---
title: 'Senior Manager, Model Development at EQ Bank | Canada''s Challenger Bank'
canonical: 'https://feeny.ai/job/senior-manager-model-development-eq-bank-canada-s-challenger-bank-toronto-vah2tjnv9gjt'
type: 'job'
last_seen: '2026-09-08'
---

# Senior Manager, Model Development at EQ Bank | Canada's Challenger Bank

- **Company:** EQ Bank | Canada's Challenger Bank
- **Location:** Toronto, Canada
- **Employment:** full-time
- **Work type:** hybrid
- **Posted:** 2026-09-03
- **Last confirmed live:** 2026-09-08
- **Apply:** https://jobs.lever.co/eqbank/57dc794f-2609-47f8-b95e-4577f2152aca

## 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 barrier‑free 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.

## About EQ Bank | Canada's Challenger Bank

## Company Overview
- **One-liner**: A Canadian challenger bank providing digital-first personal and commercial banking, lending, and asset management through its EQ Bank platform and parent company EQB Inc.
- **Entity Type**: Public (TSX: EQB)
- **Headquarters**: Toronto, Ontario, Canada
- **Founded**: 1970
- **Founders**: Not publicly available

## Core Business
- **Primary industries**: Banking, Financial Services, Digital Banking, Asset Management
- **Target customers**: B2C (Canadian consumers), B2B (small businesses, credit unions, commercial real estate borrowers)
- **Mission / purpose**: “Drive change in Canadian banking to enrich people’s lives” — challenging the status quo to bring more competition and better value to Canadians.

## Products & Services
- **EQ Bank**: Canada’s first all-digital, cloud-based bank offering high-interest savings, registered accounts, GICs, and everyday banking (SaaS-like digital platform)
- **Business Banking**: Recently launched all-digital banking platform for small businesses, offering greater value and a differentiated experience
- **Commercial Banking**: Lending focused on insured multi-unit residential securitization, serving builders and renovators of rental apartment supply
- **Insurance (Equitable Trust/Concentra)**: Home and auto insurance, estate and trust services
- **Asset Management (ACM Advisors)**: Alternative asset management for institutional investors
- **Credit Union Solutions**: Services for nearly 200 Canadian credit unions, serving approximately six million members

## Market Standing
- **Valuation / Market Cap**: Not directly disclosed in provided sources; combined assets under management and administration are $151 billion (company overview) – $138 billion (annual report). Market cap is not publicly available in the provided data.
- **Key Metric**: Annual revenue of $270 million (LinkedIn estimate); public company with SEC/TSX filings.
- **Notable Investors / Partners**: Exclusive financial partner of Loblaw Companies Limited’s PC Optimum™ loyalty program (18+ million members). Recognized as one of Forbes’ World’s Best Banks (2021‑2025) and named top bank in Canada and North America by The Banker (Financial Times, 2025).
- **Growth Signals**: 607,000 EQ Bank customers at end of Q4 2025 (18% YoY increase); directly serves over 779,000 customers; employee count grew to ~1,950 (from ~1,360 on LinkedIn, indicating significant hiring); moved into new national headquarters at EQ Bank Tower in Toronto (May 2025).

## Competitive Advantages
- **First-mover digital advantage**: Canada’s first all-digital bank, built on a proprietary cloud platform that enables rapid product development and fintech collaborations.
- **Challenger brand identity**: Distinct positioning as a “Challenger Bank™” that actively disrupts the big-five bank oligopoly, attracting customers seeking better value.
- **Massive embedded reach**: Exclusive partnership with PC Optimum (18M+ members) gives EQ Bank deep integration into daily Canadian spending.
- **Strong regulatory standing**: Operating as a Schedule I bank (7th largest by assets) with OSFI regulation, providing trust and stability.

## Strategic Focus
- **Open banking leadership**: Advocating for and integrating open banking to give customers control over their financial data and enable better choices.
- **Digital expansion**: Scaling the EQ Bank platform (record customer growth) and recently launching Business Banking to capture small business market.
- **Innovation & efficiency**: Leveraging cloud-native platform to drive best-in-class cost efficiencies and rapidly innovate new products.
- **Talent growth**: Investing in leadership development programs and building a pipeline of future leaders to sustain growth.

## Why Work Here
- **Culture**: Recognized on LinkedIn Top Companies list for workplace growth and career progression (2024) and Canada’s Best Workplaces™ (2023). Emphasizes authenticity, inclusion, and a “Challenger” mindset.
- **Work model**: Hybrid work model with flexible hours, generous vacation, and a “work from away” program.
- **Compensation & benefits**: Comprehensive medical, dental, vision, fertility, and mental health support; company equity via stock matching; retirement savings plan with matching; 12 weeks top-up pay for parental leave.
- **Growth & learning**: Annual learning budget; allowances for home office and wellness; structured internship, co-op, and Leadership Development Program (LDP) offering real responsibility, mentorship, and cross-functional rotations.
- **Wellness**: Employee assistance program, sick days, life and disability insurance.
- **Perks**: New national headquarters at EQ Bank Tower in downtown Toronto.

## Sources
1. [eqbank.ca - Company Overview](https://www.eqbank.ca/about-us/about/company-overview)
2. [eqbank.ca - Careers](https://www.eqbank.ca/about-us/about/careers)
3. [jobs.lever.co/eqbank - Job listings](https://jobs.lever.co/eqbank)
4. [linkedin.com/company/-eqbank - LinkedIn company page](https://linkedin.com/company/-eqbank)
5. [filecache.investorroom.com - EQB 2025 Annual Report](https://filecache.investorroom.com/mr5ircnw_eqbank2/1591/EQB-2025_Annual_Report_Final.pdf)

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