The Board of Directors of the Bank of Canada has initiated a recruitment process to fill the external Deputy Governor position left vacant by the appointment of Nicolas Vincent as a full-time Deputy Governor. The Board has formed a selection committee and retained recruitment firm Egon Zehnder to assist with the search process.
“The Bank has been operating in a rapidly changing and shock-prone economic environment, amid heightened uncertainty and longer-term structural change” said Bank of Canada Governor Tiff Macklem. “It’s more important than ever to bring in policymakers with fresh perspectives and a diverse set of skills.”
The Bank created the role of external Deputy Governor in 2022 with the goal of bringing fresh and diverse perspectives to strengthen its monetary policy deliberations and financial stability assessments. External Deputy Governor appointments are part-time roles for a two-year term, with the possibility of extension for an additional one or two years. During their terms, external Deputy Governors contribute directly to the formulation of monetary policy, the assessment of financial stability risks, and the development of the Bank's strategic thinking on economic and financial matters. They also play an important role in the Bank's communications and outreach activities.
“As members of Governing Council, external Deputy Governors have demonstrated their value in bringing complementary experience and expertise to the table,” said Anne Whelan, Lead Independent Director. “The successful candidate will have the opportunity to further enrich Governing Council deliberations and contribute directly to economic and financial policy decisions affecting Canadians.”
The Bank’s selection committee is seeking outstanding candidates from a broad range of disciplines and backgrounds, with extensive senior-level experience in economics, finance, financial markets or related fields and the ability to assess and communicate complex economic and financial issues. Interested candidates are encouraged to review the Executive Brief for the role and contact Egon Zehnder to discuss their candidacy at: ExternalDG-SGexterne@egonzehnder.com