Ottawa, Ontario – Department of Finance
Finance Minister Joe Oliver today confirmed that the Government approved the appointment of Carolyn Wilkins as Senior Deputy Governor of the Bank of Canada, effective May 2, 2014.
Ms. Wilkins will replace Tiff Macklem, who has accepted the role of Dean of the Rotman School of Management at the University of Toronto.
Ms. Wilkins joined the Bank of Canada in 2001, occupying a broad range of increasingly senior positions until her appointment as Adviser to the Governor and Secretary to the Governing Council in August 2013. She currently represents Canada on the Basel Committee on Banking Supervision and chairs its Working Group on Liquidity. Prior to joining the Bank, she held a number of senior analytical roles at the Department of Finance and the Privy Council Office.
Quick Facts
- The Bank of Canada’s Senior Deputy Governor sits on the interest-rate setting Governing Council and is a member of the Board of Directors of the Bank.
- The Governor-In-Council (federal Cabinet) approved appointment is for a seven-year term that can be renewed at its conclusion for another term.
- The Bank of Canada has four core functions:
- It sets monetary policy to keep inflation low and stable and contribute to solid economic performance and rising living standards.
- It works with other agencies and market participants to promote a safe and efficient financial system.
- It is Canada’s sole bank note-issuing authority and is responsible for designing, producing, and distributing Canada’s bank notes.
- It is the fiscal agent of the Government of Canada, which entails several responsibilities relating to the management of public funds.
Quotes
“Carolyn Wilkins has a distinguished career in public service, and her experience in fiscal and monetary policy making, and knowledge of financial markets is extensive. This has been an extremely thorough process as we sought the best candidate to fill this critical role. I would also like to thank the outgoing Senior Deputy Governor, Tiff Macklem, for his many outstanding contributions to monetary policy, financial stability and to contributing to making the Bank of Canada a preeminent central bank.”
- Joe Oliver, Minister of Finance