Lead, Regulatory Affairs

Do you want to help shape Canada’s financial services industry?

Who We Are

The Canadian economy depends on the exchange of billions of dollars each day. Payments Canada is responsible for the clearing and settlement infrastructure, processes and rules essential to those transactions.

Like a complex network of bridges and roads, Payments Canada connects. We connect with our system participants and stakeholders to promote value flow in the economy. And we connect payers and payees to meet the needs of Canadian businesses and consumers.

In accordance with our mandate, Payments Canada also facilitates the interaction of our systems with other payment systems, both within Canada and internationally, and facilitates the development of new payment methods and technologies.

Who You Are

You are a polished professional who enjoys working as an integral member of a cross-functional team. You are confident, progressive, and candid in your approach to sharing content and strategy recommendations. Gifted at adapting communications to various audiences, you have the ability to evaluate multi-dimensional issues and perspectives and to synthesize a holistic response. You are comfortable presenting and networking both internally and externally to build and maintain the visibility and credibility of the Regulatory Team.

You have a degree in Business, Finance, Economics, or a related field and at least 5 years’ progressive experience in a public policy, regulatory or banking operations environment. You have deep knowledge of the Canadian financial landscape, including payment systems infrastructure and industry developments. To be successful in this role, you will have either worked in the payments industry, regulation of financial market infrastructures, or are someone who picks up on new concepts quickly and is enthusiastic about learning everything you can about our business. You have a broad understanding of the legal and regulatory framework within the payments ecosystem. 

The Position

Payments Canada was established under the Canadian Payments Act (CP Act), which sets out its legal framework including its public interest mandate and oversight responsibilities of the Minister of Finance. In addition, its core clearing and settlement systems, the LVTS and ACSS, were designated by the Bank of Canada as systemically important system and prominent payment system respectively, and are subject to the Bank of Canada’s oversight and must meet the relevant Bank of Canada’s risk management standards. Other regulators, such as OSFI, also have keen interest in our operations as well as our key initiatives as the entities they regulate participate in our core clearing and settlement systems. Therefore, Payments Canada’s core operations and future initiatives including its Modernization program must fully address the regulatory requirements and expectations of all relevant regulators.

Reporting to the Director, Modernization (Regulatory Pillar), the Lead, Regulatory Affairs is responsible for supporting Payments Canada in managing relationships with Payments Canada’s regulators and other relevant Canadian regulators. The incumbent is required to work closely with the Vice President, Policy, Research, Legal and General Counsel; the Principal, Financial Market Risk; and other business leaders. 

Responsibilities of the position will include: 

  • Together with Principal, Financial Market Risk, operationalizing the established engagement strategy with the Bank of Canada.
  • Supporting Payments Canada’s Legal and Policy teams in operationalizing the engagement strategy with Minister of Finance.
  • Developing and managing internal processes by which issues and matters of regulatory interest are identified and presented to Regulators (mainly Bank of Canada and Minister of Finance), including the tracking of interactions with regulators.
  • Coordinating with Payments Canada’s leadership team to determine matters requiring and process for regulatory engagement.
  • Providing input into the planning of meetings with regulators, including setting meeting dates, preparing meeting agenda and materials, contributing to the developing of briefing materials for the Executive Leadership Team, and responding to action items from these meetings.
  • Under the guidance of the Principal, Financial Market Risk, attending meetings with regulators to record deliberations, using knowledge of Payments Canada’s business and structure to reflect strategic issues and to ensure that all deliberations are fully and fairly presented in concise minutes. Communicates and monitors follow-up actions.
  • Preparing reports and presentations, as required, to support effective regulatory engagement processes.    

Education/Other Requirements

  • Post-secondary degree in a relevant area (e.g., Business, Finance or Economics)
  • Minimum of 5 years’ experience in public policy, regulation of financial market infrastructures, or financial institutions,
  • Experience in interacting with or working at a regulator
  • Knowledge of the Canadian payments industry, in particular Canadian payments clearing and settlement systems, or banking operations
  • Knowledge of the federal government’s and Bank of Canada’s positions/priorities in relation to financial sector policy and the modernization of Canada’s core payments system 
  • Valid criminal records check or eligibility to obtain
  • Bilingualism (English and French) is considered an asset

Payments Canada as an Employer

Talent development is a priority at Payments Canada. Advancement of your skills and competencies is of mutual benefit to you as an individual and to us as an organization. Payments Canada will provide you with a team environment and organizational culture that will support continued growth and individual learning opportunities that progress you along a rewarding career path.

We offer a competitive compensation package commensurate with experience and a comprehensive benefits package.

What We Need From You

If this role excites you, we want to hear from you! Please take the time to tell us about yourself in a cover letter – we want to hear your story – your background, your accomplishments, and why this role is a good fit with your future career aspirations. 

Qualified applicants should submit their covering letter and résumé, including salary expectations, to: hr@payments.ca by December 11, 2017. Only those selected for an interview will be contacted.