The European Central Bank has launched:  Traineeship in Market Operations 

General Information

Type of contract: Traineeship

Who can apply?: EU nationals eligible for our traineeship programme

Grant: The trainee grant is €1,170 per month plus an accommodation allowance (see further information section)

Working time: Full time

Place of work: Frankfurt am Main, Germany

Closing date: 29.04.2025

Your team

You will be part of the Directorate General Market Operations. Our Directorate General has around 180 staff responsible for preparing the monetary policy and foreign exchange operations of the Eurosystem. We develop and maintain the Eurosystem monetary policy implementation framework and contribute to related policy proposals. We also manage the ECB’s foreign reserves and own funds portfolios and analyse financial market developments. We work closely with other ECB business areas, the national central banks of EU Member States and other authorities, and we maintain regular contact with financial market participants.

In your role as a Market Operations trainee, you will contribute to the operational and analytical tasks of your division, working closely with experts on a diverse range of monetary policy implementation activities. You will develop your teamwork skills and gain hands-on experience of financial markets, delivering insights, findings, reports, presentations and other analyses to colleagues in your division, senior management, and Eurosystem committees and working groups.

The Market Operations traineeship is aimed primarily at graduates with an interest in financial data analysis, financial markets and/or monetary policy implementation.

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 trainee in the Directorate General Market Operations you will:

• collect, manage and integrate data from different sources as part of one of our data management teams;
• innovate business processes by leveraging automation, new technologies, data analytics and visualisation tools, in collaboration with other ECB business areas;
• analyse financial market developments using granular data and compile regular reports, for example on developments in the government bond, foreign exchange and money markets;
• produce analyses and summaries of meetings with external counterparties and on the activities of market contact groups;
• monitor the performance of the Eurosystem monetary policy implementation framework, changes in Eurosystem balance sheet items, and bidding behaviour in standard refinancing operations;
• test software and configure financial instruments in the treasury management system and support users to ensure that Eurosystem operations are processed smoothly;
• help assess the financial eligibility of monetary policy counterparties and enhance the Eurosystem collateral framework from a policy, operational and technical standpoint;
• perform reconciliation activities.

The position offers you excellent opportunities to dive deep into data, experience a dynamic operational environment and contribute to a larger mission. You will also have extensive exposure to financial markets and monetary policy implementation. Throughout your traineeship you will learn and contribute to the goals of your team while collaborating with more senior colleagues.

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:

• a bachelor’s degree or higher in finance, economics, econometrics, mathematics, statistics, computer science or a related field;
• a sound understanding of financial markets, including ECB or Eurosystem operations;
• experience using one or more of the following: SQL, Python, R, Java, MATLAB, Stata, Tableau, MS Power BI, VBA, Bloomberg or Refinitiv Eikon/LSEG Workspace;
• experience preparing, analysing and visualising complex data, such as financial market data, transaction-level data, micro data, high-frequency data or survey data;
• a good knowledge of the MS Office package, including an advanced knowledge of MS Excel;
• 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: https://www.coe.int/en/web/common-european-framework-reference-languages...

Desired:

• a master’s degree in finance, economics, econometrics, mathematics, statistics, accounting, computer science or a related field;
• a solid background in econometrics, statistics, data science or machine learning techniques.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

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 keen to be part of our team and to use your skills and competencies to achieve the aims of this position.

Further information

Initial traineeship of six months, with a possible extension to up to 12 months in total, starting in August 2025 or later.

Other details on the conditions applicable to traineeships at the ECB can be found on our website: https://www.ecb.europa.eu/careers/what-we-offer/traineeship/html/index.e...

For additional information on this specific vacancy, you can contact Fabian Gieseck (fabian.gieseck@ecb.europa.eu) or Niels Krieghoff (niels.krieghoff@ecb.europa.eu).

Application and selection process

The recruitment process for this position will include an online interview.

Further information on how to apply is available on our website: https://www.ecb.europa.eu/careers/before-you-apply/how-to-apply/html/ind...

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for other traineeship positions within the ECB.

 

The European Central Bank has launched: Traineeship in the Fiscal Policies Division

General Information

Type of contract: Traineeship

Who can apply?: EU nationals eligible for our traineeship programme

Grant: The trainee grant is €1,170 per month plus an accommodation allowance (see further information section)

Working time: Full time

Place of work: Frankfurt am Main, Germany

Closing date: 29.04.2025

Your team

You will be part of the Fiscal Policies Division in the Directorate General Economics. Our Division has 25 members of staff responsible for assessing the national fiscal policies of EU Member States and the euro area’s fiscal stance. We provide fiscal forecasts and public debt sustainability analysis, and perform analytical work on a variety of related topics, including the interaction between fiscal and monetary policy. We are also responsible for analysing issues related to the reform of the architecture of Economic and Monetary Union, particularly in relation to the EU’s fiscal framework. We collaborate closely with several other divisions in the Directorate General Economics as well as with national central banks in the Eurosystem.

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 trainee you will:

• support research analysts and economists in our Division, contributing to both short-term tasks and long-term projects;
• help maintain and develop the Division’s databases for monitoring fiscal developments and related macroeconomic and financial market indicators;
• contribute to the enhancement of the Division’s forecasting, modelling and other analytical tools;
• support the preparation of the Division’s regular internal and external products, including its contributions to the ECB’s Economic Bulletin, for instance by producing tables, charts, presentations and
• other analytical input in collaboration with other ECB business areas;
• contribute to the Division’s research projects by conducting empirical analysis and macroeconomic modelling.

