Risk Specialist Sr, Model Risk (Contract until April 2027)

Job Description

Current work authorization for Canada is required for all openings. You will be working on a hybrid schedule as part of Fidelity’s dynamic working arrangement. The work location for this role is 483 Bay Street in Toronto until approximately late 2026, when the work location will change to the new Mississauga office at 3 Robert Speck Parkway. Please note this is a contract role ending April 26, 2027.

Who We Are

At Fidelity, we’ve been helping Canadian investors build better financial futures for over 35 years. We offer individuals and institutions a range of trusted investment portfolios and services - and we’re constantly seeking to find new and better ways to help our clients. As a privately owned company, we boldly embrace innovation in all areas as we continue to grow our business into the future. Working with us means you’ll be part of a diverse and dedicated group of people who make a real difference for our clients and communities every day. You’ll have a wide range of opportunities to grow and develop your career in an inclusive environment where you’ll feel valued and supported to be your best - both personally and professionally.

What We Do

Reporting to the Manager, Risk Management, the Risk Specialist, Sr conducts ongoing monitoring/oversight, provides regular detailed reporting on the status of risk programs, consult, and provides independent challenge on control effectiveness. This role provides analysis, monitoring, and challenge to identify areas for improvement and remediation by business units to support a sound operational environment.

How You’ll Make an Impact

Program Monitoring, Oversight, and Reporting: Effectively maintain Risk Management Programs on a day-to-day basis to identify, monitor and assess risk. Programs include but are not limited to Model Risk Management, AI Risk, Change/Project Risk Management, End User Computing, and Ad-hoc Risk Assessment. Define, implement, and maintain the organizational Model risk framework to assess model risk and complexity and drive additional risk control activities. Ensure programs are consistently assessed; Program policy, guidelines, and internal procedures documents are kept up to date and relevant. Issues encountered during real-time monitoring or through formal reviews are escalated appropriately and effectively to the Manager, Risk Management. Ensure program reporting is kept current and distributed to key stakeholders. Areas for improvement and remediation are identified and consensus built on recommended solutions. Independently challenge the status quo in a respectful manner. Provide awareness and promote strong risk management practices and principles across the organization through effective communication and training to ensure risk management programs are understood.

Training and Risk Culture: Provide awareness and promote strong risk management practices and principles across the organization through effective communication of Polices and Programs. Develop, maintain, and deliver effective training on risk Programs and Policies to FIC employees through a variety of mediums including online and face-to-face so that policies are understood, and that employees are equipped to recognize and elevate knowledge of material risk. Promotes awareness to ensure that business understand their roles and responsibilities Advocate for a strong risk culture and drive change.

Project Risk, Policies and Procedures: Participate in complex or highly critical projects to ensure risks are appropriately identified, assessed, and challenged. Ensures all stakeholders are appropriately trained on the project risk framework and requirements, risk concepts including risk identification, assessment, and action planning. Verifies adherence to risk framework, ensures required risk control activities are completed and operating effectively Consistently advocates for strong risk management principles and builds trusted relationships with all stakeholders. Actively participates in project meetings and supports, challenges, and identifies critical/material project implementation/delivery and BAU risks. Ensures accountability of stakeholders and actively asks questions and challenges the status quo. Proactively questions and assesses project risks and provides effective challenge. Evaluates identified risks in collaboration with risk owners and proposed response plans. Participates actively in post implementation lessons learnt and continuous improvement discussions.

Ad-hoc Risk Assessments: As required, conduct ad-hoc risk assessments for high-risk processes and critical projects or business functions. Assess new and/or changes to operational processes including process mapping, risk and control documentation and evaluation and action planning. Provide value-add recommendations to stakeholders for operational readiness decisions. Ensures material residual risks are identified, action plans are identified and are robust.

What We’re Looking For

• Completion of a University degree or equivalent work experience
• 3+ years of relevant risk experience
• Model Risk Management experience is an asset
• Familiarity with standards and frameworks like ISO/IEC 42001, Artificial Intelligence - Management System (ISO 42001) and the NIST AI Risk Management Framework (RMF) is an asset
• Machine Learning/ Technology /Agile Risk Management experience is a nice to have

What You Will Bring

• Ability to work in a fast-paced environment to defined deadlines
• Strong analytical skills, problem-solving ability and attention to detail
• Good communication skills, ability to engage with individuals at all levels
• Capable of assimilating complex material, and to identify and discuss complicated concepts
• Able to work on own initiative and develop practical solutions under pressure
• Good knowledge of risk management processes and procedures
• Knowledge of financial services products, processes, and industry is an asset

Competitive Pay for Specialized Talent

This contract role offers a flexible, hourly compensation model that reflects your expertise and the value you bring. The hourly rate ranges from $46.00 to $68.00, based on experience and qualifications. We offer market-aligned rates that recognize the specialized skills and agility required for this role. We’re proud to offer a compensation package that aligns with provincial pay transparency requirements.

Benefits

• Flexible working arrangements that vary based on role requirements
• Competitive total compensation, including company contributions to your group RRSP without a matching requirement from you
• Comprehensive health benefits that start on your first day, with 100% employer-paid premiums, that include up to $6000 annually for mental health services and therapy
• Parental leave top-up to 100% of your salary for a period of 25 weeks
• Up to $650 for home office equipment
• Generous time off policy, including 2 paid days annually to volunteer at a charity of your choice
• Diversity and inclusion programs, including an active network of Employee Resource Groups
• Extensive professional development opportunities, including access to over 11,000 training and development courses, tuition reimbursement, and monetary rewards for completing a required designation

Equal Opportunity and Accessibility

Fidelity Canada is an equal opportunity employer. Fidelity Canada is committed to fostering a diverse and inclusive workplace. We will consider all qualified applicants for employment regardless of race, color, religion, sex, sexual orientation, gender identity or expression, national or ethnic origin, age, disability, family status, protected veterans’ status, Aboriginal/Native American status or any other legally-protected ground.

Accommodation during the application process: Fidelity Canada welcomes and encourages applications from people with disabilities. Accommodations are available on request for candidates taking part in the selection process.

Why Work at Fidelity?

• Canada’s Top 100 Employers
• Greater Toronto's Top Employers
• Canada's Top Family-Friendly Employers
• Canada's Top Employers for Young People
• Great Place To Work® Certified
• Best Workplaces for Inclusion
• Best Workplaces for Mental Wellness
• Best Workplaces for Today's Youth
• Best Workplaces for Women
• Best Workplaces in Financial Services & Insurance
• Best Workplaces in Ontario
• Best Workplaces with Most Trusted Executive Teams
• LinkedIn Top Companies in Canada
• Human Resource Director (HRD) - Best Place To Work
• HRD - 5-Star Benefit Program
• HRD - 5-Star Diversity & Inclusion Employer Designations
• Canadian Compassionate Companies – Certified
• Benefits Canada's Workplace Benefits Award - Future of Work Strategy
• TalentEgg National Recruitment Excellence Award - Special Award for Diversity & Inclusion in Recruiting
• Canadian HR Reporter’s Most Innovative HR Team

About Us

Fidelity Canada has become an employer of choice for talented people seeking rewarding career opportunities in the financial services industry. We look to hire outstanding individuals who want to maximize their potential and be challenged in all aspects of their professional careers. To help our employees excel in their roles at Fidelity, we provide everyone here with the best training, resources and support possible throughout their careers. With our help, there’s no limit to what you can accomplish here. We’re excited you’re considering Fidelity for your career plans.