Royal Bank of Canada continues to lead the way in offering opportunities to BIPOC communities

BY PAUL JUNOR

On August 12^th, 2020 Royal Bank of Canada released, “RBC’s Expanded Commitment to Fight Systemic Racism and Support Black Communities.” Their purpose involved “Actively fighting systemic anti-black racism and discrimination is an imperative step toward fulfilling our purpose, and creating a more equitable society.” (www.rbccm.com)

RBC has increased its financial commitment from CAD $1.5 million to CAD $150 million as it “Invests in the future of black youth, generate wealth for black communities and redefine inclusive leadership at RBC.” In order to facilitate this process RBC has taken steps to conduct mandatory anti-racism and anti-bias training for all employees and increase its BIPOC executives by 10%.

RBC has gone further by increasing its investment in Ignite. This is a program that provides education and talent development to marginalized, BIPOC young adults. RBC Capital Markets in its pursuit of workplace diversity is committed, through the vehicle of RBC Pathways Scholarships to award BIPOC’s undergraduate students. This is great for these post-secondary students who are interested in a career in investment banking or global markets. These $10,000 scholarships have an internship component and students who are selected will be able to be part of the RBC Capital Markets Summer Analyst Program in Toronto, Montreal, Calgary or Vancouver.

The benefits of this program includes:

• An offer of paid employment for a 2022 summer analyst internship with RBC Capital Markets in Toronto, in either Investment Banking or Global Markets

• CAD $10 000 scholarship at the start of your internship
• Executive sponsorship, insight, support, and guidance from a trusted senior leader, as well as summer mentors to help you navigate the organization and guide your career
• Ongoing training, networking, and social opportunities to expose you to the many areas within RBC Capital Markets to provide a comprehensive understanding of our organization as well as the finance industry
• An invaluable peer network of driven, ambitious like-minded young professionals

Students are eligible if they are: a Canadian citizen, permanent resident, legally eligible to work, identify as BIPOC, have an excellent academic record, enrolled full-time in a Canadian post-secondary institution and are able to work from May to August 2022.

Interested students should submit a one-page resume, which shows their cumulative GPA, and a one-page cover letter outlining their reasons for participating in an official or unofficial transcript for their first two years, including winter 2021 grades.

The deadline is May 17^th, 2021 and interviews will be held virtually or in-person.