Supervisor, Risk Monitoring

2 weeks ago

Toronto, Canada Bank of Canada Full time

**Supervisor, Risk Monitoring**

**Take a central role**

The Bank of Canada has a vision to be a leading central bank—dynamic, engaged and trusted—committed to a better Canada. No other employer in the country offers you the unique opportunity to work at the very center of Canada’s economy, in an organization with significant impact on the economic and financial well-being of all Canadians. You will be challenged, energized and motivated to excel in our environment.

Building on the principles that have always guided us - excellence, integrity and respect - we strive to be forward-looking and innovative, to welcome people with diverse perspectives and talents, and to earn trust by living up to our commitments and by clearly explaining the intent of our policies and actions.

With our defined-benefit pension plan, benefits, and high flexibility for work life balance - find out more about why we are annually ranked as one of Canada's top employers: Working Here - Bank of Canada

Find out more about the next steps in our Recruitment process.

**About the Supervision Department**
The payments landscape in Canada and globally is changing rapidly. The rapid pace of technological change in Canada and around the world is introducing new and better ways for consumers and businesses to make payments.

The federal government is implementing a new Retail Payments Supervisory (RPS) Framework under the _Retail Payment Activities Act_. Under this Framework, the Bank of Canada would supervise retail payment service providers’ (PSPs) compliance with operational risk management and fund safeguarding requirements and maintain a public registry of regulated PSPs.

The Bank will assess whether PSPs are adequately managing their risks and help identify areas where their risk-management practices should be improved. To fulfill its mandate, the Bank will have a combination of tools to promote compliance including allowing the Bank to enforce regulatory requirements when necessary.

**What you will do**

Your responsibilities include:

- Assisting in the creation of assessment criteria for evaluating PSP compliance.
- Testing and refining supervisory practices for assessing PSP risk management.
- Generating internal reports to track the Bank's effectiveness and industry trends.
- Contributing to the development of supervisory training materials.

Once the Retail Payment Activities Act is enacted, as a supervisor, you'll oversee the implementation of supervisory practices outlined in the framework. This involves:

- Assessing PSPs' operational and fund safeguarding risks.
- Helping develop new processes and policies for PSP risk assessment.
- Analyzing PSP reporting, including quantitative data on their payment activities.
- Creating business documentation and information repositories.
- Collaborating with colleagues to innovate solutions.

**What you need to succeed**
You are a critical thinker, able to synthetize information and provide quality analyses. You are flexible and able to adapt to an evolving work environment and changing priorities. Furthermore, you can organize and balance a variety of tasks, and have an ability to communicate clearly. You are equally comfortable working collaboratively within a team, or independently. You develop and maintain harmonious relationships with a wide range of business contacts and build supportive working relationships with peers, your leader, and other stakeholders.

**Nice-to-have**
- experience in one (or more) of the following areas:

- Operational or cyber risk management practices;
- Safeguarding of funds and trust or custodial arrangements;
- Financial auditing or financial reporting practices;
- Insurance contract underwriting and administration
- Knowledge of retail payment service providers, the retail payments ecosystem, or financial technology companies (paytechs or fintechs).
- Experience working with data sets and data visualizations

**Your education and experience**
The position requires a bachelor's degree with four years of relevant experience in financial sector risk management or policy development, ideally with a focus on operational risk or funds safeguarding risk management policies and practices.

**What you need to know**
- Priority will be given to Canadian citizens and permanent residents
- Security level required: Be eligible to obtain Secret
- Relocation assistance may be provided, if required
- Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.

**Hybrid Work Model **#LI-Hybrid**

The Bank offers work arrangements that provide employees with flexibility, enable high-performing teams, and support an excellent workplace culture. Most employees can telework from home for a substantial part of each month as part of the Bank's hybrid work model, and they are expected on site at the Bank location a minimum of eight days per month to help build connections between colleagues. You must live in Canada, and

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