Job Description

Supervisor, Registration

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 .

Current availabilities are a mix of permanent and term vacancies. In addition to the current vacancies, this poster will also be used to fill other Supervisor positions (term or permanent) within the Supervision Department that may become available in 2023.

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

For term positions, employees who do not live within reasonable commuting distance of the Ottawa or Toronto (downtown) 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 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\' 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.

What you will do
As a Supervisor in the Registration team of the Supervision Department, you will contribute to fulfilling the Bank\'s 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 contributing to the development of operational policies, procedures, and training materials for registration staff and will draft and update guidance related to registration scope, registration process, and coordination with the key external partners.

In addition, you will:

• Apply technical expertise and knowledge of supervisory concepts, principles, practices, and methodologies aligned to the Bank\'s Supervisory Framework to lead registration activities related to PSPs or business models of smaller risk and/or lower complexity issues.
• Participate in the conduct of increasingly complex registration assessment work under the direction of the Principal/Senior Supervisor to expand breath of knowledge and diversity of registration experience.
• Analyse, and develop recommendations based on assessment of new entrants\' payment product and services, suggest policy decisions that could include change to registration scope guidance, digital currencies scope policy decisions, and recommend key messages to convey to the public or key internal and external partners to explain key concepts related to PSPs for review and use by the Principal/Director.
• Recommend to the Principal and/or Director perceived relevant issues for further review/validation, and/or transfer to the Enforcement Branch (including referral for Unregistered/Refused/revoked PSPs that still perform payment services).
• Provides support in the on-going development of information sharing agreement, education and outreach material as required.

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\'s degree in Law, Finance, Accounting, Economics, Business Administration or an MBA or an equivalent degree in a relevant field with a minimum of four 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.

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 $83,500 to $103,145 (job grade 16)
• Depending on performance, you may be eligible for performance pay. The first tier of performance pay is for successfully meeting expectation, at 5 to 7% of your base salary. The Bank offers additional performance pay for those who exceed expectations (10% 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