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
E/F (bracket 1 - step 1) full time monthly net salary: €4,869 plus benefits, for further information see
what we offer.
Working time
Full time
On-call?
Yes
Place of work
Frankfurt am Main, Germany
Closing date
04.05.2022
Your team
You will be part of the Market Infrastructure Management Division in the Directorate General Market Infrastructure and Payments. Our Directorate General has about 200 staff who supports the provision of payment and securities settlement services, oversees financial market infrastructure and payment instruments, and work with market stakeholders to achieve integrated payment and securities settlement markets in the euro area. In today’s fast-moving digital world, we are proud to be at the forefront of work in the areas of retail payments, instant payment solutions, securities settlement, collateral management and cyber resilience. At the same time, we are keenly aware of the new challenges that we face in relation to payment systems and financial market infrastructure more broadly – e.g. as regards crypto assets, stablecoins or the application of distributed ledger technology.
In your role as a Market Infrastructure Specialist, you will be part of a team of around 30 staff who are responsible for managing, analysing and operating the Eurosystem’s cash (TARGET2 and TIPS) and securities (T2S) settlement infrastructure, known as TARGET Services. The Division coordinates the daily operations of those three systems across the European System of Central Banks, as well as interacting with other relevant stakeholders. In addition, it runs the ECB’s own TARGET component, providing all necessary support to the ECB’s clients. It also develops and carries out analysis of the business operations of the TARGET Services platforms, and ensures that those platforms comply with all applicable regulatory and legal frameworks and rules. The Division also provides assistance to various teams working on large-scale Eurosystem projects and initiatives in the area of market infrastructure and payments (such as the T2-T2S consolidation project and the Eurosystem Collateral Management System).
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 Market Infrastructure Specialist you will:
- operate TARGET Services and coordinate with other stakeholders to ensure that operational incidents are resolved and the impact on all parties is minimised;
- manage the day-to-day operations of clients using the ECB’s TARGET component and provide assistance in relation to their participation in the system;
- draft operational reports and notes on topical matters relating to the governance of TARGET Services;
- contribute to the establishment and maintenance of operational procedures for TARGET Services, as well as to the drafting and maintenance of relevant legal and contractual documentation;
- support project teams responsible for market infrastructure initiatives and perform operational testing activities for TARGET Services.
The position offers you excellent opportunities to work in a dynamic environment and help to manage some of the world’s largest financial market infrastructure. 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 bachelor’s degree or equivalent in finance, business administration, economics, mathematics, physics, computer science or another relevant field (click here for details on degree equivalences);
- in addition to the above, a minimum of a minimum of two years’ experience in at least one of the following areas: payments, securities settlement systems, financial services infrastructure, financial market operations, or financial law;
- good general business and operational knowledge relating to large-value payment and settlement systems, as well as banks’ liquidity management;
- an understanding of the oversight and legal framework under which payment and securities infrastructure operates;
- an understanding of the interdependencies between market infrastructure and financial market participants at the European and the global level;
- the ability to deliver results within tight time frames, manage multiple assignments, prioritise tasks appropriately, and track the status and progress of numerous processes simultaneously;
- 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 master’s degree or equivalent in finance, business administration, economics, mathematics, physics, computer science or another relevant field;
- experience of operating financial market infrastructure;
- a proven ability to present subject matter in your area of expertise to internal and external audiences in a clear and concise manner.
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
To enable the Division to cover the normal operating hours of TARGET Services and also to maintain its business continuity capability, you will be expected to regularly perform work during non-standard working hours and be on-call at weekends, as well as occasionally working at the ECB’s standby sites.
Further information
The contract offered will be fixed-term, the appointment being until 30th of September 2023 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.
For additional information on this specific vacancy, you can speak to the hiring manager, Eirini Katsalirou, on +49 (0)69 1344 21465 between 14:00 and 15:00 on Thursday, 28 April, and Friday, 29 April.
Application and selection process
The recruitment process for this position will be conducted remotely. It will include a written exercise and interviews.
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.
