Principal Trader/Analyst, Market Analysis and Operations
Financial Markets Department
234 Wellington Street
Number of Positions:
April 25, 2013
May 8, 2013
The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $90,685 and $113,356* (job grade 18). *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 Financial Markets Department (FMD) is aligned with the financial system function of the Bank of Canada. The department provides analysis, policy advice and research on a wide range of topics in support of the goal of promoting the safety and efficiency of the overall financial system both domestically and internationally. FMD also contributes to the monetary policy and funds management functions. In coordination with the Funds Management and Banking Department, FMD contributes to the overall management of Government of Canada financial assets and market debt, and executes the transactions that the Bank undertakes on behalf of the Government of Canada in Canadian-dollar and foreign-currency-denominated markets. Finally, the department advises on and implements monetary policy, and provides liquidity to the financial system, through a range of operations.The Market Analysis and Operations (MAO) team within FMD is responsible for day-to-day coverage and ongoing analysis of domestic and global fixed-income, foreign exchange, credit, commodity, equity and emerging markets; providing frequent briefings on market developments to senior management; providing oversight during auctions of Government of Canada treasury bills and bonds; conducting market transactions as necessary for domestic market or foreign exchange intervention, hedging and client requirements; and providing advice for the formulation and implementation of monetary policy.
• have responsibility for a wide range of analytical and operational tasks• provide leadership to a team that is responsible for conducting all of the Bank’s open market operations, including securities lending, overseeing the Government of Canada bond and treasury bill auctions and buybacks, as well as conducting the Bank’s foreign exchange operations• execute fixed-income and money market trades, develop and maintain counterparty relationships, and report on market activity• participate in the department’s daily briefing process, describing market developments and assessing their impact, both orally and in writing• prepare briefings (written and oral) to senior management for meetings with major financial firms, as well as for various international forums• contribute to the debate on Canadian monetary policy and its impact on the financial markets• provide leadership to the team• provide support in the surveillance of trading activities and coach others• work in the open trading room environment, multi-task, prioritize and work under tight deadlines • support the Assistant Director in ensuring that the team’s outputs are of the highest quality, that deadlines are met, that operational risks are minimized, and that the team is effective in implementing its work plan, consistent with the department’s priorities
• master’s degree in economics, finance, or business administration (MBA) • a minimum of five years of relevant work experience in domestic or international fixed income and money markets or• an equivalent combination of education and relevant experience may be consideredin addition:• English and French essential• linguistic requirement: intermediate in second official language (training will be provided to help the selected candidate reach the required level of functional)• ability to integrate in-depth knowledge and understanding in financial market analysis, monetary policy analysis, economic analysis and regulatory issues analysis, including an understanding of Canadian financial market instruments• knowledge of the Bank's fiscal-agent responsibilities and monetary policy and implementation techniques• knowledge of financial market issues and developments, as well as knowledge of economic/financial theory and quantitative methods• ability to develop and maintain external market and counterparty contacts• high level of initiative and proactiveness• familiarity with analytic and information systems tools such as Bloomberg, Reuters, Excel spreadsheets and straight-through processing systems• ability to exchange information and ideas adapted to the target audience, using clear and compelling written and oral communication skills• capacity to work collaboratively with others within the team, across teams and with other departments, to pass on knowledge and to build supportive working relationships to deliver on commitments and lead projects effectively• strong writing and presentation skills• ability to multi-task and to maintain accuracy and speed while meeting deadlines in co-operation with other team members• ability to lead by example, coach and assume the role of mentor for the development of more junior staff• ability to bring a wide range of considerations and perspectives to issues and to ensure that careful analysis is a precondition of decision making• commitment to learning and self-development; capacity to continuously seek to build on knowledge of portfolio-management practices and of financial markets and to recognize what others have done, learning from their experience• ability to maintain high ethical and professional standards in dealings with all internal and external stakeholders
• functional in second official language• completion of, or enrolment in, CFA or similar programs• prior market experience in risk or asset management in a large financial institution• prior experience in policy-related issues• strong background in quantitative methods
• Condition of employment: Candidate must be eligible for secret clearance.• Priority will be given to candidates who are legally entitled to work in Canada.• Relocation assistance may be provided, if required.• Only the candidates selected for an interview will be contacted.• The Bank of Canada benefits from the unique perspectives, attributes and talents of its diverse workforce. We offer flexibility to accommodate the needs of our employees and candidates. The Bank of Canada is committed to employment equity and actively encourages applications from qualified men and women, including Aboriginal peoples, persons with disabilities, and members of visible minorities.If you are a qualified candidate, please submit a detailed resumé and a covering letter by 8 May 2013. We will also ask you to complete a mandatory questionnaire during the application process.
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