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Requisition Number:  11575
Position Type:  Permanent
Position Length:  Indeterminate
Location: 

Ottawa or Toronto, ON, CA

Remote Work:  Hybrid Model
Closing Date:  June 17, 2026 23:59 EST

Equity, Diversity & Inclusion
The Bank is committed to achieving a workforce that reflects the diversity of our country and is representative and inclusive of all Canadians regardless of race, ethnicity, colour, religion, sex, age, disability, sexual orientation, gender identity or expression, socio-economic background or lived experience. By living our values and prioritizing our actions to enhance equity, diversity and inclusion, the Bank ensures broader discussions, better decisions, and a more engaging workplace. 

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.

We invite you to join an organization where differences are seen as strengths and are recognized, valued and respected. We welcome all candidates to apply and strongly encourage candidates to self-identify if they identify with an Employment Equity designated group (Indigenous Peoples, Persons with Disabilities, Women or Racialized/Visible Minorities). 

Senior Supervisor, Risk Supervision


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. 

 

Application Process  

Your application must include the following: 

  • curriculum vitae
  • cover letter outlining why you are applying for this position and how your skills and qualifications meet the requirements for the role

 

About the Payments and Regulatory Oversight 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. Under the Retail Payment Activities Act (RPAA), the Bank of Canada is responsible for registering retail payment service providers (PSPs) that perform retail payment activities, maintaining a public registry of PSPs, and supervising PSPs’ compliance with operational risk management, fund safeguarding and reporting requirements.

 

What you will do

As a Senior Supervisor in the Risk Supervision team, you will play a crucial role in shaping the Bank’s retail payments supervisory framework in a fast-paced and dynamic environment. Being at the forefront of Canada’s rapidly evolving payments landscape, you will strengthen resilience and help protect the integrity of the payments ecosystem.

 

In this role, you will apply your knowledge of risk management practices to support the Bank’s legislated obligation to supervise retail payment service providers (PSP). You will assess PSPs’ compliance with the RPAA requirements, set supervisory expectations to strengthen PSPs’ resilience against certain risks, and select suitable supervisory action aimed to promote compliance and protect end users against financial loss.  

 

Your responsibilities will include:

  • Assessing PSPs' operational risks and vulnerabilities, measures to protect end users against financial loss, and adequacy and control effectiveness
  • Analyzing PSP reporting, including reporting of incidents and significant changes  
  • Communicating with PSPs on issues related to ongoing risk assessment activities
  • Collaborating with colleagues on supervisory actions
  • Conducting analysis and creating business documentation
  • Helping develop new processes and policies to optimize the Bank’s approach to PSP risk assessment

 

What you need to succeed

As a self-motivated critical thinker, you have experience: 

  • Supervising the risk management practices of financial institutions or financial technology firms; or  
  • Designing or developing risk management policies and practices related to the financial sector, the payments ecosystem, or financial technology firms; or
  • Applying or implementing risk management policies and practices related to the financial sector, the payments ecosystem or financial technology firms.

 

You also have knowledge of the Canadian financial system and the role of regulation and supervision in maintaining a well-functioning system.  

 

You are able to synthesize information and provide high quality analysis while considering many factors and perspectives often within contexts of ambiguity and evolving information.

 

You are flexible and able to adapt to an evolving work environment and changing priorities. Furthermore, you are able to organize and balance a variety of tasks. You have a proven ability to communicate clearly and adapt your communication style for a wide range of audiences, including senior management and external stakeholders.  

 

You are equally comfortable working collaboratively within a team, or independently. You develop and maintain harmonious relationships with a wide range of business contacts and build supportive working relationships with peers, your leader, as well as internal and external stakeholders.  

 

Nice-to-have  

  • Experience in one (or more) of the following areas:
    • Operational or cyber risk management practices;
    • Client asset protection or fund safeguarding;
    • Trust, safeguarding, or custodial account oversight;
    • Audit, assurance, or controls review
  • Knowledge of retail payment service providers, the retail payments ecosystem, or financial technology companies (paytechs or fintechs)
  • Strong interest in supervisory technology, including artificial intelligence to support efficient supervisory practices

 

Your education and experience

The position requires a master’s degree with four years of relevant experience or a minimum bachelor’s degree with six years relevant experience in financial sector risk management or policy development, ideally with a focus on operational risk or fund safeguarding risk management policies and practices. A 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.  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 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 $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.

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