The Board of Directors of the Bank of Canada today announced that Carolyn Rogers has been appointed Senior Deputy Governor for a seven-year term, effective December 15, 2021. The selection was made by the independent members of the Bank’s Board and was approved by the federal Cabinet. Ms. Rogers succeeds Carolyn A. Wilkins, who resigned from the Bank on December 9, 2020.
As Senior Deputy Governor, Ms. Rogers will oversee the Bank’s strategic planning and operations, and provide leadership to the Bank’s role in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, she will share responsibility for the conduct of monetary policy. She will also be a member of the Bank’s Board of Directors.
“Carolyn Rogers’ wide-ranging experience and unique set of skills superbly complement those of Governor Tiff Macklem and rest of the Bank’s Governing Council,” said Claire Kennedy, Lead Director and Chair of the Special Committee of the Board of Directors. “Her deep knowledge of the Canadian financial system, federal and provincial financial institutions, and payments systems will be invaluable to the Bank in its financial stability responsibilities, and its continued work on payments modernization, central bank digital currency, climate risks and the digitalization of the economy and financial system.”
Governor Tiff Macklem warmly welcomed Ms. Rogers to the new role: “I am delighted that Carolyn Rogers will be joining our team. Her domestic and international experience will bring a diverse perspective to the Bank. She is also a strong senior leader and strategic thinker – invaluable skills as the Bank charts an ambitious path to best serve Canadians.”
A native of Winnipeg, Ms. Rogers currently serves as Secretary General of the Basel Committee on Banking Supervision. From 2016 to 2019, Ms. Rogers served as Assistant Superintendent, Regulation Sector at the Office of the Superintendent of Financial Institutions (OSFI), where she was responsible for OSFI’s policy-related functions, including capital, accounting, and legislation. Prior to joining OSFI, Ms. Rogers served as Superintendent and Chief Executive Officer of the integrated financial sector regulator of British Columbia, the Financial Institutions Commission (FICOM) from 2010 to 2016. She chaired the Independent Advisory Group (IAG) on Real Estate Regulation in British Columbia. She also chaired the Canadian Council of Insurance Regulators and the Canadian Credit Union Prudential Supervisors’ Association.
Before entering the provincial public service, Ms. Rogers worked in various roles in the private sector, including as Chief Financial Officer and Chief Executive Officer of a private company. She also worked in the financial services sector at several credit union organizations and a major bank.
Ms. Rogers is a Chartered Professional Accountant, holds a Bachelor of Arts from Brandon University, a Master of Business Administration (MBA) from Queen’s University, and has completed the Institute of Corporate Directors program.