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Requisition Number:  7260
Position Type:  Permanent
Position Length:  Indeterminate

Ottawa (Downtown), ON, CA

Remote Work:  No, must be onsite
Closing Date:  December 12, 2021 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 to discuss how.

Director, Risk and Compliance - Banking Operations

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


What you will do 
As the Director, Risk and Compliance (R&C), you will provide strategic leadership to the business line responsible for providing second-line support for Banking Operations. Our team is composed of two business areas: Account Risk Management (ARM) and Operational Risk, Contingency and Compliance (ORCC). You will work closely with our Leadership team to embed a culture of risk management in the business and work collaboratively with other partners across Banking and Payments and the Bank more broadly to ensure critical operations and their risks are well understood and positioned to manage shocks and risk events. As the team is fairly new, you will have an opportunity to shape Banking Operations’ risk management approach, policies and practices. You will also be responsible for leading the development of medium-term strategic planning by determining goals and objectives for the business line, as well as manage the budget and resource requirements for the teams. 


In addition, you will:

  • Build and maintain relationships with internal and external partners.
  • Provide intellectual leadership and advice including developing reporting and strategy for escalated issues.
  • Create a healthy work environment that fosters continuous professional development, innovation and inclusion.
  • Represent the Bank on risk committees.


What you need to succeed 
You have extensive experience in risk management at a senior leadership level and possess knowledge of best practices in both subject matter and leadership. You think critically, see the bigger picture, and provide sound advice. You are an outstanding communicator able to provide clear advice on complex and sensitive matters to a broad range of audiences. As a seasoned leader, you can foster a positive work culture and mobilize teams and collaborators/partners towards a common vision and objectives. 



  • Knowledge of the Canadian payment and settlement ecosystem
  • Accreditation in a risk management subject area


Your education and experience
The position requires a bachelor’s or master’s degree in Business, risk management, or a related field, minimum of 10 years of experience, or 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: Secret 
  • 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.
  • 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.  
  • The official title for this position is “Director, Risk and Compliance ” 


Hybrid Work Model 
The Bank is moving towards a hybrid working model which will allow most employees to telework up to 50 percent of the time, balanced over a two-week period. 


Vaccination: In response to the COVID-19 pandemic that was declared by the World Health Organization, the mandates issued by the federal government, and the direction provided by public health authorities, the Bank of Canada requires all new employees to be fully vaccinated prior to their start date.  If you are the selected candidate, you will be asked to first attest your vaccination status at the reference stage and will then be required to submit proof of vaccination status or request accommodation for a legitimate medical, religious reason or other human rights-based grounds at the offer stage as part of the offer process.


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 $124,725 to $155,905 (job grade 20)
  • 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