Trader Analyst or Senior Trader Analyst

Trader Analyst or Senior Trader Analyst

Location: Calgary, AB
Position Type: Permanent
Position Length: Indeterminate

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 centre 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 an environment where we are reinventing central banking, renewing ways of doing business and reinforcing a culture of innovation.

Did you know?
The Bank of Canada has established an alternate site for Bank operations in downtown Calgary. The Calgary Operational Site (COS) and Head Office (in Ottawa) share responsibility for day-to-day market and banking operations. By having two groups in separate geographic locations work together every day, we improve our ability to continue our operations seamlessly. Approximately 65 employees will work out of the COS when it is fully staffed.

About the position
The Financial Markets Department (FMD) is currently seeking a Trader Analyst or Senior Trader Analyst for their trading room in each of the Foreign Reserves Management (FRM) and Market Analysis and Operations (MAO) divisions in Calgary.
Both positions will require some training in Ottawa.

Interviews for this role will begin in September 2019.

Foreign Reserves Management
The Exchange Fund Account (EFA) is the largest component of Canada’s official international reserves. The EFA primarily consists of liquid foreign currency assets (fixed income securities and deposits) which are funded by Government of Canada foreign currency liabilities. The FRM team manages EFA assets and the foreign currency liabilities in accordance with the Currency Act, the Financial Administration Act, and formal investment guidelines established by the Department of Finance and the Bank of Canada’s Funds Management and Banking Department. Instruments transacted by FRM traders include deposits, repos, other money market assets, bonds, and cross-currency interest rate swaps. The team is also directly involved in the issuance of new public or private foreign currency debt for the Government of Canada.

Market Analysis and Operations
The MAO team is responsible for analyzing domestic and foreign financial markets, providing policy advice relating to domestic operations and for conducting market operations on behalf of the Bank of Canada and the Government of Canada. The MAO team is organized into trading desks that focus on the team’s primary responsibilities: money markets, domestic bonds and foreign exchange. The foreign exchange desk is focused on fulfilling the foreign exchange needs of the Bank and the government. The money market and bond desks implement monetary policy, acquire assets for the Bank’s balance sheet, support the functioning of the government bond market in Canada, and execute the federal government’s debt strategy. The market analysis function includes providing frequent oral and written briefings to senior management on developments in the Canadian fixed-income market, as well as in global foreign exchange, commodity, equity, and emerging markets.

Your future responsibilities
In FRM you will transact in foreign currency fixed income markets, while in MAO you will transact in domestic fixed income and foreign exchange markets. Members in both teams provide policy advice on activities related to the respective team’s functions and participate in the department’s briefing process by describing market developments and assessing the impact for policy-makers, both orally and in writing.

You will be required to deepen your understanding of financial markets, develop a strong understanding of the Bank’s role as fiscal agent to the Government of Canada, foreign reserve management practices (in FRM), the Bank’s framework for market operations and liquidity provision and the Government of Canada Debt Management Strategy (in MAO), develop and maintain internal and external relationships, and report on financial market activity. You will work closely with your colleagues in Ottawa and Calgary, travelling as necessary, and must demonstrate an interest in professional development which includes cross training in different operations.

Your education and experience

• master’s degree in finance or economics with a minimum of three years of recent relevant work experience, or
• an equivalent combination of education and experience may be considered

Assets

• prior trading floor/market experience in a financial institution
• familiarity with the Canadian financial system and central banking
• completion of, or enrolment in, the Chartered Financial Analyst (CFA) Program or similar programs
• experience in policy analysis
• strong quantitative background

Your knowledge and skills

• knowledge of portfolio management theory and fixed income investment strategies
• knowledge of international government bond and money markets
• knowledge of central banking and foreign reserves management
• ability to communicate clearly, accurately and concisely with internal and external contacts
• ability to multi-task and to maintain accuracy and speed under pressure
• strong writing and presentation skills and able to adapt style and content to the target audience
• strong team player and can contribute to team objectives by sharing ideas, knowledge and feedback
• strong analytical skills, bringing a wide range of considerations and perspectives to issues and identifying ways to improve on previous efforts
• commitment to learning and self-development, as well as the capacity to continuously seek to build on knowledge of portfolio-management practices and financial markets
• ability to maintain high ethical and professional standards in all areas of responsibility
• ability to learn and use analytic and information tools such as Bloomberg, Reuters, spreadsheets and straightthrough processing systems

Language requirement
English or French essential

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.

Senior Trader Analyst

• Salaries are based on qualifications and experience and typically range from $91,662 to $120,300 (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.

Trader Analyst
Candidates whose experience and/or educational background may not be at the level being recruited for will be considered for a position within the accelerated progression stream program. The accelerated progression stream is for economists and financial sector specialists and is defined by four levels P1 to P4. The program is an apprenticeship where the employees acquire the skills over a number of years to reach the working level of a Senior Trader Analyst at the job grade 17.

• Salaries are based on qualifications and experience and typically range from $76,500 to $91,661 (job grade P3-P4).
• During the progression, you are not eligible for performance pay given that performance is rewarded via a faster rate of progression through the salary range.

Additional benefit information:

• 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 plan

For more information on key benefits, please visit www.bankofcanada.ca/careers/working-here.

Additional information

• Priority will be given to Canadian citizens and permanent residents
• Must be eligible for secret clearance
• Relocation assistance may be provided, if required

Please apply online by September 8, 2019: http://bit.ly/2YTs0Zm