General Information
Type of contract
Traineeship
Who can apply?
EU nationals eligible for our traineeship programme
Grant
The trainee grant is €1,170 per month plus an accommodation allowance (see further information section)
Working time
Full time
Place of work
Frankfurt am Main, Germany
Closing date
12.07.2022
Your team
You will be part of the Directorate General SSM Governance and Operations. The Single Supervisory Mechanism (SSM) is the system of banking supervision in Europe. It comprises the ECB and the national supervisory authorities of the participating countries.
Our Directorate General’s responsibilities include assessing requests to grant or withdraw banking licences, authorising acquisitions of qualifying holdings in banks (transactions relating to mergers and acquisitions) and conducting fit and proper assessments. We are currently seeking candidates for several trainee positions.
In your role as a trainee, you will be assigned to either the Authorisation Division or the Fit and Proper Division. You will be asked to select one of these areas of work during the application process.
The Authorisation Division is a central player in bank-related international mergers and acquisitions including, for example, banking sector consolidation projects. The Division ensures that only suitable market participants enter the European banking system, by assessing applications for new banking licences, withdrawing banking licences, reviewing plans to acquire qualifying holdings in banks and processing passporting requests. The assessments usually include both a legal review of the plans and a financial analysis of business plans and past financial performance. The Division works closely with the national supervisory authorities to ensure that such requests are assessed in a timely manner, with due care and using European banking supervision methodologies. It also ensures that the criteria set out in relevant EU and national laws are met. The Division works closely with national supervisory authorities and horizontal functions within ECB Banking Supervision, as well as with market participants such as banks, law firms and consultants specialising in mergers and acquisitions.
The Fit and Proper Division is responsible for assessing the suitability of banks’ board members, key function holders and branch managers. The Division works closely with the national supervisory authorities to ensure that such assessments are made in a timely manner, with due care and using European banking supervision methodologies. It also ensures that the criteria set out in relevant EU and national laws are met. The Division develops fit and proper policy stances and participates in related legislative and regulatory work.
This assignment will give you the opportunity to work closely with colleagues across the whole of European banking supervision.
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 in the Directorate General SSM Governance and Operations you will, depending on the division to which you are assigned:
- support your team in conducting substantive supervisory assessments (legal and/or financial) regarding new banking licences, the withdrawal of banking licences and acquisitions of qualifying holdings in banks, in cooperation with national supervisory authorities and Joint Supervisory Teams;
- contribute to substantive supervisory assessments regarding the suitability of board members, key function holders and branch managers of credit institutions, in cooperation with national supervisory authorities and Joint Supervisory Teams;
- support the internal processes of your Division (such as the organisation of workflows and internal meetings) and contribute to training and communication initiatives, the development of IT and data management tools, and projects such as the organisation of banking industry workshops and conferences;
- contribute to sound and well-founded supervisory decisions.
The positions offer you excellent opportunities to contribute to the harmonisation of supervisory standards and to the soundness and stability of the European banking system. It also provides extensive scope for you to deepen your understanding of the European banking landscape. 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 higher in economics, finance, business administration, accounting or law;
- an interest in European affairs, banking supervision, banks’ business models and complex legal and financial analyses;
- knowledge of the objectives and main areas of EU financial regulation and prudential requirements for credit institutions, including banking supervision, risk management, governance arrangements for credit institutions, and the objectives and functioning of European banking supervision, in particular the SSM Regulation and the SSM Framework Regulation;
- a good knowledge of the MS Office package;
- 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 in economics, finance, business administration, accounting or law;
- a good understanding of banks’ business models.
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 aims of this position.
Working modalities
Playing a role in European banking supervision entails collaborating in multinational and multicultural teams and operating in the context of different national frameworks, for which a strong ability to use different EU languages for business purposes is an asset.
Further information
Traineeship of 6 months, extendable to a maximum of 12 months. The starting date will be from September 2022 onwards.
For additional information on this specific vacancy, you can speak to Thomas Maerzinger (Authorisation) on +49 (0)69 1344 4713 and Gijsbert ter Kuile (Fit and Proper) on +49 (0)69 1344 3539 between 15:30 and 16:30 on Tuesday 5 July.
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.
If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for similar positions within the ECB.
