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Credit Risk Model Validation Jobs in Ontario (NOW HIRING)

BMO Capital Markets

Model Risk Specialist

Toronto, ON · On-site

CA$61K - CA$113K/yr

Audit, Risk & Compliance Skills: * Analytical, detail-oriented, well-organized, highly self ... Troubleshoots model validation issues with team members and stakeholders. * Leads or assists with ...

Clutch Technologies Inc.

Senior Manager, Credit & Risk, Consumer Financing Toronto About Clutch We're on a mission to ... Data, models, and experimentation * Build scorecarding approaches, segmentation, and predictive ...

Td

Group Risk Specialist (ATH 5211)

Toronto, ON · On-site

CA$96K - CA$136K/yr

Support the ongoing evaluation and use of predictive models in credit strategies to ensure effective use and application of various available models. Provide a broad range of risk analysis, reporting ...

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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 Aug 7, 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.
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 August 2026, with employment types broken down into 2% As Needed, 81% Full Time, 14% Part Time, 1% Temporary, and 2% Contract. Highlights an 89% Physical, 3% Hybrid, and 8% Remote job distribution, with an average salary of $110,417 per year, or $53.1 per hour.

Associate Director, Credit & Stress Testing ML Engineer

Royal Bank of Canada

Toronto, ON • On-site

Full-time

Re-posted 12 days ago

Job description

Job Description

What is the opportunity?

Reporting to the Director, Credit & Stress Testing Implementation Assurance, the Associate Director, Credit & Stress Testing ML Engineer will apply business and technical knowledge to turn models into production-grade services that will support model development across the Credit Modelling and Methodology Team (CMM).

In this position you will have the opportunity to work across all banking book exposures in full development/deployment cycles of critical provisioning and stress testing programs. You will be responsible for the production lifecycle of the ECL generation process through development of production source code, building and execution of user assurance and post-implementation testing (UAT/PIV), writing implementation documentation, and development of continuous assurance solutions. As part of development and maintenance of production models, you will collaborate with several groups including model developers, business stakeholders, and IT teams.

What will you do?

Develop credit risk model implementations

  • Develop scalable and efficient production implementations of all credit risk models across provisioning (IFRS 9/CECL) and stress testing programs (EWST/MST/CCAR)
  • Engineer and maintain scalable data pipelines and workflows using Python and PySpark
  • Apply and advocate for coding best practices to optimize production system performance, scalability, and reliability
  • Development of scalable testing solutions to increase coverage, including unit testing
  • Build and maintain CI/CD automation (Docker, Kubernetes, OpenShift, GitHub Actions, Airflow)
  • Contribute to code reviews, collaborate with data scientists, credit risk modellers, and IT teams
  • Maintain technical documentation and submit change control UAT/PIV evidence for validation review
  • Use of quantitative methods to diagnose model implementation issues and impacts

Source code review

  • Review of reporting code for provisioning (IFRS9/CECL) and stress testing programs (EWST/MST/CCAR).

What do you need to succeed?

Must Have

  • 5+ years related work experience in developing and/or deploying scalable coding solutions (including distributed systems and performance optimization)
  • Knowledge of credit risk methodology, including capital estimation, credit risk/stress testing models, and/or direct experience with Expected Credit Loss implementations
  • Strong programming experience and providing technical leadership on modern Python and PySpark (or similar)
  • Experience in data manipulation on large datasets
  • Credit Risk & Banking Stress Testing: Understanding of provisioning models and stress testing frameworks
  • Testing & QA: UAT/PIV testing experience in regulated financial environments
  • Experience in code management solutions (e.g. git, GitHub)
  • Strong interpersonal, communication, and presentation skills, with the ability to articulate and document complex technical problems and control process for a non-technical audience
  • Ability to structure workload and manage multiple competing priorities.
  • Conceptual thinker with a curious mind to challenge and question the status quo and the ability to make quantitative decisions on ambiguous and complex techniques which will have an impact directly on RBC's financial statements.

Nice to Have

  • Test automation frameworks and CI/CD pipeline optimization
  • Experience with agile transformation or process improvement
  • AI-assisted development tools (GitHub Copilot, Windsurf, Claude Code)
  • Familiarity with the AWS Sagemaker environment

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 and competitive compensation
  • Leaders who support your development through coaching and managing opportunities
  • Ability to make a difference and lasting impact
  • Flexible work/life balance options
  • Work in a dynamic, collaborative, progressive, and high-performing team
  • Opportunities to do challenging work

Job Skills

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

Additional Job Details

Address:

RBC CENTRE, 155 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:

2026-06-25

Application Deadline:

2026-08-05

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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