Director of Product Innovation

What is the opportunity?

• Join our growing Global Asset Management (GAM) team at RBC! We are seeking a Director of Product Innovation to lead our efforts in expanding our product suite across asset classes and channels.
• The Director of Product Innovation is a newly-created, senior role within RBC GAM's US Distribution business, established to drive the firm's product innovation agenda and ensure we are consistently bringing compelling, market-relevant investment solutions to market ahead of the competition.
• This is a strategic, commercially driven role for someone who thrives on identifying and translating industry trends, client demand signals and competitive intelligence into a structured pipeline of new product opportunities for the US business.
• The Director of Product Innovation will work closely with the client-facing teams across channels, IPMs and investment teams, and other key functional business partners across the global organization to ensure new product ideas are rigorously evaluated, efficiently progressed and successfully launched.

What will you do?

Product Innovation & Pipeline Development

• Own the new product innovation agenda, proactively identifying, developing and championing new investment product opportunities across all asset classes and distribution channels
• Build and maintain a structured, living product pipeline, ensuring every idea in the pipeline has a clear owner, a defined timeline and a rigorous business case
• Act as the primary intake point for product ideas originating from the Institutional Portfolio Management (IPM) team, investment desks, Sales and Distribution leadership and senior management, evaluating each idea against strategic fit, market timing, commercial viability and operational feasibility
• Continuously monitor the competitive landscape, regulatory environment, industry flows and evolving client demand to identify compelling commercial opportunities and emerging trends
• Generate original product ideas independently, drawing on deep knowledge of the US asset management industry, distribution dynamics and the competitiveness of the existing product suite
• Play a leading role in the identification and through due diligence of potential inorganic product expansion ideas
• Challenge the status quo on the existing product suite, identifying strategies that are no longer competitively positioned and making the case for rationalisation where appropriate
• Develop compelling go-to-market strategies for newly approved products, working closely with Distribution, Marketing and the IPM team to ensure every launch is well-positioned, well-timed and well-supported
• Ensure new products are launched with the right vehicle structure for the right channel, drawing on deep expertise across mutual funds, active ETFs, interval funds, SMAs, CITs and sub-advisory structures
• Define the target client and channel strategy for each new product, with a clear view of where the opportunity is largest and how to sequence the distribution effort

Product Governance & Oversight

• Represent the US Distribution business on various Funds Boards, New Product Committees and senior governance forums, presenting new product proposals with confidence and authority to senior internal and external stakeholders
• Own the preparation of all product governance materials, ensuring proposals are commercially robust, strategically coherent and clearly articulated
• Work closely with Legal, Compliance and other key stakeholders to navigate the approval process efficiently, building the proactive relationships needed to accelerate speed to market and eliminate potential bottlenecks

Vehicle & Structure Expertise

• Serve as the firm's primary subject matter expert on all potential US investment vehicle types, advising the IPM team, Distribution, Legal and Compliance on the optimal structure for new product ideas as they progress through the pipeline
• Stay ahead of regulatory and market developments that could create new vehicle opportunities or render existing structures less competitive
• Advise on pricing, share class architecture and fee positioning for new products, ensuring commercial competitiveness from day one

Global Collaboration

• Serve as the primary US liaison to the Product teams in other regions, establishing a regular, structured dialogue to share pipeline thinking, identify cross-regional product opportunities and ensure the US innovation agenda is informed by global perspectives
• Represent US distribution needs and client demand signals back into the global product conversation, ensuring the US voice is heard clearly in any globally coordinated product development effort
• Identify opportunities to adapt or repackage existing global strategies for the US market, reducing time to market by leveraging what the firm already manages

What do you need to succeed?

Must-have

• Minimum 10-15 years in asset management, with a significant and demonstrable focus on product innovation, new product development or product strategy
• A credible track record of bringing new investment products to market, originating and championing ideas from concept through to launch
• Deep experience across multiple US vehicle types including active ETFs, interval funds, mutual funds, SMAs and other emerging structures - with a clear view on where the market is heading
• Outstanding knowledge of the US competitive product landscape - who is launching what, where the flows are going, and where the white space is
• Strong understanding of US fund regulation and the product approval process
• Experience working across multiple distribution channels - institutional, intermediary, RIA and sub-advisory - with a clear understanding of what each channel needs from a product
• A genuine curiosity and passion for product innovation
• Deep commercial instinct and ability to assess whether a product idea has real legs or is a solution looking for a problem
• Proficient computer skills with specific experience utilizing Microsoft Office (Excel, Word and PowerPoint) and keen interest to learn how to use proprietary in-house systems.
• CFA / CAIA designations or willing to work towards strongly preferred.

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 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.

The expected salary range for this particular position is $154,000-$253,000, depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

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.