Advisor and Chief of Staff to the Governor and Senior Deputy Governor
Jill Vardy was appointed Advisor (Communications) and Chief of Staff to the Governor and Senior Deputy Governor, effective 3 January 2017. In this role, she provides strategic communications advice on major corporate and policy-related issues and works closely with Executive Council and department chiefs to maximize the work priorities and schedules of the Governor and Senior Deputy Governor. She also plays a key role in strategic thinking and engagement with the Bank’s partners and stakeholders.
Ms. Vardy spent 14 years covering economics, finance, government policy and the technology sector for The Financial Post (later incorporated into the National Post). After covering economics in Toronto, she spent six years as a Parliament Hill reporter in Ottawa and six years as the National Post’s senior technology writer and columnist. In addition to writing, she also appeared frequently as a business panelist on CBC radio and television and taught economics and business journalism at Carleton University.
Ms. Vardy joined the Bank of Canada’s Communications Department in 2002 as a speechwriter for the Governor and other members of Governing Council. She became Director, Planning and Public Affairs, in 2006. In 2008, she served as the department’s Acting Chief and was then named Deputy Chief. She became Chief of Communications in December 2010, a position she held until her current appointment.
Born in Corner Brook, Newfoundland, Ms. Vardy attended Mount Allison University and earned an honours degree in journalism from Carleton University.
While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments, shocks, and risks to their outlooks.
This paper discusses reputational risk in the context of central banking and explains why it matters to central banks. It begins with a general discussion of reputational risk within the broader framework of risk management.