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: 31.12.2026
• 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 1 - step 1) full time monthly net salary: €7,296 plus benefits, for further information see
• Working time: Full time
• Place of work: Frankfurt am Main, Germany
• Closing date: 22.10.2025

Your team

You will be part of the Market-based Finance Division in the Directorate General Macroprudential Policy and Financial Stability. Our Division has around 20 people responsible for assessing and mitigating financial stability risks emanating from financial markets and from the activities and behaviours of non-bank financial intermediaries; coordinating and conducting the Directorate General’s market intelligence activities; understanding the interactions between market-based finance, monetary policy and financial stability; and helping to strengthen the macroprudential approach to non-banks and markets.

In your role as Financial Stability Expert, you will be responsible for analysing and assessing risks arising from financial markets and conduct topical deep dives into those markets. You will occasionally be expected to make presentations to decision-making bodies.

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 Financial Stability Expert you will:

• help to identify and assess financial stability risks arising from financial markets;
• conduct deep-dive analysis on topics related to financial markets, capital market financing, etc.;
• deliver high-quality economic policy work for decision-making bodies, including the Eurosystem’s Financial Stability Committee and the ESRB;
• contribute to the production of the ECB’s Financial Stability Review;
• join market intelligence discussions connecting market intelligence with the wider risk assessment and policy work;
• participate in international working groups and committees working on systemic risks and macroprudential policies beyond the banking sector, both at European level and under the Financial Stability Board’s substructures;
• help to uphold the collaborative working atmosphere, commitment and team spirit in the Division.

The position offers you excellent opportunities to formulate the ECB’s assessment on emerging risks and vulnerabilities in the euro area financial system and engage with decision-making bodies. 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 three years’ relevant professional experience (other than as a trainee or intern) providing analysis and/or policy advice in at least one of the following areas: financial markets, financial stability, macroprudential policy, monetary policy or finance;
• experience in preparing analytical reports and policy documents drawing on a range of different sources;
• working knowledge of statistical and econometric software packages such as MATLAB, R, Stata, Python or EViews;
• very good communication skills, including strong presentation and drafting 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.

Desired:

• a sound knowledge of models, empirical methods and datasets that can be applied to the analysis of financial markets;
• experience participating in international committees/working groups at regional or global level.

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 contract offered will be short-term ESCB/IO, the appointment being until 31 December 2026, extendable to up to 36 months in total.

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 this specific vacancy, please contact the hiring manager, Julija Jakovicka (julija.jakovicka@ecb.europa.eu).

Application and selection process

The recruitment process for this position will be conducted remotely. It will include 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.