Advisers - Compliance

Location
Frankfurt, Germany
Salary
I band and benefits
Posted
13 Feb 2019
Closes
11 Mar 2019
Ref
2019-028-EXT
Contract Type
Contract, Permanent
Hours
Full Time
Travel
0-25% Travel, None

Advisers (On-site inspections and supervisory stress testing)

Type of contract:  Fixed-term contract which may be converted into a permanent contract after five years subject to individual performance and organisational needs.
Who can apply:  EU nationals
Working time:  Full-time 
Place of work:  Frankfurt, Germany 
Closing date for applications:  Monday, 11 March 2019 

Your team

You will join the Directorate General Microprudential Supervision IV and your role at the ECB will be split between two areas. Every two years, you will spend about six months working exclusively on the EU-wide stress test exercise, established by the European Banking Authority (EBA), and leading a stress testing team as part of the Single Supervisory Mechanism (SSM), the system of banking supervision in Europe comprising the ECB and the national supervisory authorities of the participating countries. At times you will also spend about six months working on the ECB’s annual supervisory stress test exercise that focuses on a narrower scope of risks, for example on interest rate risk in the 2017 exercise or on liquidity risk in 2019. You will contribute to these exercises within your field of experience, e.g. credit risk, market risk, operational risk and or/ IT/Cyber/Infrastructure risk.

The remainder of your time will be spent as a member of one of the three divisions in the Directorate General Microprudential Supervision IV: the Centralised On-site Inspections Division, the Internal Models Division or the SSM Risk Analysis Division. 

The Centralised On-site Inspections Division organises, monitors and coordinates all on-site inspection activities relating to significant banks in the euro area, leads on-site inspections, maintains the on-site inspection methodologies, organises training activities related to these methodologies and ensures the quality assurance of the inspection reports. We work together with the Joint Supervisory Teams (JSTs) to develop best practices for on-site inspections.

The Internal Models Division ensures the consistency of supervisory approaches and the uniform interpretation of internal models used by credit institutions. We develop methodologies and guidance for reviewing models and ensure their consistent application via the monitoring and performance of on-site model investigations and conduct regular analyses of findings to guide JSTs in order to identify the weaknesses of internal models.

The SSM Risk Analysis Division monitors changes in the overall risk environment for banks in the euro area by conducting in-depth risk analyses of all relevant risk categories, raising issues as necessary and supporting the JSTs in their supervisory activities within the context of the SSM. We identify trends, developments and emerging risks affecting multiple banks on a timely basis for further supervisory review. We conduct regular peer reviews of credit institutions’ performance and risk profiles, including horizontal analyses of individual credit institutions’ exposure to a certain type of risk or event. We are also in charge of the implementation of stress tests in close collaboration with other stakeholders within the ECB and NCAs. 

The positions offer excellent opportunities to contribute to the harmonisation of supervisory standards and to the soundness and stability of the European banking system. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

To further enhance the diversity of our team, we particularly encourage applications from female candidates.

Your role

During the times when you are participating in the stress test exercises, you will either lead a team of risk experts or lead the project management team.

If you lead a team of risk experts, you will:

  • coordinate a team of highly qualified staff and act as a reference point and mentor for the team; 
  • coordinate quality assurance work and ensure consistency and compliance with the stress test methodology;
  • coordinate horizontal analyses of stress test results and quality assurance findings, including the identification of their key drivers;
  • coordinate the provision of technical and analytical input in the relevant area of competence;
  • present and defend your views in discussions with colleagues and decision-making bodies;
  • support decision-making by the responsible governing bodies.


If you lead a project management team, you will:

  • coordinate a team of highly qualified staff and act as a reference point and mentor for the team; 
  • steer the overall stress test process and keep track of its progress to ensure timely deliveries;
  • coordinate the exchange of information and reporting to governing bodies;
  • facilitate central communication with the banks participating in the exercise;
  • liaise with other stakeholders in the process, notably within the ECB, national competent authorities and the EBA;​
  • present subsequent steps in the stress test process and respond to questions in front of large audiences.

