General Information 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 accommodationallowance (see further information section) Working time Full time Place of work Frankfurt am Main, Germany Closing date 15.09.2023 Your team You will be part of the Directorate General Macroprudential Policy andFinancial Stability. Our Directorate General has approximately 100 staffproviding analysis and policy advice on issues relating to financialstability, non-bank financial intermediation, financial regulation andmacroprudential policy. In particular, we identify and measure systemic risks for banks andnon-banks and we develop and assess financial regulation andmacroprudential measures. We are looking for trainees to work in theSystemic Risk and Financial Institutions Division, the Market-basedFinance Division, the Financial Regulation and Policy Division and theMacroprudential Policy Division. In the area of systemic risk and financial institutions, we analysedevelopments in the euro area/EU financial system, including its bankingsector from a systemic risk perspective. We also coordinate theproduction of the ECB’s Financial Stability Review and we design,assess and propose structural macroprudential policy measures forsystemic banks. In the area of market-based finance, we assess and mitigate systemicrisks arising from the activities and behaviour of non-bank financialintermediaries. We also assess financial stability risks in financialmarkets and coordinate the Directorate General’s market intelligenceactivities. We enhance understanding of how market-based financeinteracts with monetary policy and contribute to the ECB’s work onsustainable finance and climate-related financial stability risks. In the area of financial regulation and policy, we analyse regulatorypolicy issues from a financial stability and financial integrationperspective. We conduct impact analyses on regulatory developments andwe contribute to European and international discussions on regulatoryand supervisory issues. We also contribute to the ECB’s work onsustainable finance, non-bank financial intermediation and thestructural transformation of the financial system caused by thedevelopment of private digital money (such as crypto-assets andstablecoins). In the area of macroprudential policy, we assess country-specificcyclical and structural risks within the financial sector and beyond it,including the household, corporate and real estate sectors. We assessnational macroprudential measures to address the identified risks andprepare analyses to inform the activation of macroprudential measures byECB as envisaged by Art 5 of SSM regulation. In your role as a trainee, you will be part of a team of approximately20 members of staff responsible for policy-relevant analysis, modeldevelopment and the coordination of the ECB’s views on the issuesmentioned above. You will work closely with our experts, contributing toprojects that are relevant to the division to which you are assigned. The ECB is an inclusive employer and we strive to reflect the diversityof the population we serve. We encourage you to apply irrespective ofage, disability, ethnicity, gender, gender identity, race, religiousbeliefs, sexual orientation or other characteristics. Your role As a trainee, you will: * participate actively in the general work of the division to whichyou are assigned, including by (i) contributing to analyses for regularinternal and external publications such as the Financial StabilityReview and the Macroprudential Bulletin, (ii) contributing – throughdata collection, research assistance and programming – to analyticalprojects 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 riskidentification, macroprudential policy analysis and the analysis ofdevelopments in the financial sector and the real economy; * develop visualisation tools and programs/code for efficient dataprocessing, while helping to ensure that users can access complexdatasets. The position offers you excellent opportunities to become familiar withmacroprudential policy and financial stability by taking part in avariety of tasks and projects. You will be able to develop yourpotential and you will quickly have a real impact on the work of thedivision to which you are assigned. As a trainee, you will have theopportunity to work in a team alongside committed and qualifiedcolleagues and leaders in the field of financial stability. You will be able to attend a wide range of seminars and will have accessto the ECB’s library as well as its computing, programming andstatistical resources. You will have the opportunity to network andengage with other employees, to grow personally and to increase yourbusiness knowledge. You will be part of a multicultural team thatstrives for continuous innovation to make a positive impact on the livesof European citizens. Qualifications, experience and skills Essential: * a bachelor’s degree or higher in finance, economics, statistics,mathematics, engineering, business administration, physics, computerscience or a related discipline; * an advanced knowledge of MS Office, in particular Excel; * experience in preparing, handling and analysing datasets based onvarious data sources; * an advanced (C1) command of English and an intermediate (B1) commandof at least one other official language of the EU, according to theCommon European Framework of Reference for Languages [2]. Desired: * a master’s degree, or studies towards a master’s degree that areclose to completion, in finance, economics, statistics, mathematics,engineering, business administration, physics, computer science or arelated discipline; * knowledge of financial sector analysis and financial policy andregulation, and/or knowledge of macroeconomics; * knowledge of bank balance sheet and bank-specific data analysisand/or knowledge of non-bank financial institutions; * a basic understanding of EU and/or international financialregulation; * good analytical skills and familiarity with macroeconomic, bankingand/or financial market data; * sound IT and programming skills and knowledge of programminglanguages and econometric software (e.g. SQL, R, MATLAB, Stata, Pythonand/or EViews); * experience in one or more of the following fields: econometrics (e.g.macroeconometrics, microeconometrics, time series analysis, financialeconometrics, panel data econometrics, machine learning), modelling andprogramming; * experience of a broad range of standard databases of macroeconomicand financial data (e.g. Refinitiv Datastream, Orbis, Moody’sAnalytics BankFocus, Bloomberg, Refinitiv Eikon, Haver Analytics,Refinitiv Lipper and EPFR Global). You are curious and eager to learn, and want to further develop yourability to analyse complex information. You are keen to collaborate withothers, pursue team goals and learn from other people’s diverseperspectives. You strive to know and anticipate stakeholder needs, andwill signal any need for change and propose alternative solutions. You are motivated to contribute to the ECB’s mission, to serve thecitizens of the EU as a member of a public institution and to work withcolleagues from all over Europe. You are keen to be part of our team andto use your skills and competencies to achieve the aims of thisposition. Further information Traineeship of between three and 12 months in total. The earliest starting date will be mid-January 2024 and additional dateswill be available throughout 2024. Other details on the conditions applicable to traineeships [3] at theECB can be found on our website. Application and selection process The recruitment process for this position will include an onlineinterview. Further information on how to apply [4] is available on our website. If you are not selected for this position but are still consideredsuitable, you will be placed on a reserve list for 12 months from theclosing date for applications, from which you might be considered forother traineeship positions within the ECB.
