Trusted Jobs

Deadline for application: 28 September 2021

We are looking for banking experts to join our dynamic and diverse team in the Financial Sector and Market Analysis (“FSM”) division, part of the Chief Economist department, of the European Stability Mechanism (“ESM”).

The FSM division analyses risk developments in the euro area financial sector and investigates macro-financial interlinkages and policy implications for the euro area and its member states. The division follows the market activity of financial institutions and the related indicators to complement the fundamental and macro analyses with the market view. The FSM risk analysis informs country-based monitoring in the context of financial assistance post-programme activities and assists other divisions in response to financial assistance requests by estimating potential financing needs and sectoral weaknesses. FSM experts may participate in country missions as part of the post-programme monitoring framework.

The successful candidate will support the FSM team in in the development and execution of an enhanced risk-monitoring framework to detect systemic risks stemming from the banking sector and to inform the ESM policy response. S/he will participate in developing and maintaining the division’s models to support the analysis of banking and financial sector risks. S/he will contribute to the operational implementation of the “common backstop” to the Single Resolution Fund. S/he may participate in country monitoring activities under the ESM’s Early Warning System).

The ESM is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. European leaders have agreed to an expanded mandate for the ESM, which it will implement in the years ahead. The ESM will have a stronger role in the analysis of financial stability risks and design of policy measures in programmes, jointly with the European Commission; it will provide the Single Resolution Board with a financial backstop to support effective and orderly resolution of banks.

The ESM is a unique place to work with around 220 individuals committed to making a difference to the future of the euro area. It recruits talented professionals from every nationality from both the private and public sector.

KEY ACCOUNTABILITIES

• Analyse the business profile of banks and identify key drivers of their profitability, solvency, and market valuation;
• Identify macro and financial factors affecting banking sectors in specific countries and in the euro area as a whole through casual and correlation analyses, scenarios, simulations, and stress testing;
• Provide technical analysis and advice on the design and implementation of banking sector policies in programme countries;
• Understand and analyse top-down and bottom-up banking stress tests;
• Develop econometrics models to support the division’s analytical activity;
• Contribute to the implementation of the framework related to the common backstop of the Single Resolution Fund, its future maintenance and utilisation;
• Support the country and the common backstop teams in performing their risk monitoring activities;
• Support the preparation of banking sector policy notes for ESM governing bodies’ meetings;
• Participate in building a monitoring framework to analyse the links between the banking and non-banking sectors.

KEY BACKGROUND & EXPERIENCE

• Advanced university degree, preferably with a specialisation in banking, finance, or econometrics;
• Ideally two-to-six years of relevant professional experience in at least one of the above fields;
• Thorough understanding of individual bank analysis and banking industry trends;
• Significant experience in applied econometric analysis and familiarity with modelling methods;
• Good general quantitative skills and software proficiency (e.g. R, Stata, etc.);
• Proficiency in Microsoft Office;
• Experience in Bloomberg or Reuters is a plus;
• Diverse experience within the private sector and international financial institutions or other international organisations would be an asset;
• Excellent oral and written English skills. Any additional languages are an asset.

KEY COMPETENCIES

• Analytical and problem solving skills;
• Critical, innovative and strategic thinking;
• Communication and interpersonal skills;
• Resilience and flexibility;
• Ability to adapt to changes and proactively introduce effective changes;
• Team work and collaboration;
• Leveraging diversity and inclusion.

Contract duration: Two-to three-year fixed term contract, with the possibility of extension.

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To enhance the diversity of our workforce, we particularly encourage women to apply.

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