Functional area: Risk Management

Reference: 2015-097-EXT S

The Directorate Risk Management is responsible for proposing and maintaining the risk management framework for all of the ECB’s financial market operations, and for monitoring, assessing and proposing improvements to the Eurosystem’s operational framework for monetary and foreign exchange policy from a risk management point of view. The Directorate comprises two divisions: the Risk Analysis Division and the Risk Strategy Division.
The advertised position is in the Risk Analysis Division, which is primarily responsible for risk modelling, for the analysis and reporting of financial risks and for compliance monitoring as regards the ECB’s monetary policy and investment operations. The Division also conceptualises, implements and maintains the associated infrastructure, which comprises risk models, systems, databases and related operational procedures.
The successful applicant will be entrusted with the following main tasks:

• preparing and contributing, by providing quantitative risk management input, to the production of reports, analysis and dossiers on risk management issues for the ECB’s Risk Management Committee and for the ECB’s decision-making bodies;
• contributing, by providing quantitative risk management input, to the production of reports, analysis and dossiers on policy issues for the ECB’s decision-making bodies, including aspects such as the evaluation and design of non-standard policy measures and other contributions to regular and ad hoc policy dossiers;
• contributing to the design and implementation of the risk control frameworks applicable to the ECB’s investment operations, in particular those for the management of the ECB’s foreign reserves and the ECB’s euro-denominated investment portfolio;
• contributing to the preparation of regular reports analysing the risk exposure, potential impairments, compliance with the risk control framework and performance associated to the ECB’s investment and Eurosystem monetary policy portfolios;
• contributing to the performance of other ad hoc and recurring tasks, as well as to carrying out projects aimed at improving the infrastructure and business processes necessary for the performance of the work of the Division (risk models, systems, databases and operational procedures and processes).

Applicants must have the following knowledge and competencies:

• a master’s degree in finance, economics or a quantitative field such as mathematics, statistics or computer science, or a bachelor’s degree in the same subjects with at least four years of relevant working experience;

• hands-on experience of at least two years (six years in the case of a bachelor’s degree) with implementing quantitative risk management models in an academic or professional context;

• a working knowledge of financial markets and financial products, in particular fixed-income products such as public debt securities and structured finance instruments (asset-backed securities and covered bonds);

• a working knowledge of MATLAB;

• a working knowledge of other programming languages, preferably VBA and SQL, would be an asset;
• a working knowledge of one or more information systems in the following fields: portfolio management, risk management and/or market data (e.g. Reuters or Bloomberg) would be an asset.

• a solid understanding of the financial risks embedded in a central bank’s balance sheet would be an asset, ideally gained working at a central bank;

• an advanced-level command of English;
• a moderate-level command of at least one other official language of the EU ;
• awareness and interest in the role and functioning of the ECB;
• an excellent working knowledge of MS Office, in particular Word, Excel and PowerPoint;

The successful candidate will have the following behavioural competencies:

• analyses complex datasets from a variety of sources;
• creates a theoretical framework that helps in the deployment of practical solutions;
• simplifies complex processes, increasing the speed and/or quality of output;
• defines success in terms of the team as a whole;
• adapts to changing circumstances with ease;
• generates agreed results within tight time frames;
• pursues projects with energy and drive;
• understands the key organisational goals and the wider context in which the ECB/Division works;
• is comfortable working without close supervision, but knows when to involve others;

Two-year fixed-term contract. 
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: Thu, 23 Apr 2015

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

 Apply on the ECB e-recruitment portal