Trusted Jobs

Group 58Group 56check - FontAwesomeGroup 57Page 1Group 12

Deadline for application: 22 June 2020

We are looking for a Head of the Economic Risk Analysis (ERA) Division. The successful candidate will lead a team of highly professional economists whose main remit is to follow and assess macroeconomic and financial risks in euro area countries. S/he is responsible for the Division’s analytical and policy work on economic and financial developments and risks, and plays a leading role in shaping and implementing the ESM’s work on reform programmes associated with the ESM’s financial support to member countries. As a member of the department’s management team, s/he contributes to the strategic and operational leadership of the department and the ESM overall. The selected person will report to the ESM’s Chief Economist.

The European Stability Mechanism (“ESM”) is the permanent crisis resolution mechanism for euro area countries. It has launched five financial assistance programmes, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest. The ESM has recently received an expanded mandate from European leaders, which it will implement in the months and years ahead. The ESM will have a stronger role in financial stability risk analysis and the design of policy measures in programmes jointly with the European Commission.

The ESM is a unique place to work with around 200 individuals from around the world committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sector.


  • Deliver on objectives critical to the ESM’s mandate as a crisis resolution mechanism, including by developing and implementing the framework for macro-economic and financial analysis focused on risk identification and management;
  • Ensure high-quality programme and post-programme work, by developing and maintaining the skills and team collaboration needed for effective delivery of financial assistance to a member country and monitoring its repayment capacity;
  • Identify research priorities on economic and financial issues linked to the ESM’s stability and crisis management function. Build and maintain the analytical infrastructure for the division’s tasks;
  • Work closely with other parts of the institution, in particular, the Economics and Market Analysis (EMA) and Financial Sector and Market Analysis (FSM) Divisions, in developing and implementing the ESM’s framework for following macroeconomic and financial risks in euro area member countries;
  • Provide strategic and analytical support for the ESM’s financial functions (the Funding, Investment, and Asset and Liability Management teams), building collaborative relationships that exploit the synergies between macro-financial analysis and market intelligence;
  • Steer and support the ESM’s assessment and policy views of economic and financial issues, and contribute to the ESM’s outreach and communication strategy, ensure the timely and high-quality delivery of the division’s tasks, including regular reports and analytical and policy papers;
  • Promote and enhance the ESM’s role and relations with peer institutions (such as the European Commission, ECB, IMF), national authorities, and relevant academic and private sector institutions. Further strengthen the cooperation with other regional financing arrangements in the Global Financial Safety Net;
  • Together with the Deputy Head of Division, ensure effective team management and staff development in an inclusive manner and in line with ESM values and behaviours, to maintain and strengthen a high level of engagement and professionalism of all team members.


  • PhD or Master’s degree, preferably in Economics or Finance;
  • At least 15 years’ relevant professional experience, including a minimum of five years’ professional experience in a similar role at a similar level of responsibility;
  • Proven track record in managing diverse and multicultural teams;
  • Programme work experience is considered a strong asset;
  • In-depth knowledge of economics, econometrics, and market analysis;
  • A publication record is desirable;
  • Fluent English (oral and written), other language skills are considered an asset.


  • Strategic and creative thinking;
  • Ability to lead and inspire;
  • Interpersonal and management skills;
  • Ability to deliver to tight deadlines;
  • Analytical and problem-solving skills;
  • Skilled in persuasion and influencing;
  • Excellent communication and presentation skills.

Contract duration: 5-year fixed-term contract, with possibility of extension

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

Apply Now