Analyst, Retail Payments Supervision

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 ensuring 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 an Analyst 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 conduct analysis and support the development of sound recommendations to help fulfil the Bank's legislative and regulatory authorities under the RPAA.

Depending on the area of focus, you may assess registration applications and scope questions, support the evaluation of PSPs' operational risk management and fund safeguarding practices, review PSP reporting and incidents, investigate potential non-compliance, or support the use of appropriate supervisory and enforcement tools. As an analyst, you will:

• Analyze issues relating to the Bank's supervision of PSPs
• Contribute to business documentation, operational policies, procedures, guidance, training materials, and continuous improvement initiatives
• Collaborate with colleagues and internal or external partners to support registration, supervision, compliance and enforcement activities
• Contribute to the development of recommendations to support decision making

What you need to succeed

You have a desire to build your knowledge of the broader financial system, the retail payments ecosystem, financial technology, PSPs, 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 the Bank's supervisory mandate.

As an innovative and self-motivated problem solver, you can synthesize and interpret complex information and issues. You bring strong attention to detail while working under tight timelines. You can organize and balance a variety of tasks and are equally comfortable working collaboratively within a team or independently. You communicate effectively, both orally and in writing, with a broad range of audiences.

Nice-to-have

• Experience working with data sets, reporting, data visualization, or business documentation
• Knowledge of retail payments, financial technology firms, or payment clearing and settlement systems (financial market infrastructures)
• 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 bachelor's degree in law, finance, accounting, economics, business administration, or an equivalent degree in a relevant field, with a minimum of two years' experience. 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 Reliability
• Relocation assistance may be provided, if required

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.

Salaries: typically range from $73,511 to $86,484 (job grade 14)

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.

Benefits:

• 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