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Credit Risk Analyst Jobs in Toronto, ON (NOW HIRING)

PwC

Credit Risk Modelling Senior Associate

Toronto, ON · Hybrid

CA$73K - CA$122K/yr

Solid understanding and knowledge of credit risk processes, credit risk analytics, risk rating methodologies, risk managementpoliciesand risk management organization structures * Significant ...

HollisWealth

Credit Risk Officer

Toronto, ON · Hybrid

Conducting risk assessments, including financial analysis, industry research, and market trends, to identify emerging risks and opportunities within the credit lifecycle process (eg: Credit ...

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All JobsCredit Risk Analyst JobsCredit Risk Analyst Jobs in Toronto, ON

Credit Risk Analyst information

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$15

$36

$63

How much do credit risk analyst jobs pay per hour?

As of Jun 14, 2026, the average hourly pay for credit risk analyst in Toronto, ON is $36.48, according to ZipRecruiter salary data. Most workers in this role earn between $24.78 and $39.92 per hour, depending on experience, location, and employer.

What are some common challenges faced by Credit Risk Analysts when assessing new clients or loan applications?

Credit Risk Analysts often encounter challenges such as limited financial data, rapidly changing market conditions, and the need to balance risk with business growth objectives. They must carefully analyze incomplete or inconsistent client information while ensuring compliance with regulatory requirements. Collaborating with relationship managers and other departments is essential to gather additional insights and make informed recommendations, making strong communication and analytical skills crucial in overcoming these challenges.

What does a Credit Risk Analyst do?

A Credit Risk Analyst assesses the creditworthiness of individuals or organizations by analyzing financial data, credit reports, and economic conditions. Their main goal is to determine the likelihood that a borrower will default on their financial obligations. They use statistical models, risk assessment tools, and industry knowledge to evaluate risk and help lenders make informed lending decisions. Credit Risk Analysts often prepare reports, recommend risk mitigation strategies, and monitor existing credit portfolios for potential risks.

What are the key skills and qualifications needed to thrive as a Credit Risk Analyst, and why are they important?

To thrive as a Credit Risk Analyst, you need strong analytical skills, a solid understanding of financial principles, and typically a degree in finance, economics, or a related field. Familiarity with risk assessment tools, statistical software (such as SAS or R), and financial modeling systems is often required, along with relevant certifications like FRM or CFA being advantageous. Attention to detail, effective communication, and sound judgment are essential soft skills for presenting findings and collaborating with stakeholders. These competencies are crucial for accurately assessing creditworthiness, minimizing financial risk, and supporting informed lending decisions.

How much does a Credit Risk Analyst make?

The average salary for a Credit Risk Analyst at Goldman Sachs is typically between $70,000 and $120,000 annually, depending on experience, location, and level of seniority. Compensation may also include bonuses and benefits, with higher salaries often associated with advanced certifications and specialized skills in risk assessment and financial analysis.

What Does a Credit Risk Analyst Do?

A credit risk analyst evaluates the creditworthiness of individuals or businesses seeking loans or credit cards. As a credit risk analyst, you must be systematic and thorough in examining each applicant’s financial information to provide a recommendation of whether or not your employer should grant credit to the applicant. Essentially, you are evaluating the risk to reward ratio of each loan applicant. Your job duties include the analysis of credit scores and credit reports, payment history, bank statements, and other financial statements. Depending on the scope of your job, you may collect this information directly from clients and inform them if the institution can approve or deny their credit or loan application.

Will a credit analyst be replaced by AI?

Credit risk analysts perform tasks such as evaluating financial data and assessing creditworthiness, which involve judgment and interpretation that AI currently cannot fully replicate. While AI tools can automate data analysis and streamline processes, human analysts are still essential for complex decision-making and risk assessment. The role is evolving to include working alongside AI technologies to improve efficiency and accuracy.

How much do risk analysts get paid?

Risk analysts, including credit risk analysts, typically earn a median annual salary of around $70,000 to $90,000, depending on experience, location, and industry. Entry-level positions may start lower, while experienced analysts with certifications like CFA or FRM can earn higher salaries and bonuses.

What is the difference between Credit Risk Analyst vs Credit Analyst?

AspectCredit Risk AnalystCredit Analyst
Primary FocusAssessing the risk of default on loans and credit productsEvaluating creditworthiness of individual or business applicants
Required CredentialsTypically a degree in finance, economics, or related field; certifications like CFA or credit-specific coursesSimilar credentials; often the same certifications or degrees
Work EnvironmentFinancial institutions, risk management departmentsBanks, lending institutions, credit departments
Industry UsageCommonly used in risk assessment and managementPrimarily in lending and credit evaluation

While both roles involve evaluating credit, a Credit Risk Analyst focuses on assessing the overall risk associated with credit portfolios, whereas a Credit Analyst evaluates individual credit applications. The roles often overlap in credentials and work environment, but their specific focus differs within the credit industry.

