Senior Economists (ESCB/IO) – Monetary Analysis

at  The European Central Bank

General Information
Type of contract Short-term contract, which may be extended to up to 36 months subject to individual performance and organisational needs
Contract end date 30.11.2025
Who can apply? EU nationals working for national central banks of the ESCB, international governmental organisations or other employers performing central banking or banking supervision tasks within the framework of the Eurosystem
Salary F/G (bracket 2 - step 1) full time monthly net salary: €7,613 plus benefits, for further information see what we offer.
Working time Full time
Place of work Frankfurt am Main, Germany
Closing date 08.09.2024
Your team
We are seeking applicants to fill two Senior Economist positions.
In your role as a Senior Economist, you will be part of one of the two sections in the Monetary Analysis Division in the Directorate General Monetary Policy: the Bank Lending Conditions Section and the Money, Credit and Financial Accounts Section. Each section is made up of around 20 staff members.
Our Division is responsible for monitoring and analysing monetary and financial developments in the euro area from a microeconomic and macroeconomic perspective, focusing on monetary and credit aggregates and financial accounts. We apply state-of-the-art empirical methods to granular data taken from credit registers and the balance sheets of banks, firms and households. We also analyse how macro-financial linkages, central bank digital currencies and climate change may affect monetary policy transmission and broader financing conditions.
In the Bank Lending Conditions Section, we analyse the transmission of monetary policy via banks, including its interaction with microprudential and macroprudential policies. We contribute to the calibration of standard and non-standard monetary policy measures, assessing their effectiveness. We also have primary responsibility for the ECB’s bank lending survey.
In the Money, Credit and Financial Accounts Section, we monitor and analyse money and credit dynamics, lending rates and funding conditions, as well as the euro area integrated financial accounts. Using macroeconomic and granular data, we analyse monetary and financial developments in the euro area, focusing on monetary and credit aggregates.
You will work closely with the staff and management team of the Division and the Directorate General, as well as with stakeholders in other business areas across the ECB.
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.
Your role

As a Senior Economist you will:

• contribute to and support the team’s input to high-level policy documents, including speeches by Executive Board members;
• engage and collaborate with staff members and management within the Division, the Directorate General and across the ECB;
• contribute to monitoring and designing monetary policy instruments for supporting the transmission of monetary policy through the banking channel;
• foster the team’s modelling infrastructure and use it to provide policy advice;
• support the team in its assessment of monetary policy transmission in the euro area;
• provide support to junior colleagues;
• present and discuss key policy issues in ECB and Eurosystem fora.

We are seeking candidates for these roles who demonstrate the potential for growth, and we will support the selected candidates in their future development of the required knowledge, skills or competencies.
We value a track record of diverse relevant experience gained through internal or external mobility and/or positions held prior to working at the ECB.
The position offers you excellent opportunities to contribute to shaping the understanding of the transmission of the monetary policy response to inflation and the broader economy. In doing so, you will work with and be supported by a highly motivated and skilled team using state-of-the-art empirical methods and unique data sources. 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

Essential:

• a master’s degree or equivalent in economics, finance or another relevant field (see How you can join us for details on degree equivalences);
• in addition to the above, a minimum of seven years’ professional experience at the level of an economist in preparing policy-related analytical material (or a PhD in a relevant field plus three years’ professional experience at the level of an economist);
• sound understanding of the transmission mechanism of monetary policy through the banking channel;
• experience preparing high-quality policy documents, drawing on state-of-the-art analytical studies and models;
• 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.

Desired:

• a PhD or a research and publication record in economics, finance or another relevant field.

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 aims of this position.
Working modalities
We would be happy to discuss a part-time arrangement for this role.
Further information
The contracts offered will be short-term ESCB/IO, the appointment being for 12 months as of the exact starting date of the selected person, extendable to up to 36 months.
Candidates must have a contract of employment with their home institution for a period of at least one year beyond the duration of the ECB contract being offered.
For additional information on these specific vacancies, you can contact the hiring managers: for the Bank Lending Conditions Section, Lorenzo Burlon, at lorenzo.burlon@ecb.europa.eu; and for the Money, Credit and Financial Accounts Section, Miguel Boucinha, at miguel.boucinha@ecb.europa.eu.
Application and selection process
The recruitment process for these positions will be conducted remotely. It will include a written exercise, a presentation and an interview.
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.
Find out how to apply for a position at the ECB.
Read more about how you can join us.

Please refer the Job description for details