Traineeships in Macroprudential Policy and Financial Stability

Students and graduates
Macroprudential Policy & Financial Stability
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General Information

Type of contract Traineeship

Who can apply? EU nationals eligible for our traineeship programme (see further information section)

Grant The trainee grant is €1,070 per month plus an accommodation allowance (see further information section)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 14.10.2021

Your team

You will be part of the Directorate General Macroprudential Policy and Financial Stability. Our Directorate General has approximately 100 staff members providing analyses and policy advice on issues relating to financial stability, financial regulation and macroprudential policy. In particular, we identify and measure systemic risks, and assess the impact of regulations and macroprudential measures. We work on policy strategy and coordination, as well as challenges facing the banking and non-banking sectors. We are also working on a financial system-wide assessment of risks and vulnerabilities resulting from the coronavirus (COVID-19) pandemic. We are currently looking for trainees in the Macroprudential Policy Division, the Systemic Risk and Financial Institutions Division, the Market-based Finance Division and the Financial Regulation and Policy Division.

In the area of macroprudential policy, we identify and monitor systemic risks at the country level to inform the potential activation of macroprudential tools. In addition, we design, assess and propose macroprudential policy measures in countries participating in European banking supervision and evaluate their impact ex post.

In the area of systemic risk and financial institutions, we analyse developments in the banking sector and the broader financial system in the euro area from a systemic risk perspective. We coordinate the production of the ECB’s Financial Stability Review. We also assess and propose structural macroprudential policy measures for systemic banks.

In the area of market-based finance, we assess systemic risks arising from the activities and behaviours of non-bank financial intermediaries and market participants. We also monitor and assess financial stability risks in financial markets and coordinate the market intelligence activities of the Directorate General.

In the area of financial regulation, we analyse policy issues relating to financial regulation from a financial stability and financial integration perspective. We conduct impact analysis on regulatory developments to assess the effectiveness of adopted or proposed reforms from a macroprudential perspective. We also contribute to European and international policy discussions on regulatory and supervisory issues.

In your role as a trainee, you will be part of a team with approximately 20 members of staff responsible for policy-relevant analysis, model development and coordination of the ECB’s views on the issues outlined above. You will work closely with one or two experts, contributing to projects that are of relevance to the division to which you are assigned.

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 trainee, you will:
  • participate actively in the general work of the division to which you are assigned, including: (i) contributing to analyses for regular internal and external publications such as the Financial Stability Review; (ii) contributing to research on current questions of interest to the Directorate General; and (iii) helping to prepare presentations for management and senior management;
  • contribute – through data collection and research assistance, including code development – to analytical projects on current questions of interest to the Directorate General;
  • maintain, update and further develop databases for systemic risk identification and macroprudential policy analysis, as well as for financial and real sector developments;
  • develop user visualisation tools and programs/code for efficient data processing, while facilitating user access to complex datasets.

The position offers excellent opportunities to become familiar with the area of macroprudential policy and financial stability through different tasks and projects. You will be able to develop your potential and quickly have a real impact on the work of the division to which you are assigned. As a trainee, you will have the opportunity to work alongside committed and qualified colleagues and leaders in the field of financial stability. 

You will be able to attend a wide range of seminars and access the ECB’s library, as well as computing, programming and statistical resources. You will have an excellent opportunity to network, engage with other employees and increase your personal awareness and business knowledge. 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 bachelor’s degree or higher in finance, economics, statistics, mathematics, engineering, business administration (with a focus on accounting), law (with a focus on financial markets), physics, computer science, or a related discipline;
  • an advanced knowledge of MS Office, in particular Excel;
  • some experience in preparing, handling and analysing datasets based on various data sources;
  • 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 master’s degree, or studies towards a master’s degree that are close to completion, in finance, economics, law (with a focus on financial markets), statistics, mathematics, engineering, business administration (with a focus on accounting), physics, computer science, or a related discipline;
  • expertise in financial sector analysis, policy and/or regulation, and/or in macroeconomics;
  • good analytical ability and familiarity with macroeconomic and financial market data services software or with official financial sector statistics;
  • good IT and programming skills and knowledge of programming languages/econometric software (e.g. SQL, R, MATLAB, Stata, Python and/or EViews);
  • some experience in one or more of the following fields: econometrics (e.g. macroeconometrics, microeconometrics, time series analysis, financial econometrics, panel data econometrics); analysis of financial statements (e.g. balance sheet information issued by banks and other financial institutions);
  • familiarity with a broad range of standard databases of macroeconomic and financial data (e.g. Refinitiv Datastream, Bloomberg, Refinitiv Eikon, Haver Analytics, Refinitiv Lipper, EPFR Global).

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

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 keen to be part of our team and to use your skills and competencies to achieve the objectives of this position.

Further information

The length of the traineeship will be between 3 and 12 months in total.

The earliest starting date will be mid-January 2022, while additional options are available throughout 2022.

Application and selection process

Further information on how to join us is available on our website.

The recruitment process for this position will include an online interview.