ERM Product Risk, Lead# Careers at Interac Corp.## ERM Product Risk, LeadApply: Toronto: Full time: Posted 30+ Days Ago: REQ-2164Who We Are:Every transaction matters. Every Canadian matters. At Interac, we protect both — driving trust, security, and inclusion, so our digital economy thrives. Founded in 1984, Interac connects Canadians through secure digital payments, advanced identity verification and industry-leading fraud protection. Connecting banks, businesses, and individuals, Interac enables millions to send, receive, and manage money safely and effortlessly every day — across both digital and physical environments.
As the backbone of Canada’s financial ecosystem, Interac facilitates over 20 million transactions daily, supported by trusted partnerships with government and financial institutions. Consistently ranked as Canada’s most reputable financial technology brand, Interac is deeply embedded in the daily lives of Canadians.Who You Will Work With:The vacant Product Risk Lead position will report to our Risk Management Leader and operate as an experienced second line leader within the Enterprise Risk Management team. The Product Risk Lead provides independent second line oversight and challenge across the product lifecycle, from strategy and design through launch, operation, material change, and retirement. The role maintains focused oversight of products and services supporting Prominent Payment Systems, including their platforms, participants, critical service providers, and operational dependencies. This role ensures that ERM standards, risk appetite, taxonomy, control requirements, and issue management practices are applied consistently to product and payment systems risk. It enables risk informed decisions through independent assessment, credible challenge, monitoring, aggregation, and escalation,



with particular focus on operational risk, operational resilience, incidents, deficiencies, risk acceptance, concentration risk, and third party dependencies. The Product Risk Lead contributes to the broader Product and Platform Risk mandate by identifying cross product themes, strengthening enterprise insight, and supporting consistent oversight across product teams, business units, and functional groups. The role engages early with the first line while maintaining clear accountability boundaries: the first line owns product delivery, controls, assessments, incidents, and remediation; the Product Risk Lead provides independent oversight, challenge, monitoring, and escalation.What You Will Do:Product and Payment Systems Risk Oversight* Provide independent second line oversight and credible challenge across product strategy, design, launch, operation, material change, and retirement.
* Maintain focused oversight of products and services supporting Prominent Payment Systems, including platforms, participants, critical service providers, and material operational dependencies.
* Assess product and payment systems risk against enterprise risk appetite, taxonomy, policies, standards, and regulatory expectations.
* Independently review and challenge first line risk assessments, control design, residual risk conclusions, remediation plans, and risk acceptance decisions.




* Independently assess whether risk acceptance decisions are adequately supported, within delegated authority, time limited where appropriate, and escalated when exposure is outside approved appetite or tolerance.
* Oversee operational risk exposure, including incidents, control deficiencies, service disruption, processing risk, concentration risk, third party dependencies, and operational resilience.
* Assess the risk implications of material product, platform, technology, process, and third party changes, and provide independent second line review and challenge of support regulatory notification decisions notifications and supporting evidence without assuming ownership of the notification process where required.
* Monitor risk indicators, control performance, incidents, deficiencies, and remediation progress, escalating material concerns and policy deviations.
* Formally document unresolved second line challenge and escalate material concerns through the applicable product, executive, and risk governance pathways when first line action is not timely or sufficient.
* Aggregate product level insights to identify systemic exposure, cross product themes, emerging risks, and enterprise level implications.
* Assess forward looking product risks, including customer harm, market conduct, fraud evolution, technology concentration, data and artificial intelligence risk, ecosystem change, and unintended product outcomes, where relevant.
* Prepare independent risk reporting for management and Board risk committees, including explicit conclusions, trends, decisions, and required actions.
* Promote risk informed decision making by translating ERM requirements into practical guidance without assuming first line ownership.
* Provide oversight

📌 ERM Product Risk, Lead (Toronto)
🏢 Interac
📍 Toronto