Description
Royal Bank of Canada is seeking an experienced Managing Director to lead our enterprise Foreign Exchange (FX) Operations function.
This is a strategic leadership role overseeing FX settlement, clearing, trading support, and operational infrastructure across all business lines and global centers.
You will drive operational excellence, manage enterprise-wide FX operations governance, and ensure world-class service delivery while maintaining the highest standards of regulatory compliance and operational risk management.
Responsibilities
- Develop and execute enterprise FX operations strategy and governance frameworks aligned with regulatory requirements and RBC Group standards; establish strategic priorities and drive continuous improvement initiatives
- Oversee FX settlement and clearing operations across all currency pairs and markets, including pre-settlement matching, SWIFT messaging, nostro account management, and clearinghouse interactions; ensure settlement integrity and minimize settlement risk
- Direct FX trading support services including order management, trade execution support, client confirmations, and settlement coordination; ensure timely and accurate trade processing
- Establish and maintain comprehensive operational and settlement risk controls, counterparty credit limits, and compliance procedures aligned with OSFI, FINTRAC, and international standards
- Manage and develop a high-performing team of FX operations professionals across global centers; foster a culture of operational excellence, risk awareness, and continuous improvement
- Oversee FX technology platforms, trading systems, settlement systems, and risk management infrastructure; identify and implement system enhancements to improve efficiency and resilience
- Establish incident management and business continuity procedures; ensure timely resolution of operational issues and regulatory compliance
- Collaborate with global markets trading teams, treasury, risk management, and external counterparties; serve as senior point of contact for FX operations matters with leadership and regulators
- Drive performance metrics and reporting on settlement success rates, operational efficiency, and risk indicators; provide regular updates to senior management on operations performance and strategic initiatives
Requirements
- Minimum 12 years of progressive experience in FX operations, trading support, or settlement operations, with at least 6 years in a senior leadership or management capacity at a tier-1 global financial institution
- Deep expertise in FX trading operations, settlement procedures, clearing processes, SWIFT standards, and nostro account management
- Proven track record building and leading high-performing operations teams in a complex, fast-paced trading environment
- Strong understanding of financial services regulations including OSFI guidance, FINTRAC requirements, and international FX market standards
- Demonstrated expertise in operational and settlement risk management, with ability to establish effective controls and governance frameworks
Nice-to-have
- Master's degree (MBA or equivalent)
- SWIFT certification, Certified Treasury Professional (CTP), or Certified Financial Risk Manager (FRM) designation
- Experience with post-trade infrastructure, market infrastructure provider standards, or emerging technologies in operations (blockchain, distributed ledger technology)
- Background with RBC or other tier-1 global banks in FX or treasury operations
What's in it for you?
- A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off
- 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
- Opportunities to build close relationships with clients