Associate Director, Climate Risk Modelling and Model Governance

What is the opportunity?

Global Risk Analytics (GRA) is the center of expertise for models used in risk management, covering market risk, counterparty credit risk, and emerging risk. The GRA Climate Risk Modelling and Model Governance team is responsible for the conceptualization, design, implementation, and maintenance of both physical and transition climate risk modeling frameworks.  These models serve as fundamental tools for quantifying and assessing climate related risks across the enterprise. The team's scope includes alignment with evolving regulatory expectations, compliance requirements, and adherence to established industry best practices and methodological standards.  

The team also provides governance of departmental activities and support GRA senior management in developing strategic plans, tracking progress, and compiling reports on model enhancement and development projects.

GRA is seeking an individual who is an expert in climate physical and/or transition risk analysis and is passionate about applying innovative data analytics and strong programming skills to enhance our climate risk analytics capabilities.

Your responsibilities will cover both Climate Risk Modelling and GRA Model Governance activities.

What will you do?

• Develop quantitative models and perform scenario analysis to estimate transition and physical risk of climate change (with focus on wildfire, flooding, storm, earthquake, etc.) on Bank’s corporate and retail lending portfolios.
• Perform data processing, statistical analysis, modeling and visualization using Geographic information system (GIS) software.
• Collaborate with internal stakeholders to determine business needs, source data, integrate models into Bank’s processes, and supporting stress testing functions.
• Collaborate with vendors including external data providers to integrate and validate their outputs, while conducting comprehensive benchmarks using open-source hazard datasets.
• Build, enhance, and automate processes to facilitate ongoing monitoring and maintenance of models. Execute quarterly/monthly processes and be accountable for the timely analysis of results. Handle ad hoc request as required.
• Document all models and processes developed and work with the model validation team to ensure timely and successful validation.
• Support Model Governance and Integration processes within Global Risk Analytics to ensure it operates with high efficiency and meets requirements of Second and Third lines of defence.
• Support GRA senior management in developing strategic plans, tracking progress, and compiling reports on model enhancement and development projects.

What do you need to succeed?

Must-have

• 3+ years of experience in Financial Risk, Climate Science or Environmental Consulting
• Advanced degree (Master’s/PhD) in a quantitative, technical, or interdisciplinary discipline (e.g., Statistics, Financial Engineering, Applied Mathematics, Climate Science, Spatial Analysis, Computer Science);
• Experience with data science, probabilistic modelling, and ability to manipulate large amounts of data;
• Experience independently building quantitative models including climate hazard models;
• Research oriented mindset;
• Familiarity with Spatial Data Analysis and experience with Geographic information system (GIS) software;
• Proficiency in Python/R;

• Solid statistical and mathematical knowledge with attention to details;
• Strong communication skills and ability to communicate with variety of stakeholders.

Nice-to-have

• Familiarity with climate related financial regulations;
• Hands-on experience with RCP (Representative Concentration Pathways), SSP (Shared Socioeconomic Pathways) scenarios, and CMIP5/6 datasets;
• Experience working with geographical data structures like NetCDF, Raster, Shape files;
• Familiarity with geographic data processing packages including Fiona, GeoPandas, Shapely, Rasterio, Xarray, and GDAL;
• To be a team player ready to collaborate and innovate;
• Understanding of the overall risk management function within a bank;
• Knowledge of financial products in banking and trading book.

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.

• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work and make a difference.
• Opportunities to building close relationships.

Job Skills

Critical Thinking, Data Science, Financial Instruments, Financial Regulation, Geographic Information Systems (GIS), Quantitative Methods, Risk Management, Risk Modeling, Spatial Analysis, Statistical Analysis

Additional Job Details

ROYAL BANK PLAZA, 200 BAY ST:TORONTOTorontoCanada37.5Full timeGROUP RISK MANAGEMENTRegularSalaried2026-03-102026-03-28

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.