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Vendor Risk Management Jobs in Ontario (NOW HIRING)

BMO Financial

CA$110K - CA$192K/yr

Procurement Role Summary The Director, Vendor Management Office (VMO) is a seasoned, enterprise ... Influences and works collaboratively with enterprise partners such as Procurement, Risk, Legal ...

BMO Financial

CA$110K - CA$192K/yr

Procurement Role Summary The Director, Vendor Management Office (VMO) is a seasoned, enterprise ... Influences and works collaboratively with enterprise partners such as Procurement, Risk, Legal ...

BMO Financial

CA$110K - CA$192K/yr

Procurement Role Summary The Director, Vendor Management Office (VMO) is a seasoned, enterprise ... Influences and works collaboratively with enterprise partners such as Procurement, Risk, Legal ...

BMO Financial

CA$110K - CA$192K/yr

Procurement Role Summary The Director, Vendor Management Office (VMO) is a seasoned, enterprise ... Influences and works collaboratively with enterprise partners such as Procurement, Risk, Legal ...

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All JobsVendor Risk Management JobsVendor Risk Management Jobs in Ontario

Vendor Risk Management information

See Ontario salary details

$13

$48

$90

How much do vendor risk management jobs pay per hour?

As of Jul 27, 2026, the average hourly pay for vendor risk management in Ontario is $48.50, according to ZipRecruiter salary data. Most workers in this role earn between $31.97 and $62.26 per hour, depending on experience, location, and employer.

What is the highest paying risk management job?

In risk management, senior roles such as Chief Risk Officer (CRO) or Director of Risk Management tend to have the highest salaries, often exceeding six figures annually. These positions require extensive experience, advanced certifications like FRM or CRM, and strong leadership skills, especially in financial services, insurance, or large corporations.

What is a vendor risk management job description?

A vendor risk management job involves assessing and monitoring the risks associated with third-party vendors to ensure compliance with security, legal, and operational standards. Responsibilities include conducting risk assessments, developing mitigation strategies, and maintaining vendor relationships, often using tools like risk management software. Strong analytical skills and knowledge of regulatory requirements are essential for this role.

What are the key skills and qualifications needed to thrive in the Vendor Risk Management position, and why are they important?

To thrive in Vendor Risk Management, you need a solid background in risk assessment, contract analysis, and supply chain management, often supported by a degree in business, finance, or a related field. Familiarity with risk management software, vendor management systems, and relevant certifications such as Certified Third Party Risk Professional (CTPRP) are highly valued. Strong attention to detail, excellent communication, and negotiation skills help build effective vendor relationships and navigate complex scenarios. These capabilities are crucial for ensuring organizational compliance, minimizing third-party risks, and maintaining strong supplier performance.

How much does a risk manager get paid?

A risk manager's salary typically ranges from $70,000 to $130,000 annually, depending on experience, industry, and location. Professionals with certifications like CRM or FRM and strong analytical skills tend to earn higher salaries, especially in financial services and corporate sectors.

What is vendor risk management?

Vendor risk management is a process used by organizations to identify, assess, and mitigate risks associated with third-party vendors. It involves evaluating vendors' security, compliance, and operational practices to ensure they do not pose threats to the organization’s data, reputation, or operations, often supported by tools like risk assessment frameworks and requiring ongoing monitoring.

What is a Vendor Risk Management job?

A Vendor Risk Management (VRM) job involves assessing, monitoring, and mitigating risks associated with third-party vendors and suppliers. Professionals in this role evaluate vendor security, compliance, and operational risks to protect their organization from potential disruptions, data breaches, or regulatory violations. They work closely with procurement, legal, and IT teams to establish risk management frameworks and ensure vendors meet contractual and security standards. Their responsibilities often include conducting risk assessments, reviewing vendor contracts, and developing risk mitigation strategies. Effective VRM helps organizations reduce exposure to risks while maintaining productive vendor relationships.

What are some common challenges faced in a Vendor Risk Management role?

Professionals in Vendor Risk Management often encounter the challenge of assessing and monitoring a wide range of vendors, each with unique risk profiles and compliance requirements. Balancing multiple projects, managing deadlines, and ensuring clear communication between internal stakeholders and vendors can also be demanding. Staying updated on evolving regulatory standards and quickly adapting to new risks is essential in this role. Overcoming these challenges requires strong organizational skills, continual learning, and proactive relationship management.

