Principal Researcher, Research Division
City, Province, Country:
Ottawa, Ontario, Canada
Number of Positions:
May 10, 2012
May 27, 2012
Salary Range (annual salary): The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $89,345 and $111,681* (job grade 18).*Where the Bank requires specialized skills, it may offer higher starting salaries to exceptional candidates.
Canada's central bank is the nation's pre-eminent macroeconomic policy institution. No other employer in the country offers you the unique opportunity to work at the very centre of Canada's economy, in an organization with significant impact on the economic and financial well-being of all Canadians. No matter what your area of expertise, you'll enjoy an open culture and a superior work environment that will challenge, energize, and motivate you to excel. (More info)
The Funds Management and Banking Department (FBD) oversees the funding and investment of Canada’s foreign exchange reserves, the management of the federal government’s wholesale and retail debt programs, and the investment of the Bank of Canada’s pension fund. FBD also manages the financial risk associated with these funds-management activities and provides back-office payment and settlement services to the federal government, foreign central banks, and key national and international payments organizations. Finally, the department is responsible for recommendations to the Department of Finance on the policies and strategic direction for the Bank of Canada’s funds-management activities.The Research Division undertakes research and analysis relevant to payment, clearing and settlement systems (PCSS) and funds management. The main activities of the team are to:•Conduct economic research and analysis on PCSS to better understand the behaviour of participants, system interlinkages, and system configurations, focusing on the implications for safety and efficiency. •Conduct a funds-management research program, including portfolio optimization for the government’s domestic debt and foreign reserve portfolios and applied yield curve modelling.
As Principal Researcher, you: (i) work under the general direction of the Research Director; (ii) initiate, lead and conduct economic research in the funds-management area; (iii) develop economic models in support of the funds-management activities of the department; (iv) provide policy advice on fundamental funds-management issues; (v) participate in management of the division, helping the Research Director to ensure that the division’s work plan objectives are achieved; (vi) coach and collaborate with other economists in the department; and (vii) contribute to a supportive and collegial environment that attracts, develops and retains staff and motivates them to achieve excellence in economic analysis.
•lead the modelling work in support of the funds-management activities of the department, namely the management of the Exchange Fund Account•provide expert advice to senior management and to the Department of Finance•work in conjunction with the Research Director to provide leadership to research economists in the funds-management area, coaching them as needed and, more generally, ensuring high-quality work•initiate, lead and conduct research on topics or questions identified in the work plan or requested by Bank management, and disseminate research outcomes both inside and outside the Bank •provide leadership by anticipating issues and contributing to the development of the work plan •build relationships and work collaboratively with external parties •represent the department on Bank-wide committees
•PhD in economics or finance with at least two years of work experience conducting economic research and analysis in finance or funds managementin addition•English and French essential•linguistic requirement: minimum starting level 3 – intermediate in second official language (training will be provided to help the selected candidate reach the required level − functional)•good knowledge of finance and macroeconomics •expertise in term-structure modelling and portfolio theory•working knowledge of MATLAB•strong interpersonal, coaching and communication skills, both oral and written, including the capacity to edit and improve the clarity and analytic content of the work of other staff•promote integration and co-operation across divisions and departments, and communicate and work effectively with Bank management•flexibility in carrying out a number of different tasks and to work under significant pressure and very tight deadlines
•functional in second official language•experience in developing and using portfolio allocation models for the purpose of policy advice•familiarity with the funds-management activities of the Bank of Canada•ability to conduct research projects on relevant policy issues, and to publish them in Bank and external publications
If you are a qualified candidate, please submit a detailed resumé and a covering letter by 27 May 2012. We will also ask you to complete a mandatory questionnaire during the application process.Notes •Condition of employment: Candidates must be eligible for reliability status security clearance.•Relocation assistance may be provided, if required.•We are committed to employment equity and we encourage applications from qualified men and women, including Aboriginal peoples, persons with disabilities and members of visible minorities. •Only the candidates selected for an interview will be contacted
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