Traineeships in the Directorate General Monetary Policy, Frankfurt 293 views

Traineeships in the Directorate General Monetary Policy

You will join the Directorate General Monetary Policy (DG/MP). DG/MP analyses the ECB’s monetary policy strategy and stance, as well as monitors monetary and financial developments. It also contributes to decision-making and external communications (e.g. through economic research papers, speeches and official ECB publications). You will be offered a traineeship in one of the following three divisions: The Capital Markets and Financial Structure Division is responsible for monitoring, analysing and studying non-bank transmission of monetary policy, as well as cyclical and structural developments in the financial markets that have an impact on the euro area from a monetary policy perspective. The Monetary Policy Strategy Division analyses and assesses the ECB’s monetary policy stance, as well as longer-term strategic issues, and contributes to decisions on ECB interest rates and non standard monetary policy measures. It also develops models and tools with the aim of analysing euro area money markets and the impact that standard and non-standard monetary policy measures have on financial conditions and the wider economy. The Monetary Analysis Division monitors and analyses developments in money and credit, as well as looking at bank funding and lending conditions in the euro area from both a microeconomic and a macroeconomic perspective. It also develops quantitative and survey-based tools with a view to assessing the transmission of monetary policy – particularly the bank lending channel of monetary policy – and conducts studies looking at bank lending-related aspects of monetary policy. 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 your gender, gender identity, ethnicity, sexual orientation, age, religion, disability or other characteristics.

As a trainee, you will:

• work closely with your division’s economists and research analysts, contributing to the daily tasks of the division, as well as longer-term analytical projects;
• help economists to enhance and refine analytical and econometric tools;
• contribute to empirical analysis and analytical projects;
• work with a range of different datasets (including macroeconomic and microeconomic data, financial information and intraday data), as well as maintaining, updating and further developing the data infrastructure in the euro area;
• maintain and further develop existing quantitative tools and modelling infrastructure;
• contribute to the updating of charts and tables for regular internal and external reports and presentations, in cooperation with other business areas across the ECB.

This position will offer excellent opportunities to enhance your quantitative skills, carry out analytical tasks and work with experienced central bank economists at the heart of the monetary policy decision-making process. It will also allow you to gain unique insight into the analysis and policymaking that takes place in a central bank, as well as offering superb career development opportunities. You will be expected to work in a largely autonomous manner under the supervision of a mentor, who will facilitate your professional development. You will have access to the ECB’s library, key econometric software packages and a wealth of invaluable information that will put you in a position to succeed. You will be part of a young, dynamic and multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

Traineeship of between 3 and 12 months in total. The recruitment process for this position will include an online interview via WebEx.

Essential:

• a bachelor’s degree or higher in economics, finance, econometrics, mathematics, statistics, data science, social sciences or a related field;

• Tags

  capital markets

  career development

  data science

  econometrics

  economic research

  economist

  interest rates

  library

  monetary analysis

  monetary policy

  python

• knowledge of statistical and econometric software such as EViews, R, MATLAB or Stata;
• experience with one or more of the following types of economic data: macroeconomic data, financial market data, firm-level data, accounting/supervisory bank data, other micro data or large datasets (“big dataâ€);
• an advanced knowledge of MS Office, particularly Excel and PowerPoint;
• a sound understanding of the economic issues covered by at least one of the divisions listed above;
• 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 (https://www.coe.int/en/web/common-european-framework-reference-languages/table-1-cefr-3.3-common-reference-levels-global-scale).

Desired:

• a master’s degree or higher in economics, finance, econometrics, mathematics, statistics, data science or a related field, or a completion date for such studies that falls in 2020;
• substantial experience in at least one of the statistical and econometric software packages mentioned above (EViews, R, MATLAB or Stata);
• experience with SQL, Python, Julia and/or Visual Basic for Applications (VBA) for Excel;
• research experience;
• experience of using market data services such as Bloomberg, DataStream and SNL.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

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 and a telephone interview.

Before applying, applicants should check that they meet the conditions set out in Article 4 of the rules governing the traineeship programme:

https://www.ecb.europa.eu/careers/what-we-offer/traineeship/html/index.en.html

Further information on the ECB’s traineeships can be found via the above link.

Applicants are accepted from nationals of the 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.