Job Description

Senior Supervisor, Registration

Take a central role

The Bank of Canada has a vision to be a leading central bank\xe2\x80\x94dynamic, engaged and trusted\xe2\x80\x94committed to a better Canada. No other employer in the country offers you the unique opportunity to work at the very center of Canada\xe2\x80\x99s 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 \xe2\x80\x93 excellence, integrity and respect \xe2\x80\x93 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 .

About Retail Payments Supervision

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. Under this Framework, the Bank of Canada will register payment service providers that perform retail payment activities and supervise PSPs\xe2\x80\x99 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\xe2\x80\x99 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.

What you will do
As the Senior Supervisor, in the Registration function of the Supervision Department, you will contribute to fulfilling the Bank\xe2\x80\x99s RPS regulatory mandate by participating in the design, implementation, review, and assessment of the legislative and regulatory authorities of the Bank related to registration. You will be the lead in developing and updating operational policies, procedures, and training materials for registration staff. You will also be responsible for drafting and updating guidance for PSP\xe2\x80\x99s related to registration scope, registration process, and coordination with key external partners.

In addition, you will:

• review registration applications/cases, and make recommendations
• monitor unregistered, refused, and revoked PSPs
• lead the assessment of different business structures for mergers, acquisitions, and other changes of control
• lead and participate in registration promotion activities
• monitor and evaluate trends and issues related to the payment ecosystem (e.g., scope issues, including quantitative and qualitative data assessment and provide preliminary conclusions to feed recommendations for legislative, regulatory, guidance, or operational policy amendments)
• be responsible for the development and maintenance of memoranda of understanding with key external partners
• assess registration reporting and renewals

What you need
You should have the desire to build (or already have) your knowledge of the broader financial system and the supervision of retail payment systems with an appreciation of current issues/trends faced by individual PSPs. You should have the knowledge of the relevant Acts, and bodies of regulation and guidance associated with retail payment supervision and experience dealing with a range of issues. You are able to identify and analyse issues, determine benefits and drawbacks, identify solutions, and provide recommendations.

Nice to have

• Knowledge of, or experience with, supervisory frameworks that include registration/licensing/authorization/merger, acquisition, or control assessment regimes
• Experience with administrative law regimes or working for a regulator, a PSP, or in a relevant field
• Background in law, compliance, policy development, or registration
• Accounting designation focused on managerial accounting or audit
• A risk-oriented designation

Your education and Experience
The position requires a Bachelor\xe2\x80\x99s degree in Law, Finance, Accounting, Economics, Business Administration or an MBA or an equivalent degree in a relevant field with a minimum of six years experience. 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. In the event that a qualified candidate, who meets the language requirements, is not identified, a qualified candidate who does not meet the language requirements of the position may be considered. (Training will be provided to help reach the required level of fully functional (level 5) in second official language). Both bilingual and unilingual candidates are encouraged to apply.
• 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.

Remote work / Hybrid Work Model #LI-Remote

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. For this position, should you not live within reasonable commuting distance of the office, you will be able to work 100% remote (within Canada) for the duration of this term.

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

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 $88,505 to $132,756 (job grade 17)
• 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 and dental coverage that meets your needs
• Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
• Option to join the indexed, defined-benefit pension plan after 24 consecutive months of service #LI-POS

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

Bank of Canada