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Credit Risk Model Validation Jobs in Ontario (NOW HIRING)

BMO Capital Markets

Director, Model Validation

Toronto, ON · Hybrid

CA$121K - CA$211K/yr

Audit, Risk & Compliance Performs validation of models and assesses model risk to confirm model appropriateness and capability for a designated portfolio. Provides effective challenge during model ...

HollisWealth

Credit Risk Officer

Toronto, ON · Hybrid

Credit underwriting and adjudication) and work with the Modeling Director and teams to implement the appropriate risk mitigation. * Serve in an advisory capacity and, in accordance with the ...

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 ...

Qfin

Senior Credit Risk Analyst

Toronto, ON

Document policies, decision logs, and model governance materials. CrossFunctional Partnership * Advise product and engineering on credit risk features and decision engine logic. * Partner with ...

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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 Jun 16, 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 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 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.
Credit Risk Model Validation jobs near you
Manager, Enterprise Model Risk Management

Manager, Enterprise Model Risk Management

Royal Bank of Canada

Toronto, ON • On-site

Full-time

This job post has expired today. Applications are no longer accepted.

Job description

Job Description

What is the opportunity?
As part of the Enterprise Model Risk Management (EMRM) team within Group Risk Management (GRM), the Associate Director will be primarily responsible for carrying out independent validation of models withing the Market and Counterparty Credit Risk model categories as well as the Wealth Management business.

What will you do?

  • Engage relevant model developer/owners and users across market risk, counterparty credit risk and/or wealth management model categories as necessary to acquire and maintain a thorough understanding of the flow and context of model usage by the business.
  • Perform independent validation, delivering effective challenge to understand all key sources of model uncertainty and ensure that model usage adheres to RBC model risk policy.
  • Deliver clear, well written validation reports with sound conclusions based on assessment and testing outcomes.
  • Complete projects within stated timelines to assist the business to use models in a timely and safe way.
  • Ensure clients and colleagues are treated with respect, a highly professional empathetic approach is used, and good working relationships are maintained. Look for, and act upon, opportunities to strengthen the quality of challenge, efficiency and communication of key model risk processes and deliverables.
  • Partner with stakeholders to achieve collective results. Act as a catalyst to ensure team is strategically aligned with business strategies while maintaining the Bank's desired risk profile.
  • Support direct managers and contribute directly to process improvement projects aimed at maximizing quality and efficiency of the model risk management process
  • Provide support for more junior members of the team to enable them to perform validation activities

What do you need to succeed?

Must-have:

  • 5+ years of model risk management or model developer experience with a preferred focus on Market and Counterparty Credit Risk, or Asset Management models.
  • Strong analytical, communication, problem solving and stakeholder management skills.
  • Undergraduate and post graduate degrees in a quantitative subject (eg physics, mathematics, engineering, economics etc).

Nice-to-have:

  • In-depth knowledge of model risk regulations, RBC policies, procedures & practices.
  • Proficiency with Bank Technology and/or more general programming languages.
  • Experience in wealth/asset management modelling.

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 for growth, and opportunities to redefine audit approaches.

Job Skills

Client Counseling, Competitive Markets, Critical Thinking, Financial Instruments, Financial Regulation, Investment Risk Management, Long Term Planning, Quantitative Methods, Risk Management

Additional Job Details

Address:

180 WELLINGTON ST W: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:

2026-06-11

Application Deadline:

2026-07-17

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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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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