Data Scientist

Data Scientist

Take a central role

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. 

What you will do 
We are seeking  a Data Scientist driven to generate actionable insights and uncovergrowth opportunities. 

As a key member of the Bank’s data science community,you will support   economists by providing the data and analysis needed for policy making and research. 

This role is part of the  Analytic Solutions and Data Science team, reporting  to the Assistant Director, Data ScienceYou will contribute to key projects and services across the Bank’s analytic departments.

As a Data Scientist, you will contribute to data-driven projects, and apply sophisticated analytical techniques throughout all stage, including data extraction, transformation, validation, data exploration, and model design and evaluation. You will work with both structured and unstructured data from a various  internal and external sources. With a proactive mindset, you will find creative ways to develop tools and services that drives innovation.

Your work will include efforts to: 

• Develop, manage, and optimize data architectures and data pipelines as they relate to data science needs from our internal clients
• Apply your in-depth knowledge in machine learning,  artificial intelligence, and statistics to design, develop and implement new data experiments, predictive models and studies to help with the Bank’s policy and research requirements
• Apply your knowledge in statistical inference and economy to estimate economic models 
• Integrate data science work within the broader data support ecosystem at the Bank by working with partners from across  Data and Digital Office and Information Technology Services, with the objective of building robust and supportable data science solutions that support business processes

We are open to considering candidates interested in a secondment opportunity. 

What you need to succeed
We are looking for a Data Scientist who has excellent analytical and problem-solving skills, a self-starter and effective communicator who can share and adapt information and ideas to the target audiences, using clear and compelling written and oral communication skills. You have significant hands-on experience with end-to-end data science life cycle, with superior skills to contribute to and support a project from idea to experimentation to prototype to delivery.

You are committed to learning and self-development, are organized, able to set priorities to ensure follow-through and project completion in a timely manner and able to help with research and policy initiatives. 

You have proven experience and expertise in most of the following:

• Time-Series Model Development: Designing, building, and deploying advanced time-series models tailored to solve complex analytical challenges
• Economic Model Estimation: Applying techniques such as Markov Chain Monte Carlo (MCMC) and Parallel Tempering to estimate and refine economic models
• Cloud-Based Data Science: Proficiency in utilizing cloud computing platforms like Azure ML and Databricks for developing and deploying data science workflows and models
• Programming and Software Development: Strong skills in object-oriented programming and experience using languages such as MATLAB, Python, or R, along with their associated data science libraries

Nice-to-have 

• Economic Knowledge: A strong understanding of economics is highly valued and considered a significant asset
• Finance and Banking Expertise: Familiarity with finance, banking, and related data sources is an advantage
• Operational Expertise: Knowledge and experience with MLOps, DataOps, or DevOps practices are desirable
• While having a fully functional second language Level 5 proficiency is preferred, we understand that candidates may not meet this requirement at the time of application. We are open to considering applicants who demonstrate strong potential and a willingness to learn. For those selected, we are happy to provide training and support to help develop language skills to the required level over time.

Your education and experience
The position requires a completed Master’s degree or higher in a quantitative field such as Computer Science, Data Science, Economics, Statistics, or other related quantitative discipline; and a minimum of 4 years of experience in solving problems that require the use of advanced data science and statistical modelling or an equivalent combination of education and experience may be considered. 

What you need to know

• Language requirement: English and French essential (bilingual) with a minimum starting level of functional (level 4) in second official language. Training may be provided to help reach the required level of fully functional (level 5) in second official language.
• Priority will be given to Canadian citizens and permanent residents
• Security level required: Be eligible to obtain Reliability 
• There will be no relocation assistance provided
• Please save a copy of the job poster. Once the closing date has passed, it will no longer be available. 

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 substantial part 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 eight 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 $92,346 to $108,643 (job grade 16)
• The Bank offers an incentive for successfully meeting expectations at  5 to 7% of your base salary. The Bank offers additional performance pay (3%) 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 and dental coverage that meets your needs
• Extra vacation days (up to five each year) that you can purchase to add to your vacation entitlement
• Option to join the indexed, defined-benefit pension plan after 24 consecutive months of service

We wish to thank all applicants for their interest and effort in applying for this position. Only candidates selected for interviews will be contacted.