What are popular job titles related to Vendor Risk Management jobs in Ontario? For Vendor Risk Management jobs in Ontario, the most frequently searched job titles are:
What job categories do people searching Vendor Risk Management jobs in Ontario look for? The top searched job categories for Vendor Risk Management jobs in Ontario are:
Vendor Risk Management jobs near you
Infographic showing various Vendor Risk Management job openings in Ontario as of July 2026, with employment types broken down into 1% As Needed, 82% Full Time, 14% Part Time, 1% Temporary, and 2% Contract. Highlights an 91% Physical, 3% Hybrid, and 6% Remote job distribution, with an average salary of $100,886 per year, or $48.5 per hour.
Manager, Vendor & Risk Management

Manager, Vendor & Risk Management

Royal Bank of Canada

Toronto, ON • On-site

Full-time

Posted 14 days ago

Job description

Job Description

Manager, Vendor & Risk Management

What is the opportunity?

RBC's DevOps Program & Business Office is responsible for supporting the seamless functioning of the DevOps department, focusing on business planning, vendor management, program management, and risk management. We enable our technical teams by addressing legal and risk requirements to initiate proof of concepts, identify and mitigate risks for new software introduced to DevOps, and support software renewals to ensure continuous and effective technology use across our development community.

RBC's DevOps Business Management team is looking for an enthusiastic, and self-motivated Manager, Vendor & Risk Management to add to our team in Toronto. You'll be working as part of a small, innovative team to help enable technology enhancements within RBC's Software Development Lifecycle and help move the dial in the way we develop across the organization.

What will you do?

Vendor & Contract Management

  • Support with the vendor management process and consult with partnering teams to ensure smooth onboarding of new and existing software.
  • Manage business-as-usual (BAU) contract renewals across 30+ suppliers
  • Collaborate and liaise with key business partners and stakeholders to complete risk requirements for new and existing software within DevOps.
  • Lead end-to-end contract negotiations, amendments, and ensure alignment with RBC standards
  • Oversee new vendor onboarding from contract through implementation, support software exit processes
  • Support proof of concept requests and evaluate new software solutions with technical teams

Risk Management & Compliance

  • Conduct Supplier Risk Management Assessments following RBC's established process
  • Collaborate with key stakeholders to complete risk requirements for new and existing software
  • Ensure all suppliers meet RBC standards and requirements before approval
  • Monitor and mitigate vendor risk throughout the contract lifecycle

Financial Optimization

  • Align contract terms, pricing, and dollar spend with business strategy
  • Review user licensing and vendor spend to identify optimization opportunities
  • Provide visibility on total cost of ownership and eliminate unnecessary spend

Process Improvement & Reporting

  • Streamline and improve existing vendor management processes, update documentation and process flow diagrams
  • Support weekly/monthly reporting processes including project status reports and control book updates
  • Ensure alignment and clear communication across all business partners and stakeholders

What do you need to succeed?

Must Have

  • Bachelor's Degree in Information Technology, Business Administration, or related field
  • 3+ years of experience in vendor management and/ or risk management
  • Experience conducting risk assessments or compliance reviews
  • Proficiency with contract lifecycle management processes
  • Excellent communication and stakeholder management skills
  • Ability to work in a fast-paced environment with competing priorities and tight deadlines
  • Experience documenting and improving business processes
  • Ability to self-discover and learn undocumented systems and processes

Nice to Have

  • Background working with development teams or technical communities
  • Familiarity with DevOps tools and platforms (e.g., Confluence, development productivity tools)
  • Good business/ financial acumen (budget management, cost analysis, spend optimization)
  • Experience in IT or software vendor management
  • Understanding of software licensing models and optimization
  • Experience with Archer or similar risk management tools

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

  • A comprehensive Total Rewards Program including bonuses and flexible benefits
  • Leaders who support your development through coaching and managing opportunities
  • Ability to make a difference and lasting impact
  • Work in an agile, collaborative, progressive, and high-performing team
  • The opportunity to interface with senior level executives from many different parts of the organization

Job Skills

Additional Job Details

Address:

RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

TECHNOLOGY AND OPERATIONS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-06-11

Application Deadline:

2026-07-23

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.

Employment Type: FULL_TIME

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