Intern Analyst Model Validation - Winter term

TSX Inc.; Montreal; Hybrid; CAD 22,000 - 30,000; Full time

Job summary

TMX Group invites an Intern Analyst to join the Model Validation team in Montreal. You will support data cleansing, research, and automation of workflows under senior guidance, contributing to model governance and validation standards.

Expect a guided term project, exposure to quantitative analytics, and collaboration across a global capital markets environment. The internship runs January 4 to April 30, 2027, with hybrid office presence.

Qualifications

• Undergraduate or Graduate degree in a quantitative field such as finance, statistics, math, economics or related area.
• Ability to identify issues, analyze problems, and provide written reports.
• Capability to manage multiple projects in a fast-paced environment.
• Demonstrates integrity and professional conduct.

Responsibilities

• Support Model Validation with research, regulatory analysis, data cleansing, and optimization tasks.
• Assist in automation of workflows using Python, SQL, or Matlab under mentorship.
• Contribute to documentation reviews and benchmarking checks on models and tools.
• Complete a guided term project aligned with team initiatives and present findings.
• Learn fundamentals of model governance and validation standards.

Skills

Analytical rigor

High-performance execution

Professionalism

Education

Finance, Statistics, Mathematics, Economics, Financial Engineering, or related quantitative field

Tools

Python

SQL

Matlab

VBA

Power BI

Tableau

Job description

Venture outside the ordinary - TMX Careers The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team. Ready to be part of the action?

Role Summary

The Intern Analyst, Model Validation will gain practical, hands-on experience by supporting the Model Validation team across various quantitative and analytical initiatives. Working under the guidance and mentorship of senior team members, you will be involved in tasks including assisting with research and regulatory analysis, data cleansing, database maintenance and optimization, and automating manual workflows.

Depending on project needs, this may also include supporting the review or documentation of risk models and analytical tools, while gaining exposure to the fundamentals of model governance and validation standards.

Role Reports to: Head of Model Validation

Work Location: Hybrid (2-3 days/week in the office) - based in Montreal, QC.

Key Responsibilities & Student Learning Objectives

• Data Management & Optimization: Support the team with database maintenance, data cleansing, sorting, and structuring to help maintain reliable data pipelines for analytics.
• Process Automation & Tooling: Assist in identifying routine manual tasks and developing scripts (e.g., Python, SQL, or Matlab) to help automate workflows and improve operational efficiency.
• Research & Analytical Support: Assist senior analysts with background research, regulatory review, and exploratory data analysis across team projects.
• Model Validation Exposure: As project opportunities arise, support the team with ad-hoc model documentation reviews, preliminary benchmarking checks, or report summaries under direct senior mentorship.
• Learning & Development Project: Complete a guided term project aligned with team initiatives (such as a workflow automation, data optimization, or exploratory benchmark task), with the opportunity to present findings to the team.

Skills & Experience Must Have(s)

• Education & Academic Status: Currently enrolled in an Undergraduate or Graduate degree program in Finance, Statistics, Mathematics, Economics, Financial Engineering, or a related quantitative field.
• Analytical Rigor: Ability to identify issues, analyze problems, and provide in-depth written reports and recommendations.
• High-Performance Execution: Proven ability to manage multiple projects and priorities concurrently in a fast-paced environment.
• Professionalism: Demonstrates a high degree of integrity and ethical conduct.

Nice to Have(s)

• Knowledge of Python, SQL, Matlab, VBA, Power BI, or Tableau.
• Knowledge of regulatory requirements such as PFMI, OSFI, or EMIR Guidelines.
• Experience in the technology and financial services industry.

Notes: 4 months internship : January 4 to April 30, 2027

In the Market for…

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success. Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work. Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy. Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived! Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.

Our Culture

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team. Ready to be part of the action?

Our Business

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation Trayport and VettaFi, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna. For more information about TMX Group, visit www.tmx.com.

Additional Information

Please note that our company is not currently sponsoring work permit applications and the applicant must be authorized to work in the country where this position is located.

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.

Follow TMX Group on Twitter: @TMXGroup.