Traineeship (Graduate and PhD-level - Reference 2015-129-TRA)

The Macro-Financial Policies Division, which is part of the Directorate General Macroprudential Policy and Financial Stability, is seeking applications from recent graduates who have completed their bachelor's degree -, preferably with a master's degree - and from candidates who have successfully completed at least two calendar years of their PhD studies.

ABOUT THE DIVISION: The Macro-Financial Policies Division is responsible for designing and coordinating the ECB's macroprudential policies, including the analysis, preparation and monitoring thereof. The Division liaises and cooperates with the national competent or designated authorities in the design and implementation of macroprudential policy measures, a responsibility which is shared between the ECB and the Member States under the provisions of the Regulation on the Single Supervisory Mechanism (SSM). The Division works in close cooperation with the SSM structures and the European Systemic Risk Board (ESRB) in their respective areas of competence. It is also responsible for macroprudential publications.

JOB DESCRIPTION Based on their skills and analytical profiles, trainees will be asked to perform one or more of the following tasks:
- supporting the analytical work of the Division;
- contributing, where necessary, to data management (for instance in the fields of banking, financial markets and macroeconomics), data analysis (using advanced statistical packages) and the production of tables and charts;
- supporting the Division in the preparation of briefings, notes, presentations and papers of an analytical nature, covering a wide range of topics within the macroprudential domain, including policy and institutional issues.

The projects that successful candidates will be asked to work on include:
- assessment of macroprudential tools and their calibration;
- time series analysis;
- DSGE modelling and calibration;
- micro-econometrics;
- use of microeconomic data to analyse macro-financial aggregates;
- empirical banking;
- institutional and policy analysis.

QUALIFICATIONS AND EXPERIENCE: Applicants must have the following knowledge and competencies: For the graduate traineeship:
- a bachelor's degree, in finance, economics, statistics, physics, mathematics, computer science, financial law or a related discipline, with a master's degree (or a master's degree that is very close to completion) in one of the above disciplines being considered an asset;
- good analytical ability and familiarity with macroeconomic and financial market data sources (e.g. Datastream, Bloomberg, SNL), as well as with official financial sector statistics (ECB, Eurostat and Bank for International Settlements);
- ideally, the ability to programme in VBA language and excellent knowledge of at least one statistical program (e.g. Stata, Matlab);
- ideally, knowledge of analysing financial institutions' balance sheets;
- knowledge in at least one of the fields on which the projects will focus (see above).

FOR THE PHD TRAINEESHIP:
- a PhD, or successful completion of at least two calendar years of PhD studies, in finance, economics, statistics, physics, mathematics, computer science, financial law or a related discipline;
- knowledge of advanced econometric techniques;
- knowledge of advanced numerical techniques;
- excellent programming skills, with proficiency in C++ and R being considered an asset;
- knowledge in at least one of the fields on which the projects will focus (see above).

GENERIC TECHNICAL COMPETENCIES:
- an advanced command of English;
- an intermediate command of at least one other official language of the EU;
- ideally, a solid background in macroeconomic, financial and banking modelling;
- a working knowledge of MS Office and an excellent knowledge of MS Excel.

COMPETENCIES: The successful candidate(s) will have the following behavioural competencies:
- contributes to the success of projects by putting forward new ideas;
- pursues projects and tasks with energy and drive;
- communicates ideas in an effective manner and ensures mutual comprehension;
- shares information and supports team members in the achievement of common goals;
- delivers results within agreed deadlines.

Closing Date for Applications: 08.06.2015

FURTHER INFORMATION: Graduate/PhD traineeship from three to six months, with the possibility of an extension to up to 12 months in the same business area.

To further enhance the diversity of its workforce, the ECB particularly encourages applications from female candidates.

APPLICATION PROCEDURE: 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 and a telephone interview.

Before applying, applicants should check that they meet the conditions set out in Article 3 of the rules governing the traineeship programme: http://www.ecb.europa.eu/ecb/jobs/pdf/traineeship_programme.pdf

Further information on the ECB's traineeships can be found at https://www.ecb.europa.eu/ecb/jobs/apply/html/index.en.html

Applicants are accepted from nationals of the 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 traineeship 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.
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