Finance Minister Joe Oliver Friday confirmed that the federal government has approved the appointment of Carolyn Wilkins as Senior Deputy Governor of the Bank of Canada, effective May 2.

Wilkins will replace Tiff Macklem, who has accepted the role of Dean of the Rotman School of Management at the University of Toronto.

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 of Canada, she held a number of senior analytical roles at the Department of Finance and the Privy Council Office.