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 15.09.2023
You will be part of the Directorate General Macroprudential Policy and
Financial Stability. Our Directorate General has approximately 100 staff
providing analysis and policy advice on issues relating to financial
stability, non-bank financial intermediation, financial regulation and
In particular, we identify and measure systemic risks for banks and
non-banks and we develop and assess financial regulation and
macroprudential measures. We are looking for trainees to work in the
Systemic Risk and Financial Institutions Division, the Market-based
Finance Division, the Financial Regulation and Policy Division and the
Macroprudential Policy Division.
In the area of systemic risk and financial institutions, we analyse
developments in the euro area/EU financial system, including its banking
sector from a systemic risk perspective. We also coordinate the
production of the ECB’s Financial Stability Review and we design,
assess and propose structural macroprudential policy measures for
In the area of market-based finance, we assess and mitigate systemic
risks arising from the activities and behaviour of non-bank financial
intermediaries. We also assess financial stability risks in financial
markets and coordinate the Directorate General’s market intelligence
activities. We enhance understanding of how market-based finance
interacts with monetary policy and contribute to the ECB’s work on
sustainable finance and climate-related financial stability risks.
In the area of financial regulation and policy, we analyse regulatory
policy issues from a financial stability and financial integration
perspective. We conduct impact analyses on regulatory developments and
we contribute to European and international discussions on regulatory
and supervisory issues. We also contribute to the ECB’s work on
sustainable finance, non-bank financial intermediation and the
structural transformation of the financial system caused by the
development of private digital money (such as crypto-assets and
In the area of macroprudential policy, we assess country-specific
cyclical and structural risks within the financial sector and beyond it,
including the household, corporate and real estate sectors. We assess
national macroprudential measures to address the identified risks and
prepare analyses to inform the activation of macroprudential measures by
ECB as envisaged by Art 5 of SSM regulation.
In your role as a trainee, you will be part of a team of approximately
20 members of staff responsible for policy-relevant analysis, model
development and the coordination of the ECB’s views on the issues
mentioned above. You will work closely with our experts, contributing to
projects that are relevant to the division to which you are assigned.
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.
As a trainee, you will:
* participate actively in the general work of the division to which
you are assigned, including by (i) contributing to analyses for regular
internal and external publications such as the Financial Stability
Review and the Macroprudential Bulletin, (ii) contributing – through
data collection, research assistance and programming – to analytical
projects on issues currently of interest to the Directorate General, and
(iii) helping to prepare presentations and notes for management
(including senior management);
* maintain, update and further develop databases used for systemic risk
identification, macroprudential policy analysis and the analysis of
developments in the financial sector and the real economy;
* develop visualisation tools and programs/code for efficient data
processing, while helping to ensure that users can access complex
The position offers you excellent opportunities to become familiar with
macroprudential policy and financial stability by taking part in a
variety of tasks and projects. You will be able to develop your
potential and you will quickly have a real impact on the work of the
division to which you are assigned. As a trainee, you will have the
opportunity to work in a team alongside committed and qualified
colleagues and leaders in the field of financial stability.
You will be able to attend a wide range of seminars and will have access
to the ECB’s library as well as its computing, programming and
statistical resources. You will have the opportunity to network and
engage with other employees, to grow personally and to increase your
business knowledge. 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 finance, economics, statistics,
mathematics, engineering, business administration, physics, computer
science or a related discipline;
* an advanced knowledge of MS Office, in particular Excel;
* experience in preparing, handling and analysing datasets based on
various data sources;
* 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 .
* a master’s degree, or studies towards a master’s degree that are
close to completion, in finance, economics, statistics, mathematics,
engineering, business administration, physics, computer science or a
* knowledge of financial sector analysis and financial policy and
regulation, and/or knowledge of macroeconomics;
* knowledge of bank balance sheet and bank-specific data analysis
and/or knowledge of non-bank financial institutions;
* a basic understanding of EU and/or international financial
* good analytical skills and familiarity with macroeconomic, banking
and/or financial market data;
* sound IT and programming skills and knowledge of programming
languages and econometric software (e.g. SQL, R, MATLAB, Stata, Python
* experience in one or more of the following fields: econometrics (e.g.
macroeconometrics, microeconometrics, time series analysis, financial
econometrics, panel data econometrics, machine learning), modelling and
* experience of a broad range of standard databases of macroeconomic
and financial data (e.g. Refinitiv Datastream, Orbis, Moody’s
Analytics BankFocus, Bloomberg, Refinitiv Eikon, Haver Analytics,
Refinitiv Lipper and EPFR Global).
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
Traineeship of between three and 12 months in total.
The earliest starting date will be mid-January 2024 and additional dates
will be available throughout 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 an online
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.