Economist or Senior Economist

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. 

What you will do 

The Real Sector Stability (RSS) division in the Financial Stability Department (FSD) assesses vulnerabilities and risks in the key sectors that drive credit demand in Canada (households, businesses, and the housing market). 

The division produces analysis for the Staff Financial Stability Assessment (staff views on the level and evolution of vulnerabilities and risks in the Canadian financial system). This work informs the Bank’s assessment of key vulnerabilities and risks and supports external communications by providing key inputs to the Financial Stability Report. RSS analysis is often published as Staff Analytical Papers or Sparks at Bank articles and helps inform discussions with federal partners on macroprudential policy. The division also conducts research and analysis related to financial stability considerations for monetary policy decisions.

As an Economist or Senior Economist, you will contribute to the department’s assessment of vulnerabilities and risks by proposing and delivering high-quality, policy-relevant research and analysis. You will work with complex microdata to assess trends and developments in the firms, households and housing sectors, and you will help strengthen the analytical tools and frameworks. Data sets used include credit bureau data covering the universe of Canadian borrowers; the real estate secured loans data set (RESL) from the Office of the Superintendent of Financial Institutions (OSFI); financial and borrowing records for Canadian businesses; and detailed survey data on households and firms. 

Examples of recent analytical work from RSS division include: 

• Household balance sheets and mortgage payment shocks
• Examining the macro drivers of mortgage arrears in Canada
• What’s behind the slowdown in Toronto’s condo market 
• How will mortgage payments change at renewal? An updated analysis
• Examining the Links Between Firm Performance and Insolvency

What you need to succeed

• Ability to analyze large economic and financial data to identify complex patterns
• Eagerness to leverage data for evidence based policy advice
• Strong written and verbal communication skills, with the ability to clearly convey complex information to diverse audiences
• Demonstrated strength in producing high-quality analysis and research 
• Ability to work in team and develop positive working relationships by supporting team decisions and promoting co-operation and partnerships
• Ability to combine depth of analysis with fast-paced environment

Nice-to-have 

• Knowledge of housing, household and business sectors
• Previous experience working with large micro datasets
• Ability to apply econometric methods to policy questions
• Interest in uncovering and understanding macro-financial linkages
• Coding experience, including proficiency in Python (PySpark), R, MATLAB, SQL
• Knowledge of the regulatory structure of the Canadian mortgage market
• Comfort using AI enabled tools to enhance analysis and explore new ways of working

Your education and experience

An Economist position requires a Master’s degree in economics with a minimum of one year of relevant experience in economic analysis or in a field related to policy development, or an equivalent combination of education and experience may be considered.

A Senior Economist position requires a PhD in economics or a Master’s degree in economics with a minimum of four years of relevant experience in economic analysis or in a field related to policy development, or 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 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.

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. 

Economist
Candidates whose experience and/or educational background may not be at the Senior Economist level will be considered for a position within the accelerated progression stream program (P3-P4). This program allows employees to acquire the skills they need over a number of years to reach the working level of a Senior Economist at the job grade 17. 

• Salaries are based on qualifications and experience and typically range from $93,306 to $111,050 (job grade P3-P4).
• During the progression, you are not eligible for performance pay. Instead performance is rewarded via a faster rate of progression through the salary range.  

Senior Economist

• 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.