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

You will lead operations that are fiscally and ethically viable, influencing the achievement of ... Accountable for the risk management performance on assigned commission(s). * Creates/designs ...

OSFI B-10, operational resilience principles, risk governance frameworks, third-party lifecycle management Experience developing governance reporting, KRIs, and executive dashboards Experience ...

OSFI B-10, operational resilience principles, risk governance frameworks, third-party lifecycle management Experience developing governance reporting, KRIs, and executive dashboards Experience ...

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 ...

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 Toronto, ON salary details

$29.6K

$104.1K

$145.1K

How much do operational risk manager jobs pay per year?

As of Jul 9, 2026, the average yearly pay for operational risk manager in Toronto, ON is $104,141.00, according to ZipRecruiter salary data. Most workers in this role earn between $84,459.00 and $133,607.00 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.

What are the most commonly searched types of Operational Risk jobs in Toronto, ON? The most popular types of Operational Risk jobs in Toronto, ON are:
What are popular job titles related to Operational Risk Manager jobs in Toronto, ON? For Operational Risk Manager jobs in Toronto, ON, the most frequently searched job titles are:
What job categories do people searching Operational Risk Manager jobs in Toronto, ON look for? The top searched job categories for Operational Risk Manager jobs in Toronto, ON are:
Risk Manager

Full-time

Posted 29 days ago


Job description

At Mace, our purpose is to redefine the boundaries of ambition. We believe in creating places that are responsible, bringing transformative impact to our people, communities, and societies across the globe. To learn more about our purpose, culture, and priorities, visit our strategy site.

Within our consult business we harness our unique combination of leading-edge practical expertise and project deliveryconsultancy to unlock the potential in every project.  

The Project: This major national rail programme is focused on delivering a modern, electrified high-speed corridor that will strengthen connectivity between key urban centres. The scheme aims to significantly reduce journey times, enhance passenger capacity, and support long term decarbonisation goals. Development is progressing toward phased delivery over the next decade.

Our Values

Safety first - Going home safe and well: You will champion a safe, diverse and inclusive working environment, understanding the importance of wellbeing in your team and local health and safety rules or regulations of the work you're involved with.

Client focus - Deliver on our promise: You will lead on the cost management services including estimating, procurement and cost planning, owning the quality of deliverables, strategic outcomes and building long term relationships with your clients.

Integrity - Always do the right thing: You will lead operations that are fiscally and ethically viable, influencing the achievement of business objectives that align with business and legislative compliance obligations.

Create opportunity - For our people to excel: You will mentor, coach, and develop teams, demonstrating effective leadership to ensure excellence in delivery against plans, championing a continuous improvement culture throughout all activities.

You'll Be Responsible For:

  • Accountable for the risk management performance on assigned commission(s).

  • Creates/designs effective risk management framework(s)/strategy(s).

  • Manages and directs Clients, consultants, contractors, project team on all risk management matters. 

  • Acts as the risk management Subject Matter Expert on assigned project(s)/programme(s)/portfolio(s). 

  • Leads and directs the delivery of Quantitative Risk Analysis (cost and time).

  • Advises on the adequacy of contingency as part of the regular reporting cycle as required.

  • Ensures all activities/operations are carried out in line with Mace Control Centre, Client requirements and prevailing legislation.

  • Provides line management to more junior risk managers and other Project/Programme staff as required.

  • Utilises expertise to mentor and assist the personal and career development of junior members of risk team. 

  • Innovates and aligns with industry best practice to ensure continued service excellence.

  • Leads the delivery of a high performing risk team on the assigned commission.. 

  • Supports the Hub Risk Lead with resourcing and recruitment for the assigned commission.                                                                       

  • Works collaboratively towards the common goal of net zero carbon transition, and share responsibility for the proactive identification and management of the associated carbon emissions and reductions during the delivery of work.
     

You'll Need To Have:

  • Proven ability to set up and implement robust risk management and assurance frameworks and strategies.

  • Knowledge of risk tools, techniques, and software (e.g., Active Risk Manager, riskHive, @RISK, Primavera Risk Analyzer).

  • Significant experience providing effective risk leadership on major construction projects.

  • Ability to manage activities with high levels of uncertainty regarding solutions or outcomes.

  • Strong knowledge of planning tools and systems (e.g., Primavera P6, Astra, MS Project).

  • Practical experience using Power BI and other reporting tools for data analysis and visualization.

  • Strong understanding of construction projects, including dependencies and interfaces across the project lifecycle.

  • Ability to define and drive the vision and direction for risk management across portfolios.

  • Builds strong internal relationships, collaborating with stakeholders to identify and assess business risks.

  • Proven capability to build, lead, and develop high-performing teams, including coaching and talent development.

  • Strong leadership and influencing skills across diverse teams and environments.

  • Extensive experience (typically 10 years) delivering risk management services on major construction programmes.

  • Degree in Risk Management, Engineering, Construction, Project Management, or a related discipline (or equivalent qualification or experience).
     

Note: The estimated salary for this position is 180,000 - 240,000 CAD. Starting salary may vary based on permissible, non-discriminatory factors such as experience, skills and qualifications.

Mace is an inclusive employer and welcomes interest from a diverse range of candidates. Even if you feel you do not fulfil all the criteria, please apply as you may still be the best candidate for this role or another role within our organisation.

We are also open to discussing part time, flexible, and hybrid working options if suitable with-in the role.