Market Infrastucture Expert
F/G
You will be part of the Securities & Derivatives Oversight Section of the Oversight Division in the Directorate General Market Infrastructure and Payments. The Oversight Division is responsible for defining oversight policies, frameworks and requirements for payment systems and instruments, clearing and securities settlement systems, supporting infrastructures, and offshore euro payment, clearing and securities settlement infrastructures. In your role as Market Infrastructure Expert, you will be part of a team of eight experts with responsibilities for central counterparties (CCPs) within the Securities & Derivatives Oversight Section, covering analysis and development of the ECB/Eurosystem stance on market developments and EU legal initiatives affecting the oversight of the above infrastructures. Our team conducts and coordinates assessments performed by the Eurosystem in its role as central bank of issue in EU CCP colleges and for third-country CCPs. We also work closely with other central banks and relevant authorities in European and international fora for financial market infrastructures (in particular CCPs) to ensure these infrastructures are resilient, with a view to avoiding systemic risk propagation in the wider financial system. To support our policy-making function, we also conduct research and quantitative analyses in the field of financial market infrastructures, including based on derivatives transaction data, in particular in relation to CCPs, interdependencies within the global financial system and interdependencies across financial market infrastructures as potential channels of transmission of systemic risk. To further enhance the diversity of our team, we particularly encourage applications from female candidates.
As a Market Infrastructure Expert you will:
- analyse and develop tools (e.g. risk indicators) to monitor risks related to CCPs and the central clearing network and analyse potential systemic risk implications, looking at how these risks affect liquidity conditions in the euro area financial markets and the conduct of monetary policy;
- carry out quantitative (e.g. econometric, network and multiplex) analyses of a variety of financial datasets, including transaction data on cleared and non-cleared derivatives and other micro and granular datasets;
- contribute to the drafting of policy notes on the oversight of CCPs, in particular helping to define the Eurosystem's stance as the central bank of issue in supervisory colleges for the EU and for third-country CCPs;
- work closely with other ECB business areas, national central banks, the European Commission, and other European, national and foreign authorities.
The position offers you excellent opportunities to work independently to conduct research activities with a strong analytical and quantitative focus, to join a dynamic and experienced team and to contribute to the smooth functioning of the overall system. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.
The recruitment process for this position may include a remote written exercise at the pre-screening stage and - if you are invited to participate further in the selection procedure - an on-site written exercise, a presentation and panel interviews. The appointment is until 30 April 2019 depending upon the starting date of the selected person.
Essential:
- a master's degree in economics, statistics, finance, physics, mathematics or another relevant field with a strong quantitative or computational background;
- at least two years', and preferably three years', experience in managing, processing and analysing sizeable quantities of very large granular financial datasets (“big dataâ€), as well as designing and developing indicators and reports to accompany analyses and assess quality;
- a sound understanding of financial markets and financial markets infrastructure, including CCPs;
- good knowledge of standard data providers and econometric packages;
- a sound understanding and working knowledge of statistical concepts, techniques and data preparation methods;
- programming skills and knowledge of data management programs (such as Excel and Access) and software used in applied research, such as Stata, R or Matlab;
- an advanced command of English and an intermediate command of at least one other official language of the EU.
Desired:
- a PhD or a research and publication background in economics, statistics, finance, physics, mathematics or another relevant field with a strong quantitative or computational focus;
- a working knowledge of the software used to process large datasets, such as Oracle, SAS, FAME, MS SharePoint, Stata, SQL or an equivalent statistical database management system.
Behavioural competencies: 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 are skilled at encouraging people to develop their abilities and are able to build up high-performing teams.
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.
Further information on the ECB's conditions of employment for fixed-term positions can be found at https://www.ecb.europa.eu/careers/what-we-offer/contract/fixed/html/index.en.html
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.
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