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Director Model Risk Management Jobs in Toronto, ON

Scotiabank

Manager

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 ...

Torys LLP

Assistant, Risk Management

Toronto, ON · Hybrid

CA$62K - CA$80K/yr

The Assistant, Risk Management is responsible for managing access requests for the firm ... This position is part of our hybrid work model with 3 days in the office per week. As part of our ...

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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

Senior Manager, Credit Risk Strategy Oversight

BMO Capital Markets

Toronto, ON • On-site

Full-time

Medical, Life, Retirement

Re-posted 6 days ago

Job description

Application Deadline:

08/02/2026

Address:

33 Dundas Street West

Job Family Group:

Audit, Risk & Compliance

Join a purposedriven team at the core of BMO's risk management ecosystem. As the Senior Manager, Credit Risk Strategy Oversight, you will provide independent, forwardlooking challenge on credit strategies, policies, and portfolio decisions across BMO's Canadian Retail lending business. In this highimpact second line role, you will strengthen the bank's risk discipline through clear, datadriven oversight, ensuring alignment with risk appetite, regulatory expectations, and enterprise governance. You will influence strategic credit outcomes, elevate decision quality, and help embed sound credit practices across the lifecycle. This role provides meaningful opportunities to strengthen portfolio resilience and support BMO's commitment to Boldly Grow the Good.

Key Responsibilities

Independent Risk Oversight & Effective Challenge

  • Provide objective, evidencebased challenge on credit proposals, strategy changes, segmentation approaches, MLenabled decisioning, and underwriting standards to ensure alignment with risk appetite and regulatory expectations.
  • Assess conceptual soundness, core assumptions, data quality, and directional risk impacts across origination, account management, and collections strategies.
  • Monitor portfolio performance, earlywarning indicators, and emerging risks; escalate material issues with clear, actionable recommendations.
  • Identify deviations from expected outcomes and support timely adjustments to strategies, controls, and processes.

Portfolio Risk Insight & Analytics

  • Partner with business teams to review and validate business cases, ensuring assumptions are robust, risk and financial impacts are well quantified, and proposals comply with enterprise standards and governance requirements.
  • Conduct deepdive portfolio analytics including trend, segmentation, and concentration analyses to identify emerging vulnerabilities and forwardlooking loss drivers.
  • Lead analytical assessments that support regulatory capital and stresstesting activities, with a focus on PCL, capital (KRM), and scenario impacts on expected losses.
  • Deliver datadriven insights to strengthen portfolio quality, enhance riskadjusted returns, and improve decision effectiveness across the credit lifecycle.
  • Represent the second line in select crossfunctional governance forums and regulatory interactions, clearly articulating risk, loss, and stressrelated insights.

Credit Governance, Policy & Framework Stewardship

  • Support enhancements to credit risk governance frameworks, including authorities, controls, and alignment with enterprise and model risk standards.
  • Oversee adherence to creditrelated policies, standards, and regulatory requirements; partner closely with Compliance on the Regulatory Compliance Management (RCM) program.
  • Manage governance documentation across its lifecycle, including credit proposals, policy updates, decision memos, modelrelated oversight materials, and second line reporting.

CrossFunctional Influence & Collaboration

  • Build strong partnerships with credit, finance, product, legal, operations, data/analytics, and modeling teams to embed risk considerations early in design.
  • Influence senior stakeholders through concise, insightrich analysis that enhances transparency and elevates decision quality.
  • Ensure alignment of business initiatives with enterprise expectations, including business casing, risk management, model governance, and data governance requirements.

Leadership & Culture Building

  • Mentor and develop analysts and associates to strengthen analytical rigor, credit judgment, and effective challenge capabilities.
  • Foster a culture grounded in integrity, transparency, and continuous improvement.
  • Operate as a specialist resource and trusted advisor to senior leaders and key stakeholders across the organization.
  • Apply strong analytical skills and creative problemsolving to navigate complex or ambiguous situations.
  • Stay current on emerging trends, evolving risks, and regulatory developments; recommend adjustments to ensure oversight practices remain effective.
  • Take on broader work or enterprisewide deliverables as required.

Qualifications

  • Typically 7+ years of progressive experience in credit risk management, policy, strategy, or governance preferably within retail lending or OSFIregulated environments.
  • Graduate degree in a quantitative discipline (Statistics, Mathematics, Actuarial Science, Engineering, Finance, Economics, or related field).
  • Strong understanding of credit risk frameworks, risk appetite, secondline responsibilities, regulatory expectations, and stress testing/regulatory capital concepts.
  • Demonstrated ability to provide objective, wellreasoned, analytically grounded challenge.
  • Strong understanding of credit lifecycle economics, ROE drivers, and riskreturn optimization principles.
  • Advanced skills in Python, SQL, SAS, R, or comparable analytical tools; ability to translate complex analysis for senior audiences.
  • Strong communication, influencing, and stakeholder management skills; able to operate autonomously in a fastpaced environment.

What We Offer

  • A strategic secondline leadership role with visibility across the enterprise.
  • Opportunities to materially strengthen credit oversight, decision quality, and portfolio resilience.
  • A culture grounded in integrity, innovation, inclusion, and performance.
  • Access to senior leadership, crossfunctional partners, and complex analytical challenges that support ongoing career development.
  • Flexibility, autonomy, and support to build a longterm career at one of North America's most respected financial institutions.

Salary:

$86,000.00 - $160,000.00

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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