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 explicit 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

Contribute to model risk awareness and education across senior management, governance forums, and the first line

Enterprise Risk Reporting & Communication

Support preparation of risk materials for executive and Board‑level committees

Focus on prioritization, clarity, and relevance of risk messaging, highlighting what matters most and why

Risk Governance & Coordination

Support the effectiveness of enterprise risk governance processes and forums

Enhance clarity of ownership and accountability across risk categories through effective coordination and RACI alignment

Act as a connector across first‑ and second‑line functions to ensure consistent understanding and management of enterprise risks

People Leadership

Lead, manage,



coach and develop one direct report through clear objectives, regular feedback and meaningful development opportunities

Key Qualifications

Education (minimum required): Bachelor’s degree in Actuarial Science, Mathematics or similar

Experience (minimum required): Looking for 10+ years

Qualified actuary or senior actuarial student with significant practical experience

Solid understanding of capital adequacy, stress testing, and enterprise risk management within financial services

Solid knowledge of model risk concepts and governance frameworks

Demonstrated ability to interpret and challenge complex technical information and communicate it clearly to senior audiences

Experience operating in cross functional environments with multiple stakeholders

Strategic thinking and sound judgment

Strong written and verbal communication skills

Ability to synthesize complex information into clear insights

Capable of providing challenge while maintaining collaborative relationships

Curiosity and ability to research emerging and evolving risk topics

#LI-Hybrid

Salary Range:

$121,000.00 - $159,500.00

The actual base salary for this position will depend on several factors, including job-related skills, experience, and education. In addition to base pay, eligible employees may participate in a discretionary variable incentive plan, results are subject to both individual and company performance.

Please note that this posting is intended to fill an existing vacancy; however, there may be instances where more than one vacancy is available for the same role.

Equal Opportunity Employment and Inclusion –

📌 Senior Manager, Financial Risk Management (Toronto)
🏢 Foresters Financial
📍 Toronto