We are looking for Financial Economist to support our team of quantitative analysts, econometricians, and financial sector and banking experts in the Financial Sector and Market Analysis division, part of the Chief Economist department of the European Stability Mechanism (ESM). The selected candidates will report to the Head of Financial Sector and Market Analysis.
The Financial Sector and Market Analysis division analyses risk developments in the euro area financial sector and investigates macrofinancial interlinkages and policy implications for the euro area and its member states. The division follows the market activity of financial institutions and the related indicators to complement its fundamental macroanalyses with market intelligence. The risk analysis informs the ESM’s monitoring of country-based financial assistance programme and post-programme activities and assists other divisions in responding to financial assistance requests by estimating potential financing needs and sectoral weaknesses.
The successful candidate will be part of a team tasked with the development and integration of the existing analytical toolkit to detect risks stemming from the financial sector and assess how economic and policy developments can affect the performance and riskiness of financial institutions and the financial sector of euro area countries. The selected candidate will also assist with the enhancement of a novel framework to detect financial stability risks, build scenario analysis, project financial metrics, and evaluate macrofinancial linkages. The chosen candidate will also support the team in the execution of its risk monitoring processes and in informing the ESM policy response in relevant fora and, in addition, may be involved in the monitoring of risk in the insurance sector across Europe, depending on previous experience.
The ESM is an international financial institution established by the ESM Treaty in 2012. The ESM Members are the eurozone countries. Its mission is to enable the countries of the euro area to avoid and overcome financial crises and to maintain long-term financial stability and prosperity. More information about the ESM.
In support of the ESM’s Financial Sector and Market Analysis division, the selected candidates will perform the following tasks:
- Serve as subject matter expert on financial sector/banking risks, financial stability, and macrofinancial linkages.
- Build and apply analytical tools and models that provide insight on economic and financial developments and risks in euro area countries and for the euro area as a whole.
- Produce high-quality research on topics related to the ESM’s role as a crisis resolution organisation with specific focus on systemic risks, macrofinancial linkages, and related policies.
- Contribute to policy design and to the translation of analytical results into policy guidance.
- Produce notes and reports to support the ESM‘s monitoring and analysis of economic and financial developments in member countries and the euro area.
- Support ESM’s interactions with the economic and research teams of peer organisations in the euro area and globally, in particular with the European Commission, the European Central Bank, and the International Monetary Fund, as well as researchers and analysts in academia and financial market institutions.
KEY BACKGROUND & EXPERIENCE
- Master’s degree, preferably in economics, finance, or econometrics. A PhD would be a valued asset
- Minimum of two years of practical experience in economic analysis using statistical software (e.g. R, Stata, Python). For PhD holders, up to two years of relevant research work, performed in the context of PhD studies, can be considered as relevant work experience
- Experience in analysing financial institutions’ performance with public databases (like SNL, FITCH Connect, Bloomberg and similar) and supervisory data would be an asset
- Knowledge of the insurance sector and/or modelling/quantitative skills are an advantage
- Experience working with cross-functional teams would be an asset
- An academic publication track record would be an asset
- Proven ability to draft technical documents and present information professionally and concisely
- Ability to transform data into compelling and influential written and oral arguments
- Excellent oral and written English skills
- Analytical and problem-solving skills
- Critical and innovative thinking
- Rigour and attention to detail
- Communication and interpersonal skills
- Teamwork and collaboration oriented
- Resilience, flexibility, and adaptability
- Inclusiveness and respect to diversity
- Deadline for application: 14 December 2023
- Employment Grade: Officer
- Contract duration: Four years, with possibility of extension
- Place of employment: Luxembourg
- Current working arrangements: possibility to work remotely, normally up to two days a week, from Luxembourg and the border region (or from further away under certain conditions).
The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.