Trader Analyst/Senior Trader Analyst
234 Wellington Street
Number of Positions:
October 18, 2013
November 3, 2013
Annual Salary : The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $55,399 and $99,304* (job grade P1 to P4 or 17). *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 has a mix of operational and analytical duties. Its operational duties include implementing monetary policy, managing the federal government’s cash balances and foreign exchange reserves, managing government debt in domestic and foreign currencies, and implementing liquidity operations, in both normal and exceptional circumstances. Analytical duties include close monitoring of domestic and international financial markets to support the Bank’s monetary policy, financial stability, and fiscal-agent functions. The department is active in conducting and publishing research on financial markets, with a focus on the efficiency and stability of Canadian capital markets.
The Foreign Reserves Management (FRM) team is responsible for the management of Canada’s international reserves and fixed-income portfolio. The portfolio is managed in accordance with the Currency Act, formal investment guidelines, and close consultation with the Department of Finance and the Funds Management and Banking Department. FRM also manages the government’s foreign currency liabilities used to fund the foreign exchange reserves, in accordance with the Financial Administration Act and in consultation with the Department of Finance.Instruments used by FRM traders include: • deposits, repos, other short assets and bonds • cross-currency interest rate swaps • private and public new debt issuances (commercial paper and bonds)The FRM’s other key responsibilities include active monitoring of international capital markets, providing frequent briefings on market developments to senior management and providing input into policy initiatives, primarily as they relate to foreign reserves.
• apply modern portfolio and asset-liability management theory, advise on portfolio strategy, execute fixed-income and money market trades, develop and maintain counterparty relationships, and report on portfolio activity • become familiar with related portfolio activities such as securities lending and securities custody operations• contribute to enhancements to the portfolio management and information systems• participate in the departments’ daily briefing process, quickly describe market developments, and assess their impact for policy-makers, both orally and in writing• provide frequent written and oral briefings to prepare senior management for meetings with major financial firms and international meetings
• M.B.A., M.Sc. (finance), M.A. (economics)• a minimum of one year of relevant work experience in domestic or foreign fixed income and money marketsor • an equivalent combination of education and experience may be consideredin addition:• English or French essential• 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• familiarity with, or ability to learn and use, analytic and information tools such as Bloomberg, spreadsheets, and straight-through processing systems• ability to contribute to team objectives by sharing ideas, knowledge, and feedback• ability to multi-task, maintaining accuracy and speed while meeting deadlines in co-operation with other team members• strong analytic skills, bringing a wide range of considerations and perspectives to issues and identifying ways to improve upon previous efforts • ability to develop, maintain, and evaluate external market and counterparty contacts• ability to communicate clearly, accurately, and concisely with clients, internal staff, and external market contacts, at times under pressure; ability to write and present effectively, adapting style and content to the target audience• 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 dealing with external agents
• good communication skills in both official languages• completion of, or enrolment in, CFA or similar programs• prior market experience in risk or asset management in a large financial institution• strong writing and presentation skills• prior experience in policy-related issues• strong quantitative background• strong knowledge of trading system (e.g., Findur)
• Condition of employment: Candidate must be eligible for secret clearance.• Priority will be given to Canadian citizens and permanent residents.• Relocation assistance may be provided, if required. • Key benefits offered include: health and dental care, sick leave, paid vacation, short-term and long-term disability, life insurance and defined-benefit pension plan. • 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 résumé and a covering letter by 3 November 2013. We will also ask you to complete a mandatory questionnaire during the application process.
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