Senior Supervisors in DG-OMI – Internal Model Investigations (ESCB/IO) Job at The European Central Bank – in Frankfurt am Main

Job Description

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 30.04.2022

Who can apply? EU nationals working for the international public sector organisation or EU organisations performing central banking or banking supervision tasks. Your current contract must extend at least 1 year beyond the end of the potential employment at the ECB

Salary F/G (2) (minimum full time monthly net salary €5,451 and benefits, see further information section)

Role specialisation On-Site Inspection

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 26.05.2021

Your team

You will be part of the Directorate General On-Site and Internal Model Inspections. The Directorate General leads and participates in on-site activities, mainly at banks classified as significant institutions. It facilitates the planning and execution of the on-site supervisory programme. It develops and maintains comprehensive on-site methodologies for inspections, internal model investigations and asset quality reviews, ensures harmonised on-site approaches for the SSM and contributes to the identification of risks and supervisory priorities, ensuring the consistency of the assessment results across the SSM. The Directorate General is integrated with the ongoing supervision and horizontal activities, providing independent, consistent and complementary high-quality assessments.

In your role as Senior Supervisor, you will be part of the Internal Model Investigations Division, which ensures the consistency of supervisory approaches and the uniform implementation of internal models used by credit institutions supervised by the SSM. We are currently working on high-impact projects such as the implementation of the new definition of default, the fundamental review of the trading book and the assessment of models of banks affected by Brexit. The Division is composed of two sections focusing on credit risk models and one focusing on market risk and counterparty credit risk models. We are currently seeking candidates for all risk types.

The Single Supervisory Mechanism (SSM) is the system of banking supervision in Europe. It comprises the ECB and the national supervisory authorities of the participating countries.

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 Senior Supervisor you will:
ensure overall consistency in the supervisory approaches applied to credit institutions’ internal models;

participate in on-site and off-site internal model investigations to assess compliance with internal model rules, gain insight into different practices and ensure that common supervisory practices are adopted;

develop supervisory standards and methodologies to be used for supervision of internal models;

organise projects and participate in (international) working groups, and for this purpose establish and maintain regular contact with strategic partners and counterparts at other supervisory authorities and institutions.

This position offers you excellent opportunities to work as an on-site inspector, analyse topical issues relating to prudential supervision, gain insight into the practices of major credit institutions and discuss the results of your analysis both internally and with the supervised institution. You will also strengthen your project management skills, dealing with key supervisory processes in a multi-stakeholder environment, and will have the opportunity to further develop your ability to think analytically and challenge constructively, with a focus on results, teamwork, cooperation and communication.

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

a master’s degree or equivalent in econometrics, mathematical engineering, mathematics, computer science, statistics, economics, finance, business administration or another relevant field (click here for details on degree equivalences);

in addition to the above, a minimum of five years’ experience in the field of internal model supervision or the development of internal models, and ideally at least two years in on-site inspections or comparable activities (e.g. internal audit, model validation);

the ability to assess a bank’s internal models through their lifecycle (i.e. initial authorisation, ongoing model monitoring and model changes), analysing the adequacy and adaptability of the model, also with respect to business processes, performance and IT infrastructure, through knowledge and application of regulatory frameworks (e.g. the Capital Requirements Regulation) and relevant techniques;

the ability to evaluate subject matter and provide independent and objective assurance, check compliance with the requirements of a specific field, and recommend improvements to risk, control or compliance procedures, through knowledge of audit or inspection processes and frameworks, performance standards or requirements, and application of methods, techniques and tools for assurance;

the ability to identify, measure, assess and report on financial risk exposures stemming from an institution’s balance sheet, its investment activities, and interactions with portfolios and operations, through knowledge of the cycle, principles and frameworks for financial risk management, as well as the different types of financial risk;

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.

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 skilled at encouraging people to develop their abilities and are able to build up high-performing teams.

You are motivated to be part of our team and to develop and use your skills and competencies to achieve the objectives of this position.

Working modalities

Working for European banking supervision in the Directorate General On-Site and Internal Model Inspections involves spending short periods of time abroad for training. Participating in on-site inspections or on-site internal model investigations may require longer periods of travel abroad. This important part of our work is complemented by an environment in which well-being and a good work-life balance are fostered.

Playing a role in European banking supervision also entails collaborating in multinational and multicultural teams and operating in the context of different national frameworks, for which a strong ability to use different EU languages for business purposes is an asset.

We are willing to discuss part-time arrangements.

Further information

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.

For additional information on this specific vacancy, you can speak to the hiring manager, Jan Kroot, on +49 (0)1726838980 between 12:00 and 13:000 on Wednesday, 12 May 2021, or between 12:00 and 13:00 on Friday, 14 May 2021.

Application and selection process

For further information on how to join us, read more.

The recruitment process for this position may include a pre-recorded video interview in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – a presentation and interview.

About Company

Company: The European Central Bank –

Company Location:  Frankfurt am Main

About The European Central Bank -