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Operational Risk Manager Jobs in Ontario (NOW HIRING)

LeverageTek

IT Risk Manager

Ottawa, ON · Remote

... Operational Risk Experience managing enterprise IT Risk Registers and preparing reports for senior leadership and governance committees Advanced Power BI reporting and dashboard development ...

goeasy

Risk Manager (Risk & Analytics)

Mississauga, ON · On-site

CA$95K - CA$129K/yr

We're looking for a Risk Manager, Risk & Analytics to join a collaborative and forward‑thinking ... and operational changes on delinquency and charge off levels. What experience do you have? * You ...

Manulife

Manager, GWAM Risk Center

Waterloo, ON · Hybrid

CA$88K - CA$138K/yr

The Manager, Operational Risk Management, will be responsible for assisting the AVP Head of GWAM Risk Center with their mandate to implement and execute an effective risk governance management ...

Manulife

Manager, GWAM Risk Center

Toronto, ON · Hybrid

CA$88K - CA$138K/yr

The Manager, Operational Risk Management, will be responsible for assisting the AVP Head of GWAM Risk Center with their mandate to implement and execute an effective risk governance management ...

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Operational Risk Manager information

See Ontario salary details

$31K

$109.1K

$152K

How much do operational risk manager jobs pay per year?

As of Jul 22, 2026, the average yearly pay for operational risk manager in Ontario is $109,124.00, according to ZipRecruiter salary data. Most workers in this role earn between $88,500.00 and $140,000.00 per year, depending on experience, location, and employer.

What Does an Operational Risk Manager Do?

An operational risk manager works to identify and limit the risk associated with a company’s operations. As an operational risk manager, your responsibilities involve assessing business operations, identifying issues, and creating reports on your findings. You then help develop policies and implement changes to lessen operational risks. Other duties include continually monitoring the business to find potential new threats and ensuring company compliance with laws and regulations.

What are the 4 pillars of operational risk management?

The four pillars of operational risk management are risk identification, risk assessment, risk mitigation, and risk monitoring. An Operational Risk Manager uses these pillars to develop strategies that minimize potential losses from internal processes, people, systems, or external events, often utilizing tools like risk dashboards and frameworks such as Basel II. Mastery of these pillars is essential for effective risk oversight and compliance.

What does an operational risk manager do?

An operational risk manager identifies, assesses, and monitors risks that could disrupt a company's operations, such as process failures, fraud, or system outages. They develop strategies to mitigate these risks, ensure compliance with regulations, and often use risk management tools and data analysis to support decision-making.

Do risk managers make good money?

Operational Risk Managers typically earn competitive salaries that vary by industry, experience, and location. According to industry data, the median annual salary ranges from $80,000 to over $130,000, with additional compensation such as bonuses and certifications like FRM or ORM enhancing earning potential.

What are some common challenges faced by Operational Risk Managers in maintaining effective risk controls across different departments?

Operational Risk Managers often encounter challenges in ensuring consistent risk controls due to varying processes, priorities, and risk appetites across departments. Communication gaps and resistance to change can make it difficult to implement standardized procedures. Successfully overcoming these challenges involves building strong cross-functional relationships, conducting regular training, and fostering a risk-aware culture to ensure alignment on risk management practices throughout the organization.

What are the three C's of operational risk management?

The three C's of operational risk management are Culture, Controls, and Communication. These elements help organizations identify, assess, and mitigate risks effectively, which is essential for an Operational Risk Manager to ensure operational resilience and compliance. Developing strong controls and fostering a risk-aware culture are key skills in this role.

What are the key skills and qualifications needed to thrive as an Operational Risk Manager, and why are they important?

To thrive as an Operational Risk Manager, you need a solid understanding of risk assessment, regulatory compliance, and internal controls, typically supported by a degree in finance, business, or a related field. Familiarity with risk management frameworks, GRC (governance, risk, and compliance) systems, and certifications such as FRM or ORM are highly valued. Strong analytical thinking, attention to detail, and effective communication skills set top performers apart in this role. These competencies are crucial for identifying, mitigating, and communicating operational risks, ensuring organizational stability and regulatory adherence.

