General Information
Type of contract
Fixed-term contract, which may be extended subject to individual performance and organisational needs
Who can apply?
EU nationals
Salary
F/G (bracket 1 - step 1) full time monthly net salary: €5,743 plus benefits, for further information see
what we offer.
Working time
Full time
Place of work
Frankfurt am Main, Germany
Closing date
31.08.2021
Your team
You will be part of the Financial Law Division in the Directorate General Legal Services. Our Division provides legal advice and support relating to the ECB’s monetary policy, foreign reserves and own funds management, financial market infrastructures (FMIs), EU financial regulation and economic governance, and ECB statistical law and data management. We also represent the ECB in litigation before the Court of Justice of the EU.
Matters the Division is currently working on include the ECB’s asset purchase programmes; the incorporation of climate change considerations into the monetary policy framework; TARGET2, T2S and their future consolidation; and the digital euro project. Our lawyers also regularly prepare ECB opinions on draft EU and national legislation.
In your role as Legal Counsel, you will be part of a team responsible for legal advice on FMIs and payments and you will work closely with the Directorate General Market Infrastructure and Payments.
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 Legal Counsel in the Financial Law Division you will:
- provide legal advice and contribute to the drafting of legal acts and agreements relevant to:
(i) the regulation, governance and operation of Eurosystem-owned and operated market infrastructures and platforms;
(ii) the role and functions of non-Eurosystem-owned and operated FMIs;
(III) the oversight of FMIs and systemically important payment systems;
(iv) Eurosystem projects, both existing and under investigation, including the digital euro project, the TARGET2/T2S consolidation project, the development of the Eurosystem Collateral Management System and the expansion of the functionalities of TARGET Instant Payment Settlement (TIPS);
- contribute to the preparation of documentation on the above topics for European System of Central Banks (ESCB) committees and the ECB decision-making bodies;
- engage and closely collaborate with colleagues within the team, across the Directorates General Legal Services and Market Infrastructure and Payments and at ESCB national central banks;
- contribute to the preparation of ECB opinions on EU and national draft legislation.
The position offers excellent opportunities to actively contribute to legal assessments in a multi-jurisdictional environment, shape the legal framework for the ECB’s activities in the field of payments and other FMIs and contribute to the development of EU financial market legislation. 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 law, preferably obtained in an EU Member State (click here for details on degree equivalences);
- excellent general financial law expertise, both theoretical and practical, demonstrated through your educational background or experience;
- sound knowledge of the roles and functions of FMIs in general, and Eurosystem infrastructures and platforms in particular (notably TARGET2, T2S and TIPS), ideally demonstrated through at least two years of prior experience in this field, for example with a central bank, a law firm or the legal function of an FMI active in providing payment or securities settlement or central clearing services;
- good analytical and drafting skills;
- 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 good grasp of general EU law (including EU legal principles), ECB/ESCB primary law and the secondary legal framework of the ECB/ESCB;
- sound knowledge of existing and prospective EU financial regulation (including the SFD, the Collateral Directive, the CSDR, EMIR, the CCP Recovery and Resolution Regulation, AMLD, NIS Directive, MiCA, DORA) and principles (e.g. IOSCO PFMIs) relevant to the roles, functions and operation of FMIs;
- a master’s (LL.M) degree and/or a PhD in financial or EU law;
- admission to the bar.
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 fixed-term, the appointment being for two years as of the exact starting date of the selected person.
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.
Application and selection process
The recruitment process for this position will be conducted remotely. It may include – for the candidates invited to participate in the selection phase – a written exercise, a presentation and interviews.
