Bank of Canada | A new Deputy Governor will be hired in a revised role

(Ottawa) The Bank of Canada has begun searching for its next deputy governor, who will now fill a part-time, non-executive role.

Posted at 5:16 p.m

The fourth deputy governor of the central bank will replace Timothy Lane, who is due to retire on September 16.

The central bank says it is looking for an outside person because it is changing the nature of the position after a review.

The role will focus on monetary policy and financial stability mandates. The person remains a member of the board of directors of the bank.

“This change is an opportunity to incorporate new and different perspectives into our consensus-based decision-making framework and to ensure that managerial responsibility is shared in a balanced, clear and effective manner among our senior leaders,” said Governor Tiff Macklem.

The successful candidate will hold the equivalent of 50-70% of the full-time position.

A job posting, now publicly available online, advertises the position as a two-year contract position with the possibility of a one-year extension.

Darren Pena

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