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Credit Risk Associate Jobs in Ontario (NOW HIRING)

BMO Capital Markets

Associate

Mississauga, ON

CA$56K - CA$103K/yr

Minimizes BMO's risk exposure by adhering to credit policies, regulatory standards, and operational guidelines. * Serves as a point of contact for service requests, ensuring expectations are ...

Td

Associate Capital Solutions, TDIP

Toronto, ON · On-site

CA$81K - CA$115K/yr

Recommending credits to Associate Director/Director, Capital Solutions and Commercial Credit Risk Management. * Preparing annual reviews and interim credit requests for your portfolio of clients ...

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Credit Risk Associate information

See Ontario salary details

$28K

$83.3K

$116K

How much do credit risk associate jobs pay per year?

As of Jul 7, 2026, the average yearly pay for credit risk associate in Ontario is $83,273.00, according to ZipRecruiter salary data. Most workers in this role earn between $80,000.00 and $99,500.00 per year, depending on experience, location, and employer.

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

To thrive as a Credit Risk Associate, you need strong analytical skills, attention to detail, and a solid understanding of financial statements, typically backed by a degree in finance, economics, or a related field. Familiarity with risk assessment software, credit modeling tools, and proficiency in Excel or similar data analysis programs are essential technical requirements. Strong communication, problem-solving abilities, and sound judgment help you effectively collaborate with stakeholders and make informed recommendations. These skills and qualities are crucial for accurately assessing creditworthiness and minimizing financial risk for the organization.

What does a Credit Risk Associate do?

A Credit Risk Associate is responsible for assessing and managing the risk that a borrower may default on a loan or credit obligation. They analyze financial statements, credit reports, and market data to evaluate the creditworthiness of individuals or companies. Their work helps financial institutions make informed lending decisions, set appropriate credit limits, and comply with regulatory requirements. Credit Risk Associates also monitor existing credit exposures and may recommend strategies to mitigate potential losses.

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

AspectCredit Risk AssociateCredit Analyst
Required CredentialsBachelor's degree, relevant certifications often preferredBachelor's degree, certifications like CFA or credit-specific courses beneficial
Work EnvironmentFinancial institutions, banks, credit agenciesBanks, investment firms, credit rating agencies
Employer & Industry UsageCommonly used in risk management teamsUsed in credit assessment and lending decisions
Comparison Search IntentUnderstanding risk roles in creditAnalyzing creditworthiness of clients

Both roles involve assessing credit-related information, but Credit Risk Associates focus on managing overall risk exposure, while Credit Analysts evaluate individual creditworthiness. The roles often overlap in skills and industry settings, making them closely related but distinct in scope.

How does a Credit Risk Associate typically collaborate with other teams within a financial institution?

Credit Risk Associates work closely with various departments, including front-office lending teams, compliance, and portfolio management. They regularly communicate with relationship managers to gather client information, and partner with data analysts to assess credit models and risk metrics. This collaborative environment ensures that credit decisions are well-informed and compliant with internal policies. Being proactive and communicative is key, as the role often requires balancing risk assessment with business growth objectives.
What are the most commonly searched types of Credit Risk jobs in Ontario? The most popular types of Credit Risk jobs in Ontario are:
What are popular job titles related to Credit Risk Associate jobs in Ontario? For Credit Risk Associate jobs in Ontario, the most frequently searched job titles are:
What job categories do people searching Credit Risk Associate jobs in Ontario look for? The top searched job categories for Credit Risk Associate jobs in Ontario are:
What cities in Ontario are hiring for Credit Risk Associate jobs? Cities in Ontario with the most Credit Risk Associate job openings:
Credit Risk Associate jobs near you

Associate Director, Commercial Credit, CMHC

EQ Bank | Equitable Bank

Toronto, ON

Full-time

Medical, Dental, Vision, Life, PTO

Posted 15 days ago

Job description

Join a Challenger
At EQB, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions. 
We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.
What's kept us moving?  The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.
If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity. 
We can't wait to get to know you! 


