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Director Model Risk Management Jobs in Toronto, ON

Vancity

Senior Consultant, Model Validation

Toronto, ON · Hybrid

CA$96K - CA$125K/yr

This is a Full time, Permanent role based at our Vancity head office and will report directly to the Director, Model Risk Management . Our head office is based in Vancouver, with a hybrid working ...

MUFG

Model Risk Management Analyst, AVP

Toronto, ON · On-site

Model Risk Management: * Developing, maintaining, and implementing the Bank's Model Risk Management Program covering Wholesale Credit risk models which are used for supporting risk scoring, decision ...

Deloitte

Director, Risk Management

Toronto, ON · Hybrid

CA$140K - CA$260K/yr

Permanent Work Model: Hybrid Reference code: 133220 Primary Location: Toronto, ON All Available ... As a member of the leadership team you will spend your time helping manage the risk for the service ...

PwC

Credit Risk Modelling Senior Associate

Toronto, ON · Hybrid

CA$73K - CA$122K/yr

As part of the team, you'll help with credit risk modeling, model risk management as well as AI/ML/GenAI modeling for financial institutions. Meaningful workyou'llbe part of As a Credit Risk ...

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All JobsModel Risk Management JobsDirector Model Risk Management JobsDirector Model Risk Management Jobs in Toronto, ON

Director Model Risk Management information

What is the highest paying risk management job?

The highest paying risk management roles are often executive-level positions such as Chief Risk Officer (CRO) or Director of Model Risk Management, with salaries exceeding $200,000 annually. These roles require extensive experience, advanced certifications, and strong leadership skills, and they typically oversee enterprise-wide risk strategies and compliance efforts.

What does a director of risk management do?

A director of risk management oversees an organization's strategies to identify, assess, and mitigate financial, operational, and compliance risks. They develop policies, lead risk assessment teams, and ensure risk management practices align with regulatory requirements, often using tools like risk management software. Strong leadership, analytical skills, and industry certifications are typically required for this role.

What does a director of risk management make?

A director of risk management typically earns a salary ranging from $120,000 to $200,000 annually, depending on the industry, location, and experience. They often oversee risk assessment teams, develop risk mitigation strategies, and may hold certifications such as FRM or CRM. Compensation can also include bonuses and benefits aligned with organizational size and complexity.

What is the difference between Director Model Risk Management vs Model Validation Manager?

AspectDirector Model Risk ManagementModel Validation Manager
CredentialsAdvanced degrees (e.g., Master’s, PhD), certifications like FRM or CFASimilar credentials, often with FRM or CFA
Work EnvironmentStrategic oversight, cross-department collaboration, senior leadershipTechnical validation, model testing, detailed analysis
Industry UsageUsed in banking, finance, risk management departmentsCommon in model development and validation teams
Search/Comparison IntentUnderstanding leadership roles in risk managementFocus on technical validation and model testing

The main difference is that the Director Model Risk Management oversees the entire model risk framework, providing strategic guidance and leadership, while the Model Validation Manager focuses on technical validation and testing of models. Both roles require similar credentials and are integral to risk management in financial institutions, but they differ in scope and responsibilities.

Is model risk management a good career?

Model risk management is a specialized field within financial and banking industries that involves identifying, assessing, and mitigating risks associated with mathematical and statistical models. It offers opportunities for growth, requires strong analytical skills, and often involves certifications like FRM or CFA. The role is considered stable and in demand due to increasing regulatory requirements and reliance on complex models.
Director Model Risk Management jobs near you
Manager, Enterprise Model Risk Management

Manager, Enterprise Model Risk Management

Royal Bank of Canada

Toronto, ON

Full-time

Re-posted 22 days ago

Job description

Job Description

What is the opportunity?

Join RBC's Enterprise Model Risk Management (EMRM) team and play a critical role in safeguarding the bank against regulatory, financial, and reputational risks. As a Manager, you'll ensure the integrity and efficacy of quantitative models across the organization, preventing potential losses while maintaining compliance with RBC's stringent risk management standards. This is an ideal opportunity for a quantitative professional with a physics, engineering, or mathematical background to apply advanced analytical skills to model validation, risk assessment, and oversight in a dynamic financial environment.

What will you do?

  • Validate complex quantitative models including regression, front office pricing, market and counterparty credit risk, and credit risk models
  • Engage with stakeholders across risk, finance, and front office functions to identify, assess, monitor, and manage model risk proactively
  • Ensure models are appropriately registered, risk-rated, validated, and compliant with RBC model risk policy
  • Oversee model governance including protocol adherence for adjustments, changes to inputs/outputs, and documentation
  • Provide input on model design and use to enhance risk management effectiveness while maintaining independence of oversight
  • Collaborate with cross-functional teams to develop and refine enterprise risk management frameworks

What do you need to succeed?

Must have:

  • Master's degree in a quantitative discipline (mathematics, physics, engineering, econometrics, statistics, or financial engineering)
  • 1+ years' working experience as a quantitative analyst or in mathematical/statistical modeling
  • Proficiency with programming languages (Python, C++, C#, VBA) or statistical tools (SAS, MATLAB, R)
  • Strong quantitative knowledge of financial products and regulatory requirements for model risk management
  • Excellent verbal and written communication skills with a collaborative, interpersonal approach

Nice-to-have:

  • Knowledge of regulatory requirements for financial institutions
  • Familiarity with enterprise risk management frameworks

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
  • Leaders who support your development through coaching and managing opportunities
  • Ability to make a difference and lasting impact
  • Work in an agile, collaborative, progressive, and high-performing team
  • The opportunity to interface with senior level executives from many different parts of the organization

Job Skills

Computer Programming, Credit Risks, Critical Thinking, Financial Instrument Valuation, Machine Learning (ML), Market Risk, Mathematical Finance, Model Risk, Risk Management, Writing

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:

2026-07-20

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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