Financial Stability Expert - European Systemic Risk Board Secretariat

The European Central Bank is seeking a Financial Stability Expert to join the Secretariat of the European Systemic Risk Board (ESRB), within the Analysis and Policy Advice ESRB Secretariat.

Your team

You will be part of the Secretariat of the European Systemic Risk Board (ESRB), the ECB business area that provides analytical, statistical, logistical and administrative support to the ESRB.

The ESRB is responsible for the macroprudential oversight of the EU financial system and the prevention and mitigation of systemic risk. This is a broad remit, covering banks, insurers, asset managers, shadow banks, financial market infrastructures and other financial institutions and markets. In pursuit of its macroprudential mandate, the ESRB assesses systemic risks and, where appropriate, issues warnings and recommendations. It also has a broad membership, with representatives from 80 different European institutions, including central banks and supervisory authorities.

In your role as Financial Stability Expert, you will be part of a team responsible for analysing systemic risks to the EU financial system and assessing macroprudential policies put forward by EU Member States, as well as preparing warnings and recommendations and monitoring their implementation. You will work primarily on the ESRB’s system-wide approach to financial stability. You will focus on how shocks can be amplified and transmitted across banks, non-bank financial intermediaries and markets, posing risks to financial stability.

Your role

• identify activities that are systemically important to the functioning of the financial system;
• identify risks and vulnerabilities related to such activities and assess whether they are adequately addressed through entity-based regulation;
• develop activity-based tools that help address risks and vulnerabilities across sectors;
• help to prepare ESRB warnings, recommendations and other elements of the EU macroprudential policy framework;
• engage with experts from central banks, supervisory authorities, EU institutions, international organisations and academia, as well as with industry stakeholders;
• represent the ESRB Secretariat in expert groups and other fora.

We actively foster professional development by offering training and mentoring opportunities, and we encourage horizontal mobility after several years in a given role.

The position offers you excellent opportunities to work at the heart of macroprudential policymaking in Europe and to interact with numerous internal and external stakeholders. 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 master’s degree or equivalent in economics, finance or another relevant field;
• in addition to the above, a minimum of four years’ professional experience (other than as an intern or trainee) in financial stability analysis, financial market policies or financial supervision (micro- or macroprudential);
• experience working at a central bank, supervisory authority, another ESRB institution or another international institution (e.g. the OECD, the IMF, the BIS);
• a sound understanding of the EU macroprudential framework, financial institutions, financial markets and financial regulation;
• experience in employing a system-wide perspective that goes beyond single institutions or sectors;
• 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 demonstrated ability to prepare clear, well-structured reports and policy documents, tailored to a variety of audiences;
• experience working with granular statistical and regulatory datasets related to the financial system and corresponding knowledge of programming languages (e.g. Python, R, MATLAB, Stata, SQL);
• experience working as part of and/or supporting or coordinating international expert groups.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

You are motivated to be part of our team and to develop and use your skills and competencies to achieve the aims of this position. 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.

Working modalities

We would be happy to discuss a part-time arrangement for this role.