Financial Stability Experts (ESCB/IO) - Secretariat of the European Systemic Risk Board

ESRB Secretariat
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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 31.12.2024

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)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 14.06.2022

Your team

You will be part of the Secretariat of the European Systemic Risk Board (ESRB), an EU body that brings together independent experts from around the world and representatives from as many as 80 European institutions. The ESRB is responsible for the macroprudential oversight of the EU financial system and thus contributes to preventing and mitigating systemic risk. In line with its mandate, the ESRB collects and analyses information on a broad range of financial institutions and markets, monitors macro-financial developments, and issues warnings and recommendations to policymakers and supervisors.

The ESRB Secretariat is the ECB business area that provides analytical, statistical, logistical and administrative support to the ESRB. In your role as Financial Stability Expert, you will be part of a team responsible for identifying and analysing systemic risks to the EU financial system, proposing macroprudential policies and assessing those put forward by EU Member States, preparing ESRB warnings and recommendations and monitoring their implementation, cooperating with supervisory authorities and other macroprudential authorities, supporting ESRB working groups and preparing documents for its General Board meetings. 

The ESRB is looking for Financial Stability Experts to work primarily on macroprudential topics in the areas of risk assessment and banking. Topics you may be expected to work on include the analysis of financial market developments and risks to the banking system (including cyber risk).

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 Financial Stability Expert you will:
  • analyse developments in the financial sector, particularly in banking, to identify risks to financial stability in the EU, drafting policy notes that highlight these risks and proposing measures to address them;
  • contribute to the ESRB Secretariat’s work to implement and further develop the macroprudential policy framework in Europe;
  • contribute to preparing ESRB warnings and recommendations aimed at preventing and/or mitigating systemic risk, and monitor their implementation;
  • provide analytical and secretariat support to ESRB committees and working groups and represent the ESRB Secretariat in these fora;
  • work closely with your colleagues in the ESRB Secretariat and wider ESRB community, and establish strong working relationships with colleagues in other ECB business areas;
  • engage with ESRB stakeholders to ensure open and effective communication between different authorities;
  • participate in preparing reports, papers and presentations.

The position offers you excellent opportunities to work at the heart of macroprudential policymaking in Europe and to interact with numerous stakeholders. 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, actuarial science or another relevant field (click here for details on degree equivalences);
  • in addition to the above, at least three years’ experience in financial stability analysis, financial market policies or financial supervision (micro- or macroprudential), acquired at either a central bank, a supervisory authority or another ESRB member institution or any other international institution (such as the Organisation for Economic Co-operation and Development, the International Monetary Fund or the Bank for International Settlements);
  • a proven track record of conducting empirical research in economics and/or a sound understanding of the EU macroprudential framework, financial institutions, financial markets and financial regulation; 
  • 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.

  • experience of advising policymakers or decision-making bodies at a central bank, a supervisory authority (preferably in an area related to banking) or a major international organisation, with a focus on macroprudential policy; 
  • experience of working in international expert groups and/or supporting or coordinating such groups;
  • a track record of interacting in multidisciplinary teams composed of economists, financial regulators, financial market experts, lawyers and/or microprudential and macroprudential experts;
  • experience in risk identification and analysis; 
  • programming and/or (preferably large-scale) data analysis experience, with tools such as R, Python or Structured Query Language.

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 aims of this position.

You are aware of your strengths and areas for development and know what motivates you to perform at your highest level.

Working modalities

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

Further information

The contract(s) offered will be short-term ESCB/IO, the appointment being for 24 months as of the exact starting date of the selected person(s), extendable to up to 36 months.

For additional information on this specific vacancy, you can arrange to speak to the hiring managers, Emily Beau and Andreas Westphal, by sending an email to

Application and selection process

The recruitment process for this position will be conducted remotely. It will include written exercises, a presentation and an online interview via Webex. 

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.

Find out how to apply for a position at the European Central Bank. Read more about joining us.