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Credit Risk Model Validation Jobs in Ontario (NOW HIRING)

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Credit Risk Model Validation information

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$23K

$110.4K

$199K

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

As of Sep 10, 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.

Associate Director - Counterparty Credit Risk

Toronto, ON

Royal Bank of Canada
Banking and Credit Intermediation • 10K+ employees
Learn more about Royal Bank of Canadaexternal

Full-time

Re-posted 25 days ago

Job description

Job Description

What is the opportunity?

As Associate Director (AD) in the Counterparty Credit Risk Analysis and Measurement team, you are responsible for a wide range of things from running derivative credit sizing to deep dives into the risk profile of specific counterparties of concern. You will support as required sizing and risk analysis for bespoke transactions, ad hoc requests, and non-standard trading.

As Associate Director, you are responsible for streamlining and automating the team's oversight processes. You will lead development, coding efforts, and coordinate required work to properly measure exposures for new and existing product categories.

What will you do?

  • Conduct credit sizings and ad-hoc credit event analysis
  • Pro-actively investigate risks, perform derivative credit sizings and counterparty deep dives to provide clear and comprehensive analysis to senior management on risk trends and concerns
  • Analyze key trading strategies and products to ensure they are in line with risk tolerance and objectives
  • Review significant transactions to help facilitate businesses while ensuring proper risk controls
  • Work with GRM Credit team to help review the credit risk appetite and help facilitate business activities while ensuring proper risk controls
  • Investigate issues in the counterparty credit risk capturing and reporting processes and ensure the accuracy of results (check data quality, accuracy and completeness; identify errors in risk reporting and identify systemic issues to Risk IT for solution and prioritization; ensure issue log to accurately describe any errors or issues with the exposures within the report distribution)
  • Develop and code tools to automate and standardize risk measures into official credit risk engines and credit risk monitoring systems
  • Assess New Business Initiatives from Counterparty Risk Perspective and participate in the Specific and general wrong-way-risk analysis
  • Liaise with GRM Enterprise Risk and Group Risk Analytics Teams to ensure risk models are calibrated are vetted appropriately

What do you need to succeed?

Must-have

  • 3+ years of experience at a financial institution in a quantitative Risk Control function such as market or credit risk, with an understanding of capital markets trading products and related credit risk concepts.
  • Master's degree in a relevant subject such as Finance, Economics, or other quantitative discipline.
  • Strong analytical and problem-solving skills.
  • Solid verbal and written communication skills.
  • Proven organizational skills, with the ability to meet strict deadlines.

Nice-to-have

  • FRM, PRMIA, or CFA
  • Good command and hands on experience with Excel, Python, VBA programming, SQL or equivalent programming languages

  • Hands-on experience developing and implementing agentic AI solutions and evaluating agent performance to solve business-critical problems

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

  • A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation

  • Leaders who support your development through coaching and managing opportunities

  • Work in a dynamic, collaborative, progressive, and high-performing team

  • Opportunities to do challenging work

  • Flexible work/life balance options

Job Skills

Business Data Analysis, Credit Analysis, Critical Thinking, Database Queries, Data Visualization, Decision Making, Operational Delivery, Quantitative Methods, Risk Management

Additional Job Details

Address:

ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-06-15

Application Deadline:

2026-09-14

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.

RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.

Employment Type: FULL_TIME

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