What do credit risk analysts do?

Credit risk analysts evaluate the creditworthiness of individuals or organizations to determine the likelihood of default on loans or credit agreements. They analyze financial data, credit reports, and economic trends, often using specialized software, to assess risk levels and recommend credit limits or approval decisions. Their work helps financial institutions manage potential losses and ensure sound lending practices.
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Credit Risk Analyst jobs near you
Infographic showing various Credit Risk Analyst job openings in Toronto, ON as of June 2026, with employment types broken down into 87% Full Time, 11% Part Time, and 2% Contract. Highlights an 81% Physical, 9% Hybrid, and 10% Remote job distribution, with an average salary of $75,882 per year, or $36.5 per hour.
Manager, Customer Risk Analytics, Retail Credit Risk

Manager, Customer Risk Analytics, Retail Credit Risk

Scotiabank

Toronto, ON • On-site

Other

Posted 11 days ago

Job description

Requisition ID: 263536 
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Manager, Customer Risk Analytics, Retail Credit Risk, GRM is responsible in monitoring, conducting analysis and making fact-based recommendations across Retail Credit portfolios. The incumbent will deliver customer level analysis in order to provide holistic actionable insights and product-specific risk analytics. Analytics will include, but not limited to, monthly monitoring on balances, delinquency, portfolio and acquisition credit quality. The role is highly technical and requires expert SAS/Python, data analytics and BI tools skills. The incumbent will deliver ongoing portfolio reporting and monitoring to senior management, as well as address ad-hoc data requests. This role works with multiple stakeholders and partners within and outside Scotiabank.

Is this role right for you? In this role, you will:

Accountability 1: Retail Credit Risk Portfolios Tracking & Reporting

  • Use a variety of analytical and reporting tools (ex. SAS, Python, Tableau) to provide dynamic reporting on key performance metrics to various stakeholders in GRM and business lines.
  • Respond to adhoc requests from executives and key stakeholders with a sense of urgency. Perform required data pulls, reconciliations to answer questions. Prioritization and working on more than one request at a time is often required.
  • Provide actionable insights and meaningful messages from the reporting to drive credit risk decisions. Able to tell a story by synthesizing vast amounts of data into coherent messages.
  • Proactively provide strategic analysis that will assist in optimizing risk rewards ratios and grow the portfolios.
  • Collaborate with Acquisition, Account Management and Collections teams to provide measurement and reporting on strategic initiatives such as acquisition dynamics and quality, line optimization and collections effectiveness

Accountability 2: Customer Risk Analytics

  • Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Identification of portfolio trends and key statistics using advanced analytics; Effective and timely communication of strategic and operational results to the business teams
  • Provide analytical support on a regular and ad-hoc basis focusing on driving business growth and profits and minimizing loss
  • Leverage internal/external analytics tools as well current macroeconomic & industry trend to evaluate its impact on customer & profitability of the bank; keep senior management abreast with these insights and recommendation to mitigate those risks
  • Work closely with Global Risk Management teams to understand intrinsic & external risk factors for the lending portfolio; develop risk management strategies to optimize risk and revenue
  • Using our data, continually develop and refine a more holistic customer view.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

  • In-depth analytics experience and solid business acumen are required. Extensive analytics and decision support experience is strongly preferred along with a comprehensive understanding of portfolio optimization and financial P&L levers.
  • Proactive, self-directed, and able to work independently as well as collaboratively in a team
  • The incumbent must have a good knowledge of the bank's lending products, including Credit Cards, Line of Credits, Mortgages, and Auto Loans and should have familiarity with the Bank's Risk Management activities.
  • Proficiency utilizing a variety of analytical tools including Python, R, SAS, SQL and Excel and a solid knowledge and understanding of advanced analytical concepts and methodologies.
  • A proven ability to extract and interpret data; transform it into meaningful and actionable business insights effectively and accurately.
  • Exceptional oral and written communication skills, with a demonstrated ability to present and translate highly technical concepts to a wide audience.
  • A strong sense of urgency and a proven ability to understand, and effectively assess multiple, ongoing requests.
  • Strong prioritizing, planning, analytical, presentation, project management, people management and relationship building skills
  • Proven track record of success in maintaining, leading and motivating a productive team of analytics professionals.
  • Displays a high level of analytical maturity and sophistication, financial acumen and a solid understanding of profit drivers, KPIs and other factors that will contribute to successful growth initiatives.
  • Bachelor's Degree in Math, Engineering, Computer Science, Marketing, Economics or Statistics
  • 2+ years analytical experience required
  • 2+ years' experience in Database Marketing and/or Risk Analytics
  • Must be proficient with MS Office, SAS/Python, SQL, Power BI, Tableau
  • Strong prioritizing, planning, analytical, presentation, project management, people management and relationship building skills
  • 2+ years' experience in Retail Products (preferred)

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. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. 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.

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