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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 ...

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 ...

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 ...

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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 Jul 14, 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 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
Manager, Enterprise Model Risk Management

Manager, Enterprise Model Risk Management

Royal Bank of Canada

Toronto, ON

Full-time

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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