Principal Researcher

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Requisition #:  J0713-0805

Position Title:  Principal Researcher

Department:  Canadian Economic Analysis department

Employment Type:  Full-time

Position Type:  Regular

Location:  234 Wellington Street

City, Province:  Ottawa, Ontario

Country:  Canada

Job Category:  Economics

Number of Positions:  0

Date Posted:  July 26, 2013

Closing Date:  August 19, 2013

Salary Range:

(annual salary): The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $90,685 and $137,460* (position grade 18 or 19).
*Where the Bank has needs for specialized skills, it may offer higher starting salaries to exceptional candidates.

Take a Central Role at the Bank of Canada:

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)

Department info:

The Canadian Economic Analysis (CEA) Department provides high-quality economic analysis, projections and research that contribute primarily to the Bank of Canada’s monetary policy function. The department also conducts longer-term research into issues relevant to monetary policy. CEA plays an active role in the communication of monetary policy and as external liaison with the academic community, other central banks, international organizations, Canadian businesses and the Canadian public. The department also disseminates its research at seminars and conferences, as well as through working papers and economic journals.

Within CEA, the Canadian Projection and Policy Analysis (CPPA) division analyzes economic developments in Canada, assesses their impact on the outlook for inflation and real economic activity, and provides a recommendation to Bank management for the setting of monetary policy. In deriving its recommendations, CPPA is responsible for identifying and quantifying key risks to the economic outlook. In conjunction with other divisions, CPPA also contributes to the development of models and other research tools that it finds useful to complete its tasks.

CPPA consists of two sections: the Current Analysis section and the Projection section. One position will be for the Current Analysis section (position grade 18) and the other for the Projection section (position grade 18 or 19).

Job Summary

Under the general direction of the Assistant Chiefs of the division, you play a key role in providing analysis and policy advice on fundamental monetary policy issues and initiate, lead and conduct economic research. You substitute for the Assistant Chiefs, when required, and participate in the management of the division by ensuring that the work plan objectives are achieved. You also coach and collaborate with other economists in the department, and contribute to a supportive and collegial environment that attracts, develops and retains staff and motivates them to achieve excellence in economic analysis.

Central Responsibilities:

• prepare analytical notes for Governing Council in advance of the fixed announcement dates, respond to requests from senior management and other departments, and support the production of the Monetary Policy Report
• provide advice to colleagues and Bank management within related subject-matter expertise
• develop and maintain tools to meet the Bank's monetary policy needs (projection tools and short-term forecasting tools)
• initiate, lead and conduct research/analysis on topics or questions identified in the work plan or requested by Bank management
• use interpersonal and communication skills to work collaboratively and effectively with counterparts internal and external to the Bank and to present to various audiences as necessary
• provide leadership by anticipating issues and contributing to the work plan development
• provide constructive feedback and coaching to more junior members within the division
• maintain and build relationships with external parties, e.g., government agencies, other central banks and international organizations, and outside academics, for the purpose of sharing knowledge, expertise and understanding

Specifically in Current Analysis:
• supervise and participate in analysis to assess implications of current economic development for Canada
• be responsible for forecasting/nowcasting Canada real GDP growth in the short run

Specifically in Projection:
• supervise and participate in staff projections and policy analyses for the Canadian economy, respecting the timeline of the fixed action dates (quarterly projection exercise, risk analyses, drafting of documents)
• develop and maintain a framework for assessing risks and uncertainty around the staff outlook
• present the Canadian projection and updates to Governing Council

Key Requirements:

• PhD in economics with at least two years of work experience in macroeconomics, econometrics or modelling


• master's degree in economics with at least five years of work experience in macroeconomics, econometrics or modelling

in addition:

• English and French essential
• linguistic requirement (minimum starting level): level 3 – intermediate in second official language (training will be provided to help the selected candidate reach the required level of 4 – functional)
• ability to conduct insightful economic analysis and develop sound policy advice:
o ability to analyze complex economic issues, diagnose multi-dimensional problems and devise appropriate responses or strategies
o ability to see the "big picture," identify trends when analyzing information and use learned concepts when problem-solving
• ability to form a balanced judgment and assess risks with respect to the economic conjuncture, based on a comprehensive set of indicators and model forecasts
• 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
• experience in developing and using models for the purpose of monetary policy analysis
• ability to promote integration and co-operation across divisions and departments, and communicate and work effectively with Bank management
• ability to take action under pressure and to manage own time and priorities effectively to ensure that projects are completed in a timely manner; flexibility in carrying out a number of different tasks


• fully functional in second official language
• good knowledge of monetary policy and structural issues
• knowledge of Canadian data sources and concepts, particularly the national accounts system
• experience making presentations to senior management
• working knowledge MATLAB, EViews and Microsoft Office


• Condition of employment: Candidate must be eligible for reliability status 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 resumι and a covering letter by 19 August 2013. We will also ask you to complete a mandatory questionnaire during the application process.

Sorry, this job is no longer available.

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