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Model Risk Management Jobs in Ontario (NOW HIRING)

Alterna Savings

Senior Risk Analyst

Toronto, ON · On-site

Model Risk Management * Maintains a strong understanding of Alterna's business model and structure * Builds strong relationships and trust while providing risk guidance, advisory support, and ...

Deloitte

Director, Risk Management

Toronto, ON · Hybrid

CA$140K - CA$260K/yr

Permanent Work Model: Hybrid Reference code: 134562 Primary Location: Toronto, ON All Available ... You will also oversee a variety of service line risk management activities, including regulatory ...

CIBC

Senior Consultant, AI Risk Management

Toronto, ON · Hybrid

You understand predictive modeling, NLP, computer vision, generative AI, and Agentic AI, and you've ... party risk management to safeguard clients and the bank, while supporting positive outcomes for ...

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Showing results 21-40

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 Sep 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 is a model risk management?

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 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 are the key skills and qualifications needed to thrive in model risk management, 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 does a model risk management do?

A model risk management professional oversees the identification, assessment, and mitigation of risks associated with financial and operational models. They ensure models are accurate, reliable, and compliant with regulations, often using validation tools and statistical analysis. This role helps prevent financial loss and supports decision-making processes within organizations.

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 September 2026, with employment types broken down into 1% As Needed, 66% Full Time, 21% Part Time, and 12% Contract. Highlights an 82% Physical, 2% Hybrid, and 16% Remote job distribution, with an average salary of $121,104 per year, or $58.2 per hour.

Senior Manager, Model Development

Toronto, ON • Hybrid

EQ Bank | Canada's Challenger Bank
See more jobs at EQ Bank | Canada's Challenger Bankexternal

Full-time

Medical, Dental, Vision, Life, PTO

Posted 11 days ago

Job description

Join a Challenger
At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions. 
We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.
What's kept us moving?  The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.
If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity. 
We can't wait to get to know you! 


The Work
 

The Senior Manager, Risk Analytics, Models & Insights is a senior individual contributor responsible for the development, enhancement, implementation, monitoring, and governance of enterprise credit risk models and analytics solutions. The incumbent will support the development and maintenance of AIRB and IFRS 9 models, deliver risk insights to senior management, and ensure compliance with internal governance and regulatory requirements.

The incumbent will lead complex analytical initiatives, drive methodological enhancements, support regulatory and audit activities, and champion the adoption of advanced analytics, automation, and Artificial Intelligence (AI) to improve efficiency, insight generation, and risk management practices across the Bank.

Core Responsibilities
  • Develop, enhance, and monitor credit risk models and analytical solutions supporting AIRB, IFRS 9, ICAAP, stress testing, climate risk, and portfolio risk management activities.
  • Perform quantitative analysis, model calibration, validation support, annual reviews, performance monitoring, and risk assessments to support business and regulatory requirements.
  • Collaborate with Risk, Finance, Data, Technology, Audit, and Model Risk Management stakeholders to deliver high-quality analytical solutions and insights.
  • Contribute to the development of a robust data infrastructure for model development and analytics.
  • Regularly review data used in model development for required changes/improvements.
  • Work with IT and business unit teams to implement and execute models and analyses in support of on-going financial disclosure, regulatory reporting, and ad hoc analyses.
  • Prepare model documentation, technical reports, and supporting materials for management, validation, audit, and regulatory reviews.
  • Leverage Artificial Intelligence, machine learning, and automation technologies to improve model development, risk monitoring, reporting, operational efficiency, and decision-making processes.
  • Ensure model development and analytical activities comply with internal policies, governance standards, and regulatory requirements.
Let's Talk About You
  • Master's degree or higher in Statistics, Mathematics, Economics, Finance, Engineering, Data Science, Computer Science, or a related quantitative field.
  • 2+ years of experience in credit risk model development, model validation, quantitative analytics, or related areas within financial services.
  • Strong knowledge of AIRB, IFRS 9, stress testing, ICAAP, or similar risk management frameworks.
  • Advanced programming skills in Python and SQL.
  • Experience with statistical modeling, machine learning, and data science techniques.
  • Familiarity with Generative AI, AI-assisted analytics, or process automation technologies is strongly preferred.
  • Strong technical documentation, presentation, and communication skills.
  • Ability to independently manage complex analytical initiatives and deliver high-quality results with minimal supervision.
What we offer [For full-time permanent roles]
 
Competitive discretionary bonus 
Market leading RRSP match program
  Medical, dental, vision, life, and disability benefits
  Employee Share Purchase Plan
Maternity/Parental top-up while you care for your little one
Generous vacation policy and personal days 
  Virtual events to connect with your fellow colleagues
  Professional development and comprehensive Career Development program
  A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
 
The incumbent will be working hybrid and in office time will be spent working from EQ Bank's additional office space located at 2200-25 Ontario Street, Toronto, ON.


Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger - and our people thrive - when we honour and celebrate diverse experiences, identities, and perspectives. We're equally committed to supporting your growth, both professionally and personally.

We provide a barrierfree recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration. 
To learn more, visit eqb.investorroom.com and eqbank.ca.

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.
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