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

AspectOperational Risk ManagerRisk Analyst
CertificationsCFA, FRM, or similarCFA, FRM, or similar
Work EnvironmentFinancial institutions, banks, insurance companiesFinancial firms, consulting, corporate risk teams
ResponsibilitiesIdentify, assess, and mitigate operational risks; develop risk frameworksAnalyze risk data, support risk assessments, prepare reports

The Operational Risk Manager focuses on managing and mitigating operational risks within organizations, often holding certifications like CFA or FRM. In contrast, Risk Analysts primarily analyze risk data and support risk management processes. Both roles are vital in financial sectors and share similar credentials, but the Operational Risk Manager has a broader responsibility for risk mitigation strategies.

More about Operational Risk Manager jobs
What are the most commonly searched types of Operational Risk jobs in Ontario? The most popular types of Operational Risk jobs in Ontario are:
What are popular job titles related to Operational Risk Manager jobs in Ontario? For Operational Risk Manager jobs in Ontario, the most frequently searched job titles are:
What job categories do people searching Operational Risk Manager jobs in Ontario look for? The top searched job categories for Operational Risk Manager jobs in Ontario are:
What cities in Ontario are hiring for Operational Risk Manager jobs? Cities in Ontario with the most Operational Risk Manager job openings:
Operational Risk Manager jobs near you
Infographic showing various Operational Risk Manager job openings in Ontario as of July 2026, with employment types broken down into 85% Full Time, 14% Part Time, and 1% Contract. Highlights an 92% Physical, 3% Hybrid, and 5% Remote job distribution, with an average salary of $109,124 per year, or $52.5 per hour.

Client Risk Manager, Market and Counterparty Risk

Fidelity International

Toronto, ON • Hybrid

Full-time

Posted 28 days ago

Job description

Job Description

Please Note:

  • Current work authorization for Canada is required for all openings.
  • This is a full-time regular role.
  • You will be working on a flexible hybrid schedule as part of Fidelity's dynamic working arrangement.

Who We Are

At Fidelity, we've been helping Canadian investors build better financial futures for over 35 years. We offer individuals and institutions a range of trusted investment portfolios and services - and we're constantly seeking to find new and better ways to help our clients. As a privately owned company, we boldly embrace innovation in all areas as we continue to grow our business into the future.

Working with us means you'll be part of a diverse and dedicated group of people who make a real difference for our clients and communities every day. You'll have a wide range of opportunities to grow and develop your career in an inclusive environment where you'll feel valued and supported to be your best - both personally and expertly.

Business Overview

Fidelity Clearing Canada (FCC) is the leading independent clearing broker and custodian in the Canadian market. We provide trade execution, clearing, custody and back-office support services to Canadian-based brokerage firms and the Canadian brokerage arms of U.S.-based firms.

For more information about Fidelity Clearing Canada, please visit https://clearing.fidelity.ca/

How You'll Make an Impact

The Client Risk Manager, Market and Counterparty Risk plays a key role in protecting FCC by overseeing and managing client-related risks across the clearing and custody business. This role is responsible for assessing financial, operational, regulatory, and reputational risks associated with clients, while supporting business growth through sound risk management practices.

You will work closely with internal stakeholders including Relationship Management, Operations, Finance, Compliance, Legal, and Executive leadership to ensure risks are identified, monitored, escalated, and managed appropriately throughout the client lifecycle.

The successful candidate will bring strong analytical and relationship management skills, combined with sound judgment and the ability to balance client service with prudent risk oversight.

What You Will Do

Client Risk Oversight & Management

  • Conduct ongoing risk assessments of FCC clients, including financial analysis, operational reviews, and business model evaluations.

  • Assess and monitor client exposure across operational, market, credit, settlement, and reputational risk categories.

  • Act as a trusted advisor to business partners on client risk matters and risk mitigation strategies.

  • Review new client onboarding requests and participate in due diligence activities.

  • Escalate material client concerns and emerging risks to senior leadership and relevant risk committees.

  • Support the development and maintenance of client risk scoring methodologies and monitoring frameworks.

Monitoring, Reporting & Governance

  • Lead development of scalable data and analytics solutions for client risk

  • Develop & monitor key client risk indicators and trends, ensuring timely identification and escalation of concerns.

  • Prepare client risk reporting and presentations for management committees and senior leadership.

