Supervisor, Retail Payments Supervision

Supervisor, Retail Payments Supervision

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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.

In addition to the position being staffed, this competition may be used to fill similar opportunities (Regular or Term) that become available at the same job grade. If you’re interested in this type of role, we encourage you to apply.

This poster may be used to fill Supervisor positions in Registration, Risk Supervision and Enforcement within the Retail Payments Supervision mandate.

To apply you do not need experience in all three areas.

About the Supervision Department
The payments landscape in Canada and globally is evolving rapidly, driven by technological advancements that are introducing innovative ways for consumers and businesses to make payments. Under the Retail Payment Activities Act (RPAA), the Bank of Canada is responsible for registering retail payment service providers (PSPs) that perform retail payment activities, maintaining a public registry of PSPs, and supervising PSPs’ compliance with operational risk management, fund safeguarding and reporting requirements.

The Bank assesses whether PSPs are managing risks effectively, identifies areas for improvement, and promotes compliance through a range of supervisory, compliance and enforcement tools. These positions will support the ongoing implementation and continuous improvement of the Retail Payments Supervisory Framework.

What you will do
As a Supervisor within Retail Payments Supervision, you will contribute to fulfilling the Bank’s regulatory mandate by supporting work across one or more areas of Registration, Risk Supervision and Enforcement. You will apply supervisory judgment, strong analysis and sound recommendations to help implement the Bank’s legislative and regulatory authorities under the RPAA.

Depending on the area of focus, you may assess registration applications and scope questions, evaluate PSPs’ operational risk and fund safeguarding practices, review PSP reporting and incidents, investigate potential non-compliance, or support the use of appropriate supervisory, compliance and enforcement tools. You will also contribute to policies, procedures, guidance, training materials and process improvements that strengthen the Bank’s approach to supervising PSPs.

• Apply technical expertise and knowledge of supervisory concepts, principles, practices and methodologies aligned to the Bank’s Supervisory Framework.
• Analyze complex information, identify issues and trends, and develop recommendations for Senior Supervisors, Principal Supervisors, Directors and Executives.
• Collaborate with colleagues and internal or external partners to support registration, supervision, compliance and enforcement activities.
• Contribute to business documentation, operational policies, procedures, guidance, training materials and continuous improvement initiatives.

What you need
As an innovative and self-motivated problem solver, you can understand, interpret and analyze complex information and issues, exercise sound judgment, and provide clear recommendations. You communicate effectively, both orally and in writing, with a broad range of audiences. You are equally comfortable working collaboratively within a team or independently, and you bring strong attention to detail while working under tight timelines.

You have the desire to build the knowledge of the broader financial system, the retail payments ecosystem, retail payment service providers, and the role of regulation and supervision in maintaining a well-functioning system. You are flexible, adaptable and able to align your actions with the needs, priorities and goals of a new and evolving mandate.

What you need to succeed

• Experience interpreting and applying legislation, regulations, guidance, policies or supervisory frameworks.
• Experience conducting analysis, identifying discrepancies or trends, synthesizing information, and recommending practical solutions.
• Experience in one or more of registration, risk management, compliance, enforcement, audit, assurance, controls review, or financial sector supervision.
• Ability to work within ambiguity, manage changing priorities and produce high-quality analysis and documentation.

Nice to have

• Knowledge of, or experience with, supervisory frameworks that include registration, risk supervision, compliance or enforcement regimes.
• Experience with administrative law regimes or working with or for a regulator, PSP, financial institution, fintech or paytech.
• Experience in operational or cyber risk management, fund safeguarding, client asset protection, trust or custodial account oversight, audit, assurance, controls review, compliance or enforcement.
• Experience working with data sets, reporting, data visualization or business documentation.
• A background or designation in law, finance, accounting, economics, business administration, risk, audit, compliance or enforcement.
• Interest in supervisory technology, including artificial intelligence to support efficient supervisory practices

Your education and experience
The position requires a minimum of four years of relevant work experience, as well as a bachelor’s degree in law, finance, accounting, economics, business administration or another relevant field. An equivalent combination of education and experience may 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. The position language requirement is Level 5 (Fully Functional). If a qualified candidate who meets the language requirement of the position is not found, a qualified candidate who does not meet the language requirement may be considered. Training may be provided to help reach the required level. Both bilingual and unilingual candidates are encouraged to apply.

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
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 $94,193 to $110,816 (job grade 16)
• The Bank offers an incentive for successfully meeting expectations at 5 to 7% of your base salary. The Bank offers additional performance pay (3%) 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.