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Credit Risk Manager Jobs in Ontario (NOW HIRING)

Scotiabank

The Senior Consultant, Risk Insights is responsible for contributing to the profitable growth and ... As well, the Sr. CSM liaises with Global Risk Management (GRM) through the credit decision-making ...

S&P Global

Credit Product Specialist

Toronto, ON · On-site

The Credit & Risk Solutions Product Specialist will partner closely with Sales, Relationship Management, Product Management, and Client Success teams to support growth, retention, product adoption ...

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Credit Risk Manager information

What is a credit risk manager?

Credit Risk Managers are professionals responsible for assessing and managing the risk of financial losses that may arise from borrowers failing to repay loans or meet contractual obligations. They analyze financial data, credit reports, and market trends to determine the creditworthiness of individuals or businesses. Credit Risk Managers also develop policies and strategies to minimize potential losses and ensure compliance with regulatory standards. Their role is critical in maintaining the financial health and stability of banks, lending institutions, and other organizations involved in credit.

What does a credit risk manager do?

A credit risk manager analyzes credit risk for banks and similar financial institutions. In this role, it’s your job to develop better credit risk policies and procedures to alleviate losses and maintain capital. Additional duties involve examining data, building financial models, creating performance reports, ensuring regulatory compliance, and formulating credit policy. This career requires at least a bachelor’s degree in business administration or a related field. Other important qualifications include excellent analytical, communication, and research skills. Most employers typically prefer candidates who have previous risk management experience.

What are the key skills and qualifications needed to thrive as a credit risk manager, and why are they important?

To thrive as a Credit Risk Manager, you need strong analytical abilities, deep knowledge of financial principles, and typically a degree in finance, accounting, or a related field. Familiarity with risk modeling software, credit scoring systems, and regulatory frameworks such as Basel III is essential. Strong communication, decision-making, and stakeholder management skills set outstanding professionals apart in this field. These skills are crucial for accurately assessing creditworthiness, minimizing financial losses, and ensuring regulatory compliance within financial institutions.

How does a credit risk manager typically collaborate with other departments to assess and mitigate risk?

A Credit Risk Manager frequently works with teams across the organization, such as underwriting, finance, and compliance, to assess borrower creditworthiness and ensure adherence to risk policies. Collaboration often involves developing risk models, reviewing loan portfolios, and communicating risk exposures to senior management. Working closely with these departments enables comprehensive risk assessments and the implementation of effective mitigation strategies. This cross-functional approach fosters a proactive risk culture and ensures that credit decisions align with both regulatory requirements and business objectives.

What is the difference between Credit Risk Manager vs Credit Analyst?

AspectCredit Risk ManagerCredit Analyst
CredentialsBachelor's degree, often certifications like CFA or credit risk certificationsBachelor's degree, finance or related field, sometimes certifications like CFA
Work EnvironmentOversees risk policies, manages teams, strategic planningAnalyzes credit data, assesses borrower risk, prepares reports
Industry UsageUsed in banking, financial services, lending institutionsCommon in banks, credit agencies, financial firms

The Credit Risk Manager focuses on overseeing and managing the overall credit risk policies and teams, while the Credit Analyst conducts detailed credit assessments of individual borrowers. Both roles require similar credentials and are integral to credit decision processes, but they differ in scope and responsibilities.

How much do credit risk managers make in the US?

Credit risk managers in the US typically earn a median annual salary of around $85,000 to $125,000, with experienced professionals and those in senior roles earning higher. Salaries can vary based on industry, location, and level of experience, and certifications like CFA or FRM can enhance earning potential.
More about Credit Risk Manager jobs

What are the most commonly searched types of Credit Risk jobs in Ontario?

The most popular types of Credit Risk jobs in Ontario are:

What are popular job titles related to Credit Risk Manager jobs in Ontario?

For Credit Risk Manager jobs in Ontario, the most frequently searched job titles are:

What job categories do people searching Credit Risk Manager jobs in Ontario look for?

The top searched job categories for Credit Risk Manager jobs in Ontario are:

What cities in Ontario are hiring for Credit Risk Manager jobs?

Cities in Ontario with the most Credit Risk Manager job openings:

Credit Risk Manager jobs near you
Infographic showing various Credit Risk Manager job openings in Ontario as of August 2026, with employment types broken down into 84% Full Time, 14% Part Time, and 2% Contract. Highlights an 79% Physical, 3% Hybrid, and 18% Remote job distribution.

Senior Manager, Commercial Credit

Toronto, ON • On-site

Scotiabank
Banking and Credit Intermediation • 10K+ employees
Learn more about Scotiabankexternal

Full-time

Posted 13 days ago

Job description

Requisition ID: 271502 
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Senior Manager, Commercial Credit, will ensure credit adjudication, control activities and related processes are conducted within a strong risk culture, focusing on emerging risks and within risk appetite. They will also provide objective oversight and effective challenges, enable capital optimization, ensure ongoing monitoring, and partner with business lines to develop effective strategy.

Is this role right for you? In this role, you will:

  • Adjudicate and/or authorize credit requests up to assigned limits; make sound recommendations within the Bank risk appetite and in adherence to our policy and standards. 

  • Evaluate financial and non-financial risks for an accurate client risk profiling, and challenge banking strategies ensuring compliance with bank policies and regulatory requirements. 

  • Perform risk assessment and rating assignment, timely monitoring changes of client's creditworthiness, and recommending adequate course of action. 

  • Understand economic, political and regulatory framework and how it impacts the assigned portfolio recommending potential actions. 

  • Act as an advisor partner for Mid-Market Commercial Banking. 

  • Play an integral role in the client relationship experience by collaborating effectively with Banking, providing feedback to ensure a cohesive and efficient client experience while managing risk effectively. 

  • Validate GRM critical data elements in credit systems which feed capital and provisions. 

  • Support innovation and digitize risk processes, improving accuracy of and speed of credit decisions and operational efficiencies. 

  • Provide proactive and ongoing monitoring of assigned portfolio ensuring adherence to all compliance metrics of the loan portfolio is managed effectively within defined KPI. 

  • Support effective and efficient operations, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk. 

  • Exemplify a culture of risk awareness, accountability, effective challenge supporting a client centric culture, provide coaching and an attractive value proposition for talent. 

Do you have the skills that will enable you to succeed?  We'd love to work with you if you have experience with: 

  • Minimum of 5 years of experience in financial analysis or credit adjudication. 

  • Minimum Post Secondary Education completed in business or related area. 

  • Extensive experience in complex financial analysis. 

  • Good understanding of Bank lending policies and procedures, financial analysis, risk assessment techniques, credit structuring, collateral and security documentation and registration, collection, related legislation and accounting practices. 

  • Proven credit judgment. 

  • Proven ability in administering a Commercial credit portfolio. 

  • Strong negotiation and problem resolution skills. 

  • Strong communication skills, written and verbal, in order to produce informative, concise and professional credit replies, presentations and correspondence. 

  • Strong organizational skills and the ability to prioritize work effectively and efficiently. 

  • Strong coaching and counseling skills. 

What's in it for you? 

  • The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers. 

  • A rewarding career path with diverse opportunities for professional development. 

  • Internal development to support your growth and enhance your skills. 

  • A competitive compensation and benefits package. 

  • An organization committed to making a difference in our communities- for you and our customers. 

  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success! 

Location(s):  Canada : Ontario : Toronto || Canada : Nova Scotia : Halifax 
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our  Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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