Principal Analyst, Consumer Protection, Consumer-Driven Banking

Principal Analyst, Consumer Protection, Consumer-Driven Banking

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. 

 

This posting may also be used to fill additional roles, either term or permanent, within the Consumer-Driven Banking team as they become available in the near future.

 

Application Process 
Your application must include the following:

• Curriculum vitae; and
• Cover letter outlining how your skills and qualifications meet the requirements for the role.

 

About the Bank of Canada’s New Mandate to Oversee Consumer-Driven Banking
Through the 2025 Federal Budget the Government of Canada has given the Bank of Canada the mandate to oversee the Consumer-Driven Banking Act. 

 

Consumer-Driven Banking is a framework that enables consumers to provide consent to share their financial data with financial companies of their choice. Within this framework, consumers can control, manage, edit, and delete their information, and decide when, how, and to what extent their financial institution shares that information. By enabling consumers to safely and confidently use their financial information, Consumer-Driven Banking has the potential to expand choice, foster innovation in financial products and services, and strengthen competition across the financial sector.

 

Under the Consumer-Driven Banking mandate, the Bank of Canada will:

• Accredit entities to participate in the framework’s data-sharing ecosystem;
• Maintain a registry of accredited entities;
• Supervise participating entities so that they are managing their risks associated with sharing consumers’ data– this includes assessing participating entities’ compliance with requirements related to:
  • Data sharing;
  • Management of consumers’ express consent to share data;
  • Consumer protection measures;
  • Complaints handling procedures and processes;
  • Security safeguards to protect consumer data; and
  • Technical standards for sharing consumer data.
• Oversee accredited third-party service providers, an external complaints body, and a technical standards body for their compliance with their requirements under the Consumer-Driven Banking Act; and
• Monitor developments, evaluate trends, and foster competition in the area of Consumer-Driven Banking.

 

Strong consumer protection requirements are foundational to this framework, helping ensure Canadians can share their financial information safely, confidently, and with a clear understanding of their rights and protections. These requirements include clear rules governing consumer consent—including how consent is obtained, renewed, and withdrawn—as well as obligations related to data-sharing practices, complaints handling, liability for the sharing and receipt of consumer data, and requirements for the retention and deletion of consumer information.

 

What you will do
You will act as a key member of the team responsible for the development and implementation of the new supervisory framework with ambitious timelines and regulatory complexity. 

 

As a key member of the team, you will help design and implement the Bank of Canada’s new supervisory framework for Consumer-Driven Banking, contributing to a high-profile mandate with ambitious timelines, significant regulatory complexity, and broad impact on Canada’s financial ecosystem.

 

You will apply your experience and expertise to support the Bank’s interpretation and application of consumer protection requirements for entities participating in the Consumer-Driven Banking Framework, and to develop the Bank of Canada’s supervisory assessment criteria. 

 

You will apply your expertise in regulation, supervision, policy development, and risk assessment to help shape the Bank’s supervision approach for entities participating in the Consumer-Driven Banking Framework, with a particular focus on consumer protection requirements, including:

• Liability respecting the sharing, providing and receiving of consumer data;
• Express consent related to the receiving of consumer data, including the request, renewal, and withdrawal of express consent;
• Provision of information to consumers that is clear, simple and not misleading, including in respect of express consent, the sharing of consumer data and complaints handling procedures;
• Deletion of consumer data when consent is withdrawn or not renewed;
• Internal complaints handling processes, including record-keeping of complaints-related information; and
• Membership with the designated external complaints body. 

 

In this role, you will contribute to:

• Developing the Bank’s interpretation and application of legislative and regulatory requirements under the Consumer-Driven Banking Act;
• Drafting supervisory guidance to support compliance by participating entities;
• Designing reporting and supervisory processes aligned with the Bank’s new oversight mandate;
• Developing assessment criteria to evaluate compliance with consumer protection requirements; 
• Supporting the design of day-to-day supervisory processes and translating those processes into enabling IT systems; and
• Contributing to the Bank’s risk-base supervision of Consumer-Driven Banking participants. 

 

This is a unique opportunity to help build a new regulatory framework from the ground up and contribute directly to strengthening consumer trust, innovation, and effective oversight in Canada’s evolving financial services sector.

 

 

What you will need to succeed

• Consent Management – Experience developing, implementing, or assessing practices and controls related to the management of consumer consent.  
• Consumer Protection – Experience developing, implementing, or assessing practices related to: tracking, reviewing, and addressing consumer complaints; and providing consumer information that is clear, simple and not misleading.Strong ability to provide advice on a variety of issues related to consumer protection.
• Financial Sector Consumer Protection Frameworks – Experience supervising or complying with federal or provincial consumer protection regimes in the financial or other relevant sector.
• Risk Management and Compliance – Ability to conduct risk assessments to ensure compliance with consumer protection requirements, including in respect of the management of consumer consent, complaints handling, and the provision of related information to consumers.
• Project Management – Ability to manage projects, organize work, balance multiple priorities, propose effective approaches, and deliver under tight deadlines. Experience translating business requirements and supporting their adoption into IT processes using an agile approach.
• Collaboration – Ability to build positive working relationships by supporting team decisions, constructively addressing conflict, seeking diverse perspectives, and aligning work to team priorities while being responsive to requests for support.
• Effective Communication Skills – Strong oral and written communication skills, including an ability to adapt the delivery of your communication style to a wide variety of internal and external audiences.
• Problem Solving – Demonstrated ability to analyze statutory, financial, payments, and risk information and to apply innovative thinking to complex policy issues.
• Self-starter – Take initiative and proactively identify next steps to move work forward; comfortable working with ambiguity as new elements of the framework and its implementation evolve in parallel.
• Coaching – Apply strong leadership skills by mentoring and developing more junior staff in the team. 

 

Nice-to-have

• Knowledge of consumer-driven banking, including regulatory approaches and risk management.
• Experience developing and implementing supervisory/regulatory frameworks.
• Practical experience with, or knowledge of, risk-management practices at payments firms, technology firms, and financial institutions.
• Practical experience as a financial sector supervisor. 

 

Your education and experience
Your combined education and work experience demonstrate that you have the proficiency and skills for the role. This position requires a relevant degree/diploma and six (6) or more years of progressively responsible experience supervising entities compliance with consumer protection requirements and/or assisting entities in complying with such requirements. Your combination of education and professional experience demonstrates the depth of expertise, judgment, and analytical capability required to support the Bank of Canada’s supervisory mandate under Consumer Driven Banking.

 

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.

 

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 $126,765 to $149,135 (job grade 18)
• 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, 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.