Senior Manager, Payment and Settlement Operations

Job Description

About the Role

Title: Senior Manager, Payment and Settlement Operations

Job number: 10191

Position type: fixed-term employment

Duration of position: 2 years (extension possible)

Location:

Calgary, AB, CA

Remote work: Hybrid model

Closing Date: September 10, 2024 11:59 PM EST

Job Description:

Responsable principale/principal, Oprations de paiement et de rglement

enior Manager, Payment and Settlement Operations

Take a central role

The Bank of Canada’s vision is to be an influential central bank – dynamic, engaged and trusted – committed to a better Canada. No other employer will offer you the opportunity to work at the heart of the Canadian economy, in an organization whose work has a significant impact on the economic and financial well-being of 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 delivering on our commitments and clearly explaining the intent of our policies and actions.

With our defined benefit pension plan, comprehensive benefits and flexible work-life balance, find out why we’re ranked among Canada’s best employers every year: Working here – Bank of Canada

To learn more about the next steps in our hiring process please see Recruitment Process .

What you’ll do

The Banking and Payments Operations (BPO) department oversees the management of the federal retail and institutional securities programs; unclaimed property refund services; research and analysis related to payment, clearing and settlement services; and the management of the Bank of Canada Pension Fund. In addition, BPO provides payment and settlement administrative services from its offices in Ottawa and Calgary. BPO is currently seeking to fill a Senior Manager, Payment and Settlement Operations position in the Calgary location.

You will be part of a management team that oversees the work of approximately 35 banking and payments specialists. The team provides essential banking services to financial institutions and designated payment, clearing and settlement systems. It also provides banking activities on behalf of the government, other central banks and international organizations. Typically, the team provides the following banking services: Canadian dollar overnight deposit accounts, securities accounts and custody services for Canadian dollar-denominated instruments, Canadian dollar payment services, settlement services for payment clearing and settlement systems, and fully secured loans to certain clients. The team also provides other banking services, including in relation to the federal government’s foreign exchange reserves and Canada’s obligations to the International Monetary Fund.

You will ensure daily compliance with the highest standards of continuity, reliability and integrity of operations while meeting various deadlines throughout the day. The work of the Section is based on rigorous procedures and processes: less than optimal performance could seriously damage the reputation of the Bank and have financial consequences for the Bank or other participants in the payment and securities systems.

Operations, which operate 21 hours a day, Monday through Friday, must be completed on time. The work day begins at night and ends at 8:00 p.m. (ET). To ensure smooth operations, you will need to establish work schedules, resolve problems and respond to emergencies quickly, ensure staff obtain appropriate training, and provide expertise in the specialty area. You will also have shared responsibility for assisting with end-of-day settlement operations (extended hours) and providing on-call support during night banking operations on a rotating basis. Some of your team members may work nights.

Finally, you may be asked to represent the Bank and OBPs on internal and external committees relating to payment, clearing and settlement systems, and to contribute to the analysis of banking systems, procedures, risks and opportunities.

The successful candidate will work both on-site (in the Calgary office) and from home. Please note that on-site work is a requirement because the incumbent will be performing essential Bank operations. Generally, on-site presence will be required every other week; additional mandatory on-site visits may be required.

What you need to succeed

You have experience in banking or finance operations and knowledge of payment, clearing and settlement issues and practices. You are able to lead and monitor an operational environment and communicate and synthesize operational issues to guide others toward effective solutions. You leverage your strong interpersonal, listening and negotiation skills to establish a climate of credibility and respect while building and maintaining effective relationships with your internal and external partners. In addition, you are an effective communicator and have very good analytical skills and good judgment. As a Senior Manager, you have excellent leadership skills and have demonstrated the ability to foster team effectiveness, optimize performance, manage change, coach and provide direction to employees. You are able to remain calm in the face of multiple daily deadlines and operational incidents, and manage them.

Assets

excellent knowledge of Canada’s financial market infrastructures (SACR, CDSX, CDCC, CLS Bank and STPGV); central securities depositories (Euroclear, Clearstream and CREST); SWIFT and Fedwire

good knowledge of the transaction life cycle as well as foreign exchange operations and related regulations

understanding of the Bank’s functions, organization, processes and systems, and knowledge of its technological environment and IT applications

Your education and experience

You must have, at a minimum, a bachelor’s degree in business administration, finance or public administration and at least five years of relevant professional experience in banking or finance operations in positions involving increasing management and leadership responsibilities, including at least three years leading a team. An equivalent combination of education and experience may be considered.

What you need to know

Language requirement: English and French essential (bilingualism); a functional knowledge of the second official language is the minimum starting level (level 4). Courses may be provided to achieve the required level, i.e. a fully functional knowledge (level 5) of the second official language.

Priority is given to Canadian citizens and permanent residents.

Required Security Level: Be eligible for Secret clearance

Relocation assistance may be available if needed.

Please save a copy of the poster. Once the closing date has passed, it will no longer be available.

Hybrid work model

The Bank offers work arrangements that provide flexibility to employees, enable high-performing teams and foster a great work culture. Under the Bank’s hybrid work model, most employees are able to work remotely from home for a significant portion of each month, and are expected to be present at the Bank’s locations at least eight days per month to help build connections with colleagues. You will be required to live within a reasonable commuting distance of the office.

What you can expect from the Bank

Take advantage of this unique opportunity to be part of a high-performing team within a large organization. The Bank offers a competitive compensation and benefits package designed to meet your needs at every stage of your life and career. To learn more about our key benefits, please visit What’s in it for you .

Salary typically ranges from $121,842 to $143,344 (job level 18) depending on the skills and experience of the successful candidate.

The Bank offers a bonus for individuals who successfully meet expectations of 7 to 10% of individual base salary. The Bank offers additional performance pay (5%) to employees who exceed expectations. Employees who deliver exceptional performance that far exceeds expectations may be eligible for higher performance pay.

A comprehensive, flexible benefits program lets you choose the level of coverage that fits your health and dental needs.

You can also purchase additional leave days (maximum of five per year) which are added to your basic annual leave.

You will have the opportunity to participate in the fully indexed defined benefit pension plan after 24 consecutive months of service.

We thank all those who express interest in applying for this position. Only those selected for an interview will be contacted.