Career Opportunity
Role Title
Senior Manager, Financial Risk Management
Purpose of role
The Senior Manager, Financial Risk Management, is responsible for strengthening the enterprise-wide risk management capability, with a primary focus on capital risk, model risk, and climate-related financial risk. A key outcome for this role is ensuring that material risks are effectively identified, assessed, monitored, governed, and communicated to senior management and Board committees.
The incumbent will provide strategic risk oversight, challenge, and integration across functional areas including Actuarial, Finance, Investments, IT, and Compliance while supporting the organization’s risk governance framework and regulatory expectations. The role will also manage and develop one direct report.
Job Description
Key Responsibilities
Capital Risk & ORSA
- Lead the independent risk assessment of capital adequacy, stress testing, and Own Risk and Solvency Assessment (ORSA) processes
- Lead the review and challenge of key model and market assumptions, scenarios, and management actions from a risk perspective
- Coordinate inputs across relevant functions to support a coherent, forward‑looking capital risk narrative for senior management and Board committees
- Contribute to clear articulation of capital vulnerabilities, sensitivities, and emerging risks.
Climate-Related Financial Risk Management
- Lead the Risk function’s climate‑related financial risk management
- Lead the research and development of a climate related financial modeling framework
- Coordinate climate risk scenario analysis and integration into Enterprise Risk Management (ERM) and ORSA processes
- Direct collaboration with Investments, Actuarial, and Sustainability stakeholders to ensure climate risk considerations are embedded into decision‑making
- Translate technical analysis into concise, decision‑useful insights for executive and Board audiences
Enterprise-wide Model Risk Governance
- Strengthen model risk governance from a Risk oversight perspective, supporting development and monitoring of model risk appetite and tolerances
- Provide effective challenge related to model use and reliance, including emerging model risks associated with advanced analytics and artificial intelligence
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Senior Manager, Financial Risk Management in Toronto employer: Foresters Financial
Foresters Financial is an exceptional employer that values leadership and professional growth, particularly in the dynamic role of AVP Internal Audit Operations. With a commitment to enhancing audit practices across North America and the UK, employees benefit from a collaborative work culture that fosters mentorship and skill development. The company offers unique opportunities for travel and engagement with senior leadership, making it an ideal place for those seeking meaningful and rewarding careers in financial services.
