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 national central banks of the ESCB, international governmental organisations or other employers performing central banking or banking supervision tasks within the framework of the Eurosystem
Salary
F/G (bracket 1 - step 1) full time monthly net salary: €7,296 plus benefits, for further information see
what we offer.
Working time
Full time
Place of work
Frankfurt am Main, Germany
Closing date
22.09.2022
Your team
You will be part of the Stress Test Modelling Division in the Directorate General Macroprudential
Policy and Financial Stability. In your role as a Financial Stability Expert you will contribute to either (1) the ECB/Single Supervisory Mechanism part of the 2023 EU-wide stress test coordinated by the European Banking Authority (EBA), in particular the top-down, model-based part of the quality assurance process and related model-based macroprudential analyses; or (2) macroprudential policy and regulatory impact assessments at the national and euro area level, carried out using a variety of analytical tools.
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 contributing to the 2021 EBA stress test, you will:
- run top-down stress-testing tools and conduct quantitative sensitivity analyses;
- critically review bottom-up stress test results produced by banks by comparing them with
- top-down results;
- contribute to top-down analyses of the results, including second-round contagion and macro
- feedback effects;
- develop new and refine existing top-down impact assessment tools, including profitability, credit and market risk models, potentially leveraging transaction-level data on lending, repo and derivatives markets;
- liaise with other stakeholders notably ECB Banking Supervision, national
- competent authorities (NCAs) and the EBA.
As a Financial Stability Expert contributing to macroprudential policy impact assessments, you will:
- run dynamic, macro-micro stress test models to provide a macroprudential perspective to the 2023 EU-wide stress test;
- run macroprudential impact assessment tools to quantify the likely impact of macroprudential
- policy measures at the level of both the euro area and individual countries;
- develop new and refine existing macroprudential impact assessment tools, including macro
- stress-testing tools and models of linkages between the financial and non-financial sectors;
- contribute to the macroprudential policy process.
These positions offer you a unique opportunity to contribute to European financial stability and to learn from some of the best experts in the field of stress testing and macroprudential 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
Essential:
- a master’s degree or equivalent in economics, finance or another relevant field (see How you can join us for details on degree equivalences);
- a working knowledge of statistical and econometric software packages (such as Stata, Python, Dynare, R and 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, according to the Common European Framework of Reference for Languages.
For the position contributing to the 2023 EBA stress test:
- in addition to the above, a minimum of two years’ professional experience in stress testing, preferably top-down, ideally with risk-specific expertise.
For the position contributing to macroprudential policy impact assessments:
- in addition to the above, a minimum of two years’ professional experience in the quantitative analysis of macroprudential policy measures and regulatory changes, preferably by means of model-based approaches.
Desired:
- a PhD and a publication record in an area relevant to the work of the Division.
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 be part of our team and to develop and use your skills and competencies to achieve the aims of this position.
Working modalities
We would be happy to discuss a part-time arrangement for this role.
Further information
The contracts offered will be short-term ESCB/IO, the appointment being for six to nine months as of the exact starting date of the selected persons, extendable to up to 36 months.
For selected weeks, on-site presence in the ECB’s Frankfurt headquarters may be required for certain key phases of the project timeline.
For additional information on this specific vacancy, you can speak to the hiring manager, Costanza Rodriguez d’Acri, on +49 (0)69 1344 8474 between 16:00 and 18:00 on Wednesday, 7 September 2022 or between 13:00 and 14:30 on Friday, 9 September 2022.
Application and selection process
The recruitment process for this position will be conducted remotely. It will include an interview.
If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of
How we hire), from which you might be considered for similar positions within the ECB.
