Analyst, Retail Payments Supervision

Bank of Canada; Toronto; Hybrid; CAD 72,000 - 85,000; Full time

Job summary

The Bank of Canada seeks an Analyst for Retail Payments Supervision to uphold regulatory compliance and evaluate PSPs within the evolving payments landscape. Candidates should possess a relevant Bachelor’s degree and demonstrate strong analytical and problem-solving skills. This is an opportunity to contribute significantly to Canada's financial environment.

Benefits

Defined-benefit pension plan

Flexible work-life balance

Additional vacation days

Qualifications

• Self-motivated problem-solver with quality analysis.
• Organized, adaptable in evolving environments.
• Attention to detail, comfortable in team or independent work.

Responsibilities

• Support the implementation of the RPS regulatory mandate.
• Supervise and assess compliance of PSPs with the RPAA.
• Monitor trends and issues in the payment system.

Skills

Analytical Skills

Problem-Solving

Communication

Education

Bachelor’s degree in Law, Finance, Accounting, Economics, or Business Administration

Job description

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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.

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 .

This posting is to create a candidate pool for upcoming positions over the next 6 months. Roles filled from this pool may be permanent or term (temporary).

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. In response, the Bank of Canada is implementing the Retail Payments Supervisory (RPS) Framework under the Retail Payment Activities Act (RPAA).

Under this Framework, the Bank of Canada will register retail payment service providers (PSPs) that perform retail payment activities, maintain a public registry of PSPs, and supervise PSPs’ compliance with operational risk management and fund safeguarding requirements.

The Bank will assess whether PSPs are managing risks effectively, identify areas for improvement, and promote compliance through a combination of compliance, and enforcement tools. This includes the authority to impose administrative monetary penalties and enter into compliance agreements when necessary.

What You Will Do

As an Analyst for Retail Payments Supervision (RPS), you will support implementation of the Bank’s RPS regulatory mandate, contributing to:

• supervise and assess PSPs to determine if they comply with the RPAA
• promote compliance; and/or
• monitor and evaluate trends and issues in the payment system
  

Your work may include supporting the assessment of PSPs’ risk management practices, analyzing reports received from PSPs, supporting enforcement activities, or registration activities (facilitating registration processes, monitoring unregistered PSPs).

What You Need To Succeed

You are a self-motivated problem-solver, able to synthetize information and provide quality analyses. You are flexible and able to adapt to an evolving work environment and changing priorities. Furthermore, you can organize and balance a variety of tasks, and have an ability to communicate clearly. You are equally comfortable working collaboratively within a team, or independently. You have a strong attention to detail.

Nice-to-have

• Knowledge of retail payments, financial technology firms or payment clearing and settlement systems (financial market infrastructures)
• Knowledge of, or experience with, supervisory frameworks or regulatory regimes, particularly in the financial sector
• Background in risk management, enforcement, audit, law, compliance, or policy development
• A risk-oriented or accounting designation
  

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.

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
• 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 $72,070 to $84,788 (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.
• 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.

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Temporary

Job function

• Job function

  Sales and Business Development

• Industries

  Banking

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