ESRB traineeship – Economist profile

ESRB Secretariat
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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 07.02.2024

Your team

We are looking for graduates for up to 13 traineeships in the Secretariat of the European Systemic Risk Board (ESRB). 

The ESRB is 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, including central banks and supervisors, 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). The Secretariat provides 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, cooperating with supervisory and other macroprudential authorities, supporting ESRB working groups and preparing documents for meetings of the ESRB General Board and its substructures. 

As a trainee, you will join one of three teams focusing on (i) financial sector risk assessment, (ii) banks and (iii) non-bank financial intermediaries. These teams cooperate closely in analytical work to identify and assess systemic risks in the EU financial sector as well as on policies to address them, providing inputs to ESRB working groups and substructures. The content of your traineeship will depend on which team you join and your skill set.

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 you will:
  • support the analytical and policy work of the ESRB Secretariat;
  • analyse developments in the EU financial system, using various datasets and sources of information;
  • contribute to the identification and analysis of financial stability risks related to the banking sector, non-bank financial intermediaries, financial market infrastructure and markets;
  • provide input into the development and assessment of macroprudential policies in the EU;
  • participate in and contribute to the work of ESRB substructures, including expert groups and task forces.

The position offers you excellent opportunities to work on financial stability topics relating to the whole financial system and to contribute to the development and implementation of macroprudential policies in the EU. You will gain experience in both financial stability analysis and policy work through regular use of data analysis and models and by contributing to meetings, presentations and key ESRB reports. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens. 

You will be assigned an experienced colleague as a mentor/buddy to provide you with support, advice and guidance on participating successfully in the traineeship.

Qualifications, experience and skills

  • a bachelor’s degree or higher in economics, econometrics, banking, business administration, finance, statistics or a related field;
  • a keen interest in financial stability and macroprudential policy;
  • proficiency in empirical analysis using statistical and data management packages (e.g. EViews, Excel VBA, MATLAB, Python, R, R Shiny, SAS, Stata, SQL and Tableau);
  • an advanced knowledge of Microsoft Office, particularly Word, Excel and PowerPoint;
  • 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.

  • sound knowledge of one or more of the following areas: macroeconomics, monetary or prudential policies, financial markets, banks, financial stability, investment funds, financial supervision, central counterparties, insurance or pension funds;
  • experience in using financial market data sources (e.g. Bloomberg, LSEG and S&P Global Market Intelligence), official financial sector, economic and banking statistics (e.g. from the ECB, Eurostat and the Bank for International Settlements), and/or micro-level data (e.g. firm-level data);
  • experience in drafting for, and/or presenting a topic to, a wide audience.

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

Initial traineeship of 4 months, with a possible extension to up to 12 months in total. The starting date will be between May and November 2024. 

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 with Paulina Przewoska on +49 (0)69 1344 1943 between 10:00 and 11:00 on Friday, 26 January.

Application and selection process

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. 

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.