Traineeships in the Authorisation Division

SSM Governance & Operations
7694
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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 26.05.2023

Your team

You will be part of the Authorisation Division in the Directorate SSM Governance and Operations. The  Division assesses bank mergers and acquisitions (e.g. of qualifying holdings in existing banks) and licence applications from new banking and investment firms. 
In making such assessments, the Division analyses relevant legal documents (shareholders’ agreements, share purchase agreements, etc.) and business plans. The Division also evaluates whether members of the management body of a supervised entity are suitable for their roles. These suitability assessments take place when a credit institution is first authorised to take up business and when any changes occur in the composition of management bodies following a proposed transaction.
In addition, the Division cooperates with other divisions in managing crisis cases relating to licence withdrawals. To this end, it assesses the economic or legal factors at play in each withdrawal case.
Other tasks include maintaining and enhancing the array of tools developed by the Division for carrying out its assessments.
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.
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

In your role as a trainee, you will be part of a team responsible for assessing requests to grant or withdraw banking licences and for authorising acquisitions of qualifying holdings in banks (along with other transactions relating to mergers and acquisitions). You will work closely with the national competent authorities and the Joint Supervisory Teams.

Depending on your background, as a trainee in the Authorisation Division you will:
  • support your team in conducting substantive supervisory legal or financial assessments regarding banking mergers and acquisitions (e.g. of qualifying holdings) and new banking and investment firms entering or exiting the market (license applications and withdrawals); 
  • support the Division’s internal processes (such as workflows and internal meetings), participate in training and communication initiatives and contribute to sound and well-founded supervisory decisions;
  • contribute to the development of IT and data management tools.

The position offers you excellent opportunities to contribute to the harmonisation of supervisory standards and to the soundness and stability of the European banking system. It is also a unique opportunity 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 law, finance, accounting, business administration or economics,
  • for candidates with a law profile, a basic knowledge of corporate law; for candidates with a finance/accounting/business administration/economics profile, a knowledge of the basic rules of accounting:
  • 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 law, finance or accounting;

Depending on your profile:
  • 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; 
  • good knowledge of corporate law and mergers and acquisitions law; 
  • a good understanding of banks’ business models, business valuations, accounting principles (e.g. IFRS, national GAAPs), balance sheet analysis, commonly used valuation techniques (discounted cash flows, multiples, etc.); 
  • proficiency in IT programming, in one or more of the common languages (Python, VBA, SQL, Java).

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 2023 onwards.
Other details on the conditions applicable to traineeships at the ECB can be found on our website.
For additional information on this specific vacancy, you can speak to the hiring managers:
  • FiIipa Vieira Rodrigues on +49 (0)172 25 49 376 between 9.30 and 10.30 on Friday, 12 May.
  • Paolo Mecenero on +49 (0)172 61 88 768 between 10:00 and 12:00 on Friday, 19 May.

Application and selection process

The recruitment process for this position will include an online interview. 
Further information on how to apply is available on our website.
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.