Functional area: Risk Management

Reference: 2014-367-EXT

The European Central Bank (ECB) is seeking several Analysts for its Directorate Risk Management (D/RM). D/RM 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 implementation from a risk management perspective. It also provides secretariat services to the Risk Management Committee of the Eurosystem.
D/RM comprises a multicultural team of highly skilled professionals working in two divisions: the Risk Strategy Division and the Risk Analysis Division. The successful candidates will join the Risk Strategy Division, which is mainly responsible for evaluating and improving the ECB’s risk management policies and frameworks. This includes work related to the asset-backed securities purchase programme and the third covered bond purchase programme.
The successful applicants will be entrusted with some, or all, of the following main tasks:

• developing, specifying and implementing IT solutions for risk management, including risk management databases aimed at improving the infrastructure that supports the work of the Risk Strategy Division;
• conducting price validation for structured finance transactions, including the setting-up and maintenance of the analytical infrastructure;
• conducting due diligence and credit assessments of structured finance transactions, including the implementation of appropriate default and cash-flow modelling on the basis of loan-level data;
• collecting, processing and analysing data needed for the work of the Risk Strategy Division;
• preparing and drafting proposals on topics related to the risk management of investment and monetary policy operations.

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;

• an in-depth knowledge of financial markets and financial products, in particular structured finance instruments (asset-backed securities and covered bonds);

• a good knowledge of programming languages, e.g. MATLAB, VBA or SQL;
• experience in the credit assessment and pricing of structured finance instruments would be a strong asset;
• knowledge of the Eurosystem’s collateral framework from a risk management perspective, in particular risk control, valuation and the Eurosystem credit assessment framework (ECAF), would be a strong asset;

• experience in drafting briefings or policy notes would be an asset.
• an advanced command of English with a proven ability to draft clear and structured proposals on complex topics;
• a good knowledge of at least one other official language of the EU;
• a working knowledge of MS Office, in particular Word, Excel, PowerPoint and Access.

The successful candidates will have the following behavioural competencies:

• manages his/her own workload independently, without burdening other team members unnecessarily;
• shares information and supports team members in the achievement of common goals;

• analyses complex datasets from a variety of sources;
• adapts to changing circumstances with ease and generates agreed results within tight time frames;
• pursues projects with energy and drive;
• communicates effectively;
• establishes and maintains cooperative relationships with staff and management at all levels, both inside and outside the organisation;
• takes a hands-on approach to dealing with new challenges.

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

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/suitable 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: Fri, 16 Jan 2015

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

 Apply on the ECB e-recruitment portal