Senior Business Systems Specialist - CEA Model Development

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.

What you will do
The primary responsibility of the Canadian Economic Analysis (CEA) Department is to provide high-quality economic analysis, projections and longer-term research that contribute to the Bank of Canada’s monetary policy function.

CEA’s work incorporates an increasingly broad range of economic perspectives emerging from two-way engagement with the Canadian public, businesses, civil society organizations and the academic community. The department plays an active role in the communication of monetary policy (by producing the Staff economic projection and giving interest rate recommendations) with these stakeholders and disseminating research at seminars and conferences, as well as through working papers and economic journals.

Under the direction of the director of the Model Development division,

• You contribute to the development and maintenance of fourth-generation macroeconomic model for projection and policy analysis at the Bank of Canada.
• You will provide hands-on architecture and engineering expertise, influence enterprise-level decision-making, and ensure delivery of secure, scalable, and compliant backend solutions integrated into the Bank’s modelling platforms.
• You will work closely with a dynamic team of economists, mathematicians, software engineers and data scientists to maintain a suite of state-of-the-art macroeconomic models and develop appropriate model infrastructure to support operation needs.

Your responsibilities will include:

• Write, analyse and optimize code for quality, efficiency, and performance.
• Contribute directly to the development of the Next-Generation of macroeconomic models that are relevant for monetary policy
• Communicate analytical findings in a clear, concise, and economically intuitive manner to senior management and policymakers
• Effectively build and maintain working relationships and collaborating with a wide range of internal and external modelling and research community
• Collaborate with software engineers to identify areas where new technologies can increase productivity, code quality, and development velocity.
• Design and implementation of MLOps pipelines using CI/CD best practices for ML workflows.

What you need to succeed

You have a strong software development background and practical experience integrating the latest programming techniques and technologies into the software development lifecycle. You have working experience with macroeconomic models, including dynamic stochastic general equilibrium (DSGE) models. In addition, you have:

• Experience delivering major software development projects
• Experience developing complex, large-scale macroeconomic models using MATLAB, Dynare, Iris, Python, Julia, or other relevant toolkits
• Expertise with best practice in source-code management, version-control, and collaborative source-code development
• Experience with machine learning model training, deployment, and monitoring at scale.
• Knowledgeable in ML Engineering, including ML lifecycle management, model versioning, and serving.
• Familiarity with ML frameworks: PyTorch, TensorFlow, scikit-learn, Spark MLlib, Kubeflow.
• Strong oral and written communication skills
• You demonstrate competencies of being a self-starter who is highly motivated, driven for innovation. You must demonstrate strong quantitative competencies and collaboration skills to work effectively independently and with teams. You have a strong ability to solve complex problems and foster knowledge exchange. You have high adaptability to evolving priorities.

Nice-to-have:

• Publications involving the development or application of DSGE models that are relevant for monetary policy, production network and inflation dynamics
• Demonstrated knowledge and experience working with programming languages such as MATLAB, Python, Julia or other programming language for economic modelling and research.
• Experience with presentation of model findings to non-technical audience.

Your education and experience

• University degree, or a master’s degree in computer science or economics and minimum five years of relevant work experience relating to software engineering or macroeconomic analysis
  or
• a PhD degree in computer science or economics with a minimum of one year of recent relevant experience relating to software engineering or macroeconomic analysis
  or
• an equivalent combination of education and experience may be considered

Language requirement
The Bank’s work environment is conducive to the use of both of Canada’s official languages - English and French. Although the position language requirement is English or French essential, we do encourage everyone to improve second their language proficiency for future career growth and to contribute towards fostering a bilingual environment.

What you need to know

• • Priority will be given to Canadian citizens and permanent residents
  • Security level required: Be eligible to obtain Reliability
  • There will be no relocation assistance provided
  • 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 $108,874 to $128,087 (job grade 17)
  • 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 and dental coverage that meets your needs
  • Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
  • Option to join the indexed, defined-benefit pension plan after 24 consecutive months of service

We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.