Thomas Thorn

Thomas currently serves as a Principal Analyst at the Bank of Canada. In this role, Thomas focuses on financial sector monitoring and regulatory reform. Topics of particular interest that Thomas has worked on relate to shadow banking, over-the-counter derivatives, and financial benchmark reform. Through his work, Thomas has had the opportunity to work at the Financial Stability Board in Switzerland and play a role in shaping the global financial system. Some of the highlights of working at the Bank for Thomas are the dedicated people and challenging nature of the work.

Recently, the focus of his work has been on financial benchmark reform. Canada currently has an interest rate benchmark, the Canadian Dollar Offered Rate, that is referenced in over $20 trillion worth of securities. This interest rate will stop being published on June 28^th 2024, and Thomas is working to help make Canada’s transition away from this interest rate go as smoothly as possible.

Thomas started his post-secondary education without knowing what career he would like to pursue. The inspiration to study economics started by reading an economist’s blog. The author agreed with the conclusions of another economist but disagreed with his methodology and wrote at length about his objections. Thomas was interested in the focus on the process behind the conclusions rather than just the conclusions themselves. Thomas enrolled in a few economics courses to learn more, and the rest is history.

Thomas completed his BSc in economics at the University of Victoria and then went on to complete his MA in economics at UVic as well. Thomas felt that the BSc program had prepared him well for his graduate studies. The relationships he built with professors during his undergraduate degree motivated him to stay at UVic for his graduate studies.

When reflecting on his own experience as a student, Thomas’ advice for our current students is:

Don't underestimate the importance of being a good writer. Your degree can open a lot of doors for you, but it's difficult to get much further than the doorway if you can't write well.

Look ahead. Find job postings online for the type of career you think you want when you graduate. Note the requirements in these postings: work to make sure that when it's time to apply for these jobs you already have the right training and experience.

Be a good person to work with. We live in a world of specialization, which means whatever field you end up working in will eventually seem quite small. Former coworkers may end up in hiring positions. If people like working with you, you'll end up having a lot of career options.

If you find a good mentor, let them know how much you appreciate their advice.