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Financial Risk Manager Jobs in Waterloo, ON (NOW HIRING)

Wawanesa Insurance

Catastrophe Risk Specialist

Kitchener, ON · Hybrid

CA$85K - CA$115K/yr

... Financial Group, a leading national distributor of personal and business insurance. In March of ... Job Overview Reporting to the Manager, Catastrophe Risk, this role is responsible for analytics and ...

Arcadis

Senior Nuclear Leader

Waterloo, ON · On-site

Arcadis is seeking a Senior Nuclear Practice Leader to join our Radiation Risk Management Practice ... financial targets of the business, and creating the most advantageous delivery approach Taking ...

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Financial Risk Manager information

See Waterloo, ON salary details

$26.6K

$94.1K

$149.6K

How much do financial risk manager jobs pay per year?

As of Sep 11, 2026, the average yearly pay for financial risk manager in Waterloo, ON is $94,075.00, according to ZipRecruiter salary data. Most workers in this role earn between $68,528.00 and $120,274.00 per year, depending on experience, location, and employer.

What does a financial risk manager do?

A Financial Risk Manager (FRM) is responsible for identifying, analyzing, and mitigating financial risks within an organization. Their work involves assessing threats related to credit, market, operational, and liquidity risk, and developing strategies to minimize potential losses. FRMs use quantitative analysis, financial modeling, and risk assessment tools to advise decision-makers on risk exposures. They play a vital role in ensuring that a company remains compliant with financial regulations and maintains financial stability.

What are the key skills and qualifications needed to thrive as a financial risk manager?

To thrive as a Financial Risk Manager, you need a strong background in finance, quantitative analysis, and risk assessment, typically supported by a relevant degree and certifications like FRM or CFA. Expertise in risk modeling software, statistical tools such as SAS or R, and financial reporting systems is highly valued. Exceptional analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These skills and qualities are crucial for accurately identifying, assessing, and mitigating financial risks to protect organizational assets and ensure regulatory compliance.

What are some common challenges financial risk managers face when working with cross-functional teams?

Financial Risk Managers often collaborate with departments such as treasury, compliance, and IT to identify and mitigate risks. One common challenge is aligning risk management strategies with diverse departmental goals, which may sometimes conflict with each other. Effective communication and negotiation skills are essential to ensure all stakeholders understand the risk implications of their decisions. Additionally, adapting to rapidly changing regulations and market conditions can create pressure to quickly update risk models and processes.

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

AspectFinancial Risk ManagerCredit Analyst
CertificationsFRM, CFAFitch, CFA
Work EnvironmentFinancial institutions, banks, investment firmsBanks, lending institutions, credit agencies
Primary FocusAssessing and managing overall financial risksEvaluating creditworthiness of borrowers
Industry UsageRisk management departments, trading floorsLoan departments, credit risk units

While both roles involve financial analysis, a Financial Risk Manager focuses on identifying and mitigating broad financial risks across an organization, often requiring advanced certifications like FRM or CFA. A Credit Analyst specializes in assessing individual borrowers' creditworthiness to inform lending decisions. Both roles are vital in financial institutions but serve different strategic purposes.

Do financial risk managers make good money?

Financial risk managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, median annual pay often exceeds $100,000, with senior roles and certifications like FRM or CFA increasing earning potential. They also benefit from bonuses and other incentives based on performance and risk management success.

Is it hard to become a financial risk manager?

Becoming a financial risk manager typically requires a strong background in finance, economics, or related fields, along with relevant certifications such as the FRM or CFA. The role involves developing analytical skills, understanding financial models, and often gaining experience in risk analysis or financial analysis, which can take several years of education and work experience to achieve.

Is risk management in finance a good career?

A career as a financial risk manager involves analyzing and mitigating financial risks for organizations, often requiring strong analytical skills, knowledge of financial instruments, and certifications like FRM or CFA. It offers opportunities in banking, investment firms, and corporations, with a focus on quantitative analysis and regulatory compliance. The role can be rewarding for those interested in finance and risk assessment, with a stable job outlook and competitive salary potential.

What cities near Waterloo, ON are hiring for Financial Risk Manager jobs?

Cities near Waterloo, ON with the most Financial Risk Manager job openings:

Financial Risk Manager jobs near you
Infographic showing various Financial Risk Manager job openings in Waterloo, ON as of August 2026, with employment types broken down into 88% Full Time, 11% Part Time, and 1% Contract. Highlights an 81% Physical, 2% Hybrid, and 17% Remote job distribution, with an average salary of $94,075 per year, or $45.2 per hour.

Manager, Third Party Risk Management CoE

Waterloo, ON • On-site

Sun Life Financial
Insurance Carriers • 10K+ employees
Learn more about Sun Life Financialexternal

Full-time

PTO

Posted 2 days ago

New

Sun Life Assurance Company of Canada rating

8.6

Company rating: 8.6 out of 10

Based on 18 frontline employees who took The Breakroom Quiz

Job description

You are as unique as your background, experience and point of view. Here, you'll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do.


At Sun Life, we're driven by our Purpose: helping our Clients achieve lifetime financial security and live healthier lives. Our values shape how we work: caring, authentic, bold, inspiring, and impactful.


