Functional area: Risk Management

Reference: 2014-363-EXT

The Directorate Risk Management is responsible for developing 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 is organised into two divisions: the Risk Analysis Division and the Risk Strategy Division.
The advertised position is allocated to the Risk Analysis Division, which is primarily responsible for risk modelling and analysis and the reporting of financial risks as well as 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 and databases and related operational procedures.
The successful applicant will be entrusted with the following main tasks:

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

Applicants must have the following knowledge and competencies:

• a master’s degree in a relevant field (e.g. finance, economics, business administration, law, mathematics or computer science) combined with at least three years of relevant professional experience, or, alternatively, a bachelor’s degree in a relevant field combined with at least seven years of relevant professional experience and professional training in finance;
• proven experience in drafting briefings or policy notes, ideally at a central bank or other policy institution;

• an additional academic qualification, such as a PhD, or a generally recognised professional qualification in a relevant field, would be an asset;

• a working knowledge of computer programming languages relevant for financial applications (e.g. VBA, MATLAB, Python, C++, C#, Java or SQL) would be an asset;

• a working knowledge of one or more portfolio management, risk management and/or market data information systems (e.g. Reuters or Bloomberg) would be an asset;

• a working knowledge of quantitative risk management techniques, particularly in the fields of credit risk and market risk modelling, would be an asset;

• a working knowledge of the ECB’s monetary policy implementation framework, in particular the applicable risk control framework, would be an asset;

• an advanced command of English;
• a moderate command of at least one other official language of the EU;
• awareness of and interest in the role and functioning of the ECB;
• a 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;
• sees policies and frameworks through from the conceptual stage to their practical implementation;
• has an informed and balanced perspective when forming policy judgements;

• communicates ideas in an effective manner and ensures mutual comprehension;
• shares information and supports team members in the achievement of common goals;

• adapts to changing plans and circumstances with ease;
• understands the key organisational goals and the wider context in which we work;
• is comfortable working without close supervision, but knows when to involve others;
• generates agreed results within tight time frames.

Three-year fixed-term contract, with possible conversion to a contract of indefinite duration subject to individual performance and organisational needs.
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.

Closing Date for Applications: Fri, 16 Jan 2015

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

 Apply on the ECB e-recruitment portal