necessary escalations for tax exceptions to Taxation Group)

  • Oversee the data entry and setup for new clients and simple fund amendments for existing clients

  • Escalation and regional oversight of the following CLM Functions outside of Client Onboarding Services Control: Client Success Team, CLM Product Owner, Analytics & Quality Team, Client Acct & Enablement Grp and Tax Operations (withholding and reporting)

  • Co-ordinate and chair the global Client Lifecycle Management organizations monthly risk and control forum, tracking risks and status on outstanding audit and regulatory items, monitoring existing and future risks, advising and managing adherence to the Capital Markets first line of defense policies that impact the group, with clear communication and escalation of risk.

• Regional stakeholder management

  • Management and effectively controlling the CLM activities for RBC Europe Limited and RBC London Branch, which has been delegated by Managing Director, Head of Business and Client Services, Europe and APAC

• Regulatory stakeholder engagement

  • Manage interactions with the 2nd line of defense as it relates to onboarding and maintaining client relationships

  • Own underlying data, prepare, coordinate and lead responses to 2nd and 3rd line of defense reviews/audits and with external regulators and auditors

  • Lead regular risk and control forums

  • Liaise with internal teams (BCS Risk & Control Governance, FCOT, HRC, AML, etc.) and external regulators as appropriate to implement controls, reporting, monitoring, etc.

Responsible for effectively controlling the Client Onboarding Services Group activities in accordance with the applicable Conduct Rules by:

• Driving a culture of integrity by promoting open, honest and transparent dealing in the day-to-day operations of the Business and Client Services function including escalation as appropriate

• Ensuring that the reporting lines, responsibilities and expected knowledge and skills are clear to staff in the Business and Client Services function and that all staff are capable, competent and able to perform their roles

• Identifying, planning and negotiating suitable resource levels to meet business and budget objectives, managing associated conflicts and deadlines

• Being accountable for the conduct risk profile for Business and Client Services and ensuring appropriate remediation activities are identified and implemented

• Representing Business and Client Services on internal and external committees

• Overseeing first line responsibility for operational risk

• Driving a culture of appropriate market conduct behavior

• Adhering to organizational and administrative arrangements in order to manage conflicts of interest.

• Identifying, escalating, and remediating issues within the Business and Client Services function that could directly or indirectly lead to the unfair treatment of customers of RBC Europe Limited / London Branch

• Ensuring that there are open and effective channels within the Business and Client Services function for the escalation and reporting of issues both at the regional / functional level as well as at the requisite governance committees. Utilizing the appropriate escalation tools where required

• Ensuring the reporting of breaches of the relevant requirements of the regulatory system in a timely and appropriate manner to the compliance and HR functions

• Ensuring that staff in the function adhere to mandatory training requirements and receive necessary additional training as required and appropriate for their role

Authorities, Impact, Risk

• Proactively identify operational risks/ control deficiencies in the business

• Manage and enforce standing orders and compliance related polices and controls, and Internal Audit. Be accountable for the ongoing validity & review of procedures and control framework.

• Escalate operational risk loss events, control deficiencies and risk that you identify to your line manager and relevant risk and control functions promptly.

• Operate independently in running the assigned area of responsibility with direction from the Head of European and APAC BCS regionally and the Head of CLM Group globally and would be required to refer/escalate matters of an unusual nature.

• Reviews and approve expenses within budget, ensure fiscal compliance.

• Recommends salary increases, bonuses and promotions.

• Regional point of escalation and contact and accountable to external regulators and governing bodies.

• Centralized execution of post-onboarding activities including periodic reviews, document refresh and client outreach

• Execution of remediation & regulatory uplift programs to meet evolving regulations.

People Leadership

• Selects and builds high performing teams, leveraging individual capabilities and strengths.

• Provides coaching, mentoring and professional development that further embeds the right cultural norms and values.

• Actively works to identify future leaders, ensuring high employee engagement and promotes positive communication.

• Takes a strategic view of resourcing and reskilling to accommodate changes in the business as well as evolving regulatory requirements and technology.

• Drives a client first and change culture throughout the organization.

What you need to succeed?

• Proven leadership experience of minimum  10 years  in Capital Markets with a focus on client experience and onboarding alongside a total relevant work experience of 5 years

• In-depth knowledge of financial regulations, compliance requirements, and industry best practices

• Strong strategic thinking, problem-solving, and decision-making skills

• Excellent communication and interpersonal abilities to effectively liaise with diverse teams and clients

• Track record of driving operational excellence and optimizing onboarding processes

• Visionary mindset with the ability to innovate and adapt to evolving market dynamics

• Demonstrated experience in defining and establishing new business processes and forming strong relationships across front office businesses and functions

• Experience shaping and evolving the role and will have extensive experience operating in a highly complex and somewhat ambiguous environment to create a transformation plan that will guide to the right outcomes

• Accordingly, they must have the professional agility and adaptability necessary to lead this evolving function successfully

• experience/understanding of AML/KYC Capital Markets

• Behavioural Leadership, Problem Solving, Continuous Improvement, Partnership & Collaboration,

• Technical Knowledge of products and operations of Capital Markets Investment Banking

• Project team lead experience in supporting the delivery of components of complex projects

• Formal qualification at Graduate or Post Graduate Level, additional professional qualifications

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

• Leaders who support your development through coaching and managing opportunities 

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Flexible work/life balance options

Job Skills

Adaptability, Business Performance Management, Customer Service, Decision Making, Interpersonal Relationship Management, Operational Delivery, Process Improvements, Time Management

Additional Job Details

RBC CENTRE, 155 WELLINGTON ST W:TORONTOTORONTOCanada37.5Full timeCAPITAL MARKETSRegularSalaried2025-01-242025-02-07

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