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Economist / Senior Economist At Bank of Canada

Location: Toronto, Ontario

Job Description

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.


About the position
The Canadian Economic Analysis Department provides high-quality economic analysis, projections and research to support the Bank’s monetary policy function. Within this department, the Regional Analysis Division conducts regional and sectoral analysis and contributes to corporate research priorities from five offices, located in Vancouver, Calgary, Toronto, Montréal and Halifax. A major activity of the division consists of conducting a quarterly industry survey and publishing the results in the Business Outlook Survey. In addition to data it obtains from public sources and the Business Outlook Survey, the Division collects data on economic conditions from associations, provincial/territorial governments and a network of industry contacts. The Division also contributes to the Bank's communications strategy by engaging with various audiences about the Bank and monetary policy.


Your future responsibilities
Under the general direction of the Regional Director, Economic Analysis, for the regional office located in Toronto (with some travel throughout the region), you participate, as a member of the Toronto regional team, in interviews with firms throughout Ontario. You analyze the qualitative findings from in-field interviews and apply statistical methods to the analysis of current and historical survey data. You also contribute to the team’s current analysis and projections related to the Ontario economy, and develop expertise in one or more industrial sectors. You carry out statistical/econometric analysis related to current economic conditions and issues and undertake longer-term research projects to advance the Bank’s corporate research priorities.

You will keep abreast of national and provincial economic trends and one or more areas within the economic research literature by actively monitoring and analyzing macroeconomic and microeconomic data, bringing these insights to your work and preparing briefing notes for Bank leadership. You will build relationships with external parties, e.g., government and international agencies, other central banks, research institutes, industry organizations, and academics, to share knowledge, research and analysis. You will participate in communication activities to ensure that the Bank’s messages on monetary policy are widely disseminated within the region. You will gather regional and sectoral perspectives on economic developments and identify new data sources. You will carry out your work in a manner consistent with the organization’s core values and support the Regional Director in fostering a climate of transparency, collaboration, excellence, and continuous improvement at the Toronto regional office and among colleagues within and outside of the Bank.


Your education and experience

  • a master’s degree in economics or finance with a minimum of two years of relevant experience in economic or financial analysis or in a field related to policy development

or

  • a PhD degree in economics or finance with an interest in institution research and policy work

or

  • an equivalent combination of education and experience may be considered

Assets

  • experience conducting research leading to presentation/publication
  • ability to apply advanced statistical/econometric techniques to economic and financial data
  • experience in modelling and programming with technical tools (e.g., MATLAB, etc.)
  • detailed knowledge of the Ontario economy, its industrial structure and its financial situation
  • familiarity with national and provincial accounts data and other publicly available data

Your knowledge and skills

  • solid understanding of core micro- and macroeconomic fundamentals
  • strong problem-solving skills and the ability to analyze complex economic and financial data
  • general knowledge of aspects of monetary policy formulation and implementation
  • ability to communicate both orally and in writing to a variety of audiences and actively participate in meetings with senior-level professionals and make public presentations to a wide range of audiences
  • ability to organize work effectively, setting priorities to ensure follow-through and project completion in a timely manner and under tight deadlines

Language requirement
English or French essential


Total Compensation


Senior Economist

  • Salaries are based on qualifications and experience and typically range from $91,662 to $120,300 (job grade 17)
  • 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.
  • Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
  • Indexed, defined-benefit pension plan

Economist
Candidates whose experience and/or educational background may not be at the level being recruited for will be considered for a position within the accelerated progression stream program. The accelerated progression stream is for economists and financial sector specialists and is defined by four levels P1 to P4. The program where the employees acquire the skills over a number of years to reach the working level of a Senior Economist/Senior Analyst at the job grade 17.


  • Salaries are based on qualifications and experience and typically range from $76,544 to $91,661 (job grade P3-P4).
  • During the progression, you are not eligible for performance pay given that performance is rewarded via a faster rate of progression through the salary range.
  • Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
  • Indexed, defined-benefit pension plan

For more information on key benefits, please visit www.bankofcanada.ca/careers/working-here.

Additional information

  • Priority will be given to Canadian citizens and permanent residents
  • Security level required: Reliability
  • Relocation assistance may be provided, if required