***PLEASE READ THE JOB POSTING CAREFULLY AND SUBMIT YOUR FULL APPLICATION THROUGH EMAIL***
APPLICATION INFORMATION
Apply to this role by sending the below information to info@therisc.ca, with the subject “Winter 2027 Internship - Quantitative Analyst Intern”:
- Your latest resume;
- Official transcripts (if applicable);
- Cover letter addressing the “Qualifications” section below (2 pages max.);
- Names and contact details of 2 references who have directly supervised your work. Reference letters will not be accepted.
The deadline to apply for this position is October 23, 2026. Please note that an in-person interview in the Toronto office may be required.
NOTE: Incomplete applications will not be considered. Applications that do not meet the “Requirements” section will not be considered. Only selected candidates will be contacted.
YOUR ROLE
We are seeking a Winter 2027 intern for the role of Quantitative Analyst Intern at our partner organization, a leading Canadian-based financial services firm, in their Model Validation and Analytics Unit. You will be interning at a leading Canadian-based financial services company with a long history of helping clients achieve lifetime financial security and live healthier lives.
In this role, you will support the validation and assessment of mathematical, financial, and actuarial models, applying strong quantitative, analytical, and problem-solving skills. The ideal candidate is technically strong, learns quickly, and can creatively apply financial knowledge and modelling skills to assess models incorporating financial engineering, risk management, and statistical techniques.
RESPONSIBILITIES
- Assist in validating existing and new models in compliance with the company’s Model Risk Policy, standards, and guidelines.
- Develop and implement various testing such as benchmark model, sensitivity and stress testing, or any other statistical testing to assess accuracy, completeness, and robustness of the model.
- Evaluate the performance and conceptual soundness of machine learning and Generative AI models where applicable.
- Communicate model review results and key findings to the managers and model owners.
- Prepare validation scope documents, testing approaches, test results, findings documents, and validation reports.
- Interact with model owners and model developers to gather necessary data, clarify model methodologies and resolve identified model issues.
- Support other ongoing research, projects, and continuous improvement initiatives within Corporate Model Risk Management unit as needed.
QUALIFICATIONS
- Must be a graduate-level student from the following universities: University of Waterloo, University of Toronto, York University or Western University.
- Currently pursuing a Master's degree or a higher degree in a quantitative field such as Mathematics, Statistics, Mathematical Finance, Financial Engineering, or a related field.
- Strong understanding of financial mathematics, risk management concepts, and statistical modelling.
- Solid working knowledge of machine learning models and techniques including their application in risk management and finance.
- Proficiency in at least one programming language (Python, MATLAB, or R).
- Strong Excel skills, including hands-on experience with VBA programming.
- Excellent problem-solving skills and ability to work independently and collaboratively.
- Strong verbal and written communication skills, adept at explaining technical concepts clearly.
- Ability to analyze complex models and datasets with attention to detail.
- Ability to work under tight deadlines and with multiple priorities.
Work hours:
Full-time
Duration:
4 months, with possibility of extension
Work mode:
Hybrid
Application deadline:
October 23, 2026
How to apply:
Please refer to the instructions at the beginning of the job posting. Only full applications meeting the "Qualifications" criteria sent via email will be considered.
