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Requisition Number:  4089
Position Type:  Term
Position Length:  3 year with possibility of extension / permanent
Location: 

Ottawa (Downtown), CA

Closing Date:  15 July, 2020 - 23:59 EST

Diversity and Inclusion
As one of Canada’s Top 100 Employers, we offer you a superior work environment that allows you to reach your full potential both professionally and personally. 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.

Research and Development Technologist, CBDC


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

 

The Project
The Bank of Canada is embarking on a program of major social significance to design a contingent system for a central bank digital currency (CBDC), which can be thought of as a banknote, but in digital form. This project will require us to break new ground. It will take into consideration a wide variety of factors, including policy considerations, diverse stakeholder needs, difficult technical challenges and the development of a technical architecture to realize a CBDC pilot system. 

 

The Challenges
We aim to design a CBDC with cash-like properties in digital form: 

  • Private: While not aiming for cash-like anonymity, CBDC should be highly private yet meet the obligation to be compliant with anti-money laundering and other regulations. 
  • Universally accessible: Regardless of their circumstances, CBDC should be usable by all Canadians, even by those without a bank account or access to a cellular phone, in remote communities not well served by cellular networks, and/or those with sensory, motor and cognitive impairments. 
  • Resilient: CBDC should continue to work even during electrical power and network outages. 
  • Secure: CBDC must have the highest levels of security so Canadians can use it with confidence, as they do our banknotes.
  • We will design an architecture into which these properties are coherently embedded, with a potentially multi-decade evolving lifespan, supporting a business model designed to achieve CBDC policy goals.

 

What you will do                                                                                                                                                                                          

Reporting to the Director, Fintech Research team in the IT Services department, you use your expertise and intellect to solve unique and difficult problems. Working in a talented and diverse team you touch all phases of a research and development project towards meeting challenging policy goals.


You will have the opportunity to use your specialized skills, develop these further and contribute to other areas of the project:

  • Devise technical solutions to difficult and unique problems either independently, with team members or with external vendors and experts as required
  • Identify gaps and Investigate emerging technologies as required for their application for CBDC
  • Liaise closely with, and consider impacts on, other aspects of the system, outside the immediate area of responsibility, in formulating technical designs
  • Recommend solutions to specific problem to solution architect and project leadership with a holistic view of impacts (e.g. effectiveness of solution, costs, risks, evolution over time) 
  • Explain and justify design choices, especially when multiple options are available
  • Explain technologies and solutions to other technical audiences and occasionally business stakeholders in the Bank
  • Assist in the design and development of proof-of-technologies / proof-of-concepts
  • Contribute to development of a working CBDC system
  • Contribute to the documentation and body of knowledge of technical designs
  • Give intellectual leadership to other members of the team involved in the same domain area
  • Mange day-to-day relationship with external parties such as vendors to ensure efficient work practices and management of risks
  • Manage and balance the workloads of multiple simultaneous projects

 

What you need to succeed
We are looking for talented individuals from diverse backgrounds who are accomplished in one or more of the following areas:

  • Cryptographers with foundational understanding of cryptographic concepts and constructs able to apply their skills to product evaluation and development; 
  • Digital security experts with specialization in the security of consumer electronic endpoints, such as smartphones, and custom electronic devices with secure elements; 
  • Privacy experts who understand conceptions of privacy, related laws and regulations, able to design technological and operational means for achieving privacy
  • User experience experts with foundational understanding of UX and able to work with a variety of individuals towards state-of-the-art inclusive design
  • Reliability and resilience engineers with backgrounds in designing and building critical systems with extremely high resilience and fault tolerant requirements
  • Systems architects with backgrounds in product development within complex eco-systems, able to conceive and guide the development of systems spanning a range of technologies 

 

We are also looking for someone who demonstrates:

  • Creativity: Able to devise solutions to hard problems
  • Intellectual leadership: Able to acquire and apply mastery of subject matter with others
  • Versatility: Able to contribute to areas outside immediate expertise

 

 Nice-to-have

  • A post graduate degree in one or more of the relevant specializations detailed above
  • A research-oriented mindset and publication in peer reviewed journals
  • Early stage product development, especially mass-market retail products, ideally related to money and payments mass market  

 

Your education and experience
The position requires a bachelor’s degree in computer science, electrical engineering, physics, mathematics or another related discipline with a minimum of three years of relevant work experience as well as experience using at least two major programming languages (Java, C++, Python, Ruby, etc.) or evidence of substantial expertise with the tools relevant to your field 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 via Skype.  
  • The official title for this position is “Technical Researcher, CBDC ” 

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 $94,100 and $117,600 (job grade 18). The intent is to staff at job grade job grade 18. Based on business needs and the successful candidate’s experience, knowledge and competencies, the position may be staffed at JG 17 ($83,900 and $104,800).
  • 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 and dental coverage that meets your needs
  • Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
  • Option to join the indexed, defined-benefit pension plan after 24 consecutive months of service

 

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.