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Credit Risk Model Validation Jobs in Ontario (NOW HIRING)

Deloitte

Analyst, Credit Risk Models

Toronto, ON · On-site

CA$56K - CA$84K/yr

For candidates with backgrounds in banking, consulting, model development, or model validation, this is an opportunity to broaden your exposure while continuing to enhance your deep credit risk ...

Fig

Data Science Manager, Risk

Toronto, ON · On-site

This is an exciting opportunity to work across multiple data science disciplines, including credit risk model development, alternative labeling strategies, reject inference, model validation and ...

MUFG

Model Risk Management Analyst, AVP

Toronto, ON

The AVP, Model Validation Quantitative Analyst within the Quantitative Risk Control (QRC) supports ... Strong skills in quantitative methods including statistical analysis, and credit risk modeling

PwC

Credit Risk Modelling Senior Associate

Toronto, ON · Hybrid

CA$73K - CA$122K/yr

Model development, validation, internal auditof Retail and Wholesale credit risk methodologies including obligor and facility risk rating, Basel regulatory capital and economic capital models ...

Scotiabank

Manager, Model Validation

Toronto, ON · On-site

This role executes validations in line with the Bank's Model Risk Management Policy and regulatory expectations, working closely with model developers and stakeholders across Treasury, Risk ...

goeasy

Risk Analyst (Credit Risk)

Mississauga, ON · On-site

CA$70K - CA$82K/yr

Apply observations to loss forecasting models to capture current trends and communicate to Senior ... validation of their work experience to qualify for hire. We thank all interested applicants ...

goeasy

Risk Analyst (Credit Risk)

Mississauga, ON · On-site

CA$70K - CA$82K/yr

Apply observations to loss forecasting models to capture current trends and communicate to Senior ... validation of their work experience to qualify for hire. We thank all interested applicants ...

MasterCard

Director, Credit Risk Policy

Toronto, ON · On-site

Title and Summary Director, Credit Risk Policy Director, Credit Risk Policy Overview: This role ... role model for risk culture, governance discipline, and ethical decision-making Exercises ...

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Showing results 1-20

All JobsCredit Risk Model Validation JobsCredit Risk Model Validation Jobs in Ontario

Credit Risk Model Validation information

See Ontario salary details

$23K

$110.4K

$199K

How much do credit risk model validation jobs pay per year?

As of Sep 9, 2026, the average yearly pay for credit risk model validation in Ontario is $110,417.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,500.00 and $143,000.00 per year, depending on experience, location, and employer.

What is credit risk model validation?

Credit risk model validation is the process of ensuring that models used to assess the creditworthiness of borrowers are accurate, reliable, and compliant with regulatory standards. This involves independent review and testing of the model's design, data, assumptions, and performance. The goal is to identify any weaknesses or limitations that could affect the model's ability to predict credit risk, reduce financial losses, and maintain regulatory compliance. Model validation is typically performed by specialists who are not involved in the model's development to ensure objectivity.

What are some common challenges faced by professionals in credit risk model validation roles?

Professionals in Credit Risk Model Validation often encounter challenges such as staying up-to-date with evolving regulatory requirements and ensuring models remain compliant. They must also navigate the complexities of validating models that use advanced statistical techniques or machine learning, which requires both technical expertise and a thorough understanding of the underlying business context. Additionally, clear communication with stakeholders—like model developers, auditors, and risk managers—is essential to address findings and recommend improvements effectively. Managing tight deadlines and balancing multiple validation projects simultaneously can also be demanding.

What are the key skills and qualifications needed to thrive in credit risk model validation, and why are they important?

To thrive in Credit Risk Model Validation, you need a strong background in quantitative finance, statistics, and risk management, usually supported by a relevant degree such as in mathematics, finance, or engineering. Familiarity with statistical programming languages (such as Python, R, or SAS), model validation frameworks, and regulatory guidelines like Basel accords is crucial. Attention to detail, critical thinking, and clear communication skills help you effectively analyze models and convey complex findings to stakeholders. These competencies are vital for ensuring accurate risk assessment, regulatory compliance, and the robustness of financial institutions' credit risk models.

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

AspectCredit Risk Model ValidationCredit Risk Analyst
Primary FocusAssessing and validating the accuracy of credit risk modelsAnalyzing credit data to assess borrower risk and support lending decisions
Skills & CertificationsStatistical, quantitative skills; certifications like FRM or CFA often preferredFinancial analysis skills; relevant certifications like CFA or credit-specific training
Work EnvironmentQuantitative teams within risk management or model validation unitsCredit departments, lending teams, or risk management units

While both roles involve credit risk, Credit Risk Model Validation focuses on testing and validating models' accuracy, whereas Credit Risk Analysts evaluate individual creditworthiness to inform lending decisions. The validation role is more technical and model-focused, while analysts work directly with credit data and client assessments.

What are popular job titles related to Credit Risk Model Validation jobs in Ontario?

For Credit Risk Model Validation jobs in Ontario, the most frequently searched job titles are:

What job categories do people searching Credit Risk Model Validation jobs in Ontario look for?

