Traineeships in On-Site and Internal Model Inspections

On-site & Internal Model Inspections
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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 12.03.2024

Your team

You will be part of the Directorate General On-Site and Internal Model Inspections. Our Directorate General has approximately 200 staff and is responsible for conducting on-site supervisory activities, ensuring the consistency of assessment approaches across the Single Supervisory Mechanism (SSM) and organising the SSM’s on-site supervisory programme. 

The SSM is the system of banking supervision in Europe. It comprises the ECB and the national supervisory authorities of the participating countries.

In your role as a trainee, you will be assigned either to one of our four divisions – Financial Risk Inspections, Non-Financial Risk Inspections, Internal Model Investigations, or Operations and Integration – or to the Directorate General’s Senior Management Office.

The Financial Risk Inspections Division assesses credit risk, market risk, liquidity risk and interest rate risk in the banking book. It is also responsible for conducting asset quality reviews.

The Non-Financial Risk Inspections Division assesses governance and risk management, capital and business model, climate risk and operational risks (including IT risk).

The Internal Model Investigations Division conducts internal model investigations and ensures the consistency of methodologies and processes related to the review of internal models for the calculation of minimum capital requirements (Pillar 1).

The Operations and Integration Division plans and coordinates the on-site supervisory programme, managing the common processes involved, monitoring the programme’s execution and preparing related reporting.

The Senior Management Office coordinates the activities of the whole Directorate General On-Site and Internal Model Inspections related to the work of all four divisions.

You will work closely with colleagues in your team and division as well as across the SSM.

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, depending on the division that you are assigned to, you will:
  • support your team in planning and monitoring the execution of the on-site supervisory programme and related horizontal analyses;
  • help to organise the training activities offered to SSM inspectors and coordinate internal and external communication initiatives;
  • support the processes in your division and your team;
  • assist with on-site inspections, asset quality reviews and internal model investigations (please note that this does not imply direct participation in these activities on the bank’s premises);
  • contribute to developing, maintaining and enhancing IT/data management tools and projects.

The position offers you excellent opportunities to analyse issues relating to prudential supervision and to strengthen your project management skills. It will also enable you to deepen your understanding of the European banking landscape and develop your career.

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 bachelor’s degree or higher in accounting, economics, finance, business administration, European studies, international relations, engineering, mathematics, computer science, econometrics, statistics, physics or another relevant field;
  • knowledge of the objectives and main areas of EU financial regulation and prudential requirements for credit institutions, as well as 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, depending on the division you are assigned to: 
  • practical knowledge of data analysis and visualisation tools (e.g. Python, R, MATLAB, relational databases, SQL, VBA, Tableau and SAS);
  • knowledge of how credit institutions function and the risks they are exposed to (e.g. credit risk, market risk, interest rate risk in the banking book, liquidity risk, IT risk and climate risk), IFRS, project management and risk management;
  • experience of preparing and giving presentations on project proposals, results and key technical or operational messages;
  • knowledge of mathematical models for forecasting, measuring risk and econometrics;
  • experience in game theory, optimising processes and allocation of resources, and planning, monitoring and reporting on tasks involving multiple stakeholders;
  • knowledge of artificial intelligence/machine learning and digital transformation.

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

Initial traineeship of between six and 12 months, with a possible extension to up to 12 months in total. The traineeships will have varying starting dates, beginning at the earliest in October 2024.
Other details on the conditions applicable to traineeships at the ECB can be found on our website.

Application and selection process

The recruitment process for this position will include a pre-recorded video interview 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.