Share this Job
Requisition Number:  8289
Position Type:  Permanent
Position Length:  Indeterminate
Location: 

Ottawa (Downtown), ON, CA

Remote Work:  Hybrid Model
Closing Date:  October 11, 2022 23:59 EST

Diversity and Inclusion
We strive to make our policies, programs and workplace more inclusive, respectful and barrier-free. We encourage applications from women, Indigenous peoples, veterans, persons with disabilities, members of visible minorities and persons of all races, ethnic origins, religions, abilities, sexual orientations, and gender identities and expressions.

We make career growth and professional development a priority. We are committed to developing inclusive, barrier-free recruitment and selection processes, and a work environment that supports our diverse workforce.

Let our team know if you need accommodation or support during the recruitment process due to a disability or other reason. We can provide support in multiple ways, from using this site and submitting your application, right through to the interview process. If you are the successful candidate, you can also discuss accommodation needs when you receive your offer.

Contact accessiblecareers@bankofcanada.ca to discuss how.

Director, Payment System Oversight

Director, Payment System Oversight


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 a diverse and inclusive organization with significant impact on the economic and financial well-being of all Canadians. You will be challenged, energized and motivated to excel in an environment where we are reinventing central banking, renewing ways of doing business and reinforcing a culture of innovation.

 

Find out more about the next steps in our Recruitment process

 

Did you know? 
The payments landscape is changing rapidly in Canada and around the world, with several new ways for consumers and businesses to make payments at various stages of development. As part of its mandate to ensure critical payments systems are sound, the Bank of Canada plays an important role in fostering the safe evolution of the payments environment domestically and abroad. 

 

What will you do 
You will lead the Bank’s unit that carries out its regulatory oversight responsibility for the critical payment systems that process billions of dollars per day. The division is also at the centre of regulatory and policy developments related to payments, such as the modernization of Canada’s payments ecosystem and global efforts to improve cross-border payments solutions.

 
You will play a central role in developing the vision and strategic direction for the division, and contribute more generally to the direction of the Financial Stability Department. In leading this multidisciplinary unit that is comprised of financial sector policy analysts, academic researchers and a cybersecurity experts, you will be supported by an Assistant Director, a mix of direct and indirect reports. This is an outward facing role that will involve extensive interactions with stakeholders from the payments industry, such as operators of designated systems, and with other central banks through supervisory colleges and working groups of the BIS Committee on Payments and Market Infrastructures. 

 

 

FISC Interchange Program

The FISC Interchange Program is a mechanism for supporting talent management and employee development from the following participating agencies: Department of Finance, Financial Consumer Agency of Canada, Canada Deposit Insurance Corporation, Office of the Superintendent of Financial Institutions and the Bank of Canada. By taking temporary assignments, participants develop professionally and may learn specific skills and knowledge, while agencies participating in the Program may benefit from new knowledge, skills and approaches.

 

Assignments are for a fixed duration that can be up to three consecutive years but will typically last between 12 and 24 months (depending on operational needs) and are salary neutral.  There is a minimum gap period of two years before a former participant may participate again through the Program.

 

What you need to succeed
You have knowledge of issues related to payments, financial sector supervision or the financial sector more broadly, as well as excellent analytical and problem-solving skills. You are a seasoned people leader that is committed to learning and self-development and with good coaching skills to support the professional development of both individual contributors and people leaders. As someone with strong negotiation skills, you are able to work proactively and influence others to achieve goals and make effective changes – with the ability to promote collaboration across areas.

Specifically you will be: 

  • developing sound advice that incorporates a broad, system-wide perspective as appropriate
  • identifying potential problems, obstacles or opportunities and take them into account in your recommendations
  • exchanging information and ideas with others and clarify complex information, using clear and compelling written and oral communication skills, to advance the quality of decision-making
  • setting clear goals and motivate a team of both direct and indirect reports
  • developing positive working relationships by supporting team decisions, addressing conflicts, and promoting co-operation and partnerships
  • providing support, guidance and feedback to help others meet their objectives, performance targets and personal career goals


Nice-to-have 

  • practical experience supervising financial sector entities
  • track record of advancing your organization’s business objectives by influencing external stakeholders in a bilateral or multilateral setting 


Your education and experience
The position requires a master’s in economics, finance or an equivalent discipline and a minimum of twelve years of experience in financial sector analysis and policy advice. An equivalent combination of education and experience may be considered. 

 

 

What you need to know

  • Language requirement: English and French essential (bilingual) with a minimum starting level of functional (level 4) in second official language. Training may be provided to help reach the required level of fully functional (level 5) in second official language.
  • Priority will be given to Canadian citizens and permanent residents
  • Security level required: Be eligible to obtain Secret 
  • Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.
  • In response to the COVID-19 pandemic and further to public health guidelines, preventative measures are being taken to ensure health and safety during the recruitment process. All interviews are conducted virtually.  

 

Hybrid Work Model #LI-Hybrid

The Bank is conducting a trial of a hybrid working model which provides employees with the flexibility to telework for significant portions of each month. During the trial, employees will be expected to come onsite on those days when they are involved in activities that they or their leader feel are better conducted in person and to build connections with colleagues.  For the majority of employees, it is expected that onsite time will range from 5 to 10 days per month, depending on your role.  You must live in Canada, and within reasonable commuting distance of the office. 

 

Vaccination Policy

Please note that the application of the Bank’s Covid-19 Vaccination policy has been temporarily suspended, effective June 20, 2022.  As a result, you will not be required to submit verification of your vaccination status before starting employment with the Bank.  However, please note that the Bank reserves the right to reintroduce vaccination requirements in the future if necessary to respond to changing public health advice and\or government direction.

 

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

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 $180,875 to $226,095 (job grade 21)
  • Depending on performance, you may be eligible for performance pay for successfully meeting (7 to 10% of your base salary) or for exceeding expectations (15% of your base salary). 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 #LI-POST