Help wanted: Deputy governor for Bank of Canada

Tue Dec 2, 2008 3:57pm EST
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TORONTO (Reuters) - The Bank of Canada has begun its search to replace former Deputy Governor Sheryl Kennedy during a period when the central bank is working to address the "immediate crisis and to develop a more sustainable, open global financial system."

Applications for the deputy governor's job are open until January 5, with applications being handled by executive search firm Ray & Berndtson.

Among qualifications, the central bank is looking for a candidate who possesses "excellent knowledge of macroeconomics, monetary theory and financial markets", and who can operate effectively in Canada's two official languages, English and French.

The new deputy governor will sit on the bank's governing council -- the body that makes decisions on interest rates -- as well as help communicate the bank's policies.

"At few times in its history has the Bank of Canada played a more vital role in shaping the economic and financial well-being of Canadians," the job posting said. "The tumult in financial markets across the globe has required unprecedented initiatives on the part of the bank to maintain confidence in our financial system and to provide support for our economy."

Kennedy stepped down as of December 1 to "pursue other interests." She was one of six members of the bank's governing council -- along with the governor, senior deputy governor, and three other deputy governors -- and had worked at the bank since being appointed deputy governor in 1994.

(Reporting by Ka Yan Ng; editing by Rob Wilson)