Analyst/Senior Analyst, Market Infrastructure Division
Financial Markets Department
234 Wellington Street
Number of Positions:
May 6, 2013
May 22, 2013
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 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 (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 Infrastructure Division (MID) conducts high-quality policy analysis and research in areas related to financial markets infrastructures, assesses related domestic and international market and regulatory developments, and provides leadership and advice in the development of policies and infrastructure to support the resilience of core markets.MID’s activities include reviewing regulations and guidelines developed by other government agencies and regulators to assess their systemic implications for the financial system as a whole, and providing analytic support for partnerships between the Bank and other domestic and international organizations so that the Bank can exercise greater influence over the development of new rules supporting the stability and efficiency of the financial system.MID participates on the Bank of Canada’s Task Force on OTC Derivatives and the Canadian inter-agency Working Group on OTC Derivatives, which is responsible for Canadian implementation of the G-20 commitment to reform OTC derivatives markets. This includes interaction with the Canadian Market Infrastructure Committee, which comprises leading banks, insurance firms and pension funds operating in Canada. MID provides analytic support to the Regulatory Heads of Agencies (which includes the Governor of the Bank of Canada, the Associate Deputy Minister of the Department of Finance, the Superintendent of Financial Institutions, and the Chairs of four provincial Securities Commissions). MID also regularly prepares briefings to senior management on market infrastructure and regulation issues ahead of meetings of the Financial Stability Board, the G-7, the G-20 and the Bank for International Settlements. MID contributes to the Bank’s Financial System Review on areas related to market infrastructure and regulation.Some specific areas of interest and responsibility in MID are: financial markets reform initiatives, including the reform of OTC derivatives markets and reform of the shadow banking system; securities markets regulation; financial market infrastructures issues, including the development and use of central counterparties and trading platforms; high-frequency trading; securities transactions taxes; fragmentation and consolidation of exchanges; market transparency; and reliance on credit ratings in market practices and regulation.
As an Analyst or Senior Analyst, you work under the direction of the Assistant Director. You conduct policy analysis and research, and you brief various stakeholders on your findings. You are involved in the development and formulation of policy advice, for example, regarding the functioning and reform of financial markets. You are also involved in the monitoring and assessment of risks and vulnerabilities to financial markets and to the financial system more broadly. In addition, you conduct longer-term analysis and applied research on topics related to the infrastructures that support financial markets. In particular, you:• produce high-quality written and oral briefings to senior management on matters related to the responsibilities of the division, and make policy recommendations • conduct high-quality analysis and/or research on subjects related to the responsibility of the division• assess financial market and regulatory developments and provide analysis of their implications for the stability and efficiency of the financial system• deliver presentations to internal and external audiences• contribute to building relationships with external parties, such as other central banks, academics, regulators and financial market participants• promote creative and analytical thinking
• master’s degree or PhD in finance or economics or• an equivalent combination of relevant work experience and education• English or French essential• ability to clearly communicate information and ideas adapted to the target audience, using clear and compelling written and oral communication skills• ability to bring a wide range of considerations and perspectives to issues and to conduct a careful analysis; demonstrated ability to conduct independent research and analysis• ability to integrate specialized and complex areas of expertise, e.g., financial market analysis, economic analysis and regulatory issues analysis• ability to work collaboratively and effectively with others within the team, across teams, with other departments and with regulatory agencies outside of the Bank• ability to motivate yourself and others to generate and implement creative solutions and novel ways to advance the Bank’s knowledge• commitment to continuous learning and self-development
• functional in second official language• completion of, or enrolment in, Chartered Financial Analyst (CFA) or similar programs• strong background in quantitative methods• existing knowledge in any of the following areas would be considered a strong asset:o financial markets, including OTC derivatives marketso the infrastructures that support markets, including regulationo the global and domestic financial sector regulatory reform landscape
• 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 22 May 2013. We will also ask you to complete a mandatory questionnaire during the application process.
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