Careers

Role

The Financial Services Department provides a sound financial framework for effective decision-making and accountability across the Bank. The department is responsible for the accounting and financial reporting of the Bank as a corporate entity. It provides financial management and reporting services, contract management, procurement, and payment services.

Organization

There are four teams within the department: Financial Policy and External Reporting, Accounting Operations, Contracts Management and Procurement, and Financial Management and Internal Reporting.

Financial Policy and External Reporting

• develops, maintains, and evaluates appropriate frameworks and controls to provide consistent and reliable information, both to the Corporate Management Committee and other departments to assist in managing the Bank’s financial resources in an effective and efficient manner;
• with policy authorities, develops and maintains practical financial policies that meet the business and internal control objectives of the Bank;
• reports on the financial position of the Bank, the Government of Canada debt, the Exchange Fund Account, and the Bank’s pension plans, through production of financial statements and accompanying notes for each of the reporting entitites;
• provides leadership and information to the Financial Services department on best practices and industry trends around financial policies, procedures, and accounting standards.

Accounting Operations

• provides accounting & payment services to the Bank, the Bank of Canada Pension Trust Fund, the Supplementary Trust Fund, and the Exchange Fund Account of Canada;
• provides back-office operations and accounting in support of the government’s debt program;
• provides corporate financial record-keeping services related to the safekeeping of bonds and other items, such as gold.

Contracts Management and Procurement

• manages the procurement process for goods and services for the Bank within the appropriate policies and guidelines;
• ensures that the procurement of goods and services is fair, open, and is implemented in an efficient and effective manner;
• develops and implements sound procurement practices.

Financial Management and Internal Reporting

• develops and manages effective and timely financial planning, budgeting, and reporting;
• establishes a continuous improvement process to ensure that financial reporting responds to clients' needs.