Operational Risk Analyst
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: Working Here - Bank of Canada
Find out more about the next steps in our Recruitment process.
Did you know?
The Financial and Enterprise Risk (FER) department supports an enterprise-wide view of risk management across the Bank of Canada. Reporting to the Chief Risk Officer, the department is responsible for the oversight of our enterprise, operational and financial risks. Within FER, the Enterprise Operational Risk & Analytics (EORA) monitors, reports, and advises on operational risks at the enterprise level and leads the Third-Party Risk Management Program at the Bank
What you will do
The Risk Analyst will support the Third-Party Risk Management program and will support the development and enhancement of the Bank’s operational risk practices, processes, reporting and tools. Through its work, EORA promotes effective high-quality operational risk-management to ensure that rigorous assessment of risk is fully integrated into decision making to effectively meet Bank mandates, objectives, and operational excellence
Reporting to the EORA Director, you support the team in operational risk management and Third-Party Risk Management.
You will specifically:
- Provide support and research the development and implementation of risk management policies, frameworks, metrics, and tools.
- Undertake risk analysis, reporting and discussion across a broad range of operational risks to identify risk causes, impacts and whether mitigating action plans are appropriate.
- Support the users of FER’s risk modules in ServiceNow and proactively identify issues for internal resolution and those that need to be redirected or escalated.
- Conduct ongoing monitoring, research, and use of quantitative data analysis for complex risk issues, including emerging risks.
- Provide timely risk advice to colleagues as well as stakeholders across the three lines across a broad range of risk issues.
- Build effective relations with partners across the three lines and coaching others.
What you need to succeed
You are analytical, and can understand complex operations, identify key risks, and assess control procedures. You have knowledge of operational risk management concepts, principles, and methodologies, including third party risks and enjoy giving meaning to data. You are a self-starter who is collaborative, flexible, innovative and can work in a fast-paced environment.
This position requires:
- Good knowledge of risk management concepts, policies, frameworks, models and practices, including the three lines risk governance model and operational risk management;
- Analytical skill to use qualitative and quantitative research methods and ability to conduct research using multiple sources of information and data;
- Data visualization and/or AI experience to design dashboards and reports;
- Familiarity with relational data and technologies/platforms that support analytical solutions (Fabric, Databricks, SQL, etc.) to ensure risk reporting with data integrity;
- Excellent communication skills and the ability to clearly convey information and ideas to the target audience, using clear and compelling written products and oral presentations/briefings;
- The ability to work collaboratively with others within your team and across teams to achieve objectives; and
- Strong problem solving and judgment skills to identify, analyze, and address complex and ambiguous risk issues leading to creative, practical, and risk informed recommendations.
Nice-to-have
- Certification or designation in risk management or a relevant field of study (i.e., governance, compliance, audit, business, data analytics) such as:
- Certified Enterprise Risk Manager, Canadian Risk Management Designation, Associate in Risk Management Designation, Financial Risk Manager Certification, Certified Risk Specialist
- Masters Certificate in Risk Management, Business Performance
Your education and experience
This position requires a bachelor’s degree in a relevant field of study (i.e., risk, business management, public administration) with a minimum of 4 years of relevant work experience in risk-management, or related areas in a private or public sector institution. We may also consider an equivalent combination of education and experience.
Innovative Mindset
We value candidates who demonstrate adaptability, curiosity, and a willingness to learn new technologies, including AI and digital tools. We seek individuals who can think critically about data, question existing processes, and find ways to simplify our work while embracing change and new ways of doing things.
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
- 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.
- The official title for this position is “Analyst, Enterprise Operational Risk & Analytics ”
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 portion 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 12 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 $94,193 to $110,816 (job grade 16)
- The Bank offers an incentive for successfully meeting expectations at 5 to 7% of your base salary. The Bank offers additional performance pay (3%) 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.
