Manager / Senior Manager, AI Model Risk & Operational Risk Oversight, Global Risk

Manulife Insurance Malaysia; Toronto; Hybrid; CAD 113,000 - 163,000; Full time

Benefits offered by this job

Health benefits

Retirement savings plans

Paid time off

Job summary

Manulife is seeking an experienced risk professional to lead independent second-line oversight of AI model risks and operational risks across AI-enabled platforms and processes. You will review high-risk AI use cases, assess governance and regulatory compliance, and provide independent risk opinions to senior leaders.

The role requires 7+ years at Manager level or 10+ years at Senior Manager level, with a background in risk management, AI, and technology controls.

Qualifications

• 7+ years of relevant experience for Manager-level candidates or 10+ years for Senior Manager-level candidates.
• Bachelor's degree in Computer Science, Data Science, Artificial Intelligence, Statistics, Mathematics, Engineering, Risk Management, Business, or a related discipline.
• Experience in Operational Risk, Technology Risk, Model Risk Management, Enterprise Risk Management, Internal Audit, Compliance, or related risk functions.
• Experience assessing or overseeing AI, machine learning, advanced analytics, or technology-enabled solutions.
• Strong understanding of risk management frameworks, governance practices, control environments, and regulatory requirements within a regulated industry.
• Demonstrated ability to influence senior stakeholders and provide independent challenge on complex risk matters.
• Strong written, verbal, analytical, and presentation skills.
• Bilingualism (English and French) is a strong asset.
• If the successful candidate is in Québec, proficiency in both languages will be required to support clients from various provinces outside of Quebec.

Responsibilities

• Provide independent second-line oversight and challenge of AI model risks and operational risks associated with AI-enabled solutions, platforms, and business processes.
• Review and assess medium- and high-risk AI use cases, ensuring risks are appropriately identified, evaluated, mitigated, monitored, and escalated.
• Evaluate AI governance, model risk management practices, operational controls, monitoring programs, incident management activities, and regulatory compliance processes.
• Assess risks associated with machine learning models, Generative AI, large language models, foundation models, third-party AI services, and Agentic AI solutions.
• Review operational resilience, technology risk, third-party risk, change management, access controls, and incident response processes supporting AI solutions.
• Conduct thematic reviews to identify emerging risks, recurring control weaknesses, governance gaps, and systemic issues across AI portfolios.
• Develop and communicate independent risk opinions, oversight assessments, executive reporting, and committee materials.
• Provide effective challenge to business, technology, data science, and governance stakeholders while maintaining clear second-line independence.
• Support the evolution of AI Model Risk Management and Operational Risk Management frameworks, standard, methodologies, and governance practices.
• Monitor emerging industry trends, regulatory developments, and leading practices related to AI, technology risk, and responsible AI.

Skills

Independent risk oversight

AI governance

Regulatory compliance

Stakeholder influence

Analytical & presentation skills

Bilingual English/French

Operational risk

Python

SQL

Education

Bachelor's degree in Computer Science/Data Science/AI/Statistics/Engineering

Tools

Python

SQL

Job description

Position Responsibilities

• Provide independent second-line oversight and challenge of AI model risks and operational risks associated with AI-enabled solutions, platforms, and business processes.
• Review and assess medium- and high-risk AI use cases, ensuring risks are appropriately identified, evaluated, mitigated, monitored, and escalated.
• Evaluate AI governance, model risk management practices, operational controls, monitoring programs, incident management activities, and regulatory compliance processes.
• Assess risks associated with machine learning models, Generative AI, large language models, foundation models, third-party AI services, and Agentic AI solutions.
• Review operational resilience, technology risk, third-party risk, change management, access controls, and incident response processes supporting AI solutions.
• Conduct thematic reviews to identify emerging risks, recurring control weaknesses, governance gaps, and systemic issues across AI portfolios.
• Develop and communicate independent risk opinions, oversight assessments, executive reporting, and committee materials.
• Provide effective challenge to business, technology, data science, and governance stakeholders while maintaining clear second-line independence.
• Support the evolution of AI Model Risk Management and Operational Risk Management frameworks, standard, methodologies, and governance practices.
• Monitor emerging industry trends, regulatory developments, and leading practices related to AI, technology risk, and responsible AI.

Required Qualifications

• 7+ years of relevant experience for Manager-level candidates or 10+ years for Senior Manager-level candidates.
• Bachelor's degree in Computer Science, Data Science, Artificial Intelligence, Statistics, Mathematics, Engineering, Risk Management, Business, or a related discipline.
• Experience in Operational Risk, Technology Risk, Model Risk Management, Enterprise Risk Management, Internal Audit, Compliance, or related risk functions.
• Experience assessing or overseeing AI, machine learning, advanced analytics, or technology-enabled solutions.
• Strong understanding of risk management frameworks, governance practices, control environments, and regulatory requirements within a regulated industry.
• Demonstrated ability to influence senior stakeholders and provide independent challenge on complex risk matters.
• Strong written, verbal, analytical, and presentation skills.
• Bilingualism (English and French) is a strong asset.
• If the successful candidate is in Québec, proficiency in both languages will be required to support clients from various provinces outside of Quebec.

Preferred Qualifications

• Experience within financial services, insurance, banking, or another highly regulated industry.
• Knowledge of AI Model Risk Management frameworks and model lifecycle governance practices.
• Familiarity with Generative AI, large language models (LLMs), foundation models, retrieval-augmented generation (RAG), and Agentic AI solutions.
• Understanding of technology risk, operational resilience, third-party risk, cybersecurity, and AI governance frameworks.
• Practical familiarity with Python, SQL, analytics tools, or machine learning environments.
• Experience developing executive reporting, risk assessments, governance committee materials, or oversight opinions.
• Knowledge of emerging regulatory expectations related to AI, model risk, operational risk, or technology risk management.

When you join our team

We’ll empower you to learn and grow the career you want. We’ll recognize and support you in a flexible environment where well‑being and inclusion are more than just words.

As part of our global team, we’ll support you in shaping the future you want to see.

#LI-Hybrid

The role being advertised is an existing vacancy.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer. At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals.

We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy‑related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [e-mail].

Referenced Salary

Location: Toronto, Ontario

Working Arrangement: Hybrid

• Salary range is expected to be between $113,000.00 CAD - $163,000.00 CAD
• Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.
• The actual salary will vary depending on local market conditions, geography and relevant job‑related factors such as knowledge, skills, qualifications, experience, and education/training.
• If you are applying for this role outside of the primary location, please contact [e-mail] for the salary range for your location.

Benefits

• Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short‑and long‑term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans.
• We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources.
• Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence.

We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.

We're Manulife. And we’re on a mission to make decisions easier and lives better. Better is what drives us. It’s what inspires us to find new ways to support customers and colleagues in living longer and healthier lives. It’s the reason we’re dedicated to investing in digital innovation and accelerating a sustainable and economically inclusive future.

Joining us means you’ll be empowered to learn and grow your career. We’ll recognize and support you in a flexible environment where well‑being and inclusion are more than just words. And as part of our global team, you’ll help shape the future you want to see – and discover that better can take you anywhere you want to go.

We’re proud of our accomplishments and recognitions. Recent awards include: 2024 Gallup Exceptional Workplace Award Winner Manulife Named one of Forbes World’s Best Employers 2023 Best Companies to Work for in Asia 2023 We’ve been recognized as one of Canada’s Top 100 Employers (2024) Manulife included in Bloomberg’s 2023 Gender-Equality Index.