Functional area: Macroprudential Policy and Financial Stability

Reference: 2015-037-EXT

The Directorate General Macro-Prudential Policy and Financial Stability (DG/MF) of the European Central Bank (ECB) is seeking applicants for a position of Research Analyst in its Macro-Financial Linkages Division.
DG/MF provides analyses and policy advice on issues relating to financial stability, financial regulation and supervision, and financial stability arrangements. In the area of financial stability, DG/MF analyses developments in the banking sector and other financial sectors in the euro area/European Union from a systemic risk perspective. Moreover, DG/MF monitors developments and analyses relevant policy issues from the perspectives of financial stability and financial integration. The establishment of the Single Supervisory Mechanism (SSM) has entrusted the ECB with macro-prudential tasks and endowed it with the tools provided for under EU law. In this context, DG/MF has become responsible for preparing, from a technical point of view, the ECB’s macro-prudential policy decisions, liaising for this purpose with relevant national and international authorities.
Within DG/MF, the Macro-Financial Linkages Division is responsible for assessing and quantifying the potential impact of systemic risks on the financial system of the euro area/European Union (EU). To this end, the Division:

• evaluates macro-financial linkages and risk-propagation channels within and across the financial systems of euro area/EU countries;
• contributes to the regular stress tests conducted by the European Banking Authority (EBA) and/or by the ECB/SSM, to country-specific system-wide stress tests and to European and international discussions on macro-financial linkages and stress testing;
• contributes to policy discussions underpinning the use of macro-prudential policy instruments and their impact, specifically by evaluating the latter with quantitative tools;
• contributes to the Directorate General’s key publications, in particular the Financial Stability Review and the Banking Structures Report;
• develops appropriate quantitative tools to be used, for example, in macro stress testing and in assessing the impact of macro-prudential policy measures.

The successful applicant will be entrusted with the following main tasks:

• contributing to the general work of the Division, including: (i) data preparation and updating of relevant tools to generate the outputs for regular internal and external publications, such as the Financial Stability Review; (ii) regular stress tests conducted by the EBA and/or by the ECB/SSM, as well as to country-specific system-wide stress tests; and (iii) support for the preparation of presentations for management and senior management, including the production of tables and charts;
• contributing, by providing research assistance (including code programming), to the development of models and tools for assessing the impact of systemic risks and financial regulation on the financial sector and the overall economy, including macro-financial linkages, also by using bank-level data;
• contributing to the maintenance, updating and further development of databases for monitoring financial institutions, including the shadow banking system, as well as financial and real sector developments, including with a country focus;
• keeping abreast of data sources, applications and publications useful to the Division;
• cooperating closely with experts in the Division, as well as establishing and maintaining working relationships with colleagues in other divisions and business areas.

Applicants must have the following knowledge and competencies:

• a bachelor’s degree in finance, economics, business administration (with a focus on accounting), statistics, computer science, mathematics, engineering or a related discipline;
• a master’s degree in the same fields would be an asset;
• experience in managing large financial and real sector databases, and in processing related data;
• advanced knowledge of relevant programming languages and econometric software (e.g. Matlab, Stata, Eviews or R);
• familiarity with a broad range of standard databases providing macroeconomic and financial data (e.g. Datastream, Bloomberg, SNL Financial, Thomson Reuters, Bankscope, Haver Analytics, etc.) would be considered an asset;
• familiarity with international banking and financial data, as well as with accounting and statistical concepts, would be considered an asset;
• experience in the use and maintenance of Oracle databases and a working knowledge of SQL would be considered an asset;
• experience in modelling techniques in the field of time series and cross-sectional econometrics, dynamic stochastic general equilibrium (DSGE) or mathematical optimisation models would be considered an asset.

• an advanced-level command of English with proven drafting ability;
• an intermediate level command of at least one other official language of the EU;
• sound IT skills, with an excellent knowledge of MS Office applications such as Word, Excel, PowerPoint and Access.

The successful candidate will have the following behavioural competencies:

• thinks analytically and strives to expand his/her knowledge and skills;
• carries out assigned work without constant supervision, seeking ways to overcome everyday obstacles to accomplish tasks, and contributes to the success of projects by bringing forward new ideas;
• pursues projects with energy and drive;
• communicates ideas in an effective manner and ensures mutual comprehension;
• shares information and supports team members in the achievement of common goals;

• manages his/her time effectively and delivers high-quality output, sometimes working to tight deadlines.

Three-year fixed-term contract, which may be converted into a contract of indefinite duration subject to organisational needs and individual performance.
To further enhance the diversity of its workforce, the ECB particularly encourages applications from female candidates.

Applications are to be made in English and submitted using our online application form. An "Applicants' Guide" can be downloaded from our recruitment pages.

The recruitment process may include a pre-screening exercise, a written exercise, a presentation and interviews.

Applications are accepted from nationals of Member States of the European Union.

The requirements laid down in the vacancy notice must be met by the closing date for applications.

This vacancy notice may be used to fill the same position again, or similar positions, within 12 months of the selection decision.

The selection committee may place suitable candidates on a reserve list, from which candidates may be appointed to similar positions in the same or another business area. It may also be decided to fill the position(s) advertised in this vacancy notice with a suitable candidate or candidates from the reserve list resulting from a recruitment procedure for a similar position. Candidates will be informed accordingly if this happens.

Closing Date for Applications: Wed, 25 Feb 2015

This position has been allocated to salary band: E/F

 Apply on the ECB e-recruitment portal