FSS Senior Analyst, Payment Systems Oversight Division

FSS Senior Analyst, Payment Systems Oversight Division

Take a central role

The Bank of Canada has a vision to be a leading central bank—dynamic, engaged and trusted—committed to a better Canada. No other employer in the country offers you the unique opportunity to work at the very center of Canada’s economy, in an organization with significant impact on the economic and financial well-being of all Canadians. You will be challenged, energized and motivated to excel in our environment.

Building on the principles that have always guided us – excellence, integrity and respect – we strive to be forward-looking and innovative, to welcome people with diverse perspectives and talents, and to earn trust by living up to our commitments and by clearly explaining the intent of our policies and actions.

With our defined-benefit pension plan, benefits, and high flexibility for work life balance - find out more about why we are annually ranked as one of Canada's top employers: Working Here - Bank of Canada

Find out more about the next steps in our Recruitment process.

In addition to the position being staffed, this competition may be used to fill similar opportunities (Regular or Term) that become available at the same job grade. If you’re interested in this type of role, we encourage you to apply.

Did you know?
With the rapid changes in the payments landscape in Canada and globally, the Bank of Canada’s role in shaping the future of payments has expanded significantly in recent years. Part of the Bank of Canada’s mandate is to ensure that designated payment systems are adequately controlling risks, ensuring the safe evolution of the payments environment in Canada.

The Payment Systems Oversight Division in the Payments and Regulatory Oversight Department has oversight responsibility for systemically and prominently important payment systems in Canada. These critical payment systems enable individuals, businesses and financial institutions to make payments safely and efficiently, whether to purchase goods and services, invest in financial assets or settle financial obligations.

What you will do
Under the direction of the Director, Payment Systems Oversight, you will be a member of the team responsible for the oversight of payment systems designated by the Bank under the Payment Clearing and Settlement Act. You will apply your knowledge of risk management to assess designated systems against the Bank's risk-management standards across a broad range of areas, including governance and enterprise risk management, credit and liquidity risk, operational and cyber resilience, third-party risk, fraud risk, and participation and access. You will also review significant changes proposed by designated systems, such as changes to system design, rules and technology, and help identify where risk-management practices should be improved.

Beyond these assessments, you will analyze emerging risks and how they may affect the risk profiles of designated systems. These include risks arising from the growth of fintechs and new participants, the adoption of emerging technologies such as cloud computing, distributed ledger technology and artificial intelligence, and changing macro-financial conditions that can affect liquidity and other financial risks. You will engage with staff at regulated entities, contribute to the Division's analysis and policy advice, and represent the Bank with domestic and international authorities, including through cooperative oversight arrangements with other central banks and regulators.

What you will need to succeed

• ability to work effectively with ambiguity and exercise sound judgment in a principles-based oversight environment
• knowledge of risk-based, outcomes-focused approaches to oversight or supervision, or the ability to develop it quickly
• ability to analyze trade-offs, weighing risks, costs and benefits, and to develop well-reasoned recommendations
• strong analytical and problem-solving skills, including the ability to analyze economic, financial, and risk information and to propose, organize and conduct in-depth policy and analytical projects
• effective oral and written communication skills, including the ability to present to a variety of internal and external audiences and represent the Bank in your areas of expertise
• flexibility to adapt to changing priorities and balance multiple tasks, with self-motivation, initiative and strong attention to detail, often under tight deadlines
• ability to build and maintain a broad network of relationships with peers, your leader and internal and external stakeholders

Nice-to-have

• experience supervising financial sector firms
• experience developing policy related to the financial, payments, or technology industries
• practical experience with, or knowledge of, risk management practices at financial institutions
• Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or Professional Risk Manager (PRM) designation or certification, or the completion of courses towards these designations or certifications
• knowledge of payment clearing and settlement systems (FMIs) and/or retail payments
  experience participating in international or domestic inter-agency committees or working groups

Your education and experience
This position requires a master's degree in economics or finance with a minimum of four years of recent work experience related to risk management in the financial sector. An equivalent combination of education and experience may be considered.

Innovative Mindset
We value candidates who demonstrate adaptability, curiosity, and a willingness to learn new technologies, including AI and digital tools. We seek individuals who can think critically about data, question existing processes, and find ways to simplify our work while embracing change and new ways of doing things.

Language requirement
The Bank’s work environment is conducive to the use of both of Canada’s official languages - English and French. Although the position language requirement is English or French essential, we do encourage everyone to improve their second language proficiency for future career growth and to contribute towards fostering a bilingual environment.

What you need to know

• Priority will be given to Canadian citizens and permanent residents
• Security level required: Be eligible to obtain Reliability
• Relocation assistance may be provided, if required
• Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.
• The official title for this position is “FSS Senior Analyst ”

Hybrid Work Model
The Bank offers work arrangements that provide employees with flexibility, enable high-performing teams, and support an excellent workplace culture. Most employees can telework from home for a portion of each month as part of the Bank’s hybrid work model, and they are expected on site at the Bank location a minimum of 12 days per month to help build connections between colleagues. You must live in Canada, and within reasonable commuting distance of the office.

What you can expect from us
This is a great opportunity to join a leading organization and be part of a high-performing team. We offer a competitive compensation and benefits package designed to meet your needs at every stage of your life and career. For more information on key benefits please visit A great deal to consider.

• Salaries are based on qualifications and experience and typically range from $111,051 to $130,649 (job grade 17)
• The Bank offers an incentive for successfully meeting expectations at 7 to 10% of your base salary. The Bank offers additional performance pay (5%) for those who exceed expectations. Exceptional performers who far exceed expectations may be eligible for higher performance pay.
• Flexible and comprehensive benefits so you can choose the level of health, dental disability and life and/or accident insurance coverage that meets your needs
• Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
• Indexed, defined-benefit pension

We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.