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Model Risk Management Jobs in Ontario (NOW HIRING)

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 ...

Td

AVP, Model Risk Governance

Toronto, ON · On-site

CA$155K - CA$215K/yr

Risk Management Pay Details: $155,000 - $215,000 CAD TD is committed to providing fair and ... Oversee the ongoing review of the Model Risk Management Framework, Policy, Procedures, Standards ...

BMO Capital Markets

Model Risk Specialist

Toronto, ON

CA$61K - CA$113K/yr

Assesses model's capabilities, stress points and limitations; assesses the associated model risk ... Develops and maintains in-depth knowledge of business and related risk management requirements and ...

VersaBank

Enterprise Risk Manager

London, ON · On-site

Working knowledge of third-party risk management, model risk, business continuity, and stress testing frameworks. * Certification as a Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA ...

RoseHarbor Publishing

Enterprise Risk Manager

London, ON · On-site

Working knowledge of third-party risk management, model risk, business continuity, and stress testing frameworks. * Certification as a Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA ...

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 JobsModel Risk Management Jobs in Ontario

Model Risk Management information

See Ontario salary details

$24K

$121.1K

$244K

How much do model risk management jobs pay per year?

As of Jun 24, 2026, the average yearly pay for model risk management in Ontario is $121,104.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,500.00 and $151,500.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive in the Model Risk Management position, and why are they important?

To excel in Model Risk Management, a professional needs a strong grounding in quantitative finance, statistics, and risk assessment, often backed by advanced degrees in relevant fields. Familiarity with technical tools such as Python, R, SAS, and model validation platforms, along with relevant certifications like FRM or CFA, is highly beneficial. Exceptional communication skills, attention to detail, and critical thinking help individuals stand out when interacting with model developers and risk committees. Mastery of these abilities ensures thorough risk analysis, regulatory compliance, and effective mitigation of financial model risks within the organization.

What are some common challenges faced by professionals in Model Risk Management roles?

Professionals in Model Risk Management commonly encounter challenges such as evolving regulatory requirements, the complexity of advanced financial models, and ensuring effective communication between technical and non-technical stakeholders. Staying current with industry best practices while rigorously validating and documenting models can be demanding but is critical for reducing financial and operational risks. Team members often work cross-functionally, collaborating closely with quants, risk managers, and IT teams to evaluate model performance and implement improvements. Adapting to new analytical tools and maintaining a proactive approach to emerging risks will help you succeed and grow in this dynamic field.

What is a Model Risk Management job?

A Model Risk Management (MRM) job involves identifying, assessing, and mitigating risks associated with financial and analytical models used by an organization. Professionals in this role ensure models are accurate, reliable, and comply with regulatory requirements by conducting validation, testing, and performance monitoring. They work closely with model developers, risk teams, and auditors to manage model lifecycle processes. Strong quantitative, analytical, and regulatory knowledge are key skills for success in this field.

What is the salary of model risk validation?

Model risk validation professionals typically earn between $80,000 and $150,000 annually, depending on experience, location, and the size of the organization. Senior roles or those with specialized skills in statistical modeling and regulatory knowledge can earn higher salaries, often exceeding $180,000. Certifications such as FRM or CFA can also influence compensation in this field.

Is model risk management a good career?

Model risk management is a specialized field focused on identifying and mitigating risks associated with financial and statistical models. It offers opportunities for growth, requires strong analytical skills, and often involves certifications like FRM or CFA. The role is in demand within financial institutions, regulatory agencies, and consulting firms, making it a stable career choice for those interested in risk analysis and quantitative methods.

What do model risk managers do?

Model risk managers are responsible for identifying, assessing, and mitigating risks associated with financial and operational models used within an organization. They review model assumptions, validate model performance, and ensure compliance with regulatory standards, often using specialized tools and techniques. Their work helps prevent model errors from leading to financial loss or regulatory issues.

What is the highest paying risk management job?

In risk management, senior roles such as Chief Risk Officer (CRO) or Director of Risk typically have the highest salaries, often exceeding six figures annually. These positions require extensive experience, advanced certifications like FRM or CFA, and strong leadership skills, especially in financial institutions or large corporations.
What are popular job titles related to Model Risk Management jobs in Ontario? For Model Risk Management jobs in Ontario, the most frequently searched job titles are:
What job categories do people searching Model Risk Management jobs in Ontario look for? The top searched job categories for Model Risk Management jobs in Ontario are:
Model Risk Management jobs near you
Infographic showing various Model Risk Management job openings in Ontario as of June 2026, with employment types broken down into 81% Full Time, 16% Part Time, 1% Temporary, and 2% Contract. Highlights an 92% Physical, 2% Hybrid, and 6% Remote job distribution, with an average salary of $121,104 per year, or $58.2 per hour.
Manager, Enterprise Model Risk Management

Manager, Enterprise Model Risk Management

Royal Bank of Canada

Toronto, ON

Full-time

Posted yesterday

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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