Senior Financial Stability Experts – Stress Test Modelling

Analysis and Policy Advice

Macroprudential Policy & Financial Stability

10949

General Information
Type of contract Fixed-term contract, which may be extended subject to individual performance and organisational needs

Who can apply? EU nationals

Salary F/G (bracket 2 - step 1) full time monthly net salary: €6,032 plus benefits, for further information see what we offer.

Role specialisation FinancialStability&MacroprudentialPolicy

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 05.02.2025

Your team The Stress Test Modelling Division in the Directorate General Macroprudential Policy and Financial Stability is seeking candidates to fill several Senior Financial Stability Expert positions.

Our Division comprises around 30 staff members. We are responsible for developing and maintaining the models and infrastructure used to perform stress tests, scenario-based exercises and sensitivity analyses at the ECB. We use our stress-testing models to study the interaction between macroprudential policy, financial stability and monetary policy. We also use them to study the interconnectedness of the euro area financial system and the implications of climate change and systemic liquidity for financial stability risks. The Division also supports the activities of the European Supervisory Authorities by providing stress scenarios and performing top-down quality assurance of bank projections as part of the biennial EU-wide stress tests coordinated by the European Banking Authority.

You will join one of the Division’s teams that develop models to analyse credit risk, market and liquidity risk, profitability and solvency risk or build scenario calibration tools. You will use these tools for the EU-wide stress test, in particular for the top-down, model-based part of the quality assurance process and related model based macroprudential analyses and impact assessments.

These positions offer you the opportunity to help implement and develop tools and quantitative models to assess credit, liquidity and market risk, calibrate scenarios, and evaluate macroprudential measures.

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 Senior Financial Stability Expert you will:

• run top-down stress-testing tools and conduct quantitative sensitivity analyses;
• run dynamic, macro/micro stress-testing models to deliver a top-down, macroprudential perspective for regular EU-wide stress test;
• develop and apply impact assessment tools, including credit risk models, market and liquidity risk models, contagion models of linkages between the financial and non financial sectors and macro stress-testing tools;
• provide input for the deliverables of the Division and the Directorate General (such as reports, notes and internal briefings) and coordinate contributions from the team and other experts;
• provide guidance to junior colleagues;
• liaise with stakeholders, including ECB banking supervisors, national competent authorities and the European Banking Authority.

For these roles we are seeking candidates who demonstrate the potential for growth and we will support the selected candidates in their development of the required skills.

These positions offer you a unique opportunity to contribute to European financial stability and learn from some of the best experts in the field of stress-testing and macroprudential policy impact assessment. 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 (see How you can join us for details on degree equivalences);
• in addition to the above, a minimum of seven years’ professional experience at expert or economist level in financial stability and macroprudential policy analysis (or a PhD in a relevant field plus three years’ professional experience at expert or economist level);
• experience in stress testing, in particular in developing and implementing top down models or in calibrating macro-financial scenarios;
• a working knowledge of one or more programming languages or software packages such as Stata, Python, Dynare, R, SQL or MATLAB;
• 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 PhD and a publication record in an area relevant to the work of the Division;
• proficiency in drafting briefings or policy notes and presenting analytical results.

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

Working modalities We would be happy to discuss part-time arrangements for these roles.

Further information The contracts offered will be fixed-term, the appointment being until 31 December 2025.

Temporary appointments may be extended or made permanent subject to organisational needs and budgetary constraints. This may result in a staff member with a non-convertible fixed-term contract being offered a convertible contract in accordance with the ECB Conditions of Employment.

For additional information on this specific vacancy, you can speak to the hiring manager, Katrin Assenmacher, on +49 (0)69 1344 95258 between 14:30 and 15:30 on Wednesday, 29 January or between 15:00 and 16:00 on Thursday, 30 January.

Application and selection process The recruitment process for this position will be conducted remotely. It will include a written exercise, a presentation and an interview.

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of How we hire), from which you might be considered for similar positions within the ECB.

Find out how to apply for a position at the ECB.

Read more about how you can join us.