The European Central Bank

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Market Operations/ Financial Risk Analyst at The European Central Bank

Expires in 11 days

Type of contract: Fixed-term contract which may be converted into a permanent contract after three years subject to individual performance and organisational needs

Who can apply?: EU nationals

Salary: E/F (1) (minimum monthly net salary €4,167 and benefits, see further information section)

Working time: Full time

Shift?: Yes

Place of work: Frankfurt am Main, Germany

Closing date: 27.01.2021

Your team

You will be part of either the Directorate General Market Operations (DG/M) or potentially the Directorate Risk Management (D/RM). These two business areas cooperate closely on implementing the monetary policy operations of the Eurosystem and controlling any associated risks. They share a strong focus on performing daily tasks at a very high level of reliability under tight time constraints.

DG/M has around 180 staff implementing the ECB’s monetary policy, monitoring financial markets and managing the ECB’s financial assets. D/RM has around 50 staff and is responsible for proposing policies and procedures which protect the Eurosystem against financial risks in its monetary policy operations and protect the ECB in its investment and reserve management operations.

In your role as a Market Operations Analyst/Financial Risk Analyst, you will be part of a division within DG/M or D/RM of around 30 to 40 members of staff. Depending on the division to which you have applied or been assigned, you will be responsible for supporting one of the following areas of activity

  • executing Eurosystem credit operations and liquidity management activities, monitoring money market activities and reporting and administrating the euro short-term rate (€STR);
  • managing the ECB’s foreign reserves and own funds, monitoring and reporting on developments in the bond, equity, commodities and foreign exchange markets, and coordinating and implementing the Eurosystem’s asset purchase programmes, foreign exchange interventions and related matters;
  • coordinating nostro reconciliation procedures and legal documentation with counterparties for the ECB’s monetary policy and investment portfolios;
  • monitoring, analysing and assessing developments in the eligibility of assets as collateral and their mobilisation in the context of the Eurosystem collateral framework, as well as in the eligibility of counterparties in the context of the Eurosystem’s monetary policy implementation framework;
  • modelling, analysing and reporting on financial risks, and monitoring the compliance of monetary policy and investment operations with the financial risk control framework, or designing and maintaining the risk management frameworks and policies governing Eurosystem credit operations and non-standard monetary policy measures.

All of these roles involve working with advanced IT infrastructures and you will play a role in the ongoing development of these systems. You will work closely with both colleagues in the other divisions of DG/M and D/RM as well as stakeholders inside and outside the ECB.

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply, irrespective of your gender, gender identity, ethnicity, sexual orientation, age, religion, disability or other characteristics.

Your role

  • conduct operational and/or risk management activities with a high degree of accuracy and reliability;
  • combine and aggregate data from multiple sources and prepare analyses and visualisations of relevant market or financial risk developments;
  • support analytical work in your Division, including the preparation of analytical input for the development of the Eurosystem’s monetary policy implementation tools and strategy;
  • present findings at various EU and euro area-level fora;
  • develop and maintain IT applications and tools, working with complex databases of financial and operational data;
  • help develop and automate data management processes to support the wide and timely distribution of reports;
  • coordinate with other business areas on analytical work, systems implementation, database improvements and secure data sharing;
  • document processes and help trainees contribute to the work and objectives of the relevant Division;
  • handle contractual documentation and due diligence activities with financial market counterparties.

The position offers you excellent opportunities to leverage your passion for financial markets and to work in a dynamic team with diverse business and technical expertise, collaborating directly with numerous business areas across the ECB as well as with Eurosystem national central banks and market participants. We provide a wide variety of training courses to support you in your further professional development. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

Qualifications, experience and skills

  • a bachelor’s degree or equivalent in economics, econometrics, statistics, mathematics, finance, accounting, business administration, computer science, physics or another relevant field
  • a sound understanding of financial market functioning, financial market developments, market operations or risk management;
  • a solid knowledge of the Eurosystem’s monetary policy implementation / risk management framework and/or experience with the related processes;
  • an in-depth knowledge of Microsoft Office, particularly Excel and PowerPoint;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, .

Desired

  • experience of working in the Eurosystem;
  • professional experience with market information services (e.g. Bloomberg or Reuters);
  • good analytical and econometric skills and a proven ability to collect, organise and analyse large datasets;
  • professional experience in data management, modelling, processing and automation;
  • professional experience using programming languages such as VBA, SQL or Python and data visualisation tools such as Tableau;
  • experience in developing, testing, implementing and maintaining IT applications;
  • professional experience in front/middle/back office and/or accounting, and/or with treasury management systems and/or risk control/analysis in the fields of portfolio management, risk management, settlement, reconciliation and/or financial accounting;
  • experience as a business user of a financial trading platform (e.g. Tradeweb) and/or the SWIFT financial messaging system;
  • experience in handling contractual documentation and due diligence activities (e.g. know your customer, anti-money laundering) with financial market counterparties and knowledge of financial market regulations;
  • a master’s degree and/or professional certification in the area of finance or risk management, e.g. CFA or FRM.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs. You pay attention to detail and deliver high-quality results within tight deadlines.

You are motivated to be part of our team and utilise your skills and competencies to achieve the objectives of this position.

Working modalities

To enable your division to cover global market developments and to maintain its business continuity capability, you will occasionally be expected to perform work in shifts as well as during non-standard working hours and to work at the ECB’s standby sites.

Further information

Some of the contracts will be convertible into permanent contracts after three years subject to individual performance and organisational needs.
The formal title for positions in DG/M will be Market Operations Analyst, while positions in D/RM carry the title Financial Risk Analyst.
For additional information on this specific vacancy, you can speak to Alexander Düring, Adviser in the Bond Market and International Operations Division, on +49 69 13 44 20840.

Application and selection process

The recruitment process for this position will include a pre-recorded video interview in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – an on-site written exercise and interviews.