You must change the variable log_bin_trust_function_creators to 1 during Ranger installation.

    From RDS Dashboard>Parameter group (on the left side of the page):

    1. Set the MySQL Server variable log_bin_trust_function_creators to 1.
    2. (Optional) After Ranger installation is complete, reset log_bin_trust_function_creators to its original setting. The variable is only required to be set to 1 during Ranger installation.

    For more information, see: