Job Description

Senior Economist

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:  

Find out more about the next steps in our Recruitment process. 

Did you know? 
The Canadian Economic Analysis Department provides high-quality economic analysis, projections and research to support the Bank’s monetary policy function. Within the department, the Model Development Division (MODDEV) is responsible for developing and maintaining macroeconomic models used to analyze policy and prepare economic projections for Canada. MODDEV also conducts long-term research to enhance the modeling of key economic linkages and their implications for monetary policy and supports other departmental analyses with its modeling expertise. One of the areas of focus is climate change, as the Bank of Canada recognizes the importance of considering climate change in its work to promote Canadians’ economic and financial well-being. To fulfill its monetary policy mandate of keeping inflation low and stable, the Bank must understand the potential consequences of climate change on the macroeconomy and price stability.

What you will do 
Being a part of MODDEV, you will help develop and maintain models to better understand climate-related transition and physical effects on the Canadian economy with implications for monetary policy. You will assess, among other issues, the economic implications of physical and transition risks in a small open economy. You proactively suggest, lead and conduct original, high-quality policy-relevant research and analysis that relates to the topic of climate change. You will respond to requests on climate-relevant topics from senior management and other departments. You will build relationships with internal and external parties, e.g., government and international agencies, other central banks, and outside academics, to share knowledge, research and analysis.

What you need to succeed

• You come from a strong background developing and working with macroeconomic models, especially dynamic stochastic general equilibrium (DSGE) models. You have a solid understanding of macroeconomics that allows you to think through complex economic issues from first principles. In addition, you have: 
• Effective communication skills, both orally and in writing, with a variety of audiences. You are equally comfortable working collaboratively within a team, or independently. 
• A self-starter, driven and innovative mindset with the ability to initiate, follow-through and anticipate future opportunities. Your work is conducted with a strong attention to detail. 
• You have a high degree of intellectual curiosity and commitment to learning and self-development. 
• You must have experience in modelling and programming with technical tools (e.g. MATLAB, Dynare, Python, Julia) and experience in writing up technical documentations.

Nice-to-have 

• Knowledge and expertise related to climate change and climate policy.
• Direct experience working with climate-economy models, especially Environmental DSGE Models.

Your education and experience

• a master’s degree in economics or finance and a minimum 3 years of relevant work experience 

or

• a PhD degree in economics or finance 
• 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. Although the position language requirement is English or French essential, we do encourage everyone to improve second their language proficiency for future career growth and to contribute towards fostering a bilingual environment.

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 $108,874 to $128,087 (job grade 17)
• The Bank offers an incentive for successfully meeting expectations at  7 to 10% of your base salary. The Bank offers additional performance pay (5%) 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.

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