Financial Stability Expert (ESCB/IO)

Analysis and Policy Advice
Macroprudential Policy & Financial Stability

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 31.07.2022

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)

Role specialisation FinancialStability&MacroprudentialPolicy

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 24.06.2021

Your team

You will be part of the Stress Test Modelling Division in the Directorate General Macroprudential
Policy and Financial Stability. 

Our Division has around 30 members of staff and is responsible for: (i) developing and maintaining the ECB models used to perform stress test exercises, with a focus on stress tests for macroprudential purposes; (ii) supporting the microprudential stress-testing activities of the ECB and European supervisory authorities by providing scenarios and advanced analytical input; (iii) helping to assess systemic risks in the context of the preparation of the Financial Stability Review; (iv) supporting the activities of the wider Directorate General by providing quantitative models that can be used to assess the potential impact of systemic risks on the stability of the euro area/EU financial system and to calibrate macroprudential measures; and (v) contributing to European and international discussions on the resilience of the financial sector, in particular by contributing to ECB publications and providing relevant analytical support to the European Systemic Risk Board.

Within the Division, you will join our Macroprudential Modelling team and participate in the policy use and development of a large-scale and complex macro-micro model (which models the dynamic interactions of 19 countries and 90 large banks). We are looking for strong experience in modelling bank-level data and sound programming skills.

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:
  • run the dynamic macro-micro model to provide timely assessments of financial stability risks, including those related to climate, prudential and regulatory policies both for the euro area and individual countries;
  • develop further and refine existing model mechanisms corresponding to the propagation of risks into banks’ balance sheets and banks’ behavioural reactions;
  • work at the frontier of econometric modelling, employing large granular bank and financial datasets, including regulatory and loan-level information.

This position offers you a unique opportunity to contribute to European financial stability and to learn from some of the best experts in the field of macroprudential banking sector stress testing and prudential policy impact assessment. 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, statistics, econometrics, applied mathematics, engineering  or another relevant field  (click here for details on degree equivalences);
  • in addition to the above, a minimum of two years of relevant work experience;
  • proven expertise working with highly granular bank or financial sector data, such as bank supervisory reports, bank loan or securities data;
  • applied knowledge of theoretical and empirical banking;
  • working knowledge of statistical and econometric software packages including Stata, and at least one of the following: Python, Dynare, R or MATLAB;
  • 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.

  • a PhD and a publication record in an area relevant to the work of the Division;
  • experience at a central bank or similar institution in preparing analytical reports and policy documents on topics related to financial stability or monetary policy;
  • experience in policy supervisory, regulatory or macroeconomic policy assessment.

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.

Working modalities

We are willing to discuss part-time arrangements.

Further information

The contract offered will be short-term ESCB/IO, the appointment being for 12 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 speak to the hiring manager, Katarzyna Budnik, on +49 (0) 172 132 6280 between 15:00 and 16:00 on Thursday, 10 June or between 15:00 and 16:00 on Monday, 14 June.

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 and interviews.