Senior Analyst, Registration (Ottawa (Downtown), ON, CA)
City : Ottawa
Category : Other
Industry : Banking/Financial
Employer : Bank of Canada
Senior Analyst, Registration
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 a diverse and inclusive organization with significant impact on the economic and financial well-being of all Canadians. You will be challenged, energized and motivated to excel in an environment where we are reinventing central banking, renewing ways of doing business and reinforcing a culture of innovation.
Find out more about the next steps in our Recruitment process.
About Retail Payments Supervision
The payments landscape in Canada and globally is changing rapidly. The rapid pace of technological change in Canada and around the world is introducing new and better ways for consumers and businesses to make payments.
The federal government is implementing a new Retail Payments Supervisory (RPS) Framework under the Retail Payment Activities Act. Under this Framework, the Bank of Canada would register payment service providers that perform retail payment activities and supervise PSPs’ compliance with operational risk management and fund safeguarding requirements and maintain a public registry of PSPs.
The Bank will monitor and assess whether an individual or entity is a PSP and make a registration decision as to whether it is within the scope or not of the Bank. The Bank will assess whether PSPs are adequately managing their risks and help identify areas where their risk-management practices should be improved. To fulfill its mandate, the Bank will have a suite of registration, compliance and enforcement tools, will be authorized to promote compliance with the PSPs’ registration, operational risk, end-user funds safeguarding, and mandatory reporting requirements and take enforcement actions, including imposing administrative monetary penalties and entering into compliance agreements.
What you will do
As the Senior Analyst of the Registration Division, you will contribute to fulfilling the Bank’s RPS regulatory mandate by participating in the design, implementation, review, and assessment of the legislative and regulatory authorities of the Bank related to registration. You will be the lead in developing operational policies, procedures, and training materials for registration staff and will draft and update guidance related to registration scope, registration process, and coordination with the key external partners.
In addition, you will:
- review registration applications/cases, and make recommendations
- monitor unregistered, refused and revoked PSPs
- lead the assessment of different business structures for mergers, acquisitions and other changes of control
- lead and participate in registration promotion activities
- monitor and evaluate trends and issues related to the payment ecosystem (e.g., scope issues, including quantitative and qualitative data assessment and provide preliminary conclusions to feed recommendations for legislative, regulatory, guidance, or operational policy amendments
- be responsible for the development and maintenance of memoranda of understanding with key external partners
- assess registration reporting and renewals
- draft, and maintain the guidance related to registration scope, registration process, coordination with key external partners guidance for PSP’s
What you need
You should have the desire to build (or already have) your knowledge of the broader financial system and the supervision of retail payment systems with an appreciation of current issues/trends faced by individual PSPs. You should have the knowledge of the relevant Acts, and bodies of regulation and guidance associated with retail payment supervision and experience dealing with a range of issues. You are able to identify and analyse issues, determine benefits and drawbacks, identify solutions, and provide recommendations.
Nice to have
- Knowledge of, or experience with, supervisory frameworks that include registration/licensing/authorization/merger, acquisition, or control assessment regimes
- Experience with administrative law regimes or working for a regulator, a PSP, or in a relevant field
- Background in law, compliance, policy development, or registration
- Accounting designation focused on managerial accounting or audit
- A risk-oriented designation
Your education and Experience
The position requires a Bachelor’s degree in Law, Finance, Accounting, Economics, Business Administration or an MBA or an equivalent degree in a relevant field with a minimum of six years experience. 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
- Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.
- In response to the COVID-19 pandemic and further to public health guidelines, preventative measures are being taken to ensure health and safety during the recruitment process. All interviews are conducted virtually.
Hybrid Work Model #LI-Hybrid
The Bank is conducting a trial of a hybrid working model which provides employees with the flexibility to telework for significant portions of each month. During the trial, employees will be expected to come onsite on those days when they are involved in activities that they or their leader feel are better conducted in person and to build connections with colleagues. For the majority of employees, it is expected that onsite time will range from 5 to 10 days per month, depending on your role. You must live in Canada, and within reasonable commuting distance of the office.
Please note that the application of the Bank’s Covid-19 Vaccination policy has been temporarily suspended, effective June 20, 2022. As a result, you will not be required to submit verification of your vaccination status before starting employment with the Bank. However, please note that the Bank reserves the right to reintroduce vaccination requirements in the future if necessary to respond to changing public health advice andor government direction.
We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.
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 $97,615 to $113,885 (job grade 17)
- Depending on performance, you may be eligible for performance pay for successfully meeting (7 to 10% of your base salary) or for exceeding expectations (15% of your base salary). 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 #LI-POST