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Fraud Risk Manager Jobs in Toronto, ON (NOW HIRING)

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Senior Fraud Analyst

Markham, ON · Hybrid

CA$85K - CA$105K/yr

Partner with Risk, Operations, and Credit teams to ensure a coordinated approach to fraud management. Investigate & Analyze Lead fraud investigations, identifying root causes and recommending ...

SGI

Fraud Specialist

Toronto, ON · On-site

CA$90K - CA$120K/yr

... risk management and quality assurance. This role establishes and maintains fraud standards, indicators, and escalation protocols to ensure a consistent approach to fraud management. This role ...

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Fraud Risk Manager information

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$13

$42

$78

How much do fraud risk manager jobs pay per hour?

As of Aug 4, 2026, the average hourly pay for fraud risk manager in Toronto, ON is $42.96, according to ZipRecruiter salary data. Most workers in this role earn between $24.55 and $56.66 per hour, depending on experience, location, and employer.

How does a fraud risk manager typically collaborate with other departments to mitigate risks?

Fraud Risk Managers work closely with multiple departments such as compliance, IT, internal audit, and customer service to identify, assess, and address potential fraud risks. They frequently coordinate with data analysts to monitor transactions for suspicious activity and partner with legal teams to ensure regulatory compliance. Regular cross-functional meetings and training sessions are common, allowing them to share insights, update protocols, and respond quickly to emerging threats. Effective communication and teamwork are essential, as fraud prevention is a collaborative effort across the organization.

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

To excel as a Fraud Risk Manager, you need expertise in fraud detection, risk assessment, and knowledge of financial regulations, often supported by a degree in finance, accounting, or a related field. Familiarity with data analytics tools, fraud management platforms, and certifications like CFE (Certified Fraud Examiner) are highly valuable. Strong analytical thinking, problem-solving, and effective communication skills help you collaborate across departments and respond swiftly to emerging threats. These skills and qualifications are vital for proactively identifying, mitigating, and preventing fraudulent activities that could harm an organization’s reputation and finances.

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

AspectFraud Risk ManagerFraud Analyst
CredentialsCertifications like CFE, CRCM; Bachelor's degree in finance, accounting, or related fieldSimilar certifications; Bachelor's degree often required
Work EnvironmentOversees fraud prevention strategies, manages teams, develops policiesConducts investigations, analyzes data, detects fraud patterns
Industry UsageUsed in banking, finance, insurance, and retail sectorsCommonly employed in similar industries for fraud detection

The Fraud Risk Manager focuses on developing and overseeing fraud prevention strategies, managing teams, and implementing policies. In contrast, the Fraud Analyst primarily conducts investigations, analyzes data, and detects fraudulent activities. Both roles require similar credentials and are vital in fraud prevention within financial and retail sectors, but they differ in scope and responsibilities.

What does a fraud risk manager do?

A Fraud Risk Manager is responsible for identifying, assessing, and mitigating the risk of fraud within an organization. They develop and implement policies, procedures, and controls to prevent and detect fraudulent activities. Their work often involves analyzing data for suspicious patterns, investigating incidents of fraud, and providing training to staff on fraud prevention. Ultimately, they help safeguard the organization's assets and reputation by minimizing the impact of fraudulent activities.
What cities near Toronto, ON are hiring for Fraud Risk Manager jobs? Cities near Toronto, ON with the most Fraud Risk Manager job openings:
Fraud Risk Manager jobs near you
Infographic showing various Fraud Risk Manager job openings in Toronto, ON as of July 2026, with employment types broken down into 2% As Needed, 83% Full Time, 14% Part Time, and 1% Contract. Highlights an 88% Physical, 3% Hybrid, and 9% Remote job distribution, with an average salary of $89,348 per year, or $43 per hour.

Manager, Operational Risk Program, Fraud Risk, Governance & Strategy

Scotiabank

Toronto, ON • On-site

Other

Posted 8 days ago

Job description

Requisition ID: 268847 
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Contributes to the overall success of the second line Operational Risk, Enterprise Fraud Risk Programs team ensuring specific individual goals, plans and initiatives are executed/delivered in support of the team's strategies and objectives.  The Manager is responsible for supporting the Director, Operational Risk Oversight, Fraud Risk and Controls in developing and maintaining relevant fraud risk governance documents, reporting and other governance processes in accordance with the Fraud Risk Management Policy.  

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

  • Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge
  • Conducts annual policy reviews and update of all Fraud Risk policies enterprise wide ensuring all exceptions and decisions are captured in Clausematch, are translated and posted on FRO portal
  • Monitors and analyses any regulatory development (changes or new laws, regulations, industry trends) at a business line, country, and regional level providing recommendations to senior management for approval
  • Maintains the Legislative Control Matrices required under eRCM
  • Understands how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions
  • Supports the governance strategy and process for the coordination and central tracking of all Fraud Risk issues management for the business lines and second line Global Fraud Risk Unit
  • Builds reporting processes and formats for senior management and executive management consumption
  • Develops dashboards and power point presentations to communicate the status of projects/remediation efforts in a clear and concise manner
  • Develop strong partnerships, stay abreast of the business priorities and support the delivery model to business line internal control teams, Fraud Management and applicable corporate support functions globally
  • Support the annual fraud risk effectiveness assessment, including methodology development and maintenance, and executive reporting to various risk committees as applicable, providing sound analysis, metrics, value-added advice and insight.
  • Proactively identify opportunities and support enhancement to fraud risk oversight practices. Provide insight to support the enhancement of the Bank's operational risk management framework tools, methodologies and program
  • Support various regulatory requirements as requested by OSFI/Internal Partners
  • Support overall Fraud Risk Oversight team mandate and deliveries as required; support team initiative to enhance overall fraud risk oversight practice and continue to build up team capabilities; support the overall department and other Bank units as required
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
  • Champions a high-performance environment and contributes to an inclusive work environment. 

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have: 

  • University degree in business, or other related fields is required
  • Experience in fraud or fraud adjacent role an asset.
  • Strong knowledge of banking businesses, products, services, and end to end processes.
  • 5+ years experience in business management, internal control, risk management, compliance, audit, or related areas.
  • Strong interpersonal and relationship-building skills working with senior levels of management as well as global teams.

What's in it for you?

  • The opportunity to join a forward-thinking and collaborative team, surrounded by innovative thinkers
  • A rewarding career path with diverse opportunities for professional development
  • Internal training to support your growth and enhance your skills
  • An inclusive working environment that encourages creativity, curiosity, and celebrates success!

Location(s):  Canada : Ontario : Toronto 
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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