You will be part of the Money Market and Liquidity Division in the Directorate General Market Operations. Our Division has 30 staff members who implement the ECB’s monetary policy by conducting decentralised open market operations, aggregating the consolidated Eurosystem balance sheet, forecasting autonomous factors for calculating banking system liquidity, and providing analysis and reports on money market developments. We are currently working on improving our money market knowledge using transaction-level data and facilitating the reform of the euro money market benchmark rates.
In your role as Market Operations Expert (ESCB/IO) you will be part of a team responsible for the Division’s core operational and market monitoring activities. You will also prepare analyses, reports and policy dossiers related to the Division’s main tasks. You will work closely with colleagues from the national central banks and other ECB business areas, and maintain relationships with market participants.
To further enhance the diversity of our team, we particularly encourage applications from female candidates.
As a Market Operations Experts (ESCB/IO) you will:
- participate in the preparation and implementation of monetary policy operations;
- aggregate and analyse data on Eurosystem balance sheet developments and banking sector liquidity;
- participate in the regular market monitoring activities of the Division, including contributing to briefings and reports in the Division’s area of responsibility;
- contribute to analyses of operational issues and market developments, with a view to supporting policy analysis work in the Division’s area of responsibility;
- maintain and develop relationships with a broad range of market counterparties.
These positions offer you excellent opportunities to further develop your skillset in the area of central bank monetary policy implementation and money market analyses based on a unique set of transaction-level data. 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 master’s degree or equivalent in business administration, economics, finance, mathematics, statistics or a related field (for details on degree equivalences, read more);
- an in-depth understanding of the functioning of financial markets in general, and of money markets in particular;
- an ability to extract policy messages from analyses of market and operational developments;
- experience in drafting management briefings or policy notes;
- a good knowledge of the ECB’s operational and liquidity management framework;
- a working knowledge of MS Office, in particular Word, Excel and PowerPoint;
- an advanced command of English and an intermediate command of at least one other official language of the EU.
- experience in applying quantitative methods and tools relevant to analysing money markets, or in participating in central bank operations or the preparation of liquidity forecasts;
- experience with Reuters and Bloomberg.
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.
To enable the Division to monitor money market activity during the entire trading day, perform operational tasks related to Eurosystem liquidity management and calculate the euro overnight index average (EONIA), you will be expected to work on a shift system to ensure the Division is staffed from 08:00 to 19:00 on all TARGET2 working days.
To enable the Division to maintain its business continuity capability, you will occasionally be expected to perform work during non-standard working hours and work at the ECB’s standby sites.
We are willing to discuss part-time arrangements.
For additional information on this specific vacancy, you can contact Holger Neuhaus, Head of Division, via email at firstname.lastname@example.org and Julija Jakovicka, Deputy Head of Division, via email at email@example.com.
The contract offered will be a fixed-term position available as of 1 June 2019 for 12 months, which may be extended up to 36 months subject to individual performance and organisational needs.
The recruitment process for this position may include a remote written exercise/an online interview via WebEx at the pre-selection stage and – if you are invited to participate further in the selection procedure – an on-site written exercise, a presentation and interviews.