The position offers you excellent opportunities to enhance your quantitative skills, be involved in analytical tasks and work closely with experienced economists. It also provides a unique opportunity to gain insight into analysis and policy issues within a central bank. 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:

• a bachelor’s degree or higher in economics, finance, mathematics, statistics, data science, computer science, engineering or a related field;
• experience with statistical, econometric and data science packages and programming languages (e.g. MATLAB, Python, R, Stata, Julia or EViews);
• experience of processing and analysing fiscal, macroeconomic or financial market data, and programming automated data tasks;
• a good knowledge of the MS Office package;
• 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: https://www.coe.int/en/web/common-european-framework-reference-languages...

Desired:

• a master’s degree or higher in economics, finance, mathematics, statistics, data science, computer science, engineering or a related field, or master’s degree studies in these subjects that are in the
• final stages of completion;
• strong programming skills in one or more programming languages (e.g. MATLAB, Python, R, Stata, Julia or EViews);
• initial experience in applying machine learning algorithms or using AI tools for analytical purposes, with a strong interest in developing further expertise in this area.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

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 keen to be part of our team and to use your skills and competencies to achieve the aims of this position.

Further information

Initial traineeship of 6 months, with a possible extension to up to 12 months in total.

Other details on the conditions applicable to traineeships at the ECB can be found on our website: https://www.ecb.europa.eu/careers/what-we-offer/traineeship/html/index.e...

Application and selection process

The recruitment process for this position will include an online interview.

Further information on how to apply is available on our website: https://www.ecb.europa.eu/careers/before-you-apply/how-to-apply/html/ind...

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for other traineeship positions within the ECB.

 

Traineeship in the Stress Test Modelling Division or the Systemic Risk and Financial Institution

General Information

Type of contract: Traineeship

Who can apply?: EU nationals eligible for our traineeship programme

Grant: The trainee grant is €1,170 per month plus an accommodation allowance (see further information section)

Working time: Full time

Place of work: Frankfurt am Main, Germany

Closing date: 02.05.2025

Your team

You will be part of either the Stress Test Modelling Division or the Systemic Risk and Financial Institutions Division in the Directorate General Macroprudential Policy and Financial Stability. Our Divisions have around 50 members of staff in total. We are responsible for identifying and assessing the main risks to financial stability in the euro area with a focus on the banking system and its interactions with the real economy and broader financial system.

We are also responsible for monitoring potential sources of systemic risk in the euro area and developing and maintaining state-of-the-art models that support stress test activities. We use econometric methods to assess the drivers of financial stability risks in the banking sector and the broader financial system, and we analyse the interaction between macroprudential policy, financial stability and monetary policy.

In your role as trainee, you will be part of one of these Divisions, focusing on policy relevant analysis and model development. The precise nature of the traineeship will depend on your skill set and the team that you join.

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 trainee, you will:

• contribute to analyses for internal discussions related to key policy processes and external publications such as the Financial Stability Review;
• contribute to research on topics of interest to the Directorate General;
• help to prepare presentations, figures and charts for management and senior management;
• participate in analytical projects on topics of interest to the Directorate General by collecting data and helping with research, including code development;
• maintain, update and further develop databases for stress tests, systemic risk identification, macro-financial policy analysis, and financial and real sector developments;
• develop user visualisation tools and programs/code for efficient data processing, while facilitating user access to complex datasets;
• work with colleagues across the ECB to maintain and improve the IT systems used for stress testing.

The position offers you excellent opportunities to become more familiar with macroprudential policy and financial stability by working alongside experts on a variety of tasks and projects. You will be able to develop networking skills and business knowledge. You will also be able to attend a wide range of seminars and access the ECB’s computing, programming, statistical and library resources. 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:

• a bachelor’s degree or higher in economics, finance, statistics, data science, mathematics, engineering, business administration, physics, computer science or a related field;
• a sound understanding of and practical experience with one or more programming languages and econometric software packages (e.g. Python, R, MATLAB, Stata or SQL);
• a sound knowledge of statistical and econometric methods and the ability to present data and results;
• experience in data management, data handling and analysis of multidimensional datasets;
• a good knowledge of the MS Office package, particularly Excel;
• 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: https://www.coe.int/en/web/common-european-framework-reference-languages...

Desired:

• a master’s degree (or master’s degree studies in their final stages of completion) in economics, finance, statistics, data science, mathematics, engineering, business administration, physics, computer science or a related field;
• experience with econometric techniques in one or more of the following areas: macroeconometrics, microeconometrics, time series analysis, panel data econometrics, financial econometrics and empirical banking;
• experience with state-of-the-art modelling tools (e.g. DSGE models, network analysis and mathematical optimisation models); 
• a sound understanding of financial statement analysis (e.g. balance sheets of banks and other financial institutions) or derivative pricing;
• experience with macroeconomic, financial, banking, corporate or climate-related statistics at the sector or micro-level, including familiarity with standard databases (e.g. Refinitiv Eikon, Bloomberg, BankFocus and Haver Analytics) or big data.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

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 keen to be part of our team and to use your skills and competencies to achieve the aims of this position.

Further information

Initial traineeship of between 3 and 6 months, with a possible extension to up to 12 months in total.

Other details on the conditions applicable to traineeships at the ECB can be found on our website: https://www.ecb.europa.eu/careers/what-we-offer/traineeship/html/index.e...

Application and selection process

The recruitment process for this position will include a remote written exercise in the pre-selection phase and – if you are invited to participate in the subsequent selection phase – an online interview.

Further information on how to apply is available on our website: https://www.ecb.europa.eu/careers/before-you-apply/how-to-apply/html/ind...

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for other traineeship positions within the ECB.