Description:
Reporting to the Director, Rules, the Lead, Rules and Standards is a senior subject matter expert responsible for the strategic design, maintenance, and modernization of the rules and standards governing Canada’s national payment systems.
The Lead drives a "Rules-first" model, ensuring that requirements for Lynx, ACSS, and RTR are proactively developed and aligned with regulatory expectations. They serve as the primary interface between Payments Canada’s operational teams, Payments Canada members, and regulators.
| A day in the life Responsibilities Of The Position Include Strategic Lead and Project Delivery
- Drive the rules workstream for high-priority projects (e.g. FSRB, RTR), ensuring rule amendments align with product and policy development.
- Shift Rules to a proactive model, engaging from project inception to influence sound policy and product design and organizational strategy.
- Drive the end-to-end rulemaking lifecycle, from drafting to internal vetting to member endorsement and formal regulatory approval.
- Align the rules framework with the Financial Risk Framework and the Bank of Canada’s Risk Management Standards.
Senior Subject Matter Expertise & Mentorship
- Maintain expert knowledge of Lynx, ACSS, and RTR systems and their operational frameworks.
- Advise leadership and product owners on the operational and rule implications of proposed system changes.
- Mentor staff to build organizational resilience and ensure critical rules knowledge is shared across the team.
- Provide rapid, rules-based guidance during system outages or member default scenarios.
Stakeholder Management & Negotiation
- Lead technical discussions and reporting for the Bank of Canada and the Department of Finance, ensuring compliance with established MOUs.
- Represent the Rules department on senior committees, managing policy friction between incumbents and new entrants (e.g. PSPs) with a consistent legal stance.
- Drive member engagement and Working Groups to effectively synthesize and integrate industry feedback into rule development.
- Navigate complex negotiations to reach consensus on technical standards, escalating issues to senior committees (e.g., MAC, SAC) as required.
| What you need to be successful
- Post-secondary degree in Law, Public Policy, Business Administration, or a related field. A graduate degree (e.g., MBA, LLM) is considered a strong asset.
- Minimum of seven (7) years of experience in regulatory affairs, policy development, legal drafting, or senior business analysis within the financial services industry.
- Deep expertise in the Canadian payments landscape, including the Canadian Payments Act and the Payment Clearing and Settlement Act.
- Proven ability to influence senior stakeholders and lead cross-functional teams in a high-pressure, "rules-first" environment.
- Exceptional drafting skills with the ability to translate complex legal and technical requirements into clear, binding rules.
- Eligibility to successfully complete background checks that will be carried out by Payments Canada, including criminal, credit, identity, employment, and education checks.