Job Description

Senior Supervisor, Enforcement Division

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 .

This poster may be used to fill other Senior Supervisor positions (term or permanent) within the Supervision Department that may become available in 2024.

For permanent positions, employees will follow the Banks hybrid work model and will be expected to live within reasonable commuting distance of the office.

For term positions, employees who do not live within reasonable commuting distance of the Ottawa, Toronto, Montreal, or Vancouver office will be able to work 100% remote (within Canada) for the duration of the term. Candidates interested in a secondment or interchange are also encouraged to apply.

For additional information regarding our Remote work / Hybrid Work Model, please refer to the "what you need to know" section below.

About Supervision Department

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 Supervisory Framework under the Retail Payment Activities Act. Under this Framework, the Bank of Canada would supervise retail payment service providers\' (PSPs) compliance with operational risk management and fund safeguarding requirements and maintain a public registry of regulated PSPs.

The Bank will assess whether PSPs are complying with the Act and associated regulatory requirements, including assessing if they 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 compliance and enforcement tools and will be authorized to promote compliance and take enforcement actions, including imposing administrative monetary penalties and entering into compliance agreements.

What you will do

As a Senior Supervisor in the Enforcement Division, you will contribute to fulfilling the Bank\'s Supervisory mandate by participating in the implementation of the legislative and regulatory authorities of the Bank related to enforcement. You will assist in preparing the department to register and supervise payment service providers. Preparation will include testing the system and processes, developing operational policies, procedures, and training materials for enforcement staff. You will also help create and implement working documents for the enforcement program.

In addition, you will:

• draft and update enforcement-related guidance, education, and outreach materials;
• participate in compliance promotion and enforcement engagement activities;
• monitor and evaluate trends or issues related to the payments ecosystem and enforcement actions;
• investigate cases of potential non-compliance; and
• recommend the use of appropriate compliance and enforcement tools and actions.

What you need to succeed

You should have the desire to build (or already have) knowledge of the broader financial system, the supervision of retail payment systems with an appreciation of current issues and trends faced by individual PSPs. You should have knowledge of compliance and enforcement processes and experience dealing with a range of enforcement and investigative issues. You should also have knowledge of the relevant statutes and bodies of regulation, and guidance associated with retail payment supervision. You are able to identify discrepancies or trends in data, interpret legislation and regulations, gather and summarize information, identify solutions, and provide recommendations.

Nice to have

• Knowledge of, or experience with, supervisory frameworks that include enforcement regimes including those which include enforcement actions with administrative monetary penalties
• Experience with administrative law regimes or working with or for a regulator
• Background in law, compliance, or enforcement
• Accounting designation that is more focused on managerial accounting or audit
• A risk-oriented designation

Your education and Experience

The position requires a minimum of six (6) years relevant work experience, as well as a Bachelor\'s degree in Law, Finance, Accounting, Economics, Business Administration, an MBA, or an equivalent degree in a relevant field. 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. While this is a bilingual position, all candidates are encouraged to apply. Training may be provided to help reach the required level of fully functional (level 5) in the 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 $90,274 to $135,412 (job grade 17)
• The Bank offers an incentive for successfully meeting expectations at 7 to 10% of your base salary. The Bank offers 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