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July 5, 2022
Print | PDFDelivered by Associate Professor Logan McLeod
Dear chancellor, president, guests, graduands and families, my name is Logan McLeod, chair of the Department of Economics here at the Lazaridis School of Business and Economics. It is my pleasure to present to you today Carolyn Wilkins as the recipient of an honorary degree from Wilfrid Laurier University.
As we all tried to make sense of the world during the onslaught of the pandemic in early 2020, most of us migrated online to communicate with family, work with our colleagues, or learn with our professors, occasionally experiencing an internet service disruption, a muted microphone, or a scurrying pet in the background. Others worked tirelessly on the frontlines risking their health and safety.
In addition, a few plodded away covertly around the clock to ensure Canada’s financial system was sound to withstand the myriad of pressures on multiple sectors and that our economy had the necessary means to function properly.
One of these individuals, whom we are honouring here today, who was then senior deputy governor of the Bank of Canada, is known as the chief architect of its defenses during the early days of the pandemic. She relied on an encrypted espionage-like phone to communicate, for regular online platforms were not an option in the top echelons of government, presenting a potential national high-security breach.
Carolyn, who in June 2021 joined the Bank of England as an external member of its financial policy committee, is our esteemed alumna, graduating with an Honours Bachelor of Arts in Economics, class of 1987. In addition, Carolyn is also a senior research scholar at Princeton University’s Griswold Center for Economic Policy; sits on the board of directors at Intact Financial Corporation; and is a mentor for the blockchain stream at the Rotman School of Management’s Creative Destruction Lab.
After having worked at the Bank of Canada for 13 years, Carolyn made history in 2014 when she was appointed the senior deputy governor for a term of seven years, becoming the first woman to hold this high-profile position. In presiding over the bank's strategic planning and operations, and in sharing the critical duty of delivering a sound monetary policy, Carolyn was, in effect, directly responsible for the stability of our nation's economy. Playing a key role in the foundation of Canada's economic well-being has made her cognizant of the decisions enacted by the bank – from mortgage rates to inflation – and their impact on the lives of everyone across the nation, as well as overall confidence in the banking system.
Successfully navigating a career throughout such vital organizations requires, among many other things, a seasoned ability to motivate others. Carolyn sees leadership as a skill learned along the way. In her own words: “Every role that I’ve had at the bank has required a significant amount of leadership… In one way or another, my job was to get a team together and align ourselves on a common vision, and then work together to figure out what the best way was to achieve that objective.” Through trials and tribulations, Carolyn is driven to inspire lives of leadership for a greater purpose.
Carolyn is also proud of her Laurier roots and continues to give back. She sits on the Lazaridis School's Dean's Advisory Council in Ottawa, offering comprehensive economic perspectives and helping us expand our outreach in the nation’s capital. She was also the Lazaridis School's first economist-in-residence, returning to campus in 2014 to share her knowledge and experience with students. Being a trailblazer for women in her field with exceptional achievements, Carolyn won the J. Alex Murray Lazaridis School Alumni Award in 2015, recognizing her outstanding career success and service to Laurier.
And you need not look further than within your very own wallets! A cursory glance at each of the recently minted, crisp, government banknotes exhibits an array of vivid details pertaining to Canada and its heritage, but a closer look reveals signatories who stand behind the integrity these banknotes represent — a guarantee that continues to firmly establish Canada as one of the leading nations in the world. One of those signatures is Carolyn Wilkins’.
So, it is with great pleasure that we honour Carolyn today, and deservedly bestow upon her an honorary degree, and encourage her to keep up the tremendous momentum.
Madam Chancellor, I am instructed by the Senate of the university to request you to admit to the degree of Doctor of Laws, honoris causa, Carolyn Wilkins.