Senior Economist or FSS Senior Analyst (2023-2024 PhD Job Market)

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 Bank’s current research priorities, explore the broad range of staff research that our people have the intellectual freedom to pursue, and learn about the ways in which the Bank supports and collaborates with the external research community.

Application Process

Your application must include the following: 

• cover letter
• curriculum vitae
• research paper(s) or job market paper 
• three letters of recommendation

Letters of recommendation should be submitted through Econjobmarket.

To apply, click on the link above or visit www.bankofcanada.ca/careers. 

Application deadline  
Applications will continue to be accepted until all positions are filled. We recommend that candidates submit their applications by November 15th, 2023, as we will conduct virtual interviews as early as December 1st. 

Your future responsibilities as a Senior Economist or FSS Senior Analyst 
You will support the economic and financial welfare of Canadians and contribute to the Bank’s work at an international level. You will take part in leading-edge analysis, which supports the Bank in its functional areas, and collaborate with your colleagues within the Bank and at other organizations in Canada and abroad. Subject to the needs and interests of the Bank and the employee, senior economists or senior analysts may move to other Bank departments to pursue research of relevance in new or needed areas.

More specifically, you will be expected to:

• participate in the conduct of monetary policy, help promote the safety and efficiency of our financial and payment systems, assist in managing the government’s public debt programs and foreign exchange reserves, and support the design, issuance and distribution of Canada’s bank notes
• develop leading-edge research ideas and produce high-quality research papers related to the broad responsibilities of the Bank’s functional areas
• conduct policy analysis and brief senior management on matters related to the responsibilities of the functional areas
• work in collaboration with colleagues from the Bank on multi-disciplinary projects that may involve functioning in a matrix environment
• collaborate with colleagues within the Bank and from other organizations to develop research ideas, as well as produce and disseminate research 
• build relationships with external parties, e.g., government and international agencies, other central banks, financial market participants and organizations, and outside academics, to share knowledge, research and analysis

Your education 

• a recent (completed after 1 January 2016) or forthcoming (completed in 2024) PhD in economics or finance 

Your knowledge and skills 
We will evaluate your application against the key requirements listed below and your education, which must be demonstrated in your cover letter, curriculum vitae, three letters of recommendation, and research paper(s) or job market paper.  

If you are selected for an interview, you may be evaluated through two interviews and a presentation of your job market paper.

Key requirements

• research skills: the ability to undertake in-depth and high quality research projects that are publishable in top-tier, peer-reviewed academic journals 
• fields of expertise: through research in one or more of the following relevant areas of research, depending on specific needs of the Bank’s functional areas 
  • macroeconomics and monetary economics
  • banking and payment systems and digital currencies
  • digital economy    
  • international economics
  • global commodity markets
  • financial economics
  • financial markets and institutions 
  • labour and demographic economics 
  • mathematical and quantitative methods 
  • industrial organization
  • law and economics
• writing skills: the ability to produce effective written documents in a style and form likely to appeal to and influence the intended audience
• oral communication and presentation skills: the ability to make effective, well-structured presentations adapted to the intended audience, inside or outside the Bank, and the ability to communicate effectively with others by demonstrating active listening skills and conveying information clearly 
• teamwork and collaboration: the ability to work independently and collaboratively
• innovation: the ability to create new insights, devise novel approaches and make innovative decisions through research
• analytical and technical skills: strong problem-solving skills, including the ability to analyze complex economic and financial information using empirical and/or modelling skills

Language requirement: English or French essential (verbal and written)

In exceptional circumstances, an equivalent combination of a PhD and research experience in an area of current particular relevance or interest to the Bank not listed above may be considered.

Research support, collaboration and development
The Bank of Canada is committed to employee growth and career development and supports employees in reaching their full potential within their roles. 

• As part of the career path in this position, it is possible to progress to a role with an expanded scope at a higher job grade, and a corresponding salary increase, if specific criteria are met. 
• Travel for external presentations of ongoing research is centrally funded and managed by a committee comprised of Senior Researchers. Additional funding may be available for working with co-authors, invited discussions, or attending high-profile conferences.
• Support provided by Research Assistants who help gather data, conduct statistical analysis, and prepare materials for presentations and a talented team of administrative, computer, data-scientist, editorial, design, and library professionals.
• Access to numerous data sources, including confidential and administrative data and powerful computing capabilities, including the cluster.
• A variety of vehicles for external distribution of research and analytical work. These include, personal web pages, Staff Working Paper series, Staff Discussion Paper series, Staff Analytical Notes series, and Technical Reports.
• Many opportunities to interact and exchange ideas, provide feedback on ongoing research, and collaborate on research projects with economists from top economic departments and major institutions, with potential referees, and journal editors by offering:  
  • a steady stream of research conferences, workshops, and visiting speaker seminars throughout the year including the Fellowship Program and the Visiting Scholar Program.
  • the opportunity to work along side several Special Advisers whose role is to enhance the research efforts and policy advice by providing guidance on joint research projects (i.e. commenting on papers and policy documents).

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.

Salary
The Bank offers a competitive total compensation package that is reviewed annually. The starting base salaries are based on qualifications and range annually between Can$110,800 and Can$147,736. 

The salaries currently indicated are based on the 2023 salary scales. The Bank’s salary structure is reviewed regularly to ensure that the total compensation (salary and benefits) offered to employees continues to be competitive. In 2024 the salaries indicated above could be adjusted in accordance with the Bank’s annual salary review process and this poster will be updated to reflect any changes.

Hiring bonus
You may be eligible for a hiring bonus payable as a lump sum payment at time of hire and up to three annual additional payments to a total maximum of up to 30% of your base salary.

Performance pay
You may be eligible for performance pay for successfully meeting, exceeding expectations or far exceeding expectations (7 to 20% of your base salary).

Additional Benefits

• 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 plan

For more information on key benefits, please visit www.bankofcanada.ca/careers/working-here.
 
Additional information

• Priority will be given to Canadian citizens and permanent residents
• Must be eligible for reliability status or secret clearance
• Relocation assistance may be provided, if required
• Contact information: recruitment@bankofcanada.ca
• Number of available positions: 5
• Work address: 234 Wellington Street West, Ottawa, ON K1A 0G9
• Position Type: Permanent

Hybrid Work Model #LI-Hybrid

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 substantial part 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 eight days per month to help build connections between colleagues. You must live in Canada, and within reasonable commuting distance of the office.

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