Sheryl served as Deputy Governor of the Bank of Canada from 1994-2008. In addition to sharing collective responsibility for monetary policy and financial system stability as a member of the Governing Council, she held various executive responsibilities including for financial markets, funds management, banking services, and assessment of the Canadian economy in support of monetary policy. Sheryl chaired the Markets Committee at the Bank for International Settlements from 2003-2006. Prior to her service at the Bank of Canada, Sheryl worked for the Department of Finance of the government of Canada, as General Director of the Financial Sector Policy Branch, and as Director of the Economic Policy Branch. She was also Finance Counselor at the Canadian Embassy in Paris.