Analyst - Financial Sector

Analyst - Financial Sector

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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 this role
Within the Financial and Enterprise Risk (FER) department, the Market and Credit Risk Office (MACRO) provides independent oversight, analysis and advice on financial risks arising from the Bank's monetary policy and financial stability activities, as well as risks associated with the Bank's balance sheet and pension fund. The team supports risk-informed decision-making through financial risk monitoring, balance sheet analysis, the development of risk-management frameworks and climate-related financial reporting.

MACRO also delivers independent in-house credit risk assessments and advice through its Credit Risk function, evaluating the risk profile of assets and other financial exposures, including those related to sovereigns, agencies, supranational organizations and financial institutions. These assessments support the assignment of internal credit ratings through the Credit Rating Committees and contribute to the management of Canada's foreign exchange reserves and Receiver General cash balances.

The FER department is currently seeking an FSS Analyst for the Credit Risk function within MACRO.

This position offers the opportunity to contribute directly to the independent assessment and oversight of risks associated with Canada's foreign exchange reserves and the Bank's balance sheet. While primarily supporting the Credit Risk function, the successful candidate may also have opportunities to broaden their expertise through exposure to market risk activities, depending on business and operational needs.

This role offers a unique opportunity to apply credit risk expertise in support of a public policy institution and contribute to the management of some of Canada's most important financial assets and risk exposures.

What you will do
You will undertake fundamental credit analysis of trading and investment counterparties related to management of foreign exchange reserves and Receiver General cash balances. You will present and defend your assessments before Credit Rating Committees and provide independent credit risk advice to support decision-making by FER senior management and key stakeholders. You will contribute to the continuous enhancement of internal credit risk methodologies, collaborate across teams on research initiatives and risk assessments, and actively support the Bank’s risk culture. You will also contribute to the identification and development of technology-enabled solutions to improve risk-management practices and processes.

Other responsibilities of the broad MACRO team include:

• Developing and maintaining internal credit risk assessment methodologies for trading and investment counterparties of the Bank of Canada/Government of Canada
• Monitoring economic and financial developments relevant to credit and financial risk exposures
• Conducting analysis and research to diagnose multi-dimensional problems and devise appropriate strategies on risk-management topics
• Supporting the development and implementation of risk-management frameworks
• Contributing to cross-functional initiatives that strengthen risk assessment, reporting and decision-making

What you need to succeed
You have a solid understanding of risk-management practices and techniques, finance theory, macroeconomics, and fixed-income financial market instruments. You are committed to learning and self-development. You are intellectually curious and seek innovative solutions to complex problems, helping to strengthen the Bank’s risk-management culture. You can develop positive working relationships to help deliver on a variety of commitments, provide insightful feedback for your teammates and value a diversity of ideas. Lastly, you have a proven track record of communicating clearly and adapting your communication style (both written and oral) for a broad range of audiences, including senior management and external partners.

Nice-to-have

• A completed professional designation, e.g., Chartered Financial Analyst (CFA), Financial Risk Manager (FRM)
• Knowledge of credit risk assessments beyond financial institutions and sovereigns (e.g., multilateral development banks, corporates, pension funds, asset managers, ABS, ABCP, RMBS, etc.)
• Proficiency with analytical

Your education and experience
This position requires a completed master’s degree in finance, Economics, or a relevant field of study. An equivalent combination of education, professional designation and experience may also be considered. Candidates should have experience in risk management, portfolio management/trading, or related areas of financial markets in a private or public sector institution

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
• 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 “FSS Analyst ”

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.

FSS Analyst

• Candidates whose experience and/or educational background may not be at the level being recruited for will be considered for a position within the accelerated progression stream program. The accelerated progression stream is for economists and financial sector specialists and is defined by four levels P1 to P4. In this program the employees acquire the skills over a number of years to reach the working level of a Senior Economist/Senior Analyst at the job grade 17.
• Salaries are based on qualifications and experience and typically range from $78,389 to $93,305 (job grade P1-P2).
• During the progression, you are not eligible for performance pay. Instead performance is rewarded via a faster rate of progression through the salary range.

Additional benefit information:

• 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 plan

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