Director, Artificial Intelligence Risk Management & Governance

Scotiabank; Toronto; On-site; CAD 180,000 - 260,000; Full time

Job summary

Scotiabank seeks a Director of Artificial Intelligence Risk Management & Governance to lead the enterprise AI risk program in Canada. You will define standards, ensure explainability, and align with OSFI, Fed SR 11-7, and NIST frameworks while partnering with risk, technology, and business teams.

You will build and lead a high-performing team, drive governance, reporting, and regulatory engagement to ensure safe scaling of AI across the bank. Location: Toronto, Ontario.

Qualifications

• 10+ years in AI risk, governance, or related risk management.
• Experience leading teams in a large financial institution.
• Strong knowledge of OSFI E-23, SR 11-7, NIST AI RM Framework.
• Excellent communication with executives and regulators.

Responsibilities

• Own AI risk governance framework and guardrails.
• Lead risk assessments for new AI initiatives.
• Provide guidance on regulatory expectations and compliance.
• Report AI risk exposure to senior management and regulators.

Skills

AI risk management

Leadership

Regulatory knowledge

Strategic thinking

Cross-functional collaboration

Job description

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Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose

The Director, Artificial Intelligence Risk Management & Governance leads the enterprise approach to identifying, assessing, and controlling risks arising from the use of artificial intelligence across the bank. The role defines and operates the AI risk management standard, sets guardrails that allow AI to scale safely, and partners with the business, technology, and the risk and control functions to ensure AI is trusted, explainable, and compliant with Canadian and U.S. regulatory expectations.

Is this role right for you? In this role, you will be involved in:

• Own the design, maintenance, and continuous improvement of the AI risk management standard, in alignment with Bank policies, including acceptable use and AI ethics requirements.
• Align the framework with applicable regulations and industry standards, such as OSFI E-23, U.S. Federal Reserve model risk guidance (SR 11-7), and the NIST AI Risk Management Framework.
• Maintain the AI control catalogue and map AI-specific risks to existing risk taxonomy categories, including model, privacy, third-party, cyber, operational, legal, and conduct risk.

AI Intake, Assessment, and Oversight

• Lead the AI risk assessment process, including tiering of use cases by risk, Trusted AI assessments, and required mitigations before deployment.
• Provide risk-based guidance and approval recommendations for generative AI and other emerging use cases, including conditions for client-facing or external use.
• Maintain the enterprise AI inventory and monitor use cases for ongoing compliance, performance, bias, explainability, and drift.
• Establish guardrails and restrictions for higher-risk capabilities, such as agentic AI, until governance and controls are in place.

Governance, Reporting, and Regulatory Engagement

• Support Data and AI steering groups and governance forums, with clear decision rights and escalation paths.
• Produce executive reporting on AI risk exposure, key risk indicators, issues, and remediation progress.
• Serve as a primary contact for regulators, internal audit, and second- and third-line functions on AI risk matters.
• Track the evolving regulatory and industry landscape and translate changes into practical requirements for the bank.

Partnership and Leadership

• Partner with Scotia Intelligence, Harbour, technology, and business lines to embed AI risk controls into delivery and the data lifecycle.
• Collaborate with Model Risk, Privacy, Legal, Compliance, Cybersecurity, and Third-Party Risk to ensure consistent, non-duplicative oversight.
• Lead and develop a team of AI risk professionals, fostering a culture of accountability, curiosity, and responsible innovation.
• Promote AI risk awareness through training, guidance, and clear, business-friendly communication.

Direct Reports: 4+

Do you have the skills that will enable you to succeed? We’d love to work with you if you have the following:

• 10+ years of progressive experience in AI risk, model risk, data risk, technology risk, responsible AI, or a related risk/governance discipline within a complex organization.
• 7+ years of leadership experience, including experience building, leading, and developing high-performing teams.
• Demonstrated experience developing and implementing enterprise AI, model, data, or technology risk management frameworks, standards, controls, and governance processes.
• Strong understanding of AI and emerging technology risks, including generative AI, model performance, explainability, bias and fairness, privacy, third-party risk, cybersecurity, and responsible AI considerations.
• Knowledge of relevant AI and model risk regulatory requirements and industry frameworks, including OSFI E-23, SR 11-7, NIST AI Risk Management Framework, and evolving AI regulatory expectations.
• Proven experience translating regulatory, risk, and technical requirements into practical controls, standards, processes, and guidance that enable responsible business adoption.
• Strong strategic and analytical capabilities, with demonstrated experience influencing senior leaders and partnering across business, technology, risk, compliance, legal, privacy, cybersecurity, and other control functions.
• Excellent relationship management and communication skills, with the ability to communicate complex AI and risk concepts clearly to technical, business, executive, audit, and regulatory audiences.

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know.

We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.