You will be part of the Supervisory Policy Division in the Directorate General Horizontal Line Supervision, which performs the horizontal and specialised functions needed to carry out banking supervision. The Supervisory Policy Division is responsible for coordinating and developing policy and deals with regulatory and supervisory policy issues.
In your role as a trainee within this Division, you will be assigned to one of the following sections or teams.
Prudential Regulation and Accounting Section
In your role as a trainee you will help to provide advice to Joint Supervisory Teams (JSTs) on all issues related to accounting and to the prudential framework. You will contribute to supervisory policy research and draft technical opinions addressed to JSTs and banks. You will support the technical experts that represent the ECB in international committees (e.g. on accounting, own funds and market risk). You will also evaluate market developments and help to develop adequate supervisory policies to address them, including by conducting impact assessments.
European Policies Section
As a trainee in the European Policies Section, you will support the production of policy advice and analysis on a variety of high-profile and cross-cutting policy topics and initiatives. These include the development of the institutional framework of the banking union and of the wider EU financial sector; policies affecting the structure of banking groups operating in the euro area and the integration of the euro area banking sector, including through consolidation and mergers; ECB Banking Supervision’s engagement in EU-level arrangements for macroprudential policymaking; issues arising from the United Kingdom’s withdrawal from the EU; and the coordination of ECB Banking Supervision’s response to the coronavirus (COVID-19) pandemic.
International Policies Section
As a trainee in the International Policies Section, you will contribute to the preparation and coordination of briefings and policy analysis relating to the activities of international institutions and fora, in particular the International Monetary Fund (IMF), the Bank for International Settlements, the G7/G20 and the main national supervisory authorities of non-EU countries. You will also support ECB Banking Supervision’s interaction and cooperation with the IMF, notably in the areas of regional and country surveillance and Financial Sector Assessment Programmes. In performing these tasks, you will get an in-depth insight into the international dimension of policymaking.
As a trainee in the Coordination team, you will contribute to the preparation and coordination of ECB Banking Supervision’s participation in European and international fora, such as the Basel Committee on Banking Supervision and the European Banking Authority. You will coordinate the preparation of briefings for the Chair of the Supervisory Board and other high-level officials for various international and bilateral meetings, in close cooperation with the experts in the Division and across all of ECB Banking Supervision’s business areas. In addition, you may contribute to policy advice and analysis related to deepening the banking union and EU legislation relevant for banking supervision.
The Single Supervisory Mechanism (SSM) is the system of banking supervision in Europe. It comprises the ECB and the national supervisory authorities of the participating countries.
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.
As a trainee you will:
- develop your analytical and technical skills in a number of policy areas and contribute to the development of supervisory policies;
- conduct quantitative impact assessments to monitor the effects of prudential frameworks;
- support data research, analysis and development activities;
- participate in project-oriented work – such as the horizontal analysis of European and international prudential regulation of supervised credit institutions – to ensure that business processes are properly conducted and well-supported;
- participate in policymaking (for instance on matters related to the Capital Requirements Regulation and Directive, including accounting, own funds, market risk, and banking and financial regulation and supervision more generally) and providing policy advice to Joint Supervisory Teams;
- help draft and organise briefings for ECB senior management ahead of their participation in policymaking committees of the ECB, other EU organisations and international policy institutions and fora as well as standard-setting bodies.
The position offers you excellent opportunities to learn about horizontal banking supervision and providing policy advice in the context of banking supervision. 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 higher in economics, econometrics, law, business administration, statistics, mathematics, engineering, finance, physics, computer science, accounting or another similar discipline;
- a keen interest in bank-related risk analysis, policymaking, financial regulation and the implementation of supervisory standards and practices;
- a good knowledge of the MS Office package;
- an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages, read more here: https://www.coe.int/en/web/common-european-framework-reference-languages/table-1-cefr-3.3-common-reference-levels-global-scale
- sound knowledge of financial statements and financial products;
- ability to understand financial markets, including complex financial instruments and their risks;
- sound knowledge of Microsoft Excel;
- sound knowledge of EU banking policy and EU and international policymaking institutions.
You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.
Traineeship of between 6 and 12 months in total.
The recruitment process for this position will include a pre-recorded interview in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – online interviews via WebEx. The starting dates for this position vary from autumn 2020 to the first quarter of 2021.
Application and selection process
For further information on how to join us, read more here: https://www.ecb.europa.eu/careers/before-you-apply/html/index.en.html