04/11/2014 05:06 EDT | Updated 06/11/2014 05:59 EDT

Bank of Canada names Carolyn Wilkins as new senior deputy governor

OTTAWA - The Bank of Canada has appointed Carolyn Wilkins as the central bank's new senior deputy governor.

Wilkins, who is currently an adviser, joined the bank in 2001. She will serve a seven-year term in her new position beginning May 2.

The bank says Wilkins' responsibilities will include overseeing the central bank's strategic planning and operations, and a position on the bank's Board of Directors.

Before becoming an adviser at the bank, Wilkins was the head of bank's financial stability department, and worked in various roles in the Finance Department and the Privy Council Office.

She replaces Tiff Macklem, who leaves the central bank on May 1 to be dean of the University of Toronto's Rotman School of Management.