In the times when you are not working with the stress testing team, you will be working in one of the three divisions as described above and you will: 

  • establish and maintain a high level of expertise in your field of responsibility in order to act as an opinion leader and guide colleagues, enabling them to perform the supervisory activities required by their roles;
  • coordinate staff assigned to you and address matters such as performance, output and longer-term direction;
  • represent your division and the ECB at meetings, on a number of internal and external committees and in other high-level fora, as well as establish and maintain regular contact with all strategic partners and counterparts at supervisory authorities and other institutions and bodies;
  • prepare and/or coordinate the preparation of briefings, notes, memoranda, external publications and dossiers to support senior management, the Chair and the Vice-Chair of the Supervisory Board and the ECB’s decision-making bodies.


In addition

if you are assigned to the Centralised On-site Inspections division you will:

  • act as Head of Mission for on-site inspections including working for several months on the premises of the supervised entity;
  • coordinate on-site inspection campaigns or any projects relating to SSM on-site activities;
  • provide advice and draft methodologies or notes to decision-making bodies in the field of on-site inspections or risk analysis/assessment and supervisory tools (including stress testing) to support your Head of Division and the management of the Directorate General in the design and implementation of strategic objectives.

Please note that due to the on-site activities mentioned in this description your role will include frequent travel (see “working modalities” below).

if you are assigned to the Internal Models Division you will:

  • act as Head of Mission for on-site internal models investigations including working for several months on the premises of the supervised entity;
  • provide advice in the field of internal models inspections and supervisory tools to support your Head of Division and the management of the Directorate General in the design and implementation of strategic objectives;
  • coordinate internal model campaigns or any projects relating to SSM on-site activities with relevance for internal models.

Please note that due to the on-site activities mentioned in this description your role will include frequent travel (see “working modalities” below).

if you are assigned to the SSM Risk Analysis Division you will:

  • provide advice in the field of risk analysis/assessment and supervisory tools (including stress
    testing and also work on other tasks assigned to the Division as they arise;
  • contribute in a coordinating role to the development or further enhancement of stress testing methodologies in close cooperation with the EBA and national competent authorities.

Qualifications, experience and skills

Essential:

  • a master’s degree or equivalent in economics, finance, business administration, law, accounting, statistics, econometrics, mathematics, physics, engineering or another relevant field (for details on degree equivalences);
  • in addition to the above, a minimum of eight years’ professional experience in the field of banking supervision, financial stability or financial services (including consulting, auditing or other advisory services in a supervisory or regulatory context);
  • experience and participation in stress testing exercises;
  • at least three years’ experience successfully coordinating projects and/or teams of highly qualified staff;
  • sound knowledge of on-site inspections or risk modelling, in particular credit or market risk and/or risk related to net interest income;
  • an advanced level command of English and an intermediate command of at least one other official language of the EU.


Additional requirements in the Centralised On-site Inspections Division are:

  • professional experience in planning, coordinating, monitoring or leading on-site inspections or audits;
  • professional experience in the development of on-site methodologies and in organising training activities on on-site or audit methodologies.


Additional requirements in the Internal Models Division are:

  • professional experience in and/or knowledge of building and reviewing internal models;
  • professional experience in assessing and revising internal model-related technical documentation or data;
  • sound knowledge of regulatory requirements related to the implementation of internal models.


Additional requirements in the SSM Risk Analysis Division are:

  • proven expertise in either planning and coordinating or designing and implementing stress tests at a supervisory authority, commercial bank, consultancy firm or international public entity;
  • a strong knowledge of risk assessment methodologies/tools (including stress testing);
  • sound knowledge of prudential regulation as well as of the functioning of financial institutions.


Desired:

  • experience at a comparable international public sector organisation or private sector company in the field of financial services;
  • programming skills and experience in working with statistical software (in particular SAS) or VBA;
  • an advanced command of further official languages of the EU.


You engage collaboratively with others. You pursue team goals and can draw on the strengths of a diverse team to get the best results. You support the efforts of team members to develop their abilities and are able to build up high-performing teams. You facilitate change and can articulate strategic priorities and scenarios for your team.

 

For more information on how to apply, please click the ‘Apply’ button.

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