Securitization Financing Portfolio Management - Analyst

PURPOSE:

• This role is part of Securitization Financing Portfolio Management (SFPM), which is a closely integrated, cross-functional specialized team that provides various critical functions to RBCCM's Securitization Finance business within Global Markets. SFPM provides transactional execution support in the US, Canada, Europe and APAC for securitization transactions either 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 securitization 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 center 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

PRINCIPAL RESPONSIBILITIES:

• Work with fellow SFPM team members to oversee and coordinate day-to-day management of 2 US RBC-administered ABCP conduit programs
• 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 and store historical portfolio information
• Enter key monthly portfolio statistics into the securitization 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 2 US ABCP conduits and periodic internal/external business audits
• Develop knowledge of transactions and 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

JOB SPECIFICATIONS AND QUALIFICATIONS:

• MBA or undergraduate degree: finance, economics, accounting or mathematics preferred but not required
• 1-3 years of prior Securitization experience at a financial institution, rating agency, issuing client or buy-side firm is preferred but not 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 prioritize and effectively manage a large workload in a high-pressure environment
• Ability to multi-task with little supervision
• Ability to interact effectively & establish good working relationships with other personnel within RBC Capital Markets and external clients
• High proficiency in Word, PowerPoint & Excel

AUTHORITIES, IMPACT, RISK:

• The position is based in Wilmington, DE
• This role requires daily close integration with various RBC Securitization origination teams to ensure successful transaction execution, administration, collateral monitoring and reporting for bespoke securitization and structured products transactions
• The employee is expected to conduct themselves in a manner that is consistent with the Securitization Financing group's business strategy of providing high quality products and services for RBC's clients
• Employee is expected to identify and quantify the materiality of transaction and product risk, thereby providing a favorable risk/return profile for RBC in its various capacities
• All respective approvals (business, credit, conduit) will be obtained for all transactions and activities as needed
• Risks inherent in the Securitization Finance business include: credit risk, liquidity risk, documentation risk, mismatch risk, structural risk, servicing/administrative risk, complexity risk and reputational risk

KEY RELATIONSHIPS

Internal

• Various origination teams in Securitization Finance
• Various operations groups in US, Canada, UK and APAC
• Financial and Regulatory Reporting groups, both local and head office
• Compliance
• Group Risk Management
• Legal Department
• Tax Department

External

• Clients
• Other Financial Institutions
• Rating Agencies
• Legal Firms
• Conduit Equity Provider
• Outside Vendors

WORKING CONDITIONS

• Position may require limited travel to other US and international RBC offices
• Working conditions are stressful at times
• Considerable attention to detail is required
• Hours may be long and can be highly unpredictable at times
• The employee should be able to prioritize and multi-task in a fast-paced environment to effectively manage the primary responsibilities for this function

Job Skills

Additional Job Details

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

Inclusion and Equal Opportunity Employment

At 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.

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.