When you join Sun Life, you'll work with passionate colleagues and empowering leaders who support your growth and celebrate your contributions, so you can make a meaningful difference in our Clients' lives.


Discover how you can make a difference in the lives of individuals, families and communities around the world.


Job Description:

About the role:

Manager, Third Party Risk Management (TPRM) Centre of Excellence (CoE) will play a key role in strengthening Sun Life's enterprise approach to managing third-party risk. This role supports the design, coordination, and execution of consistent third-party risk management practices across the organization, while enabling Business Groups to meet local business, operational, and regulatory requirements.

The successful candidate will work closely with Business Group TPRM teams, subject matter experts, and second-line partners to help identify, assess, monitor, manage, and report on third-party risks across the third-party lifecycle.

What will you do?

  • Support the CoE leader with enterprise alignment of third-party risk processes, standards, and practices, including the development of practical guidance, tools, and process improvements.
  • Provide guidance, training, and clear communication to Business Group teams, Relationship Managers, and other stakeholders to support consistent execution of third-party risk management requirements.
  • Provide day-to-day support to Corporate Business Group through leadership and guidance, ensuring Business Units' execution of third-party risk management requirements
  • Support third-party incident management activities by coordinating information gathering, applying a third-party risk lens, and helping prepare responses for enterprise or regulatory requests, as required.
  • Analyze and report on third-party risk data, trends, issues, key performance indicators, and data quality matters to support management decision-making.
  • Support enhancements to third-party risk management technology, including business requirements, testing, reporting, workflow improvements, and user guidance.
  • Contribute to quality assurance, issue identification, remediation tracking, and ongoing improvement of third-party risk management execution across the enterprise.
  • Support initiatives to enhance Third Party Risk Management program

What do you need to succeed?

  • 5+ years of experience in third-party risk management, operational risk, compliance, audit, or a related field, ideally within a major Federally Regulated Financial Institution.
  • Bachelor's degree in Business, Finance, Risk Management, Technology, Engineering, or a related field, or equivalent experience.
  • Strong understanding of third-party risk management principles, including risk identification, assessment, monitoring, reporting, governance, and issue management.
  • Knowledge of key third-party risk considerations such as operational resilience, privacy, information security, subcontractor and concentration risk.
  • Experience working with risk, governance, or workflow technology platforms; experience with ServiceNow or third-party risk management tools is an asset.
  • Experience and proficiency with Excel (Pivot tables, V/X-look ups) and Tableau (creating dashboards)
  • Strong analytical, problem-solving, and decision-making skills, with the ability to identify trends, root causes, control gaps, and practical improvement opportunities.
  • Excellent written and verbal communication skills, with the ability to explain complex risk concepts clearly to business and risk stakeholders.
  • Ability to build trusted relationships, influence without direct authority, and work effectively across Business Groups, subject matter experts and lines of defence.
  • Strong organizational skills with the ability to manage competing priorities, support change, and deliver high-quality outcomes in a complex environment.
  • Artificial Intelligence (AI) literacy and the ability to apply responsible AI practices in day-to-day operations, including effective use of approved tools, critical review of AI-generated outputs, and awareness of related risks and controls.

Preferred Skills:

  • Experience in a financial services or OSFI regulated environment is preferred.
  • Professional certification such as CISA, CIA, CTPRP, CTPRA, or equivalent is an asset.

What's in it for you?

  • Hybrid work environment
  • A friendly, collaborative, and inclusive culture
  • 20 vacation days per year
  • Flexible Benefits from the day you join to meet the needs of you and your family
  • Pension, stock and savings programs to help build and enhance your future financial security
  • The opportunity to move along a variety of career paths with amazing networking potential
  • Access to our Global Learning Centre, available 24/7 for your learning needs
  • Wellness programs that support the three pillars of your health - mental, physical and financial

Recent Awards:

  • We are honoured to be recognized as a 2022, 2023, 2024 and 2025 Best Workplaces in Canada by Great Place to Work Canada
  • Great Place to Work list for Best Workplaces for #HybridWork 2022
  • Great Place to Work list for Best Workplaces for Professional Development in Canada 2022
  • Named "Best Places to Work" by Glassdoor, 2021 and 2023

The Base Pay range is for the primary location for which the job is posted. It may vary depending on the work location of the successful candidate or other factors. In addition to Base Pay, eligible Sun Life employees participate in various incentive plans, payment under which is discretionary and subject to individual and company performance. Certain sales focused roles have sales incentive plans based on individual or group sales results.


Diversity and inclusion have always been at the core of our values at Sun Life. A diverse workforce with wide perspectives and creative ideas benefits our Clients, the communities where we operate and all of us as colleagues. We welcome applications from qualified individuals from all backgrounds.


Persons with disabilities who need accommodation in the application process, or those needing job postings in an alternative format, may e-mail a request to thebrightside@sunlife.com.


We are proud to be a hybrid organization that offers our employees the choice and flexibility to work from both the office and virtually based on the needs of the business, our Clients and you.


We may use artificial intelligence to support candidate sourcing, screening, interview scheduling.


We thank all applicants for showing an interest in this position. Only those selected for an interview will be contacted.


Salary Range:

80,000/80 000 - 128,000/128 000

Job Category:

Risk Management

Posting End Date:

17/09/2026

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