Director, Enforcement

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Find out more about the next steps in our Recruitment process. 

About the Supervision Department
The payments landscape in Canada and globally is evolving rapidly, driven by technological advancements that are introducing innovative ways for consumers and businesses to make payments. In response, the Bank of Canada is implementing the Retail Payments Supervisory (RPS) Framework under the Retail Payment Activities Act (RPAA). 
 

Under this Framework, the Bank of Canada will register retail payment service providers (PSPs) that perform retail payment activities, maintain a public registry of PSPs, and supervise PSPs’ compliance with operational risk management and fund safeguarding requirements. 
 
The Bank will assess whether PSPs are managing risks effectively, identify areas for improvement, and promote compliance through a combination of compliance and enforcement tools. This includes the authority to impose administrative monetary penalties and enter into compliance agreements when necessary.

What you will do

Reporting to the Senior Director, Registration & Enforcement, you will help fulfill the Bank’s supervisory mandate under the Act by investigating potential non-compliance and recommending enforcement actions. You will contribute to the training and development of staff and support the continued development of the Bank’s approach to enforcement. 

You will work closely with a second Director of Enforcement and senior management as well as other leaders in the Supervision Department to ensure your team’s work aligns with broader supervisory priorities and departmental goals. In the course of this work, you will develop and promote strong working relationships with a variety of stakeholders, including other Bank departments and financial sector regulators.

In addition, your team will: 

• • participate in compliance promotion and engagement activities; and
  • monitor and evaluate trends or issues related to compliance and enforcement in the payment ecosystem. 

What you need to succeed 
You are an expert in financial sector regulation with a deep technical understanding of the Act and its regulations and have a strong understanding of administrative law more generally. You are able to clearly communicate complex ideas and are a self-motivated problem solver.

In addition to your technical skills, you possess key leadership competencies. You can drive a strategic vision, inspire others through your intellectual leadership, and foster growth by coaching and developing team members. You are a leader who thrives in an environment where change is constant.

Nice to have

• • Experience administering monetary penalties
  • Experience working for a regulator
  • Background in law
  • Understanding of the Canadian and global payments ecosystem

Your education and Experience
The position requires a minimum of ten years' relevant work experience with a degree in law, finance, economics, or business administration. An equivalent combination of relevant education and experience may be considered. 

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.

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 substantial part 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 eight 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 $150,707 to $177,302 (job grade 19)
  • 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.