This role is an entry-level opportunity that will give the incumbent exposure to the asset/liability management strategy and operations of an insurance investment department. It is an ideal position for a graduate student or senior undergraduate student with career aspirations related to insurance finance and/or investments.

The primary objectives of this position are to (a) support the actuarial function within the RBC Insurance Investments department, and (b) support the fixed-income trading operations of the Investments department. The incumbent will be expected to “roll up his/her sleeves” to do reporting and production work, but will also have an opportunity to see how that work fits within the bigger picture of the financial results of RBC Life.

The role will report to the Associate Director, IFRS17 ALM, Insurance Investments

What will you do?

Trading Operations Support: assist the public markets trading team via the following means of operational support:

• Management and resolution of securities settlements on a daily basis
• Cash and collateral monitoring and management
• Execution and management of repo transactions and transactions to hedge UL equity exposures
• Management of information requirements and projects to improve reporting processes

ALM Optimization: collaborate within the Investments team to optimize asset/liability management (ALM) processes.

• Consolidate asset information from Bloomberg to validate asset portfolio composition and performance. Will require learning how to generate and check the Bloomberg asset extract.
• Optimize investment processes and procedures to deliver accurate and reliable information on asset portfolio holdings. Will involve various checking and testing routines.

Risk Reporting: Monitor and report on investment risk metrics, ensuring compliance with internal policies and external regulatory requirements. Develop an understanding of key risk exposures and how we manage them.

• Develop and/or support production of regular risk metrics and reports. Be able to explain the components and movements in the reports.
• Analyze potential asset trades and understand/explain whether the proposed trades fit within the dual mandate of the investment department – minimize risk and maximize yield.

What do you need to succeed?

Must-have

• Good academic record

• Strong technical and analytical skills such as Excel modeling and/or coding (for example visual basic, GGY Axis)
• Detail-oriented, problem-solving ability and highly motivated self-starter
• Team player, who is willing and able to do tasks that free up time for more senior members of the Investments team
• Ability to work collaboratively across RBC Insurance (Investments, Finance, and GRM-Insurance) to collect necessary data and results and subject matter expert opinions

Nice-to-have

• Some investment experience
• Familiarity with Bloomberg tools
• Understanding of IFRS 17 standards and requirements for discounting of insurance liability cash flows
• Understanding of liquidity and duration characteristics of various insurance products
• Understanding of fair value pricing of various asset types, specifically fixed income
• Comfort with various interest rate modeling techniques related to interpolation, extrapolation plus how short/long term interest rate assumptions can be calibrated.

Please note:

In order to be eligible for these student positions, you must either:

• Be returning back to school after the work term end-date; or
• If you are not returning back to school (i.e. are graduating immediately after the work term), you must require the full work term as a mandatory component in order to graduate successfully

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. At RBC, you will have opportunities to:

• Interact with leaders who support your development through coaching and managing
• Network and build lasting relationships with students from diverse backgrounds from across Canada
• Make a difference and lasting impact through meaningful work
• Work in a dynamic, collaborative, progressive, and high-performing team

Analytical Thinking, Analytical Tools, Communication, Detail-Oriented, Fixed Income Investments, IFRS 17, Interest Rates, Interpersonal Relationships, Microsoft Excel, Microsoft Visual Basic

Additional Job Details

MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGAMISSISSAUGACanada37.5Full timeINSURANCEStudent/Coop (Fixed Term)Salaried2024-09-162024-09-30

Inclusion and Equal Opportunity Employment