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Model Risk Management Jobs in Ontario (NOW HIRING)

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 ...

BMO Capital Markets

Director, Model Validation

Toronto, ON · Hybrid

CA$121K - CA$211K/yr

... management to ensure transparency and understanding of models and model risks. Assesses model's capabilities, stress points and limitations; assesses the associated model risk and the controls in ...

BMO Capital Markets

Director, Model Validation

Toronto, ON · Hybrid

CA$121K - CA$211K/yr

... management to ensure transparency and understanding of models and model risks. Assesses model's capabilities, stress points and limitations; assesses the associated model risk and the controls in ...

Sysco

Senior Analyst - Cybersecurity (Risk Management & Compliance) Location: Krakow, Poland (Hybrid ... Hybrid work model with our Krakow office as the primary location.

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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, Credit Risk Strategy Oversight

BMO Capital Markets

Toronto, ON

CA$69K - CA$129K/yr

Full-time

Medical, Life, Retirement

Posted 17 days ago

Job description

Application Deadline:

07/16/2026

Address:

33 Dundas Street West

Job Family Group:

Audit, Risk & Compliance

Join a purposedriven team at the center of BMO's risk management ecosystem. As a Manager, Credit Risk Strategy Oversight, you will provide specialized analytics, structured challenge, and riskfocused insight across Canadian Retail lending business. Operating in the second line, you will apply sound judgment within established frameworks to identify, diagnose, and address complex, nonroutine issues strengthening decision quality, transparency, and alignment to risk appetite, regulatory expectations, and governance standards. While your primary focus is on business/group priorities, you will have opportunities to contribute to broader enterprise initiatives as experience grows.

Key Responsibilities

Independent Risk Oversight & Effective Challenge

  • Provide independent, evidencebased challenge on credit proposals, strategy changes, segmentation approaches, MLenabled decisioning, and underwriting policies to ensure alignment with risk appetite and regulatory expectations.
  • Assess conceptual soundness, key assumptions, data integrity, and directional risk impacts across origination, account management, and collections strategies; escalate issues with concise, actionable recommendations.
  • Monitor portfolio performance, earlywarning indicators, and emerging risks; contribute to secondline reporting and leadership briefings with clear, datadriven insights.

Portfolio Risk Insight, Stress Testing & Strategic Advisory

  • Conduct advanced analytics, trend and concentration reviews, and earlywarning indicator assessments to identify forwardlooking vulnerabilities and loss pressures.
  • Develop wellsupported recommendations that enhance portfolio quality, strengthen riskreturn outcomes, and improve endtoend credit decisioning.
  • Present analytical findings to first and secondline stakeholders in a clear, structured, and decisionready manner.
  • Execute components of regulatory capital and stresstesting analysis, with an emphasis on PCL, expected loss dynamics, and sensitivity to macroeconomic scenarios.

CrossFunctional Influence & Collaboration

  • Provide analytical and consultative support to partners in Credit, Finance, Product, Legal, Operations, Data & Analytics, and Modeling, embedding risk considerations early in design.
  • Translate complex analyses into clear narratives and visuals tailored to executives and governance forums.
  • Ensure strategic initiatives align with governance expectations including business casing, risk stewardship, data quality, and model governance considerations.

Credit Governance, Policy & Framework Stewardship

  • Maintain and enhance credit risk governance artifacts (roles, authorities, controls) in alignment with enterprise risk and model risk management standards.
  • Support adherence to credit policies, standards, and Regulatory Compliance Management (RCM) requirements; partner with Compliance on control design, monitoring, and issue remediation.
  • Manage documentation lifecycles for credit proposals, policy updates, decision memos, and secondline oversight deliverables.

Judgment, Independence & Continuous Improvement

  • Work independently on nonroutine issues applying strong judgment while operating within established frameworks and governance boundaries.
  • Mentor analysts and associates to strengthen analytical rigor, credit judgment, and effectivechallenge capabilities.
  • Identify and implement improvements to oversight processes, risk reporting, and governance practices as trends and expectations evolve.
  • Take on broader responsibilities or contributions to enterprise initiatives based on business needs and developmental trajectory.

Qualifications

  • Typically 5-7 years in risk analytics, portfolio management, credit strategy, or related analytical roles within a financial institution.
  • Postsecondary degree in Finance, Economics, Statistics, Mathematics, Engineering, or a related field or an equivalent combination of education and experience.
  • Strong applied experience with analytical tools such as Python, SQL, SAS, or R; ability to translate complex analysis into clear, concise insights for senior audiences.
  • Solid understanding of credit risk principles, portfolio analytics, governance expectations, and regulatory concepts gained through handson experience.

What We Offer

  • A highimpact secondline role with visibility across priority businesses and exposure to enterprise initiatives.
  • Opportunities to materially enhance credit oversight, strengthen decision quality, and reinforce portfolio resilience.
  • A culture that values integrity, inclusion, innovation, and high performance.
  • Access to senior leaders, crossfunctional partners, and complex oversight challenges that support ongoing career development.

Salary:

$69,000.00 - $129,000.00

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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