Senior Economist - Model Development

Senior Economist - Model Development

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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.

In addition to the position being staffed, this competition may be used to fill similar opportunities (Regular or Term) that become available at the same job grade. If you're interested in this type of role, we encourage you to apply.

What you need to know
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.

The Model Development Division (MDD) is responsible for the development and maintenance of a suite of macroeconomic models used for Staff economic projections and policy analysis. This division systematically supports the projection and policy recommendation process, for example, through model-based scenario analysis. MDD also produces and disseminates leading-edge research on key policy issues.

What you will do
We are seeking a Senior Economist to join the Model Development division, where you will work closely with a dynamic team of economists, mathematicians, computer engineers and data scientists to maintain a suite of state-of-the-art macroeconomic models and develop appropriate model infrastructure to support operational needs.

Under the direction of the Assistant Director, you will:

• contribute to the development, implementation and maintenance of the next generation of macroeconomic model for projection and policy analysis at the Bank of Canada
• support the team in understanding drivers of the Canadian economy and their relevance to the economic outlook and monetary policy through the application of advanced modelling expertise
• contribute to modelling projects related to the design of the Canadian monetary policy framework, which influence both monetary policy decision making and demonstrate Bank's intellectual leadership on the international stage
• conduct and deliver high-quality research to address challenging and complex emerging economic problems
• communicate analytical findings in a clear, concise, and economically intuitive manner to senior management and policymakers

What you need to succeed
You come from a strong background developing and working with macroeconomic models, especially dynamic stochastic general equilibrium (DSGE) models and empirical econometrics methods. You have a solid understanding of macroeconomics that allows you to think through complex economic issues from first principles.

In addition, you have:

• Extensive experience developing complex, large-scale macroeconomic models using MATLAB, Dynare, Iris, Python, Julia, or other modelling toolkits.
• A high degree of intellectual curiosity and commitment to continuous learning and self-development, proactively identifying emerging opportunities and translating them into forward-looking model development plans.
• Effective communication skills, both orally and in writing, engaging a variety of audiences and amplifying the impact of your work.
• Strong problem-solving skills, managing competing priorities and trade-offs, enabling sound decision-making under tight timelines, and ensuring timely project completion.
• A self-starter mindset, with a demonstrated ability to drive innovation in a collaborative environment by actively sharing ideas, facilitating knowledge exchange and encouraging constructive feedback to strengthen team outcomes.

Nice-to-have

• Publications involving the development or application of DSGE models that are relevant for monetary policy, production network and inflation dynamics.
• Experience of applying AI-based solutions to research, modelling, scenario analysis.
• Experience making model-based presentations and providing advice to policy makers.

Your education and experience
This position requires a master's degree in economics or finance and a minimum four years of relevant work experience or a PhD degree in economics with a minimum of two year of recent relevant experience relating to modelling and macroeconomic analysis or an equivalent combination of education and experience may be considered.

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. Although the position language requirement is English or French essential, we do encourage everyone to improve their second 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
• 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 "Senior Economist "

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 $111,051 to $130,649 (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, 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.