Financial Stability Experts – Stress Test Modelling

Analysis and Policy Advice
Experienced
Macroprudential Policy & Financial Stability
4039
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General Information

Who can apply? EU nationals

Salary F/G (1) (minimum full time monthly net salary €4,914 and benefits, see further information section)

Role specialisation FinancialStability&MacroprudentialPolicy

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 25.08.2021

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; (ii) supporting the microprudential stress-testing activities of the ECB and European supervisory authorities by providing scenarios and advanced analytical input; (iii) providing quantitative models to assess the potential impact of systemic risks on the stability of the euro area/EU financial system and to calibrate macroprudential measures; and (iv) contributing to European and international discussions on the resilience of the financial sector.

In your role as a Financial Stability Expert, you will contribute to the Division’s stress-testing infrastructure, including both models and tools, with a particular focus on the banking sector and its vulnerabilities. You will work closely with other members of the team as well as colleagues from the ECB and national authorities.

More specifically, you will work with our stress-testing teams. We are looking for candidates with technical experience of econometric modelling and IT infrastructure as well as practical experience of large-scale stress test exercises to contribute to the development of complex risk models. 

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:
  • contribute to the development of the ECB’s top-down stress test models, working closely with colleagues to develop analytical tools involving state-of-the-art methodologies;
  • provide technical input in a variety of areas, such as the development of empirical models that use granular datasets, conditional forecasting based on a variety of scenarios, and the development of IT tools related to modelling activities;
  • contribute to the Financial Stability Committee’s Working Group on Stress Testing and similar bodies in other European institutions; 
  • collaborate with relevant stakeholders, including from the wider Directorate General, ECB Banking Supervision and national authorities.

The position offers you excellent opportunities to play an important role in implementing new developments in stress testing and therefore help safeguard the stability of the financial system in the euro area and the EU. 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, business administration, engineering or another relevant field (click here for details on degree equivalences);
  • in addition to the above, a minimum of two years’ experience in analysing financial stability developments, with a focus on the role of banks; 
  • practical experience in impact assessments of risks and bank profitability, as demonstrated by participation in at least one large-scale stress-testing exercise; 
  • in-depth knowledge of the mechanics of empirical methods applied to macro, financial and banking topics;
  • experience in providing technical input to analytical projects, including converting technical results into risk assessment tools;
  • 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.

Desired: 
  • a PhD in economics, finance, business administration, engineering or another relevant field;
  • experience working in an international environment.


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

Temporary appointments may be extended or made permanent subject to organisational needs and budgetary constraints. This may result in a staff member with a non-convertible fixed-term contract being offered a convertible contract in accordance with the ECB Conditions of Employment.

Some of the contracts will be convertible into permanent contracts after three years subject to individual performance and organisational needs.

For additional information on this specific vacancy, you can speak to the hiring manager, Carmelo Salleo, on +49 (0) 1722531347 between 10:00 and 12:00 on Friday, 30 July.

Application and selection process

For further information on how to join us, read more and check how to apply here.

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