Work Location:Toronto, Ontario, Canada
Hours:37.5
Line of Business:Analytics, Insights, & Artificial Intelligence
Pay Details:96,900 - 136,800 CAD
Job Description:Role OverviewThe Model Development (MD) team within Risk Management is responsible for developing, enhancing, and implementing credit risk methodologies across wholesale and commercial portfolios. This role focuses on non-retail credit risk, covering IFRS 9 allowance, stress testing (e.g., EWST), and regulatory capital models.
The successful candidate will lead the development of robust, forward-looking credit risk models and drive innovation in modeling approaches to address the unique characteristics and limitations of non-retail portfolios.
Key Responsibilities- Design, develop, and enhance statistical and quantitative models for non-retail credit loss forecasting (PD, LGD, EAD), IFRS 9 allowance, and stress testing frameworks.
- Advance methodologies to address non-retail modeling challenges, including data sparsity, low default portfolios, name concentration risk, expert judgment overlays, and portfolio heterogeneity.
- Build scalable tools and analytical solutions to support model development, testing, and implementation.
- Continuously improve model performance through rigorous validation, monitoring, and incorporation of emerging risk drivers.
- Ensure models meet internal Model Risk Management standards, regulatory expectations, and data governance requirements.
- Partner with stakeholders across Risk, Finance, Model Validation, and Technology to support model development, review, and implementation.
- Communicate insights, model assumptions, and limitations clearly to senior management and regulators.
Qualifications & Skills- Graduate degree in quantitative discipline (e.g., Financial Mathematics, Statistics, Economics).
- Solid experience in credit risk modeling with exposure to wholesale/non-retail portfolios.
- Strong understanding of IFRS 9, stress testing, and regulatory capital frameworks (e.g., Basel).
- Proficiency in Python or equivalent programming languages for data analysis and model development.
- Strong analytical and problem-solving skills with ability to work with complex, imperfect datasets.
- Excellent written and verbal communication skills, with ability to engage senior stakeholders.
Differentiating Capabilities (Highly Valued)- Demonstrated ownership mindset and bias for action, with a track record of proactively identifying gaps and independently driving end-to-end solutions in complex, ambiguous environments.
- Strong focus on AI-driven innovation in credit risk modeling, including evaluating and applying machine learning, generative AI, and advanced analytics techniques in a controlled, regulator-friendly manner.
- Experience leveraging AI-enabled tools (e.g., Copilot, code assistants, automation frameworks) to accelerate model development, enhance productivity, and streamline documentation and testing workflows.
- Ability to research, assess, and operationalize emerging AI capabilities, including identifying where these approaches are applicable in non-retail portfolios (e.g., feature engineering, segmentation, scenario modeling), while thoughtfully managing model risk and explainability constraints.
- Proven ability to challenge legacy methodologies and introduce innovative, scalable solutions that balance sophistication, interpretability, and regulatory expectations in low-default, data-constrained environments.
- Experience in leading quant teams
Our Total Rewards PackageOur Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more
Additional Information:We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.
Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.
Colleague Development If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.
If you're passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.
We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.
Training & OnboardingWe will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.
Interview Process We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.
Accommodation Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.
We look forward to hearing from you!
Language Requirement (Quebec only):Sans Objet
