Formulation scientist Jobs in Ottawa, ON

Senior Data Scientist - Financial Markets

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.

What you need to know

We are seeking an experienced Senior Data Scientist to lead the design, development, and deployment of advanced data science and machine learning solutions within the Financial Markets Data Analytics (FMDA) division of the Markets and Banking Department (MBD).

FMDA works with a broad range of data assets, including data from commercial providers, regulatory agencies, and internally generated operations data. The team automates data pipelines, curates and transforms data, develops and maintains statistical and machine learning models, and provides templates, utilities, and best practices leveraged by other teams for monitoring, analysis, and reporting. FMDA also provides specialized financial modelling expertise in support of the Bank’s fiscal agent responsibilities and domestic market operations. Solutions are user focused, developed using agile principles, and delivered through close collaboration with financial market specialists and digital and technology partners.

What you will do

In this role, you will:

• Lead the development, fine-tuning, and deployment of advanced machine learning and analytical models using structured and unstructured financial market data
• Design, build, and maintain scalable, production-grade data science pipelines, from data ingestion and feature engineering to model deployment and monitoring
• Oversee model performance and manage the end-to-end model lifecycle in alignment with internal model risk management standards
• Provide expert guidance on data science methodologies, tools, and best practices, and collaborate with domain experts to drive adoption across the department
• Mentor and support data scientists and analysts, contributing to capability building and knowledge sharing within the team
• Monitor emerging data science trends and assess their relevance to departmental priorities and use cases

What you need to succeed

This role is suited to an experienced data science professional with strong technical expertise and the ability to lead complex, high-impact initiatives that support decision-making in financial market operations and policy activities. You bring deep advanced modelling expertise, hands-on implementation experience, and strong collaboration skills, with a proven ability to translate data into actionable insights.

You also have:

• Significant experience delivering data science solutions in complex, data-rich environments, ideally within financial markets or policy analysis contexts
• Proven expertise applying NLP/NLU techniques to financial market or economic data (e.g., news, corporate filings, communications)
• Demonstrated ability to lead analytical initiatives and provide expert guidance on model design, methodology, and implementation
• Strong experience collaborating with diverse stakeholders to translate business needs into effective analytical solutions
• Excellent communication skills with the ability to convey complex technical concepts to both technical and non-technical audience
• Proven ability to operate effectively in a dynamic environment with evolving priorities
• Advanced programming skills in Python, R, or similar languages, with experience using modern data science libraries and frameworks
• Strong foundation in statistics, machine learning, and data engineering principles
• Demonstrated application of software engineering best practices, including version control, testing, and reproducibility
• Experience working with distributed data processing frameworks and cloud-based analytics platforms (e.g., Microsoft Azure, Databricks, Fabric)
• Hands-on experience deploying and operating machine learning models in production environments, including monitoring, maintenance, and lifecycle management (MLOps)

Nice to have

• Knowledge of financial markets, asset classes, or trading and risk systems

Your education and experience

This position requires a graduate degree (master’s or PhD) in computer science, mathematics, statistics, engineering, finance, economics, or a related quantitative discipline along with five (5) years of relevant experience. An equivalent combination of education and experience may also be considered.

Innovative Mindset
We value candidates who demonstrate adaptability, curiosity, and a willingness to learn new technologies, including AI and digital tools. We seek individuals who can think critically about data, question existing processes, and find ways to simplify our work while embracing change and new ways of doing things.

Language requirement

The Bank’s work environment is conducive to the use of both of Canada’s official languages - English and French. Although the position language requirement is English or French essential, we do encourage everyone to improve their second language proficiency for future career growth and to contribute towards fostering a bilingual environment.

What you need to know

• Priority will be given to Canadian citizens and permanent residents
• Security level required: Be eligible to obtain Reliability
• 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.
• The official title for this position is “Senior Data Scientist”

Hybrid Work Model
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 portion 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 12 days per month to help build connections between colleagues. You must live in Canada, and within reasonable commuting distance of the office.

What you can expect from us
This is a great opportunity to join a leading organization and be part of a high-performing team. We offer a competitive compensation and benefits package designed to meet your needs at every stage of your life and career. For more information on key benefits please visit A great deal to consider.

• Salaries are based on qualifications and experience and typically range from $111,051 to $130,649 (job grade 17)
• The Bank offers an incentive for successfully meeting expectations at 7 to 10% of your base salary. The Bank offers additional performance pay (5%) for those who exceed expectations. Exceptional performers who far exceed expectations may be eligible for higher performance pay.
• Flexible and comprehensive benefits so you can choose the level of health, dental disability and life and/or accident insurance coverage that meets your needs
• Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
• Indexed, defined-benefit pension

We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.