What is the Opportunity?

As part of the Group Risk Management (GRM) team, the Director, Corporate Insurance Risk Management (CIRM) will oversee the annual insurance renewal program to enable CIRM to fulfill its mandate and achieve its objectives. This role partners and collaborates closely with other CIRM Team members, internal stakeholders and external partners to oversee the renewal process; advise stakeholders across RBC on M&A and other insurance advisory requests; support claims management activities and processes; and continuously identifies opportunities to optimize RBC’s insurance program.

The Director, Corporate Insurance Risk Management will report to the Vice President, Third Party, Business Continuity, Crisis and Corporate Insurance Risk Management.

Note: This is a Maternity Leave coverage for 12 Months with option to extend depending on business needs

What will you do?

• Uphold the strategy, culture and activities that enable the team to operate as an integrated department
• Support a culture of integrity and behaviors that align to RBC’s Code of Conduct and professional standards
• Work collaboratively with the CIRM Team and across teams, contributing to an engaged workforce who are effective, knowledgeable and adaptable
• Foster an environment of continuous personal growth
• Act as the key point of contact in managing productive relationships with industry partners, including insurance brokers, insurers, legal counsel, peers, and consultants as required
• Oversee the annual insurance renewal/purchase process, including property and casualty, with financial lines experience an asset
• Review of insurance binders, policies, endorsements upon renewal to ensure accuracy, completeness, and consistency with terms bound
• Review of the global program premium methodology and determine premium allocation
• Continuously identify opportunities to optimize and evolve RBC’s insurance program within the risk appetite
• Identify new and emerging risks and manage with potential insurance solutions
• Preparation of informational insurance summaries as required
• Contribute to initiatives as requested
• Advise RBC partners on insurance aspects of mergers & acquisitions, divestitures, new products and services to manage and mitigate risks
• Respond to regulatory inquiries and due diligence requests for information about RBC’s insurance
• Oversee the process of providing guidance and recommendations with the review of insurance provisions in vendor/supplier agreements, leases, and other documents as required
• Support the Claims Manager by providing advice and expertise regarding the management of claims where required
• Contribute to the annual Corporate Insurance Review for RBC Board of Directors reporting and local subsidiary board reporting
• Conduct research and analysis to identify new and emerging risks and trends to recommend loss transfer solutions
• Provide RBC business units with insurance training to support the review of supplier vendor contracts
• Other CIRM training/awareness as needed

What do you need to succeed?

Must Have

• Minimum of 10 yrs experience in either risk management, claims, underwriting, brokerage experience or similar experience (e.g. paralegal)
• Proficient in insurance contract reviews and understanding insurance policies
• Experience in risk management (1LOD or 2LOD) or related field, knowledge of financial services products, processes, and regulatory environment
• Experience working in a matrixed environment, and coordination of work across a large number of stakeholders
• Ability to foster collaborative relationships with partners across 1st and 2nd LOD and with key external partners

Nice to Have

• Familiar with the lifecycle of insurance purchase and renewal
• Knowledge of alternative risk transfer products and programs
• Proficiency with Bank technology- Knowledge  of Microsoft Applications - at a minimum Basic Word, Excel, Power Point.
• Advanced oral and written communication skills, including presentation and training skills
• Strong ability to influence through personal style and finesse rather than authority
• Advanced research skills – attuned to industry trends, events
• Analytical mind – ability to break down and work through complex problems in a detailed, accurate, and complete manner
• Proven ability to anticipate and identify risks and effective mitigants
• Action oriented, proactive with a high degree of initiative
• Ability to prioritize and work in a deadline driven environment
• Drives change and encourages continuous improvement of procedures and processes

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 and competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact 
• Flexible work/life balance options
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work

Job Skills

Additional Job Details

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

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One 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.