Director, Cash Management Services Operations

Royal Bank of Canada - Minneapolis, MN

Full-time - Senior

Hybrid - Minneapolis, MN

Credit Intermediation and Related Activities

About the position

As the Director of Cash Management Services Operations at RBC Wealth Management, you will play a pivotal role in shaping the future of the organization. This position is designed for a leader who can drive the overall business strategy to support the firm's strategic growth while leading transformation initiatives that create meaningful change in service standards, innovation, and risk management. You will collaborate with various partners across RBC, building trust to enable changes that will have a lasting impact on the organization. Your exceptional leadership experience will be crucial in unlocking the potential of your teams, inspiring them to be curious and innovative, and fostering a culture of well-being and belonging. In this role, you will lead and manage the Cash Management Services Operations teams, ensuring that overall performance meets or exceeds established industry, regulatory, and company standards for service, innovation, and professionalism. This includes overseeing functional teams such as Money Market and Bank Deposit Sweep Operations, Wire Transfer, Check Processing, and ACH Processing. You will be responsible for managing the department budget, financial forecasts, staffing models, and compensation administration. Additionally, you will lead the development and execution of business plans for the department, partnering with the Capital Markets Team to facilitate Wealth Management client transactions and collaborating with business leaders to enable future growth and efficiencies. Your responsibilities will also include ensuring adherence to US Wealth Management procedures and policies, providing training and coaching for team members, and overseeing complex exception-based department deliverables to ensure effective risk management and regulatory adherence. You will monitor the implementation and effectiveness of new technology solutions and processes to enhance service delivery and reduce expenses, providing feedback and guidance to managers as necessary.

Responsibilities

• Lead and manage the Cash Management Services Operations teams to ensure overall performance meets or exceeds established standards.
• Manage department budget, financial forecasts, staffing models, and compensation administration.
• Lead the development, recommendations, and execution of business plans for the department.
• Partner with the Capital Markets Team on funding to facilitate Wealth Management client transactions.
• Ensure adherence to US Wealth Management procedures and policies, completed accurately and within service level agreements and regulatory guidelines.
• Provide training, coaching, recognition, and development for team members; fostering teamwork and planning for succession.
• Oversee complex exception-based and/or highly specialized department deliverables and processes to ensure effective risk management and regulatory adherence.
• Monitor implementation and effectiveness of new technology solutions and processes to increase service quality and reduce expenses.

Requirements

• 4-year degree from an accredited university or equivalent OR High school diploma or equivalent AND 7+ years of securities, banking, technology and/or job specific industry experience
• License FINRA SER 7 or 99 required
• 10+ years prior securities, banking, technology industry and/or job specific related experience
• Understanding of Net Capital and Funding a plus
• 7+ years Broker dealer cash management operations, project management, vendor management, analysis, and/or risk control experience
• 7+ years demonstrated and sound leadership experience; both direct and indirect leadership

Nice-to-haves

• Knowledge of Net Capital Rules and impacts of the calculation driven from client cash movements
• Experience with Fraud processing
• Proven leadership in driving technology changes including innovation
• FINRA SER 27 preferred

Benefits

• Comprehensive Total Rewards Program including great benefits and annual incentive program
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Flexible work/life balance options
• Positive work culture emphasizing diversity and inclusion, volunteerism and community involvement