The Board of Directors of the Bank of Canada today announced that Carolyn Wilkins has been appointed Senior Deputy Governor for a term of seven years beginning 2 May 2014. The selection was made by the independent members of the Bank’s Board and was approved by the federal Cabinet.

Ms. Wilkins, who joined the Bank in 2001, is currently Adviser to Governor Stephen S. Poloz. In this capacity, she is responsible for overseeing the Bank’s policy and research work on the Canadian economy, its interaction with the financial system, and monetary policy. She also serves as Secretary to the Bank’s Governing Council, and leads the preparation of the Bank’s quarterly Monetary Policy Reports. Ms. Wilkins replaces Tiff Macklem, who will resign from the Bank on 1 May to become Dean of University of Toronto’s Rotman School of Management.

Governor Poloz warmly welcomed Ms. Wilkins to the new role. “I am absolutely delighted with this appointment. Carolyn brings to this role a rich and varied background in monetary policy research, economic forecasting, financial markets and regulatory analysis, and truly exceptional leadership skills. Carolyn will make a tremendous Senior Deputy Governor, and I am thrilled to be working more closely with her,” said Governor Poloz.

As Senior Deputy Governor, Ms. Wilkins will oversee the Bank’s strategic planning and operations and share responsibility for the conduct of monetary policy as a member of the Bank’s Governing Council. She will also be a member of the Bank’s Board of Directors.

“The Board of Directors is proud to appoint Carolyn Wilkins as our new Senior Deputy Governor. Carolyn’s extensive experience in policy making, crisis management and the implementation of new financial market infrastructure makes her the ideal choice to assume this critical role at the Bank of Canada,” said Philip Deck, the Director who led the selection process.

Ms. Wilkins, who was born in Peterborough, Ontario, holds an Honours BA in Economics from Wilfrid Laurier University and an MA in Economics from the University of Western Ontario.

In addition to her roles at the Bank, Ms. Wilkins represents Canada on the Basel Committee on Banking Supervision (BCBS) and chairs the BCBS Working Group on Liquidity. From 2011 until her appointment as Adviser in 2013, Ms. Wilkins was Chief of the Bank’s Financial Stability Department. Ms. Wilkins also has held a broad range of senior analytical roles at the federal Department of Finance and the Privy Council Office.