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Policy Advisor, Model Development At Bank of Canada

Location: Ottawa, 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.


Did you know?
As the Government of Canada’s fiscal agent, the Bank provides advice to the Department of Finance for the management of the Government’s debt and foreign reserves and conducts the associated financial transactions on its behalf. The Government plans to borrow $280 billion in fiscal year 2019-20 and its foreign reserves presently stand at about US$84 billion.


About the position
Reporting directly to the Deputy Managing Director of the Funds Management and Banking Department (FBD), you lead the development of financial models to support the formulation of strategies for the funding and management of Canada’s foreign reserves, the issuance of the Government of Canada’s domestic debt and the management of the investment portfolio for the Bank of Canada employee pension fund.


This involves conducting analysis as an individual contributor as well as providing authoritative advice to colleagues and management. It also includes building a broad range of collaborative relationships internally and externally to stay abreast of relevant financial developments and influence others to support the work of the Bank.


As Policy Advisor, you are a member of FBD’s leadership team and are recognized for your deep specialized expertise in financial markets and related funds management areas and for your leadership competencies.


Your future responsibilities
You lead the development of recommendations for a multi-year strategy for financial models in FBD and coordinate and participate in critical projects and studies related to its implementation. Particular areas of focus are to (i) enhance FBD’s suite of models by revisiting the theoretical underpinnings and assumptions in our models, and (ii) to ensure that our models meet the Bank’s standards for managing model risk.


In addition to your primary responsibilities associated with modelling, you may be asked to participate in the formulation of funds management strategies depending on your interest and the Department’s business needs.


You present findings to a wide variety of internal and external audiences and work closely with Senior Officers, Directors and their teams of Economists and Financial Sector Specialists who are involved in research and funds-management-related activities throughout FBD and the Financial Markets and Financial and Enterprise Risk Departments. You are also responsible for leading and coordinating regular discussions across teams and departments.


Your education and experience

  • master's degree or PhD in economics, finance or an equivalent discipline

and

  • a minimum of seven years of work experience in economic or financial analysis and policy advice

or

  • an equivalent combination of education and experience may be considered

Your knowledge and skills

  • demonstrated ability to think strategically, to provide intellectual leadership and to influence others
  • expertise in financial modelling
  • in-depth knowledge of sound model management best practices
  • in-depth knowledge of financial markets and funds management issues
  • knowledge of the Bank’s fiscal agent role with respect to the management of the Government of Canada’s domestic debt and foreign reserves
  • demonstrated ability to develop sound advice in various funds management areas
  • strong writing and presentation skills
  • strong interpersonal, coaching and communication skills, including the ability to lead and work collaboratively within a team, promote integration and co-operation across teams and departments, communicate and work effectively with Bank management and with internal and external stakeholders

Assets

  • experience participating in international or domestic inter-agency committees or working groups
  • experience participating in investment committees, risk committees or other similar financial decision-making bodies
  • FRM, CFA or other relevant professional designation

Language requirement
English and French essential (bilingual) with a minimum starting level of intermediate (level 3) in second official language. Training may be provided to help reach the required level of functional (level 4) in second official language.


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.

  • Salaries are based on qualifications and experience and typically range from $134,800 to $166,500 (job grade 19)
  • 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.
  • 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

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: Secret
  • Relocation assistance may be provided, if required

We wish to thank all applicants for their interest and effort in applying for this position; however, only candidates selected for interviews will be contacted.