The Work
 
The Associate Director, Commercial Credit is responsible for managing and supervising a group of underwriters (at different levels of seniority) and administrators to ensure that the department is providing optimum service, working efficiently and effectively as a team, adhering to established policies and underwriting standards, meeting compliance and control requirements, achieving service goals and assisting with the achievement of anticipated department annual financial objectives. The Associate Director, Commercial Credit is responsible for monitoring the commercial pipeline report, managing the credit flow, approving or recommending commercial mortgage facilities within assigned credit limits and leading and developing an effective team, ensuring that all critical functions meet the company's lending and regulatory requirements.  Additional credit related and administrative duties are also required to support Senior Management and regulatory requirements.  The Associate Director is responsible for communicating and co-operating with external Business Partners, Lending Partners, Clients and Brokers as well as staff within the Credit & Risk Management group and other internal departments.  
The core parts of your role would be to:
  • Review and analyze all commercial mortgage reviews and proposals (including originations, amendments and/or updates), together with supporting credit related documentation.  Attention must be made to ensure that compliance with the company's established lending guidelines, procedures and regulatory requirements (including AML/ATF requirements) are followed with recommendations submitted for approval to management.  The incumbent is responsible to ensure all criteria has been satisfied on underwritten commercial mortgage reviews and outstanding documentation/conditions, if any, are being met in a timely manner. A majority of the reviews are comprised of complicated loans requiring higher levels of approval which include thinking out of the box (as there might not be established procedure addressing it), working on mitigants to safeguard the Banks' interest and providing recommendations accordingly (35%).
  • Lead their team by providing support, guidance and mentoring.  The incumbent will be the first point of contact for Senior Management and will be responsible for ensuring that their team adheres to company policy and guidelines as well as regulatory requirements.  The incumbent will also be the person responsible for resolving day to day department challenges, assess individual staff member training needs and ensure that they are met so that the individual is able to perform his/her job effectively (20%).
  • Attend New Deal meetings where new loans are presented to the Credit team and will be required to opine on them. This will include heading up the meetings in lieu of the Director if required (20%).
  • Responsible for time management of their work flow, as well as that of the department, in order to meet prescribed deadlines. The intention is to have a 24 hour turn around for a loan submitted for review (15%).
  • Communicate with internal contacts (Senior Management, Underwriters, Administrators, and Commercial Funders) and external contacts (Lending Partners, Brokers and Clients) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service (10%). 
Let's Talk About You!
  • Have a minimum of 10 years' mortgage experience with 5 years of management experience.
  • Post-secondary education (diploma/degree), preferably in business or finance  
  • Demonstrate leadership skills with the ability to set strong examples for subordinates
  • Working knowledge of AML/ATF regulations and Corporate/Legal documentation (both direct and partner originated transactions) for commercial real estate in multiple jurisdictions across Canada
  • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
  • Proven ability to inspire a team to work toward a set of goals and objectives
  • Highly developed verbal and written communication skills with the ability to communicate to Senior Management and Partners in a clear, concise and professional manner
  • Sound technical knowledge of commercial real estate underwriting, financial statement analysis and factors affective the commercial mortgage market
  • Effective analytical and problem solving skills
  • Strong organizational and time management skills
  • Ability to handle multiple competing priorities
  • Proficient in MS Office 
Job Complexities/Thinking Challenges
The position requires the incumbent to make sound underwriting decisions as efficiently as possible. The incumbent should be prepared to manage files of greater complexity at all times and shall possess strong cognitive skills, professional judgement and the ability to work independently with minimal supervision to properly assess individual transactions and rely on past experiences to assist in mitigating risk. The incumbent is required to follow corporate policies, procedures and regulatory requirements in order to work through files and rationalize the recommendations or decisions made.  Transactions may be presented from multiple external partners, each partner having unique complexities.  As such, the incumbent must be able to draw on specific product/document knowledge to assess suitability.  In addition to exercising professional judgement, strong problem solving skills with respect to AML/ATF risk and related documentation are required as the incumbent will be responsible for preparing and recommending risk mitigation actions to the Business Unit Compliance Officer and/or the Compliance Department.  The incumbent will also experience the common day to day challenges that come with leading and supervising people.  
What we offer [For full-time permanent roles]
 
Competitive discretionary bonus 
Market leading RRSP match program
  Medical, dental, vision, life, and disability benefits
  Employee Share Purchase Plan
Maternity/Parental top-up while you care for your little one
Generous vacation policy and personal days 
  Virtual events to connect with your fellow colleagues
  Professional development and comprehensive Career Development program
  A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
 
The incumbent will be working hybrid and in office time will be spent working from EQ Bank's additional office space located at 2200-25 Ontario Street, Toronto, ON.


Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger - and our people thrive - when we honour and celebrate diverse experiences, identities, and perspectives. We're equally committed to supporting your growth, both professionally and personally.

We provide a barrierfree recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration. 
To learn more, visit eqb.investorroom.com and eqbank.ca.

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