The top searched job categories for Credit Risk Model Validation jobs in Ontario are:

Credit Risk Model Validation jobs near you
Infographic showing various Credit Risk Model Validation job openings in Ontario as of September 2026, with employment types broken down into 1% As Needed, 82% Full Time, 15% Part Time, and 2% Contract. Highlights an 85% Physical, 4% Hybrid, and 11% Remote job distribution, with an average salary of $110,417 per year, or $53.1 per hour.

Manager, Credit Risk Model Validation

Toronto, ON • On-site

BMO Capital Markets
1 - 5K employees
Learn more about BMO Capital Marketsexternal

Full-time

Medical, Life, Retirement

This job post has expired 3 days ago. Applications are no longer accepted.

Key responsibilities

  • Validate credit risk models, including IFRS 9 /CECL/loss forecasting, Stress Testing, and Climate Risk models, to assess their appropriateness and capability.

  • Manage relationships with model developers, owners, and users to communicate model risk assessments and influence model risk-related decisions.

  • Lead the development and enhancement of the model validation framework, methodologies, and strategies, and validate models, assumptions, data, and methodologies independently.

Job description

Application Deadline:

08/30/2026

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

Seekinga skilled and experienced professional to join our Model Risk Management Team as a Manager, Model Risk, Credit Risk.As amanagerin oursecond lineof defenserisk management,governance,and controlfunction, you will play a pivotal role in the validation of credit risk models,such asAllowance (IFRS 9 /CECL/loss forecasting) models,Stress Testing (CCAR/EWST), Climate Riskmodelsand other initiatives.Other activities related to the model lifecycle such as model performance monitoring, annual reviews, assessment of overlay quantification are also part of the validation responsibilities.Experience in other credit risk families, such as credit adjudication and account management models, is also relevant.Thisis anindividual contributorrole.

Note- We welcome applications from Senior Analyst candidates with fewer years of experience, provided they have a strong technical background and experience that is closely aligned with the role

Key RoleResponsibilities:

  • Model Risk Review and Effective Challenge: You perform the validation of models, other estimation approachesand critical tool calculatorsand assess the model risk to confirm model appropriateness and capability for a designated portfolio. Youare responsible forproviding effective challenge to the credit risk models during model development and communicating decisionsregardingmodel use to the business to ensure transparency and understanding of models and model risks. You assess the models' capabilities, stresspointsand limitations; you assess the associated model risk and the controls in place to mitigateidentifiedrisks.
  • Stakeholder Engagement: Effective communication is crucial in this role. You will manage relationships with model developers, owners, and users, influencing and advising on model risk-related matters. Your ability to explain complex technical concepts in everyday language will set you apart.
  • Change Management: BMO is at the forefront of innovation in model risk management. You will be part of the team that drives change by embracingnew technologyplatforms, tools, and operating models.
  • Regulatory Expertise: Acts as a subject matter expert on relevant regulations and policies. May network with industry contacts to gain competitive insights and best practices. Interprets new regulations and assesses impacts to the program / portfolio validation framework.
  • Risk Understanding: You will need to connect the dots between technical issues and business considerations.
  • Serve as a trusted advisor to business partners, influencing stakeholders and supporting strategic planning and decision-making.
  • Lead the development, execution, and enhancement of the model validation framework, methodologies, and validation strategies.
  • Independently validate models, assumptions, data, methodologies, benchmarks, and supporting documentation to assess model effectiveness and compliance.
  • Identify, quantify, document, and escalate model risks, deficiencies, and required corrective actions while monitoring remediation efforts.
  • Research emerging trends, regulatory requirements, and industry best practices to strengthen model risk management and governance.
  • Provide expert consulting and technical guidance on model validation, risk management, and framework implementation.
  • Lead validation-related initiatives, change management activities, process improvements, and operational programs across the portfolio.
  • Represent the model validation function during internal audits, regulatory examinations, and stakeholder reviews.
  • Develop, monitor, and report on model validation portfolio performance, model inventory, attestations, and governance outcomes.
  • Build and maintain strong stakeholder relationships, ensuring alignment, effective communication, and successful delivery of strategic objectives.

Qualifications:

  • A MSc or PhD in quantitative fields such as statistics, applied mathematics, financial mathematics, data science, actuarial sciences, electrical engineering, or related fields.
  • A minimum of4years of experience in modelvalidationand/ordevelopmentwithin a financial institution, particularly in the credit risk area.
  • Certifications: While qualifications like CFA are helpful, they are not mandatory.
  • Experience in credit risk models, including Stress Testing & loss forecasting, AIRB and Adjudication/Account Management.
  • Proficiencyin a programming language such as Python, R, and SAS (Python is preferred).
  • Proficiencyin working with relational databases - SQL or Oracle.
  • Working with Big data tools and Cloud platforms (AWS/Azure) is a plus.
  • A can-do attitude and a research, deep-dive mindset.

Our team values flexibility, collaboration and in-person engagement. This positionis located inToronto and offers flexibility with a hybrid work arrangement, where the successful candidate will spend at least3days per week on-site.

Salary:

$75,900.00 - $141,900.00

Pay Type:

Salaried

The above represents BMO Financial Group's pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.

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