Market Operations Expert (ESCB/IO) - Market Operations Systems

Fin. Markets & Market Infrastructure Ops
Market Operations
You can no longer apply

General Information

Type of contract Short-term contract, which may be extended to up to 36 months subject to individual performance and organisational needs

Contract end date 01.10.2023

Who can apply? EU nationals working for national central banks of the ESCB, international governmental organisations or other employers performing central banking or banking supervision tasks.

Salary F/G (1) (minimum full time monthly net salary €6336 and benefits, see further information section)

Role specialisation Market Ops Policy & Implementation

Working time Full time

On-call? Yes

Shift? Yes

Place of work Frankfurt am Main, Germany

Closing date 31.05.2022

Your team

You will be part of the Market Operations Systems Division in the Directorate General Market Operations (DG/M). Our Directorate General oversees the effective implementation of the ECB’s monetary policy and the management of its financial assets by providing state-of-the-art frameworks and high-quality market intelligence. 

The Division offers a wide range of services related to the ECB’s treasury management system (TMS) and other systems within the Directorate General. These services include functional support, project management, software test management, data analytics, innovation, supplier relations, end-user support and training, and client liaison. The Division is composed of a diverse group of 35-40 highly motivated and committed professionals. The Division works closely within DG/M, other ECB business areas and the national central banks.

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 Operations Expert, you will be part of a team responsible for: 
  1. implementing, maintaining, developing, testing and configuring the ECB’s portfolio management applications used to manage the ECB’s foreign reserves and own funds and to conduct ECB monetary policy operations;
  2. providing relevant expertise in tasks, projects and processes related to the Directorate General’s activities; 
  3. coordinating tasks and activities carried out across the divisions of the Directorate General;
  4. working closely with other divisions within the Directorate General and the wider TMS user community, both within the ECB and national central banks.

As a member of the team supporting TMS directly, you will:
  • provide functional support to all users of the ECB’s TMS, investigating and following up on any issues reported by them and liaising with both the IT department and the system vendor;
  • establish and maintain the static data required in the TMS for the different portfolios and operations managed internally by the ECB and the Eurosystem in the context of foreign reserve management, ECB’s own funds and asset purchase programmes;
  • establish and maintain portfolios and instruments, the sets of counterparties, issuers and other third parties, reports, limits, eligibilities and compliance checks;
  • provide daily monitoring and maintenance of the TMS, checking that start-of-day and end-of-day processes are properly executed, following up on any errors logged in these processes, investigating the underlying reasons and addressing them in a timely manner, and ensuring that asset-backed securities (ABS) purchased under the asset-backed securities purchase programme are accurately maintained; 
In addition to these regular tasks, you may be involved in:
  • contributing to or coordinating the implementation in the TMS of new business requirements (e.g. new currencies, new instrument types) and ensuring collaboration with the different business areas involved;
  • contributing to the work relating to TMS maintenance and TMS project activities, including maintaining the related configuration, preparing and running test material and implementing solutions in production, all in close cooperation with colleagues from other business areas;
  • drafting communication documents addressed to the user community, work procedures, system documentation and training material, and contributing to reports made regularly to Eurosystem working groups;
  • Python scripting, data querying and analysis using SQL, and reporting data in a clean and visually compelling manner. 

The position offers you excellent opportunities to understand the interactions and dependencies across different business areas within the ECB and national central banks, and to gain a detailed insight into financial instruments and the testing and project management of systems relevant for market operations and monetary policy. 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 master’s degree or equivalent in economics, finance, science, business administration, STEM (science, technology, engineering and mathematics), or another relevant field (click here for details on degree equivalences), or a bachelor’s degree in one of the aforementioned fields plus one year of relevant professional experience;
  • in addition to the above, a minimum of three years’ professional experience in front/middle/back office operations and/or accounting, and/or with treasury management systems in the fields of functional support, portfolio management, risk management, settlement and/or financial accounting;
  • as part of the above-mentioned minimum professional experience, practical experience in carrying out complex functional configuration tasks and implementing business requirements in the Wallstreet Suite treasury management system;
  • a sound understanding of financial instruments and markets (fixed income and related derivatives), structured finance (e.g. ABS) and foreign exchange instruments;
  • professional experience with financial market data systems such as Reuters or Bloomberg;
  • 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 sound understanding of central bank market operations, and the related governance and working procedures;
  • professional experience in the functional software testing of treasury management systems, including test automation;
  • professional certification in the field of financial instruments and operations (e.g. FIC, OCP, CFA);
  • professional certification in project management, business analysis and/or test management;
  • programming experience with languages such as Java or Python.
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 aims of this position.

Working modalities

To enable the Division to maintain its business continuity capability, you will occasionally be expected to perform work during non-standard working hours and work at the ECB’s standby sites.

We would be happy to discuss a part-time arrangement for this role.

Further information

The contract offered will be short-term ESCB/IO, the appointment being 12 months as of the exact starting date of the selected person, extendable to up to 36 months.

For additional information on this specific vacancy, you can speak to the hiring manager, Isabel Soares, on +49 (0)69 1344 7492 between 10.00 and 12.00 on the 17th of May.

Application and selection process

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