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Jan Varsava
Sr. Manager, Enterprise Market Risk at RBC Capital Markets
Professional Background
Jan Varsava is a distinguished professional in the field of finance, renowned for his expertise in market risk management and innovative financial solutions. His remarkable journey began with an internship at CIBC World Markets Inc. in 2013, where he was an integral part of the Alternate Solutions Group. This group specializes in utilizing wholesale banking technology to provide foreign exchange (FX) and precious metals products to retail clients, both in-branch and through eCommerce platforms. Following his successful internship, Jan returned to CIBC in January 2014 after earning his Master of Financial Economics from the prestigious University of Toronto.
Jan's enthusiasm for entrepreneurship became evident when he led a wholesale banking team to the finals of CIBC's Innovation Collaboration Exchange in September 2014. Here, he pitched an innovative concept for a new peer-to-peer model for financial transactions. This remarkable initiative not only received high accolades but also secured the highest award, along with an impressive $300,000 in seed funding, showcasing Jan's capacity for leadership and his forward-thinking mindset.
In 2015, Jan embarked on a new chapter in his career with RBC Capital Markets, where he currently holds the position of Senior Manager in Enterprise Market Risk. His role is vital to the organization, as he provides insightful commentary on risk metrics trends, including Value at Risk (VaR) and stress testing across various business lines within RBC Capital Markets and the Royal Bank Financial Group. He is also responsible for crafting the Market Risk commentary for the Management Discussion and Analysis (MD&A) sections of RBC's quarterly shareholder reports. His contributions play a significant role in shaping the risk management framework mandated by the Office of the Superintendent of Financial Institutions (OSFI) and the Federal Reserve.
Education and Achievements
Jan Varsava has built a foundational knowledge base in economics and physics through his educational background. He obtained his Master’s degree in Financial Economics from the University of Toronto, an esteemed institution that has equipped him with a solid understanding of financial systems and analytical skills. Prior to this, he pursued dual Bachelor's degrees in Economics (B.A.) and Physics (B.Sc.) at the University of Alberta. This interdisciplinary education has allowed Jan to approach complex financial challenges with both an economic perspective and a scientific analytical framework.
Throughout his career, Jan has continuously demonstrated his dedication to excellence and innovation. His leadership in spearheading a groundbreaking financial transaction model not only highlights his entrepreneurial spirit but also his ability to conceptualize and realize efficacious solutions in the finance sector. His trajectory from intern to senior manager speaks volumes about his professional growth, expertise, and commitment to paving the way for advancements in market risk strategy.
Notable Achievements
- Pitched a peer-to-peer financial transaction model at CIBC's Innovation Collaboration Exchange, leading his team to the finals and winning the highest award, accompanied by $300,000 in seed funding.
- Currently serve as Senior Manager of Enterprise Market Risk at RBC Capital Markets, showcasing a strong proficiency in market risk analysis and management.
- Played a critical role in writing Market Risk commentary for RBC's quarterly shareholder reports, underscoring his essential contributions to enterprise-level financial risk assessment and strategy.
- Involved in stress testing procedures as outlined by regulatory bodies such as OSFI and the Federal Reserve, demonstrating a commitment to regulatory compliance and risk mitigation in financial markets.
