Senior Manager, Defined Benefit Pension

Job Description

What is the Opportunity?

• As the Senior Manager, Defined Benefit Pension Plan Management, you will be responsible for the ongoing management and compliance of all RBC's Canadian Defined Benefit (DB) pension plans, including governance, legislative compliance, funding, risk management, vendor management, and executive pensions.

• You will manage the third-party vendors for these DB plans and partner with internal stakeholders, including Human Resources Operations and Advice Centre, HR business partners and other areas of RBC such as Corporate Treasury, Legal, Finance, IT, and Corporate Communications in overseeing program delivery, communication, day-to-day management, issue resolution and policy interpretation.

• RBC's Canadian DB plans cover over 60,000 active, retired and deferred members, with over $14 billion in pension fund assets.

What will you do?

Plan Governance and Compliance

• Responsible for monitoring changes to pension legislation and trigger event assessments to identify the impact on RBC pension plans.

• Lead all required annual pension regulatory filings, partnering with external providers to ensure timely and accurate submissions.

• Partner with internal and external partners on annual pension audits and reporting.

• Provide support on funding and financial reviews of the DB pension plans.

• Provide support to the governance process for all RBC's Canadian DB pension plans, including preparation of materials for reporting to Pension Plan Management Committee and Board.

Ongoing DB Plan Management/Operations

• Provide guidance and support on the administration, policies and processes in respect of all RBC's Canadian DB pension plans.

• Partner with the HR Operations team and external vendors on the implementation of program changes, ensuring compliance with legislation and robust ongoing management of the DB pension plans.

• Provide senior-level guidance to HR Operations team on complex member cases and member escalations.

• Provide support and coaching to the HR Operations and Advice Centre on administrative issues and member escalations.

• Lead pension communications to employees and retirees, including management of the production of annual pension statements, pension notices, preparation of FAQs, and other communications to build employee understanding of RBC's DB plans.

Executive Pensions & Member Communications

• Manage RBC's executive (DB and DC) pension arrangements, including administration processes, and proxy reporting.

• Provide support in preparation of new Executive Agreements, executive pension calculations, and general pension-related executive support.

• Manage the production of annual executive statements and laisse as pension SME contact for Executive Reporting team.

Vendor Management

• Manage relationships with third-party vendors, including reconciliation and payment of invoices, and evaluating performance against service level agreements.

• Partner with Risk Managers to effectively comply with RBC's operational risk requirements, including conducting risk assessments and periodic risk reassessments for third party vendors, model risk assessment, exit strategy, required controls and testing evidence.

• Support and maintain third-party compliance with new and existing regulatory requirements, including any related assessment activities and evidence requirements.

What do you need to succeed?

Must-have:

• 8 to 10 years of pension experience in a similar level role with a large complex organization or consulting firm.

• Bachelor's degree in mathematics, Actuarial Science, Finance or a related field.

• Deep knowledge of Canadian federal and provincial pension rules.

• Strong analytical skills and attention to detail, with proven ability to analyze complex situations, synthesize information, understand issues, identify options, and support sound decision making; and integrate information from different sources into a coherent view.

• Strong stakeholder management and relationship management capabilities, with proven ability to manage multiple competing projects and priorities.

• Excellent written and verbal communication skills.

• Excellent technical skills using the Microsoft suite (Word, Excel, PowerPoint).

• Project management skills are an asset.

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, competitive compensation.

• Ability to make a difference and lasting impact.

• Work in a dynamic, collaborative, progressive, and high-performing team.

Job Skills

Annuities, Critical Thinking, Group Problem Solving, Insurance Finance and Actuarial Concepts, Mathematical Finance, Membership Management, Risk Analysis

Additional Job Details

Address:

ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

HUMAN RESOURCES & BMCC

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-02-04

Application Deadline:

2026-02-18

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

Inclusion and Equal Opportunity Employment

At 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.

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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.