Financial Risk Analyst – Risk Modelling and Valuation - European Central Bank
Type of contract: Fixed-term contract, which may be extended subject to individual performance and organisational needs
Who can apply?: EU nationalsSalary: E/F (1) (minimum full time monthly net salary €4,229 and benefits, see further information section)
Role specialisation: Financial Risk Modelling
Working time: Full time
Place of work: Frankfurt am Main, Germany
Closing date: 21.04.2022
You will be part of the Risk Strategy Division in the Directorate Risk Management. Our Directorate has 56 staff and is responsible for proposing policies and procedures that ensure an appropriate level of protection against financial risks for (i) the ECB in the conduct of financial market (i.e. investment) operations, and (ii) the Eurosystem in the conduct of monetary policy operations.
In the Risk Strategy Division, we design and maintain risk management frameworks and policies for the Eurosystem’s monetary policy operations. We also analyse structural developments in financial markets and financial regulation, as well as climate change policy, to identify potential implications for the Eurosystem’s risk management frameworks.
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 age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.
As a Financial Risk Analyst, you will:
- contribute to the implementation of risk management projects in the context of the Eurosystem’s credit operations and non-standard monetary policy measures (e.g. as regards eligibility requirements for collateral, the valuation of collateral, haircuts and climate change risks);
- support analytical work within the Risk Strategy Division, including the preparation of analytical input for the development of the Eurosystem’s risk control frameworks and policies;
- design and maintain valuation methods for collateralised operations and outright purchases of financial assets;
- develop and maintain liquidity and market risk management models and prepare analysis based on model simulations;
- develop and maintain IT applications and tools, working with complex financial databases.
This position will offer excellent opportunities to leverage your passion for the modelling of financial risk, working closely with other business areas across the ECB, as well as the national central banks of the Eurosystem and market participants. You will be part of a dynamic multicultural team with a wealth of business-related and technical expertise that strives for continuous innovation to make a positive impact on the lives of European citizens.
We will provide a wide range of training to support you in your further professional development.
Qualifications, experience and skills
- a bachelor’s degree or equivalent in accounting, business administration, computer science, economics, econometrics, finance, physics, mathematics, statistics, a different STEM subject or another relevant field (click here for details on degree equivalences );
- in addition to the above, a minimum of one year of professional experience (which can include traineeships) in the field of risk management, which should include experience of devising financial risk models and fixed-income valuation methods to control risk exposures (e.g. statistical distributions, volatility modelling, and value-at-risk and yield curve modelling);
Practical experience of:
- using data management languages such as SQL at an advanced level;
- developing and maintaining risk modelling tools using Python, Matlab, R or C (at least one of them at an advanced level);
- a solid understanding of the Eurosystem’s risk management framework;
- experience of drafting concise reports, analytical notes and briefings, coupled with strong presentation skills;
- 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 .
- a master’s degree and/or professional certification in the area of finance or risk management (e.g. CFA or FRM);
- knowledge of climate change and its implications for financial risk management;
- a good knowledge of market information services such as Bloomberg or Reuters.
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 motivated to be part of our team and to develop and use your skills and competencies to achieve the objectives of this position.
Temporary appointments may be extended or made permanent subject to organisational needs and budgetary constraints. This may result in a staff member with a non-convertible fixed-term contract being offered a convertible contract in accordance with the ECB Conditions of Employment.
The contract offered will be fixed-term, the appointment being for two years as of the exact starting date of the selected person.
For additional information on this specific vacancy, you can contact Gonzalo Camba-Méndez, Senior Team Lead in the Risk Strategy Division (Gonzalo.Camba-Mendez@ecb.europa.eu), indicating the reference number for this recruitment campaign (4931) in the subject line of the email.
Application and selection process
The recruitment process for this position will be conducted remotely. It will include a written exercise, a presentation and interviews.
If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of how we hire ), from which you might be considered for similar positions within the ECB.
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