Senior Manager, Payment and Settlement Operations

Senior Manager, Payment and Settlement Operations

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 will do

The Banking and Payments Department (BAP) oversees the management of the federal government's retail and wholesale debt programs, services for the redemption of unclaimed properties, research and analysis relevant to payment, clearing and settlement services (PCSS) and the management of the Bank of Canada's pension fund.

BAP provides back-office payment and settlement services at its Ottawa and Calgary locations. BAP is currently seeking a Senior Manager, Payment and Settlement Operations for its Ottawa site.

You are part of a senior management team overseeing the work of approximately 35 Banking and Payments Specialists. The team provides critical banking services to financial institutions and designated payment, clearing and settlement systems.

It also carries out banking activities on behalf of government, other central banks and international organizations. The banking services delivered by the team generally comprise the provision of Canadian-dollar overnight deposit accounts, securities accounts and safekeeping services for Canadian-dollar securities, Canadian-dollar payments, settlement services to payment clearing and settlement systems, and fully collateralized loans to specific clients.

Additional banking services provided by the team include those related to the federal government’s foreign reserves and International Monetary Fund obligations.

You ensure that the highest standards for continuity, reliability and integrity of operations are achieved daily while respecting various deadlines throughout the day.

The work of the unit is based on strong processes and procedures; suboptimal performance could have serious implications for the reputation of the Bank, as well as financial consequences for the Bank or other participants in the securities and payment systems.

Operations are time-critical and are carried out Monday through Friday during a 21-hour workday beginning in the overnight hours and ending at 20 : 00 (EST).

To ensure smooth operations, you are therefore expected to develop and implement staffing schedules, resolve problems and emergencies in a timely fashion, ensure that staff receive appropriate training, and provide subject-matter expertise.

You also share responsibility for coverage of end-of-day settlement operations (extended hours) and on-call support of overnight banking operations on a rotation basis.

Part of your team members may work night shifts.

Finally, you may represent the Bank and PSO on internal and external committees of the payment, clearing and settlement system and contribute to analysis of banking systems and procedures, risks and opportunities.

The candidate will work a complement of both onsite (Ottawa Office) and from home. Please note that the ability to work onsite is a requirement due to the position being part of the Bank’s Critical Operations.

Typical onsite presence is every other week, plus other mandated presences.

What you need to succeed

You have experience in operational areas of banking and / or finance and knowledge of payment, clearing and settlement issues and practices.

You can direct and monitor an operational environment and distill and synthesize business issues to guide others toward effective solutions.

Your solid interpersonal, listening and negotiation skills enable you to establish credibility and respect while building and maintaining effective relationships with internal and external partners.

In addition, you are a strong communicator with sound analytical skills and judgment. As a senior manager, you have strong leadership skills with a demonstrated ability to create team effectiveness, optimize performance, manage changes, coach and provide guidance.

You are able to cope and remain calm with several daily deadlines and when facing operational events.

Nice-to-have

• strong knowledge of Canada’s financial market infrastructures (ACSS, CDSX, CDCS, CLS Bank, and LVTS); central securities depositories (Euroclear, Clearstream and CREST); SWIFT; and Fedwire
• good knowledge of trade lifecycles, foreign exchange activities and related settlements
• understanding of the Bank’s functions, organization, processes and systems and familiarity with the Bank’s technology environment and computerized applications.

Your education and experience

The position requires a minimum of a bachelor’s degree in business, finance or public administration and a minimum of five years of related work experience in the operational areas of banking and / or finance with increasing levels of management and leadership responsibilities, including a minimum of three years of work experience managing a team or an equivalent combination of education and experience may be considered

What you need to know

Language requirement : English and French essential (bilingual) with a minimum starting level of functional (level 4) in second official language.

Training may be provided to help reach the required level of fully functional (level 5) in second official language.

• Priority will be given to Canadian citizens and permanent residents
• Security level required : Be eligible to obtain Secret
• There will be no relocation assistance provided
• 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 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 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 $121,842 to $143,344 (job grade 18)
• 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 and dental coverage that meets your needs
• Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
• Option to join the indexed, defined-benefit pension plan after 24 consecutive months of service

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