Manager, Credit Risk Models - Financial Engineering & Modeling

8/11/26

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Job Type: Permanent Work Model: Hybrid Reference code: 132112 Primary Location: Toronto, ON All Available Locations: Toronto, ON

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What will your typical day look like?

In this role, you will help our financial services industry (FSI) clients make high-stakes credit risk decisions with informed confidence. Much of your work will focus on validating credit risk models, in addition to model development, benchmarking, and ad-hoc analytical projects. This means that you may challenge the design and assumptions underlying an IFRS 9, AIRB, or CCAR model, investigate how an adjudication or behavioral scorecard model performs under stress, develop a benchmark model using Python or R by leveraging statistics, machine learning and artificial intelligence, or translate complex analyses into clear recommendations for senior stakeholders. Managers are expected to take leadership roles in project development and delivery, providing direction and oversight to junior colleagues, reviewing and guiding analytical work, and communicating findings to clients. They must be able to articulate and defend key conclusions while helping stakeholders understand the implications of results for model risk management, regulatory compliance, and strategic business decisions.

This position will appeal to experienced candidates looking for technical depth and variety. You will be involved with multiple portfolios, modelling approaches, financial institutions, and regulatory frameworks. You will use your judgement to identify model limitations, explain their implications, and recommend ways forward. For candidates with backgrounds in banking, consulting, model development, or model validation, this is an opportunity to broaden your exposure while continuing to enhance your deep credit risk expertise. You may also collaborate with team members working in our parallel streams within the Financial Engineering & Modeling group, including market risk, internal audit, machine learning and artificial intelligence, financial crimes, treasury, and others

About the team

Deloitte's Risk, Regulatory & Forensics practice delivers highly specialized advisory solutions for companies facing critical business events where significant value is at stake, in every phase of the economic cycle.
Our work is often high profile, high impact, and highly rewarding. If you are looking for a challenge and an opportunity to grow your career alongside the best and brightest in the industry, you will find it in Risk, Regulatory & Forensics at Deloitte

Enough about us, let's talk about you

You are someone with:

• 5+ years of experience within a credit risk model development or model validation team at a major financial institution or consulting firm, with a consistent record of achievement while collaborating with cross-functional teams.
• A strong academic background, with a graduate degree (Masters or PhD) in a quantitative field such as finance, economics, statistics, mathematics, computer science, or another relevant postgraduate discipline.
• Comprehensive understanding and expertise of OSFI E-23 Model Risk Management Guidelines.
• Proficiency in standard credit risk practices, including expected loss methodologies for Probability of Default (PD), Loss Given Default (LGD), and Exposure at Default (EAD), as well as a comprehensive understanding of supervisory and regulatory requirements for credit risk models, including the IFRS 9 and Basel frameworks.
• Significant experience and demonstrated ability using Python and SQL. Proficiency in other programming languages such as SAS and R is highly desirable.
• Excellent written and verbal communication skills, including the ability to document and communicate analytical findings effectively.
• A goal-oriented mindset and strong motivation to achieve targets and make a positive impact, while consistently embodying the company's core values of trust, teamwork, and accountability.

Total Rewards

The salary range for this position is $101,000 - $169,000, and individuals may be eligible to participate in our bonus program. Deloitte is fair and competitive when it comes to the salaries of our people. We regularly benchmark across a variety of positions, industries, sectors, targets, and levels. Our approach is grounded on recognizing people's unique strengths and contributions and rewarding the value that they deliver.

Our Total Rewards Package extends well beyond traditional compensation and benefit programs and is designed to recognize employee contributions, encourage personal wellness, and support firm growth. Along with a competitive base salary and variable pay opportunities, we offer a wide array of initiatives that differentiate us as a people-first organization. On top of our regular paid vacation days, some examples include: $4,000 per year for mental health support benefits, a $1,300 flexible benefit spending account, firm-wide closures known as "Deloitte Days", dedicated days of for learning (known as Development and Innovation Days), flexible work arrangements and a hybrid work structure.