At the time the Capitals named him as team captain in his second season, he was the youngest player in the history of the NHL to hold that position.

In September 1982, Walter and Rick Green were traded to the Montreal Canadiens as part of a six-player blockbuster deal in exchange for Brian Engblom, Doug Jarvis, Rod Langway and Craig Laughlin.

In 1991, he signed as a free agent with the Vancouver Canucks, where he played the final two seasons of his career and won the Budweiser NHL Man of the Year Award in 1992.

On September 21, 2010, Walter was named head coach of Canada's women's hockey team which won the gold medal at the 2010 Four Nations Cup.

Walter served as the president of the Abbotsford Heat of the American Hockey League, which was the minor-league affiliate of the Calgary Flames from 2011 to 2014.

[4][5] Walter is a motivational speaker, author and leadership expert, using his experiences in hockey to relate to business and success.