Financial Markets Expert (ESCB/IO) - Liquidity and Investments

Fin. Markets & Market Infrastructure Ops

Market Operations

11781

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 14.07.2026

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 what we offer.

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 24.04.2025

Your team You will be part of the International Markets Section of the Liquidity and Investments Division in the Directorate General Market Operations. The Division consists of around 45 people and is responsible for implementing monetary policy, managing the ECB’s foreign reserves and conducting foreign exchange operations. It also monitors, reports on and analyses financial market developments.

The International Markets Section is a diverse team of around 17 highly motivated professionals. It is responsible for coordinating the management of the ECB’s foreign reserves in US dollar (USD), Japanese yen (JPY), Chinese renminbi (CNY) and gold to ensure there are sufficient safe and liquid resources for foreign exchange interventions. The Section also coordinates and implements possible foreign exchange interventions, sets the euro foreign exchange reference rates and manages the provision of euro liquidity to foreign central banks. In addition, the Section monitors, analyses and reports on developments in the foreign exchange, equity, commodity and bond markets.

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 Markets Expert you will:

1. contribute to the coordination and management of the ECB’s foreign reserves, including proposing and implementing changes to the tactical benchmark for USD, JPY or CNY portfolios;
2. contribute to policy notes and briefings for Committees and Working Groups of the European System of Central Banks, as well as for the ECB’s decision-making bodies and senior management;
3. continuously monitor and report on international financial market developments, with a focus on the USD, JPY and CNY markets, including establishing and maintaining contact with counterparties;
4. analyse relevant market trends and their implications for the management of the ECB’s foreign reserves.

The position offers you excellent opportunities to work alongside highly motivated colleagues with a finger on the pulse of global financial markets. 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:

1. a master’s degree or equivalent in economics, finance, business administration or another relevant field (see How you can join us for details on degree equivalences);
2. in addition to the above, a minimum of three years’ experience in managing foreign reserves or in monitoring and analysing financial markets, ideally with a focus on USD, JPY or CNY fixed income markets;
3. sound knowledge of Microsoft Office (e.g. Word, Excel, PowerPoint) and market information systems (e.g. Bloomberg, Reuters);
4. thorough understanding of asset management, the financial markets and financial system;
5. proven experience in preparing and drafting policy notes and briefings on financial market developments, as well as presenting findings to decision-makers;
6. a proven ability to (i) collaborate in and across teams, (ii) communicate complex issues clearly, (iii) analyse and synthesise information from multiple sources to make recommendations to senior stakeholders, (iv) work independently and adapt to changing needs, (v) pay attention to detail, and (vi) deliver high-quality results within tight deadlines;
7. 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:

1. experience with fixed income and money market instruments;
2. knowledge of portfolio management systems (e.g. Tradeweb, Wallstreet Suite);
3. ability to analyse policy and market functioning issues within the broader context of financial markets and financial systems;
4. thorough analytical skills, experience in data analysis and quantitative techniques (e.g. statistical and econometric techniques) and the ability to present the results of analytical work;
5. a formal qualification in financial analysis and markets, such as the CFA Charter or the ICMA International Fixed Income and Derivatives Certificate/Diploma in Securities and Derivatives.

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 contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe.

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 To enable the Section to maintain its business continuity capability, you will occasionally be expected to perform work during non-standard working hours and work at the ECB’s standby sites.

We would be happy to discuss a part-time arrangement for this role.

Further information The formal title for this position will be Market Operations Expert.

The contract(s) 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 this specific vacancy, you can contact the hiring manager, Lieven Hermans, at lieven.hermans@ecb.europa.eu, or the Head of the Liquidity and Investments Division, Emily Witt, at emily.witt@ecb.europa.eu.

Application and selection process The recruitment process for this position 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.