Financial Stability Expert (ESCB/IO) - Market-based Finance

Analysis and Policy Advice
Macroprudential Policy & Financial Stability
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 31.08.2025

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 04.07.2022

Your team

You will be part of the Market-based Finance Division in the Directorate General Macroprudential Policy and Financial Stability. The Division has around 20 people and is responsible for (i) assessing and mitigating systemic risks arising from the activities and behaviours of non-bank financial intermediaries (NBFIs); (ii) assessing financial stability risks emanating from financial markets; (iii) coordinating the Directorate General’s market intelligence activities; and (iv) enabling the ECB to better understand how market-based finance interacts with monetary policy and climate change.

You will contribute to policy and analytical work on at least two of the following topics: (i) monitoring and assessing systemic risks and changes in financial structures linked to the activities of NBFIs, including via their interactions with banks; (ii) strengthening the macroprudential policy approach to NBFIs; (iii) assessing the interaction between market-based finance and monetary policy from a financial stability perspective; (iv) assessing climate-related risks to NBFIs and the role green finance plays in supporting the transition to a net zero economy.

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:
  • contribute to identifying, assessing and mitigating financial stability risks arising from NBFIs;
  • contribute to modelling work and/or longer-term research on selected topics related to NBFI risks, macroprudential policies for NBFIs, monetary policy and market-based finance, and/or the intersection between climate change, green finance and NBFIs; 
  • produce high-quality risk assessments and policy work for bodies such as the Governing Council, the Executive Board, the Financial Stability Committee and the General Board of the European Systemic Risk Board;
  • contribute to the ECB’s Financial Stability Review;
  • participate in international working groups/committees working on systemic risks and macroprudential policies beyond the banking sector, both at European level and under the sub-structures of the Financial Stability Board;
  • contribute to creating a collaborative working atmosphere and enhancing commitment and team spirit in the Division.

We are seeking a candidate for this role who demonstrates the potential for growth, and we will support the selected candidate in their future development of the required knowledge, skills or competencies.

The position offers you excellent opportunities to develop cutting-edge macro-financial models to assess risks arising from NBFIs and steer the design of associated macroprudential policies, while also influencing the monetary policy debate. 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 or another relevant field (see How you can join us for details on degree equivalences);
  • in addition to the above, a minimum of three years’ professional experience (other than as a trainee or intern) in providing analysis and/or policy advice in at least one of the following areas: financial markets, financial stability, macroprudential policy, financial regulation, monetary policy or international economics and finance;
  • experience in preparing analytical reports and policy documents, drawing on a range of different sources;
  • sound knowledge of models, empirical methods and/or datasets which may be applied to the analysis of financial intermediaries and markets;
  • excellent communication skills, including strong presentation skills and an ability to write clearly and compellingly on a range of economic and financial topics;
  • 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 PhD in economics, finance or another relevant field;
  • experience of participating in international committees/working groups at regional or global level.

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 in formation effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

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

You will be working in an environment in which well-being and a good work-life balance are fostered. 

You will occasionally be expected to travel abroad for various purposes (e.g. to attend international meetings). 

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 for 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, Lorenzo Cappiello, on +49 (0)69 1344 8765 between 12:00 and 13:00 on Thursday, 23 June.

Application and selection process

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

Find out how to apply for a position at the ECB. 
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