Economist ERA - Chief Economist Department

ESM - European Stability Mechanism

Luxembourg

We are looking for economists to monitor and assess macroeconomic and financial developments as well as risks in euro area countries. The selected candidates will contribute to the development and implementation of analytical tools that detect macro-financial risks. They will also perform policy-relevant research on macroeconomic and financial topics, and report to the Head of Economic Risk Analysis.

The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. To date, the ESM and its predecessor organisation, the European Financial Stability Facility (EFSF), have launched six financial assistance programmes to five countries, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest. Upon ratification of its amended treaty, the ESM will take up its stronger role in financial stability risk analysis and the design of policy measures in programmes jointly with the European Commission; it will provide the Single Resolution Board with a financial backstop to support effective and orderly resolution of banks.

The ESM is a unique place to work with around 230 individuals committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sectors. The ESM’s senior management is committed to preserving and enhancing a diverse, inclusive recruitment and work environment.

KEY ACCOUNTABILITIES

Contribute to the ERA country monitoring framework and analytical agenda by:
- developing and implementing new econometric tools and models, and the necessary support infrastructure;
- refining existing country monitoring tools;
- addressing gaps in the existing analytical toolkit, particularly with regard to the identification and quantification of economic risks.
Contribute to management and maintenance of the existing data assets in the division;
Contribute to the ongoing country monitoring activities;
Conduct quantitative analysis and research on a wide range of macro-critical issues in the euro area;
Build collaborative relationships with colleagues at the ESM to share knowledge and innovate;
Support the division on decisions involving IT capabilities and solutions;
Act as a liaison other data experts at the ESM and if necessary collaborate with internal software development teams.

KEY BACKGROUND & EXPERIENCE

PhD or master’s degree, preferably in economics, finance, or econometrics;
At least two years of relevant work experience are required. For PhD holders, up to two years of relevant research work performed in the context of PhD studies can be considered as relevant work experience;
Modelling skills and experience in machine-learning techniques would be an asset;
Strong knowledge of macroeconomics, including econometric time-series skills;
Some experience in international and European financial institutions is a plus;
An academic publication track record or experience in country monitoring would be an asset;
Excellent oral and written English skills;
Proven knowledge of statistical software, such as Matlab, R and/or Python;
Knowledge of other statistical packages and other programming languages would be considered an advantage.

KEY COMPETENCIES

Analytical and problem-solving skills;
Critical and innovative thinking;
Communication and interpersonal skills;
Resilience, flexibility, and adaptability to change;
Communication and interpersonal skills;
Teamwork and collaboration;
Inclusiveness and respect for diversity.

PRACTICAL INFORMATION

Deadline for application: 7 November 2024;
Employment grade: Officer;
Contract duration: 4 years;
Place of employment: Luxembourg;
Current working arrangements: possibility to work remotely, normally up to two days a week, from Luxembourg and the border region (or from further away under certain conditions).

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.

Note 1: The ESM reserves the right to refrain from hiring, or to slightly modify job responsibilities, as needed.

Note 2: As a result of the selection process, please note that you may be placed on a ‘reserve list’ valid for a duration of six months during which you might be considered for a similar position with a similar level of requirements. Only those candidates who have been notified will be placed on the ‘reserve list’. After this period, you will need to apply again for our vacancies to be considered for a different selection process.