Bank of Canada begins search for its next deputy governor

The Bank of Canada has started its search for its next deputy governor, which it says will now be a part-time, non-executive role.

The fourth deputy governor of the central bank will replace Timothy Lane, who is set to retire on Sept. 16.

The bank says it is looking for an external candidate as it changes the nature of the role following a review.

The role will focus on contributing to monetary policy and financial stability mandates, and remain a member of the bank’s governing council.

The successful candidate will conduct the equivalent of 50 to 70 per cent of the full-time position.

A job posting, which is now available to the public online, advertises the role as a two-year contract position with an option to extend for one year.