  • Maintain accurate documentation of assessments, decisions, and mitigation activities.

  • Contribute to the enhancement of client risk governance processes, procedures, and controls.

Regulatory & Operational Risk Support

  • Support adherence to regulatory requirements and internal policies related to client risk management.

  • Assist with audits, regulatory reviews, and internal examinations as required.

  • Identify opportunities to improve risk processes, operational efficiencies, and reporting capabilities.

  • Participate in special projects and ad-hoc risk initiatives in support of FCC business priorities.

What We Are Looking For

Required

  • 5+ years of experience in risk management, ideally within the securities or banking industry.

  • University degree, preferably in: Business, Finance, Computer Science, Management Information Systems, Mathematics, or a related field.

  • Strong understanding of capital markets, clearing and custody operations, and client onboarding practices.

  • Strong analytical and problem-solving skills with the ability to interpret financial and operational information.

  • Excellent written and verbal communication skills with the ability to influence stakeholders at various levels.

  • Strong organizational skills with the ability to manage multiple priorities in a fast-paced environment.

  • Proficiency with Microsoft Office applications, particularly Excel and PowerPoint.

Nice to Have

  • Knowledge of CIRO, securities regulations, and Canadian financial industry practices.

  • Experience working in a clearing broker, custodian, or wealth management environment, preferably with responsibilities including trade desk oversight.

  • Professional designations such as CFA or FRM are considered an asset.

  • Experience with risk reporting tools, dashboards, or data analytics solutions.

Total Rewards That Reflect Your Impact

We believe exceptional work deserves exceptional recognition. That's why we offer a competitive compensation package designed to support your success today-and your financial well-being tomorrow.

For this role, your total rewards include:

  • Base Salary and Discretionary Performance Bonus: Total annual cash compensation (base salary plus target bonus) ranges from$139,000 to $158,000, based on your experience and qualifications.

  • RRSP Contribution: After 6 months of employment, we invest in your future with an RRSP contribution-no employee matching required.

We're proud to offer a compensation package that aligns with provincial pay transparency requirements.

This posting represents an existing vacancy within our organization-an opportunity to step into a role where your talents will make a meaningful difference.

We use AI-enabled LinkedIn Hiring Assistant to support parts of our sourcing process. Every hiring decision is reviewed and finalized by our recruiters. If you choose to ask questions to the LinkedIn HR Hiring Assistant, please be mindful that the responses are not official and must be confirmed for accuracy and completeness by Fidelity. If you are selected for an interview, the recruiter who contacts you can best answer your questions.

Fidelity Canada is an equal opportunity employer

Fidelity Canada is committed to fostering a diverse and inclusive workplace. We will consider all qualified applicants for employment regardless of race, color, religion, sex, sexual orientation, gender identity or expression, national or ethnic origin, age, disability, family status, protected veterans' status, Aboriginal/Native American status or any other legally-protected ground.

Accommodation during the application process

Fidelity Canada welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in the selection process. If you require an accommodation, please email us at FidelityCanadaStaffing@fidelity.ca.

No telephone inquiries or agencies please. We thank all applicants for their interest, please be advised that only those selected for an interview will be contacted.

Why Work at Fidelity?

We are proud to be recipients of the following:

Awards

Canada's Top 100 Employers
o Greater Toronto's Top Employers
o Canada's Top Family-Friendly Employers
o Canada's Top Employers for Young People
Great Place To Work Certified
o Best Workplaces for Inclusion
o Best Workplaces for Mental Wellness
o Best Workplaces for Today's Youth
o Best Workplaces for Women
o Best Workplaces in Financial Services & Insurance
o Best Workplaces in Ontario
o Best Workplaces with Most Trusted Executive Teams

LinkedIn Top Companies in Canada
Human Resource Director (HRD) - Best Place To Work
o HRD - 5-Star Benefit Program
o HRD - 5-Star Diversity & Inclusion Employer

Designations
Canadian Compassionate Companies - Certified
Benefits Canada's Workplace Benefits Award - Future of Work Strategy
TalentEgg National Recruitment Excellence Award - Special Award for Diversity & Inclusion in Recruiting
Canadian HR Reporter's Most Innovative HR Team

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