Bank of Canada
Principal Researchers

The Bank of Canada invites applications for Principal Researchers(Position Type: Regular)
- One position in the Canadian Economic Studies division (CES)
- One position in the Canadian Projection and Policy Analysis division (CPPA)
- One position in the Macro-Financial Studies division (MFS)

SALARY RANGE: The Bank offers a competitive total compensation package with starting salaries, based on qualifications, generally ranging between $89,345 and $111,681* (position grade 18). *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 is, you'll enjoy an open culture and a superior work environment that will challenge, energize and motivate you to excel.

ABOUT CANADIAN ECONOMIC ANALYSIS: The Canadian Economic Analysis Department (CEA) provides high-quality economic analysis, projections and research that contribute primarily to the Bank's monetary policy function. The department also conducts longer-term research into issues relevant to monetary policy, including factors affecting the monetary policy transmission mechanism and those influencing the economy's long-run potential. CEA plays an active role in the communication of monetary policy and as external liaison with the academic community, other central banks, international organizations, Canadian businesses and the Canadian public. The department also disseminates its research at seminars and conferences, as well as through working papers and economic journals.

Within CEA, the Canadian Economic Studies division (CES) conducts research and analysis on key structural issues facing the Canadian economy and affecting Canadian monetary policy. A main objective is to improve the understanding of the key determinants of Canadian potential output. Productivity, long-run labour input, the effects of demographic change and inequality are additional subject areas of interest.

The Canadian Projection and Policy Analysis division (CPPA) analyzes economic developments in Canada, assesses their impact on the outlook for inflation and real economic activity, and provides a recommendation to Bank management for the setting of monetary policy. In deriving its recommendations, CPPA is responsible for identifying and quantifying key risks to the economic outlook. In conjunction with other divisions, CPPA also contributes to the development of models and other research tools that it finds useful to complete its tasks.

The Macro-Financial Studies division (MFS) analyzes money, credit and financial conditions of both households and businesses. It also aims at understanding real-financial linkages issues. These issues include the financial transmission of shocks to the real economy and inflation, including the monetary policy transmission mechanism, as well as the macroeconomic consequences of balance-sheet adjustments of households, businesses and banks allowing for related distributional effects.

JOB DESCRIPTION: As Principal Researcher, you: (i) work under the general direction of the Assistant Chief/Director of the division, substituting for him/her, as required; (ii) initiate, lead and conduct economic research; (iii) provide policy advice on fundamental monetary policy issues; (iv) participate in management of the division, helping the Assistant Chief/Director to ensure that the division's work plan objectives are achieved; (v) coach and collaborate with other research economists in the department; and (vi) contribute to a supportive and collegial environment that attracts, develops and retains staff and motivates them to achieve excellence in economic analysis.

- initiate, lead and conduct research/analysis on topics or questions identified in the work plan or requested by Bank management
- provide leadership by anticipating issues and contributing to the work plan development
- disseminate research outcomes both inside and outside the Bank
- build relationships and work collaboratively with external parties
- advise colleagues and Bank management in areas of subject-matter expertise
- represent the department on Bank-wide committees

- ensure that CES research is disseminated through a variety of publications, presentations and research networks
- ensure that research and analysis on Canadian potential output and on other related structural issues are communicated efficiently to senior management
- take a leadership role in the planning and execution of the yearly reassessment of Canada's potential output
- work with the Director to develop and oversee the execution of a research plan addressing structural issues of interest to the Bank

- supervise and participate in staff projections and policy analyses for the Canadian economy, respecting the timeline of the fixed action dates (White Book drafting, Case A and risks presentations, projection updates)
- prepare analytical notes for Governing Council in advance of the fixed announcement dates, respond to requests from senior management and support the production of the Monetary Policy Report
- provide analysis in the context of the stress-testing exercise as well as other ad hoc briefing requests (e.g., Senior Advisory Committee)
- develop and maintain tools to meet the Bank's monetary policy needs (projection tools and short-term forecasting tools)

- develop and maintain tools to enhance the understanding of real-financial linkages issues and financial conditions of households and businesses relevant to the Canadian economy
- prepare analytical notes for Governing Council in advance of the fixed announcement dates, respond to requests from senior management and support the production of the Quarterly Report on Money and Credit
- support the planning and execution of the division's workplan and foster the quality and relevance of the projects pursued by the division pertaining to its mandate coordinate the efforts of the division with other groups or departments

APPLICATION PROCEDURE: If you are a qualified candidate, please click on this link: to view the full advertisement in English and in French and submit a detailed resume and a covering letter, indicating which position(s) you are interested in, by 21 May 2012. We will also ask you to complete a mandatory questionnaire during the application process.

Posted 5/15/12