Assistant Director, Operational Risk(Bank of Canada)career opportunity in Canada

Job title: Assistant Director, Operational Risk
Requisition #:  J0613-0965
Employment Type:  Full-time
Position Type:  Regular
City, Province, Country:  Ottawa, Ontario, Canada
Job Category:  Financial Markets
Positions:  1
Deadline:  September 29, 2013
Salary Range:
The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $109,968 and $177,226* (job grade 19 to 21).
*Where the Bank has needs for specialized skills, it may offer higher starting salaries to exceptional candidates.
Take a Central Role at the Bank of Canada:

Canada’s central bank is the nation’s pre-eminent macroeconomic policy institution. No other employer in the country offers you the unique opportunity to work at the very centre of Canada’s economy, in an organization with significant impact on the economic and financial well-being of all Canadians. No matter what your area of expertise, you’ll enjoy an open culture and a superior work environment that will challenge, energize, and motivate you to excel. ()

Department info:
The Financial Markets Department (FMD) has two broad sets of responsibilities. It executes the financial market transactions required to fulfill the Bank’s mandates, including those related to the implementation of monetary policy, the provision of liquidity to support financial stability and the management of the federal government’s wholesale debt, foreign exchange reserves and cash balances. Second, it undertakes financial market intelligence gathering and analysis, and conducts policy analysis and longer-term research, so as to brief senior management on financial system developments and their implications, and to contribute to the development and implementation of financial stability and monetary policies.

Job Summary:
This is a new position. Reporting to the Deputy Chief, the Assistant Director’s main responsibility will be to lead the review and enhancement of the department’s approach to measuring, monitoring and managing the operational risk exposures that arise in the course of all of FMD’s responsibilities, analytical as well as operational. You will work under the direction of the Chief and the Deputy Chief, as well as under the general direction of FMD’s Strategic Leadership Team. Initially, this will be a small unit, consisting of the Assistant Director and one Principal. You will be responsible for liaising with teams responsible for operational risk in other departments, as well as for FMD’s input into Bank-wide reporting of operational risk exposures. You will demonstrate a deep understanding of operational risk concepts, principles and methodologies obtained through previous work experience and training. More broadly, you will be a member of the departmental management team, participating in the development and implementation of work plans and other activities, supporting the department’s broad management objectives and providing input to its strategic direction.

Central Responsibilities:
• lead and direct the activities of the operational risk unit
• review the department’s existing approach to operational risk, both in relation to the ex ante identification of potential risks and the analysis and reporting ex post of operational risk events
• identify enhancements to the existing framework for tracking, reporting and managing operational risk, including recommendations on requirements for reporting tools
• produce a high-level policy statement on the management of operational risk in the department, and more detailed implementation guidelines
• identify an operational risk governance framework and Key Risk Indicators
• produce regular and ad hoc summary reports, as required, on the department’s operational risk exposures
• conduct ad hoc reviews of key departmental operational and analytical processes in order to identify potential improvements
• recruit a suitably qualified Principal for the team; support staffing and recruitment activities to ensure a high-quality workforce
• participate as an active member of the departmental management team
• contribute to the maintenance of a healthy work climate, build employee capability, support their professional development and enable employees to optimize their contributions to the Bank’s work
• monitor work activities to ensure that quality and performance standards are met, and implement corrective measures to address any significant variances
• develop and maintain effective and collaborative working relationships with other teams in the department and across the Bank that are involved in related issues

Key Requirements:
• undergraduate degree and recognized Canadian (or reciprocal) accounting designation (CA, CMA, CGA)

or
• master’s degree in finance or economics and
• a minimum of seven years of work experience in operational risk in either domestic or global financial markets
• an equivalent combination of education and relevant experience may be considered

in addition:
• strong planning, organizational and communication skills
• English and French essential
• level 4 – functional in second official language (training will be provided to help the selected candidate reach the required level of 5 – fully functional)
• excellent analytical and problem-solving skills
• ability to analyze complex issues, diagnose multi-dimensional problems and devise appropriate responses
• extensive knowledge of broader financial market issues and developments, as well as economic/financial theory and quantitative methods
• ability to provide support, guidance and feedback to help others meet their objectives, performance targets and personal career goals
• ability to work proactively and influence others to achieve goals and make effective changes
• proven ability to promote collaboration across areas and to work collaboratively and effectively with others within the team, across teams and with other departments
• experience in managing a team
• commitment to learning and self-development

Assets:
• fully functional in second official language
• project management experience
• Chartered Financial Analyst (CFA) or Financial Risk Manager (FRM) designation

Notes:
• Condition of employment: Candidate must be eligible for secret clearance.
• Priority will be given to Canadian citizens and permanent residents.
• Relocation assistance may be provided, if required.
• Key benefits offered include: health and dental care, sick leave, paid vacation, short-term and long-term disability, life insurance and defined-benefit pension plan.
• Only the candidates selected for an interview will be contacted.
• The Bank of Canada benefits from the unique perspectives, attributes and talents of its diverse workforce. We offer flexibility to accommodate the needs of our employees and candidates. The Bank of Canada is committed to employment equity and actively encourages applications from qualified men and women, including Aboriginal peoples, persons with disabilities, and members of visible minorities.

If you are a qualified candidate, please submit a detailed resumé and a covering letter by 29 September 2013. We will also ask you to complete a mandatory questionnaire during the application process.

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