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Requisition Number:  4301
Position Type:  Term
Position Length:  18 months with possibility of extension / permanen

Ottawa (Downtown), ON, CA

Closing Date: 

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 to discuss how.

Risk Analyst, Banking Operations

Take a central role
The Bank of Canada (the Bank) is a high reliability organization that must be continuously ready and able to manage domestic and global crises.
Banking Operations (BOPS), a business line within the Funds Management and Banking Operations Department (FBD), ensures that the Bank can:

  • deliver on its functional mandates and priorities, 
  • fulfil its legislated roles under the Payment Clearing and Settlement Act (PCSA), 
  • contribute to international standard-setting deliberation with regards to payments systems, and
  • serve as a jurisdictional role model in proactive implementation planning of guidance.

The Bank 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 centre of Canada’s economy, in an organization with significant impact on the economic and financial well-being of all Canadians.


Find out more about the next steps in our Recruitment process


Did you know? 
Banking Operations represents a high concentration of mission-critical operations in increasingly complex and threatening environments.  Intelligence and the increase in international standard-setting deliberations/implementation requirements points to this trend continuing. 

BOPS is evolving significantly to meet the needs of the current and future operational environments. Recent growth has created a need to strengthen and enhance the business line’s governance and prioritization framework as well as its Operational risk management framework (ORM) to provide the capabilities necessary to comfortably manage uncertainty and transform while always ensuring that the quality of its critical core services meets stakeholder and environmental needs.


What you will do 
Reporting to the Director – Strategy, Analysis and Systems Support and working closely with a Senior Analyst, you are responsible for providing bilingual, multi-skilled analytical insights in the areas ORM, Governance, prioritization and reporting along with the related administrative support to the business line.  The incumbent contributes actively to facilitate effective collaborative leadership and management of a business line for which sustainable business and operational risk excellence are critical success factors.


This includes facilitating steady and diligent workflows within a complex governance environment and the development and continuous evolution of standardized business & risk management practices that create efficiencies, strengthen departmental contributions and facilitate effective cross-business line dialogue and integration. 


You will:

  • Develop metrics and provide risk analysis based on those metrics.  Identify trends and ensure that risk correlation and inter-dependencies are identified.  Ensure optimal and prioritized list of mitigation measure.  Track progress, analyse impact and effectiveness of mitigation measures; provide risk-informed decision-making tools for leaders, managers and staff 
  • Provide insights and analysis in portfolio planning to ensure systemic risk reduction; partner, as required with other departments
  • Work closely with Operations in detailing risks, mitigation and exceptions in their processes
  • Adapt and introduce, when necessary, Quality management tools and metrics.
  • Ensure coordination of all essential activities leading to the successful achievement of the business line’s priorities in reducing operational risks. Prepare periodic review cycles.
  • Facilitate the development and evolution of standardized business line practices related to risk
  • Analyze, develop, recommend and implement changes to the business line’s processes and/or procedures to ensure continuous improvement in operational objectives and standards are met.
  • Provide project coordination, administrative and analytical support for the business line’s Operational Risk Management and Quality Management Programs, as well as the business line’s prioritization practice
  • Perform portfolio’s capacity analysis and provide evidence on ability to deliver on annual work plans.
  • Assist in the development of standard-setting body contributions and facilitate the triage of priorities that result from standard-setting deliberations
  • Broader work or accountabilities may be assigned as needed


What you need to succeed
You are an effective communicator with strong interpersonal, listening and analytical skills which enable you to establish credibility and respect. You build and maintain effective relationships with a variety of partners.  You can quickly analyze, distill, correlate and synthesize information.  You can develop and analyze metrics and derive trends, risks and recommendations on those.  You are well-versed in presenting information in a succinct and meaningful way.


You can:

  • understand the operational context of BOPS 
  • quickly grasp and align strategic, tactical and operational needs of BOPS
  • research existing or emerging requirements and related best practices to develop recommendations for changes 
  • operate at a team, business line, departmental and enterprise-wide level
  • serve as a specialist resource to business line leaders and stakeholders, proactively engaging them
  • integrate effective change management principles in the development and operationalization of new practices
  • builds effective relationships with stakeholders.
  • work independently and handle non-routine critical and urgent situations
  • share relevant business acumen 



  • understanding of the Bank’s functions, organization, processes and systems
  • understanding of critical operations in supporting the Canadian financial system and financial system stability
  • familiarity with the Bank’s technological environment and applications essential for banking operations
  • knowledge of global payment, clearing and settlement issues and practices
  • strong business analysis and tool development in support of effective decision-making
  • familiarity with Bank, departmental and business-line processes, procedures, policies, governing legislation, supporting systems and tools
  • strong understanding of the principles, fundamentals, objectives and risks of the business line
  • experience in the implementation of medium to large scale change management projects
  • experience in delivering presentations to leadership


Your education and experience
The position requires a bachelor`s or master`s degree along with four to eight years of experience in an analytical role providing business excellence 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 
  • There will be no relocation assistance provided
  • 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 “Analyst, Banking Operations"

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 $79,100 to $93,000 (job grade 16)
  • Depending on performance, you may be eligible for performance pay for successfully meeting (5 to 7% of your base salary) or for exceeding expectations (10% 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.