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Model Risk Management Jobs in Ontario (NOW HIRING)

Scotiabank

Director Risk Run and Analytics

Toronto, ON · On-site

... Model Risk, Quants, Infrastructure, and Engineering teams to strengthen the platform and reduce operational risk. * Ensure the platform can support evolving business, regulatory, and risk management ...

BMO Capital Markets

AI Risk Analyst

Toronto, ON · On-site

Exposure to AI governance, model governance, data governance, or technology risk management frameworks. * Program management or governance coordination experience. Salary : $61,600.00 - $113,900.00 ...

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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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 Director, Investment Risk Management

Toronto, ON • On-site

Ci
See more jobs at Ciexternal

Full-time

PTO

Re-posted yesterday

Job description

At CI, we see a great place to work as one that is a safe place for everyone to have a voice, where people are empowered to take ownership over meaningful work, where there is an opportunity to grow through stretching themselves, where they can work on innovative products and projects, and where employees are supported and engaged in doing so.

We are seeking an experienced and analytical Senior Director, Investment Risk Management to join our team at CI Global Asset Management. Reporting directly to the President and Chief Investment Officer (CIO), the Senior Director, Investment Risk Management will be responsible for ensuring effective risk management across various investment strategies. This role will also provide critical risk analysis and insights to the firm's Enterprise Risk Management (ERM), Compliance and Internal Audit functions, supporting a comprehensive and integrated risk management framework.

WHAT YOU WILL DO

  • Risk Modeling & Analysis: Deploy CIGAM's existing risk models to assess and quantify risks across a range of investment strategies, including equity, fixed income, alternatives, and multi-asset portfolios. Utilize advanced techniques such as factor decomposition, Value at Risk (VaR), stress testing, and scenario analysis.
  • Investment Strategy Risk Assessment: Analyze and assess the risk profiles of existing and new investment strategies, ensuring they align with the firm's risk appetite and objectives. Provide actionable insights to the portfolio managers and the CIO.
  • Risk Monitoring: Continuously monitor key risk metrics and factor exposures, ensuring all investment strategies remain within predefined risk limits. Proactively identify and assess emerging risks.
  • Reporting: Prepare and deliver detailed risk reports to the CIO, senior management, and investment committees. Summarize key risk exposures, vulnerabilities, and recommend actions for risk mitigation.
  • Enterprise Risk Management (ERM) & Internal Audit Support: Collaborate with the ERM and Internal Audit teams to ensure that investment risk management aligns with the firm's overall risk framework. Provide detailed analysis and reporting to support the firm's enterprise-wide risk assessments and internal audit functions.
  • Collaboration: Work closely with portfolio managers, the strategy team, and other key stakeholders to incorporate risk perspectives into investment decision-making and strategy execution.
  • Risk Mitigation: Propose and implement strategies to manage and mitigate risks related to market, credit, liquidity, and operational factors, while optimizing each strategy's risk-return profile.
  • Regulatory Compliance: Ensure that all risk management activities are compliant with relevant regulatory requirements and internal policies.
  • Scenario and Stress Testing: Conduct regular scenario and stress testing on investment strategies to assess the impact of adverse market conditions and extreme events.

WHAT YOU WILL BRING

  • Graduate degree in a quantitative discipline such as Finance, Economics, Mathematics, Statistics, or a related field.
  • Minimum 10 years of experience in investment risk management (ideally within the asset management or pension fund industry), with a focus on risk modeling, analysis, and monitoring for investment strategies.
  • Proven expertise in risk management frameworks such as VaR, stress testing, scenario analysis, and sensitivity analysis.
  • Strong understanding of investment strategies including equities, fixed income, alternatives, and multi-asset portfolios.
  • Excellent quantitative and analytical skills, with the ability to translate complex risk data into actionable insights for both technical and non-technical audiences.
  • Exceptional communication and reporting skills, with the ability to present findings to senior management, investment committees, and the CIO.
  • Ability to collaborate effectively across teams, including portfolio management, ERM, and Internal Audit functions.
  • This role follows our in office work model and requires employees to be onsite four days per week to support collaboration and business needs.

CI Financial is an independent company offering global wealth management and asset management advisory services through diverse financial services firms. Since 1965, we have consistently anticipated and responded to the changing needs of investors. We are driven by a commitment to provide individuals and institutions with the highest-quality investments and advice. Our commitment to the highest levels of performance means that whatever their position, CI employees must be comfortable in a fast-paced environment that will stretch them to tap into their highest potential. Employees with a healthy dose of ambition, a desire to commit to a curious mindset for continuous learning, and a willingness to go the extra mile thrive at CI.

A Supportive Environment for Success

We offer an in-office environment, competitive benefits, and a supportive workplace to help our employees thrive both personally and professionally.

WHAT WE OFFER

  • Modern HQ location within walking distance from Union Station
  • Training Reimbursement
  • Paid Professional Designations
  • Employee Savings Plan (ESP)
  • Corporate Discount Program
  • Enhanced group benefits
  • Parental Leave Top-up program
  • Paid time off for Volunteering

We are focused on building a diverse and inclusive workforce. If you are excited about this role and are not confident you meet all the qualification requirements, we encourage you to apply to investigate the opportunity further.

Please submit your resume in confidence by clicking "Apply". Only qualified candidates selected for an interview will be contacted. CI Financial Corp. and all of our affiliates ("CI") are committed to fair and accessible employment practices and provide reasonable accommodations for persons with disabilities. If you require accommodations in order to apply for any job opportunities, require this posting in an additional format, or require accommodation at any stage of the recruitment process please contact us ataccessible.recruitment@ci.com, or call 416-364-1145 ext. 4747.

Apply