Philippe Muller

Philippe Muller

Senior Director

Financial Markets
Strategic Leadership

Bio

Philippe Muller was appointed Senior Director of the Bank’s Financial Markets Department (FMD) in August 2018. Mr. Muller is responsible for the Department’s balance sheet, monetary policy & financial system operations as well as trading room IT applications.

Mr. Muller joined the Bank in 1997 and has held various positions within the monetary policy, financial stability and funds-management functions, progressing from analyst roles to his current position as Senior Director of FMD. Mr. Muller was previously Senior Director of the Bank’s Financial Risk Office, comprising three functional groups: Credit Rating Assessment, Middle Office and Reporting, and Risk Modelling. He possesses expertise in the areas of balance sheet management, monetary policy implementation, financial system soundness and efficiency, debt and treasury management, foreign exchange reserves management, and risk (treasury and credit) management. Mr. Muller has also acquired expertise in overseeing implementation of transformative IT application projects and Agile mindset. He holds a Master of Science degree in finance from HEC Montréal.

Staff discussion papers

Methodology for Assigning Credit Ratings to Sovereigns

Staff Discussion Paper 2017-7 Philippe Muller, Jérôme Bourque
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of investment counterparties. Traditionally, foreign exchange reserve and asset managers have relied on credit rating agencies (CRAs) as the main source for credit assessments.
Content Type(s): Staff research, Staff discussion papers Topic(s): Credit risk management, Foreign reserves management JEL Code(s): F, F3, F31, G, G2, G24, G28, G3, G32

Multilateral Development Bank Credit Rating Methodology: Overcoming the Challenges in Assessing Relative Credit Risk in Highly Rated Institutions Based on Public Data

Staff Discussion Paper 2017-6 David Xiao Chen, Philippe Muller, Hawa Wagué
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of counterparties. Traditionally, foreign exchange reserve managers and other investors have relied on credit rating agencies (CRAs) as the main source for credit assessments.
Content Type(s): Staff research, Staff discussion papers Topic(s): Credit risk management, Foreign reserves management JEL Code(s): F, F3, F31, G, G2, G24, G28, G3, G32

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Technical reports

Greater Transparency in Monetary Policy: Impact on Financial Markets

Technical Report No. 86 Philippe Muller, Mark Zelmer
Measures have been taken by the Bank of Canada to increase the transparency of Canadian monetary policy. This paper examines whether the greater transparency has improved financial markets' understanding of the conduct of monetary policy.
Content Type(s): Staff research, Technical reports Topic(s): Financial markets, Monetary policy implementation JEL Code(s): E, E5, E52, E58, G, G1, G14

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