ESRB Traineeship - Legal Profile

ESRB Secretariat
7119

General Information

Type of contract Traineeship

Who can apply? EU nationals eligible for our traineeship programme

Grant The trainee grant is €1,070 per month plus an accommodation allowance (see further information section)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 14.02.2023

Your team

You will be part of the Secretariat of the European Systemic Risk Board (ESRB), an independent EU body responsible for the macroprudential oversight of the EU financial system and the prevention and mitigation of systemic risk.

The ESRB brings together representatives from around 80 institutions, as well as independent experts. It collects and analyses information on a wide range of financial institutions and markets, monitors macro-financial developments, and issues warnings and recommendations to policymakers and supervisors. Further information is available on the ESRB’s website.

The ESRB Secretariat is part of the European Central Bank (ECB). We provide analytical, statistical, logistical and administrative support to the ESRB. Our tasks include identifying and analysing systemic risks to the EU financial system, assessing and proposing macroprudential policies, preparing ESRB warnings/recommendations and monitoring their implementation, and cooperating with supervisory and other macroprudential authorities. We also support ESRB working groups and prepare documents for meetings of the ESRB’s General Board and its substructures. 

As a Legal trainee, you will join our Legal team. The Legal team supports the work of a group of teams in the ESRB Secretariat and links their tasks in financial stability and macroprudential policy to the legal framework. With their focus on risk assessment, banking and non-bank financial intermediaries, these teams provide analytical input into risk and policy reports, working closely with financial stability experts, analysts and trainees from across the Secretariat. The work focus of your traineeship will therefore also depend on the work of these other teams.

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 Legal trainee you will:
  • support the ESRB, its decision-making bodies and the Secretariat in the fulfilment of their statutory responsibilities and obligations;
  • draft legal instruments, such as recommendations and warnings, and assist with the adoption, transmission and publication of these instruments;
  • provide legal advice on the interpretation of the EU financial services regulatory framework and assist colleagues with policy development;
  • fulfil the role of secretary for assessments of compliance with ESRB recommendations.

The position offers you excellent opportunities to put your knowledge of EU law and the operation of financial markets into practice and to shape macroprudential policy in Europe. 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 law;
  • advanced knowledge of EU law, including EU financial services law, covering fields such as banking, insurance and pension funds, capital markets and market infrastructure;
  • a keen interest in financial stability matters and macroprudential policy, and an awareness of the wider economic, financial and political context;
  • the ability to communicate the results of complex analytical work to a non-expert audience;
  • 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 sound understanding of the macroprudential legal framework in the EU and the role of the ESRB;
  • a strong interest in working in a multicultural environment or in gaining experience abroad.

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.

Further information

Traineeship of six to twelve months in total.

Other details on the conditions applicable to traineeships at the ECB can be found on our website.

For additional information on this specific vacancy, please send an email to Jari Friebel at ESRBlegal@ecb.europa.eu

Application and selection process

Further information on how to apply is available on our website.

The recruitment process for this position will include a remote written exercise in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – 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 other traineeship positions within the ECB.