Senior Legal Counsel, Consumer Driven Banking and Fintech

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. 

Why work at the Bank?

The Bank of Canada is the country’s central bank, with a mandate to promote the economic and financial welfare of Canada by fostering a stable and efficient financial system. In addition to its core responsibilities, the Bank has recently been given the statutory mandate to oversee the regulatory framework for consumer-driven banking (open banking) and the issuance of stablecoins. This includes developing and implementing policy frameworks, supervising designated financial sector activities, and providing trusted analysis and advice to support financial stability.

As a member of the Bank’s Legal Services team, you will contribute directly to work of national importance at the intersection of law, policy, and financial system innovation. You will play a key role in shaping emerging regulatory frameworks while collaborating with leading experts in a highly collegial and intellectually stimulating environment.

What you will do

Reporting to the Assistant General Counsel, you will provide expert legal advice as a senior legal practitioner in support of the Bank’s oversight role with respect to consumer driven banking and related digital and fintech issues including stablecoin, within the Canadian payments system. You will support policy development, regulatory design, and operational and supervisory activities involving novel payment arrangements, data portability frameworks, and emerging forms of digital money.

As a Senior Legal Counsel, you will be a primary legal advisor on complex and evolving legal issues and will work closely with senior management, and policy teams.

Specifically, you will:

• provide strategic legal advice on the development, interpretation and application of legislation, regulations, and common law principles relevant to consumer driven banking, fintech, payment systems and emerging issues in the area of digital financial services;
• support the development and operationalization of new policy and oversight frameworks, including advising on governance, regulatory, compliance, and enforcement considerations;
• advise on a range of legal issues associated with the implementation of the consumer driven banking framework and the involvement of the fintech sector in Canada’s payments systems;
• support the Bank’s legal team providing advice on the regulatory treatment of stablecoins and other payment instruments;
• advise on the Bank’s oversight of financial sector regulatory and related administrative law issues;
• engage with internal and external stakeholders to ensure that legal advice is timely, practical, and aligned with the Bank’s mandate;
• manage and oversee external legal counsel as required, including reviewing work for quality, consistency, and alignment with Bank objectives;
• contribute to the development of internal guidance, training, and legal frameworks to support the Bank’s work in emerging digital finance areas; and
• perform other legal advisory duties in support of the Bank as required.

What you need to succeed

You have expert knowledge of Canadian regulatory law, with significant exposure to banking services, payment systems and fintech, as well as the ability to provide practical legal advice to clients, whether developed in-house or in a law firm environment. You are a member in good standing of a Canadian provincial or territorial law society.

You possess strong research skills, combined with a deep interest in evolving legal issues, highly developed analytical skills and the ability to analyze and quickly grasp the essence of complex issues that have an impact on the Bank and its workforce, and to work independently to develop appropriate responses.

You understand the mandate, needs and objectives of the Bank and provide high-quality, pragmatic and focused legal advice. You also have strong verbal communication and writing skills as well as good planning and project management skills to successfully manage complex, sensitive and changing priorities while being able to adapt to unexpected circumstances.

You have strong relationship-building skills and can function both independently and as part of a team.

Nice-to-have:

• experience with consumer protection, payments system infrastructure, or digital assets;
• knowledge of privacy, data governance, or technology related contracting issues;
• experience advising a financial institution, regulator, Crown corporation, or government entity;
• familiarity with stablecoins, tokenized payment instruments, or crypto asset regulatory issues; and
• prior experience managing or coordinating the work of external counsel.

Your education and experience
This position requires a law degree with a minimum of eight years post-call experience providing legal advice in one or more of the following areas: financial regulation, administrative or regulatory law.

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.  The position language requirement is Level 5 (Fully Functional).  If a qualified candidate who meets the language requirement of the position is not found, a qualified candidate who does not meet the language requirement may be considered. Training may be provided to help reach the required level.  Both bilingual and unilingual candidates are encouraged to apply. 

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.
• The official title for this position is “Senior Legal Counsel”

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. 

• Salaries are based on qualifications and experience and typically range from $177,681 to $209,037 (job grade 20)
• 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.