Financial Stability Expert (ESCB/IO) - ESRB Secretariat

ESRB Secretariat

General Information

Type of contract Short-term contract, which may be extended to up to 36 months subject to individual performance and organisational needs

Contract end date 31.08.2023

Who can apply? EU nationals working for the international public sector organisation or EU organisations performing central banking or banking supervision tasks. Your current contract must extend at least 1 year beyond the end of the potential employment at the ECB

Salary F/G (1) (minimum full time monthly net salary €6243 and benefits, see further information section)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 22.08.2021

Your team

You will be part of the Secretariat of the European Systemic Risk Board (ESRB), a body of the European Union.

The ESRB brings together representatives from some 80 institutions as well as independent experts. It is responsible for the macroprudential oversight of the EU financial system and thus contributes to preventing and mitigating systemic risk. It collects and analyses information on a broad range of financial institutions and markets, monitors macro-financial developments and issues warnings and recommendations to policymakers and supervisors.

The ESRB Secretariat is part of the European Central Bank (ECB). The Secretariat provides analytical, statistical, logistical and administrative support to the ESRB. Our tasks include identifying and analysing systemic risk to the EU financial system, proposing macroprudential policies, assessing the macroprudential policies of EU Member States, preparing ESRB warnings/recommendations and monitoring their implementation, cooperating with supervisory and other macroprudential authorities, supporting ESRB working groups and preparing documents for meetings of the ESRB General Board. 

The ESRB is looking for a Financial Stability Expert to work primarily on macroprudential topics in the area of asset management and investment funds. 

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply irrespective of age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.

Your role

As a Financial Stability Expert, you will:
  • analyse developments in the financial sector, particularly in investment funds, to identify risks to financial stability in the EU, and draft policy notes highlighting these risks and proposing measures to address them;
  • contribute to the ESRB Secretariat’s input into implementing and further developing the macroprudential policy framework in Europe;
  • contribute to ESRB warnings and recommendations aimed at preventing or mitigating systemic risk; 
  • provide analytical and Secretariat support to ESRB committees and working groups and represent the ESRB Secretariat in these forums;
  • work closely with colleagues in the ESRB Secretariat and the ESRB community and establish strong working relationships with colleagues in other business areas of the ECB;
  • engage with ESRB stakeholders to ensure open and effective communication across different authorities;
  • contribute to the preparation of reports, papers and presentations.

The position offers you excellent opportunities to work at the heart of macroprudential policymaking in Europe and to interact with numerous stakeholders. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens. 

Qualifications, experience and skills

  • a master’s degree or equivalent in economics, finance, or another relevant field (for details on degree equivalences, click here for details on degree equivalences;
  • at least three years’ professional experience in financial stability analysis, financial markets and/or asset management or in investment fund policies, asset management, and/or investment fund supervision at a central bank, a supervisory authority , another institution of the ESRB or an international organisation (e.g. the Organisation for Economic Co-operation and Development, the International Monetary Fund or the Bank for International Settlements);
  • a sound understanding of the EU macroprudential framework, economics, financial institutions, financial markets and financial regulation;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

  • experience in advising policymakers or decision-making bodies at a central bank, supervisory authority or an international organisation, with a focus on macroprudential policy; 
  • experience working in international expert groups and/or supporting/coordinating such groups, as well as experience working in multidisciplinary teams comprised of economists, financial regulators, financial market experts, lawyers or microprudential and macroprudential experts;
  • experience in programming and/or analysing (large) datasets, in particular using tools such as R, Python or SQL.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

You are motivated to contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe.
You are motivated to be part of our team and to develop and use your skills and competencies to achieve the objectives of this position.

Further information

The contract offered will be short-term ESCB/IO, the appointment being for 24 months as of the exact starting date of the selected person, extendable to up to 36 months. 

For additional information on this specific vacancy, you can arrange to speak to the hiring manager, Francesco Mazzaferro, by sending an email to

Application and selection process

For further information on how to join us, read more.

The recruitment process for this position will be conducted remotely. It will include a written exercise, a presentation and online interviews via WebEx.