Job Description

Director, Retail Payment Supervision Legal Affairs

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:

Find out more about the next steps in our .

Did you know?
The payments landscape in Canada and globally is changing rapidly. The rapid pace of technological change in Canada and around the world is introducing new and better ways for consumers and businesses to make payments.

The federal government is implementing a new Retail Payments Supervisory (RPS) Framework under the Retail Payment Activities Act (RPAA). Under this Framework, the Bank of Canada would register payment service providers that perform retail payment activities and supervise PSPs\' compliance with operational risk management and fund safeguarding requirements and maintain a public registry of PSPs.

The Bank will monitor and assess whether an individual or entity is a PSP and make a registration decision as to whether it is within the scope or not of the Bank. The Bank will assess whether PSPs are adequately managing their risks and help identify areas where their risk-management practices should be improved. To fulfill its mandate, the Bank will have a suite of registration, compliance and enforcement tools, will be authorized to promote compliance with the PSPs\' registration, operational risk, end-user funds safeguarding, and mandatory reporting requirements and take enforcement actions, including imposing administrative monetary penalties and entering into compliance agreements.

The Bank\'s Legal Services unit will advise and support the Bank\'s Supervision department in all aspects of its work related to registration, compliance and enforcement activities under the RPAA.

What you will do
As the Director, Retail Payment Supervision Legal Affairs, you will be responsible for leading a team of three Senior Legal Counsel and will report to the Assistant General Counsel. Your primary focus will be to provide operational leadership and oversight to the delivery of legal services core to the Bank\'s Supervision team, including Oversight, Registration and Enforcement under the RPAA. Additionally, you are responsible for the oversight of the strategic planning including development of the annual planning requirement as well as the development of strategic goals and priorities for the delivery of legal advisory and litigation services related to the RPAA.

Finally, you will contribute insight and expertise to the ongoing development of the Bank\'s Supervision Framework and related policy guidance, ensuring that legal risks are identified, particularly within the context of prospective investigations and enforcement activity.

What you need to succeed
We are looking for candidates who have experienced with managing a team of highly-skilled legal counsels and will be able to coach, mentor and provide technical and professional guidance as well as performance, expectations and meaningful feedback.

You are innovative and can successfully lead a team with diverse skill sets and responsibilities. Your ability to foster a high-performance culture and technical excellence will be critical for this team. You are succinct in communicating your findings verbally and in writing in a professional and concise manner to a broad range of audiences, including senior leadership.

As a result-driven strategic leader, you actively maintain awareness of trends and developments in all related fields including retail payments sectior and all law facets related to administrative decision-making and regulatory supervision.

You have significant experience advising on administrative law issues in a regulatory setting.

You have sound knowledge of the Canadian financial system and the related systems of regulation.

Finally, you must be able to establish and maintain a collaborative and constructive work relationship with; senior management within RPS, external stakeholders including other regulatory agencies to stay current with emerging trends and best practices associated with administrative law legal matters and with external law firms to obtain expert advice on specific matters and prospectively to represent the Bank as agents in litigation.

Nice-to-have

• Experience advising administrative law decision-makers within a regulator or administrative tribunal and managing litigation processes.
• Knowledge of business models and legal relationships common to payment service providers.

Your education and experience
The position requires a Juris Doctor or equivalent legal degree, membership in a provincial law society and a minimum of 12 years of experience in a regulatory environment. An equivalent combination of education and experience may be considered.

What you need to know

• Language requirement: English and French essential (bilingual) with a minimum starting level of functional (level 4) in second official language. Training may be provided to help reach the required level of fully functional (level 5) in second official language.
• 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 #LI-Hybrid

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 .

• Salaries are based on qualifications and experience and typically range from $146,925 to $183,655 (job grade 21)
• Depending on performance, you may be eligible for performance pay. The first tier of performance pay is for successfully meeting expectation, at 7 to 10% of your base salary. The Bank offers additional performance pay for those who exceed 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 #LI-POST

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

Bank of Canada