Senior Legal Counsel

Job title:

Senior Legal Counsel

Company

Bank of Canada

Job description

Senior Legal CounselTake a central roleThe 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 .Did you know?
The payments landscape in Canada and globally is evolving rapidly, driven by technological advancements that are introducing innovative ways for consumers and businesses to make payments. In response, the Bank of Canada is implementing the Retail Payments Supervisory (RPS) Framework under the Retail Payment Activities Act (RPAA).Under this Framework, the Bank will register retail payment service providers (PSPs) that perform retail payment activities, maintain a public registry of PSPs, and supervise PSPs’ compliance with operational risk management and end-user fund safeguarding requirements.The Bank will assess whether PSPs are managing risks effectively, identify areas for improvement, and may promote compliance through enforcement action. The Bank’s range of enforcement tools includes administrative monetary penalties and compliance agreements.What you will do
Under the direction of the Director, Retail Payment Supervision Legal Affairs (Executive and Legal Services Department), you will provide the Bank with expert legal services as a senior legal practitioner. You will support the Bank’s Supervision Department by providing legal advice relevant to the Bank’s supervision of PSPs under the RPAA and the related oversight framework. In particular, you will provide support for the Bank’s internal review process for supervisory actions taken under the RPAA (i.e., prescribed reviews). You will engage and manage outside counsel in situations where specialist advice is required. You will also work with internal clients and legal counsel, as well as legal counsel in other organizations, to support evolving departmental needs.In addition, you will:

• Support the review and appeals team in responding to requests for prescribed reviews, which includes preparing written analyses, legal opinions, and advice to a decision-maker.
• Apply administrative law, as well as tribunal and/or other adjudicative experience, and critical thinking to analyze complex submissions and assist in preparing clear, cogent reasons for decisions.
• Assist with developing and designing public and internal policies, processes and documentation associated with prescribed reviews.
• Manage prescribed reviews in a time-sensitive, caseload-driven environment.
• Perform other legal advisory duties in relation to other Bank functions as may be assigned.

What you need to succeed
You possess expert knowledge of Canadian regulatory law, with substantial experience in administrative law, administrative adjudicative body proceedings, and drafting administrative decisions (or a combination of relevant experience). You are also adept at providing practical legal advice to clients, whether gained in an in-house setting or a law firm environment.This role requires exceptional research skills, a keen interest in emerging legal issues and technological advancements in the financial sector, and highly developed analytical abilities. You excel at quickly understanding and addressing complex issues that impact the Bank and the financial sector, and you can independently formulate effective responses.A thorough understanding of the Bank’s mandate, objectives, and needs is essential, enabling you to deliver high-quality, pragmatic, and targeted legal advice. You also bring strong verbal and superior written communication skills, along with effective planning and project management capabilities, allowing you to navigate complex, sensitive, and dynamic priorities while adapting to unforeseen circumstances.Success in this role also depends on your ability to build strong relationships and collaborate effectively, whether working independently or as part of a team. Finally, while travel is rarely required, you must have the ability to travel occasionally.Nice-to-have

• experience providing advice to a supervisory or regulatory organization in the financial sector or in another field
• knowledge of the payments services / fintech industry
• experience advising administrative adjudicative bodies
• policy development experience
• experience litigating administrative law matters
• prior work experience with a leading law firm, government agency or official international organization
• knowledge of civil law and/or international public and private law
• knowledge of the general structure and core functions of the Bank of Canada

Your education and experience

• law degree and membership in a Canadian provincial law society with a minimum of eight post-call years of experience related to regulatory legal matters, with an emphasis on administrative law and adjudicative issues.

Language requirement
The Bank’s work environment is conducive to the use of both of Canada’s official languages – English and French. The position language requirement is Level 5 (Fully Functional). If a qualified candidate who meets the language requirement of the position is not found, a qualified candidate who does not meet the language requirement may be considered. Training may be provided to help reach the required level. Both bilingual and unilingual candidates are encouraged to apply.What you need to know

• Priority will be given to Canadian citizens and permanent residents
• Security level required: Be eligible to obtain Secret
• There will be no relocation assistance provided
• Please save a copy of the job poster. Once the closing date has passed, it will no longer be available.

Hybrid Work ModelThe 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.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 .

• Salaries are based on qualifications and experience and typically range from $174,197 to $204,938 (job grade 20)
• 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 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

We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.

Expected salary

Location

Ottawa, ON

Job date

Tue, 04 Feb 2025 23:40:54 GMT

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