General Information
Type of contract
Fixed-term contract which may be converted into a permanent contract after three years 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.
Role specialisation
General Banking Supervision
Working time
Full time
Place of work
Frankfurt am Main, Germany
Closing date
21.03.2024
Your team
Since 2014 the ECB has been responsible for supervising significant banking institutions as part of the Single Supervisory Mechanism (SSM), the system of banking supervision in Europe comprising the ECB and 21 national supervisory authorities.
First-line banking supervision under the SSM is composed of three main activities, which are organised under several directorates general at the ECB: 1) the vertical line, responsible for ongoing off-site supervision of portfolios of banks; 2) the horizontal line, which provides transversal assessments and benchmarks for the banking sector; and 3) on-site inspections and internal model investigations, which provide in-depth and focused assessments of specific risks or issues at individual banks.
The third of these activities is covered by the Directorate General On-site and Internal Model Inspections, which is seeking applicants for several Supervisor positions.
The Directorate General conducts on-site inspections, i.e. primarily at the bank’s premises, which entail in-depth investigations of risks, risk controls and governance, and internal model investigations, which assess the compliance of the internal models banks use to measure their risks and corresponding Pillar 1 capital requirements.
The inspection and investigation teams are composed of staff from both the Directorate General On-site and Internal Model Inspections and national supervisory authorities. Our Directorate General coordinates the planning and execution of the on-site supervisory programme. It develops and maintains comprehensive methodologies for the different on-site activities. It also ensures harmonised on-site approaches for the assessment of banks under the SSM and contributes to the identification of risks and supervisory priorities.
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 Supervisor, you may:
- actively participate in on-site inspections and internal model investigations, primarily at the premises of significant banking institutions;
- act as consistency reviewer and point of contact for inspection teams to ensure the quality of reports;
- contribute technical expertise to the inspection teams and build up subject matter expertise on a diverse set of risk categories (including business model and emerging risks, governance and risk management, capital, IT risk, credit risk, market risk, counterparty credit risk, operational risk, liquidity risk and interest rate risk) and a wide range of other topics (e.g. internal models, asset quality reviews, capital adequacy and inspection planning) in close contact with national supervisory authorities, Joint Supervisory Teams and the ECB’s horizontal functions;
- draft policy-related, methodological and operational documents (e.g. guidelines), work with more senior colleagues on the application of supervision/oversight policy, methodologies and standards, and contribute to the development of regulatory standards and interpretations in international fora and working groups;
- optimise, manage and integrate processes and tools to ensure the efficiency of inspections and investigations (especially for candidates assigned to the monitoring and reporting team), work as a project management officer and support benchmarking and horizontal analyses;
- engage with multiple stakeholders inside and outside the ECB.
The tasks and specific areas of expertise associated with the role of Supervisor may differ depending on the team to which successful candidates are assigned. Most of the positions advertised in this vacancy notice involve active participation in missions at the premises of SSM significant institutions, hence frequent travel in different countries for consecutive and extended periods of time will be required.
These positions offer you excellent opportunities to work on-site in a high-impact role, analyse topical supervisory issues, gain direct insights into the practices of significant banking institutions and discuss the results of your analysis both internally and with the supervised institution. You will also strengthen your inspection techniques, dealing with key supervisory processes in a multi-stakeholder environment, and will have the opportunity to further develop your ability to think analytically and challenge constructively, with a focus on results, teamwork, cooperation and communication.
We are seeking candidates for these roles who demonstrate the potential for growth, and we will support the selected candidates in their future development of the required knowledge, skills or competencies. 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 accounting, business administration, economics, finance, information technology, mathematics, physics, law, or another relevant field (see How you can join us for details on degree equivalences);
- in addition to the above, a minimum of five years of relevant professional experience, e.g. in the field of risk analysis/assessment at a banking supervisory authority, a financial institution, an audit or consultancy company, a regulatory body and/or a central bank;
- professional experience in at least one of the following areas: contributing to on-site inspections, internal model investigations or audits; in-depth prudential assessments of the banking sector’s risks and challenges; developing, validating and/or supervising internal models; risk assessments of banking operations;
- a sound understanding of European prudential regulation (financial and/or non-financial);
- sound communication and stakeholder management skills gained in a multicultural environment;
- 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:
- strong quantitative skills or experience in handling and analysing large data sets (for supervisors assigned to internal model investigations and for financial risk and capital inspections);
- experience in credit, market liquidity or counterparty credit risk (internal) models for Pillar 1 or Pillar 2 purposes (for supervisors assigned to internal model investigations);
- experience in audit, IT-risk management and measurement, internal governance & risk management assessments and/or other emerging risks such as digitalization of business models and climate risk (for supervisors assigned to non-financial risk inspections);
- Strong interest and motivation to go on-site at the premises of the inspected banks in various countries and possibly for extended periods of time;
- experience in banking supervision in the context of the SSM.
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 objectives of this position.
Working modalities
The work of the Directorate General On-site and Internal Model Inspections involves spending extended periods of time in banks for on-site missions but is also carried out at the premises of the ECB or remotely. This is complemented by an environment in which well-being and a good work-life balance are fostered. Playing a role in European banking supervision also entails collaborating in multinational and multicultural teams and operating in the context of different national frameworks, for which a strong ability to use different EU languages for business purposes is an asset.
We would be happy to discuss a part-time arrangement for these roles.
Further information
Several contracts will be convertible into permanent contracts after three years subject to individual performance and organisational needs. 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.
For additional information on this specific vacancy, you can speak to the Chair of the selection committee, Robert Lauter, on +49 (0)69 1344 5720 on March 5, 2024 between 14:00 and 15:00 or on March 11, 2024 between 11:00 and 12:00.
Application and selection process
The recruitment process for this position will be conducted remotely. It may include a short online interview in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – a written exercise, a presentation and 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.
