Financial Stability Experts (ESCB/IO) - Stress Test Modelling in Frankfurt am Main bei The European Central Bank

You will be part of the Stress Test Modelling Division in the Directorate General Macroprudential Policy and Financial Stability. Our Division has around 30 members of staff and is responsible for developing and maintaining the ECB models, infrastructure and systems that are used to perform stress test exercises, scenario-based analyses and sensitivity analyses, with a focus on macroprudential stress tests. Our stress testing models are used to analyse the interaction between macroprudential policy, financial stability and monetary policy, the interconnectedness of the euro area financial system, and the implications of climate change and systemic liquidity for financial stability.

You will contribute to the ECB part of the 2025 EU-wide stress test coordinated by the European Banking Authority (EBA), in particular the top-down, model-based part of the quality assurance process and related model-based macroprudential analyses and impact assessments. You will join one of the teams focusing on the modelling and quality assurance of credit risk or market risk submissions of banks or the team focusing on the system-wide analysis of banks’ submissions using a variety of analytical tools.

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.

As a Financial Stability Expert contributing to the 2025 EBA stress test, you will:

• run top-down stress testing tools and conduct quantitative sensitivity analyses;
• critically review bottom-up stress test results produced by banks by comparing them with top-down stress test results and contribute to top-down analyses of the results;
• run dynamic, macro/micro stress test models to provide a macroprudential perspective to the 2025 EU-wide stress test;
• contribute to developing new and refining existing impact assessment tools, including credit risk models, market and liquidity risk models, contagion models of linkages between the financial and non-financial sectors, and macro stress testing tools;
• liaise with other stakeholders in the process, notably ECB Banking Supervision, national competent authorities and the EBA.

These positions offer you a unique opportunity to contribute to European financial stability and to learn from some of the best experts in the field of stress testing and macroprudential impact assessments.

You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

Essential:

• a master’s degree or equivalent in economics, finance, statistics, mathematics, engineering, business administration, physics, computer science or a related field (see How you can join us for details on degree equivalences);
• in addition to the above, a minimum of three years’ professional experience in financial stability and macroprudential policy analysis;
• experience in stress testing, preferably in the development and/or implementation of top-down models;
• a working knowledge of one or more programming languages or statistical or econometric software packages (such as Stata, Python, Dynare, R, SQL and/or MATLAB);
• 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 anti