Insurance Risk Manager Jobs in Ontario (NOW HIRING)

VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $6.1 billion in assets and growing. As Canadas most innovative bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses.

VersaBanks Common Shares trade on the Toronto Stock Exchange (TSX) and Nasdaq under the symbol VBNK. Our head office is in London, Ontario, with various offices located across Canada. For more information on VersaBank, please visit our website at www.versabank.com.

We are looking for anEnterprise Risk Managerto join the Enterprise Risk Management team. This is a full-time in office role based in London, Ontario.

As the Enterprise Risk Manager you will be responsible for identifying, assessing, and mitigating risks across the Banks financial and operational risk landscape. Reporting to the Chief Risk Officer (CRO), this role is central to strengthening the second line of defense through disciplined risk oversight, sound governance, and proactive stakeholder engagement. The successful candidate will bring hands-on experience with GRC platforms and emerging risk technologies including AI-enabled tools and will apply that capability to develop and deliver scalable, forward-looking risk management infrastructure.

This is a high-impact role for a risk professional who sees technology as a core enabler of a modern, effective ERM program.

Primary Responsibilities include:

• Develop, maintain, and execute the Banks ERM frameworks, policies, and procedures in alignment with OSFI guidelines and industry best practices.
• Conduct regular, comprehensive risk assessments across the organization, identifying and analyzing potential risks, vulnerabilities, and emerging exposures as business conditions and the external environment evolve.
• Perform risk reviews of processes, activities, products, and services to ensure alignment with the Banks risk appetite and compliance with applicable policies.
• Support the CRO in delivering risk program updates, reports, and presentations to senior leadership, board committees, and regulators.
• Deliver the third-party risk management lifecycle, including due diligence assessments, onboarding reviews, ongoing monitoring, and exit procedures for vendors and service providers.
• Develop and maintain the Banks third-party risk inventory, ensuring risk ratings and control assessments reflect current exposure and regulatory expectations, including OSFI B-10.
• Support the model risk management program, including model inventory maintenance, validation oversight, and tracking of model limitations and compensating controls.
• Identify opportunities to strengthen the stress testing program and ensure model risk practices remain fit for purpose as the Banks product suite evolves.
• Support the maintenance and ongoing improvement of the Banks Business Continuity Plan (BCP) and Recovery Plan, ensuring these documents remain current, tested, and operationally credible.
• Coordinate BCP testing exercises and tabletop scenarios, capturing findings and driving resolution of identified gaps.
• Develop and maintain dynamic dashboards and management reports that translate risk data into clear, actionable insight for senior leadership audiences.
• Lead or support the implementation and ongoing optimization of the Banks GRC platform, including configuration, workflow design, and user adoption.
• Leverage AI tools, automation, and analytics capabilities to enhance risk monitoring, KRI tracking, and reporting efficiency across the ERM program.
• Identify and champion opportunities to apply emerging tools and technologies to risk management workflows, helping to build the future state of the ERM program.
• Interface with senior leaders across the Bank on risk issues spanning credit, liquidity, operational, model, and market risk, providing credible challenge and practical guidance.
• Partner with first-line business units to embed risk management principles into day-to-day processes, decision-making, and product development.
• Support the first line in preparing for regulatory reviews, audits, and OSFI examinations.
• Educate internal stakeholders on risk frameworks, GRC tools, and evolving regulatory expectations; promote a risk-aware culture through targeted training and awareness programs.
• Stay current with OSFI guidelines, industry regulations, and emerging risk trends; ensure the Banks risk practices remain compliant and forward-looking.

Qualifications:

• Bachelors degree in finance, Economics, or a related field.
• Minimum 7 years of progressive risk management experience, ideally within an OSFI-regulated financial institution.
• Demonstrated experience with GRC platforms (e.g., Resolver); hands-on implementation or optimization experience strongly preferred.
• Practical exposure to AI tools, automation, or data analytics in a risk management context is a significant asset.
• Working knowledge of third-party risk management, model risk, business continuity, and stress testing frameworks.
• Certification as a Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) is a definite asset.
• Excellent written and verbal communication skills; able to translate complex risk matters into clear, executive-ready output.
• Strong analytical judgment with the ability to credibly challenge and support risk owners across the organization.
• Self-motivated, intellectually curious, and comfortable operating in a dynamic environment where the role will continue to evolve alongside the Banks growth and risk program maturity.

What we offer:

• A collaborative and team-focused work environment.

• Competitive compensation package, including incentive opportunities and pension supplementprogram.

• Comprehensive benefits program and fitness program designed to support your well-being.

• Professional development and tuition reimbursement programs.

Application Procedure:

If working for a non-traditional bank with an entrepreneurial flair appeals to you, we encourage you to apply.Please be advised that only those applicants selected for an interview will be contacted.

At VersaBank, we are committed to fostering a diverse, inclusive, and equitable workplace. We encourage applications from individuals of all backgrounds, including persons with disabilities, Indigenous persons, members of visible minorities, women, LGBTQ+ individuals, and other underrepresented groups. We believe that diverse perspectives strengthen our organization, and we strive to create an environment where everyone has an equal opportunity to succeed. We also encourage candidates with different abilities, relevant alternative expertise, or experience who can perform the essential and critical functions of the job, with or without support(s). If accommodations are required, we are dedicated to providing the necessary support to ensure full participation. VersaBank is an equal opportunity employer and complies with all applicable accessibility laws and regulations.