City, Province, Country:
Ottawa, Ontario, Canada
Number of Positions:
March 29, 2012
April 15, 2012
(annual): The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $103,090 and $128,863* (job grade 20). *Where the Bank has needs for 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. As well, the department undertakes fundamental research on the safety and efficiency of payments and settlement systems to support its funds-management activities. 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 Payment and Settlement Operations (PSO) Team provides the settlement services mentioned above, including standing liquidity facilities and collateral administration to direct participants of the Large Value Transfer System (LVTS) and the Automated Clearing Settlement System (ACSS). Payment and settlement services are also provided in support of the Canadian Depository for Securities Exchange (CDSX), the Continuous Linked Settlement (CLS) Bank, the Canadian Derivatives Clearing Corporation (CDCC) and the Bank Note Distribution System (BNDS). PSO provides payment and securities services to a number of other clients, including the Government of Canada, foreign central banks, selected foreign and financial organizations and other departments in the Bank. The team also provides business expertise and analytical support to various related external and internal committees and initiatives. Finally, the team manages a registry service. This includes the provision of Bank Act Security Registration services (the operation of the registry is currently outsourced) and the management of a registry relating to the Market Bond Debt Certificate reserve.
As the Assistant Director/Agent of PSO, you lead a team of approximately 35 people, who carry out critical operations as described above. The team’s primary focus is on meeting extremely high standards for continuity, reliability and integrity of operations in an area where suboptimal performance could have serious implications for the reputation of the Bank, as well as financial consequences for the Bank or other participants in the payments system. Operations are time-critical, are composed of multiple deadlines and are carried out throughout a 20-hour working day from two locations. Consequently, the management of operational risk and contingency planning is highly important. At the same time, there are demands on the team to provide subject-matter expertise to other initiatives that are important to the financial system and funds-management objectives of the department and of the Bank. These initiatives can take the form of co-operation with internal partners in analytical projects, committee work and through participation with external partners and stakeholders in the payment, clearing and settlement systems.You are responsible for the effective overall operation of the team. You must be able to direct normal operations, to respond effectively in managing operational events or crises, and to provide guidance on both operational and analytic matters pertaining to the team. You are assisted by four operations managers and a senior operations specialist. A review was recently conducted in the business line to identify ways of improving the ability to deliver business objectives. The changes are in the process of being implemented. You report to the Director of Banking Operations and work closely with other teams within the department, such as the Business Development and Centre of Excellence Team and the Financial Risk Office. You also maintain close working relationships with other Bank departments, such as Financial Markets, Financial Services, Financial Stability and IT Services, as well as with external clients and stakeholders, such as the Office of the Receiver General for Canada, financial institutions and clearing organizations.
• participate in the strategic planning process and develop the team’s objectives and business plans supporting the strategic direction• plan, establish priorities, delegate and monitor work to achieve the team’s annual objectives, assigning resources and ensuring the co-operation of other organizational units, as required• oversee operations and represent the business line in the financial community• create a healthy work environment and build employee capability, thereby contributing to the long-term success of the team• coach and guide operational, managerial and analytic staff• over the course of the next year, take a particular interest in making sure that the changes identified in the review of the business line are clearly communicated, understood and implemented to ensure the continued success of your team in delivering its objectives
• a minimum of a bachelor’s degree in business, finance, public administration or a related field• seven years of related work experience with increasing levels of management responsibilities, including a minimum of three years of work experience managing a teamor• an equivalent combination of education and experiencein addition• English and French essential• functional in second official language (when applicable, training will be provided to help the selected candidate reach the required level)• experience in the operational areas of banking and/or finance• knowledge of payment, clearing, and settlement issues and practices• ability to direct and monitor an operational environment• ability to distill and synthesize business issues and guide others toward effective solutions• ability to build and maintain effective relationships with internal and external partners• solid interpersonal, listening and negotiating skills, and the ability to establish credibility and respect• sound analysis and judgment• strong communication skills, both oral and written
• fully functional in second official language • understanding of the Bank’s functions, organization, processes and systems• familiarity with the Bank’s technological environment and computerized applications
If you are a qualified candidate, please submit a detailed resumé and a covering letter by 15 April 2012. We will also ask you to complete a mandatory questionnaire during the application process.• This position is being posted internally and externally on a concurrent basis.• Condition of employment: Candidate must be eligible for secret security clearance.• Relocation assistance may be provided, if required. • The work schedule is 37.5 hours per week. Availability to work until 19:30 one night per week may be required. On-call work might be shared with the other Operations Managers.• 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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