Manager, Payment & Settlement Operations (Calgary)

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.

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 also manages the financial risk associated with funds-management activities and provides back-office payment and settlement services at its Ottawa and Calgary locations. BAP is currently seeking a Manager, Payment and Settlement Operations for its Calgary site.

You are part of a management team overseeing the work of approximately 40 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 high 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 and on-call support of overnight banking operations on a rotation basis.

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 (Calgary Head 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.

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 manager, you have strong leadership skills with a demonstrated ability to create team effectiveness, optimize performance, effect change & coach and provide guidance. You are able to cope and remain calm with several daily deadlines and when facing operational events.

Nice-to-have

good 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 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
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.

Vaccination Policy

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 and\or 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 $88,505 to $110,630 (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 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 #LI-POST%19642175% %%management%%

posted 30+ days ago