Experienced Financial Economist

Deadline for applications: 23 July 2025. The ESM is looking for an experienced Financial Economist to join our team of quantitative analysts, econometricians, and financial sector experts in the Financial Sector and Market Analysis division, part of the Chief Economist department at the European Stability Mechanism (ESM). The selected candidates will report to the Head of Financial Sector and Market Analysis division. 

The Financial Sector and Market Analysis division analyses risk developments in the euro area financial sector and investigates macrofinancial interlinkages and policy implications for the euro area and its member states. To this end, the division provides risk analysis on financial sector developments and market activity of bank and non-bank financial institutions, and develops technical advice on regulatory and policy matters related to the euro area financial sector and its member states. The division also follows the market activity of financial institutions and the related indicators to complement its fundamental macroanalyses with the market view. The division is responsible for analysing large datasets including banking, non-banking, and corporate micro data, sectorial statistics, market indicators, interest rates, stock prices, etc., and is a key contributor to the design and implementation of analytical tools for the ESM to achieve its mandate.  

The successful candidate will be part of a team tasked with the enhancement and integration of an existing analytical toolkit to detect risks stemming from the financial sector and assess how economic and policy developments can affect the performance and riskiness of financial institutions and the financial sector of euro area countries. The chosen candidate will have a senior role and will support management in driving the research and analytical agenda of the team.  

KEY ACCOUNTABILITIES 

• Serve as subject matter expert on financial sector risks, financial stability, and macrofinancial linkages. 

• Provide in-depth technical guidance to policy experts to inform the ESM policy response in relevant European and international fora. 

• Contribute to policy design and to the translation of analytical results into policy guidance. 

• Build and apply analytical tools and models that provide insight on economic and financial developments and risks in euro area countries and at the euro area level. 

• Produce high-quality research on topics related to the ESM’s role as a crisis resolution organisation with specific focus on systemic risks and macrofinancial linkages, and related policies. 

• Produce notes and reports to support and document ESM monitoring and analysis of economic and financial developments in the euro area and its member states. 

• Support management in steering the research and analytical activity of the division. 

• Support country teams in assessing specific financial sector vulnerabilities and institutional capabilities to implement reforms, as well as in designing financial sector policies in programme countries or in country-related dry run exercises.  

• Support ESM interactions with economic and research teams of peer organisations in the euro area and globally, in particular with the European Commission, the European Central Bank, and the International Monetary Fund, as well as researchers and analysts in academia and financial market institutions.  

• Support the team in the execution of its risk monitoring processes and in its policy advisory role. 

• Supervise and assure the quality of speaking notes for outreach and policy engagements on the assigned areas of responsibilities. 

KEY BACKGROUND & EXPERIENCE 

• Advanced university degree, preferably in economics, finance, or econometrics.  

• Relevant work experience of at least eight years of practical experience in macrofinancial analysis using statistical software (e.g. R, Stata, Python) is required for a Senior Expert. At least 15 years of relevant experience in the banking industry analysis with a solid background in applied economics, research, statistics, modelling, and econometrics, are required for a Principal . 

• 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. 

• Experience with data providers’ tools (e.g. Bloomberg, Lipper, Dealogic, etc.) and in analysing financial institutions’ performance with public databases (e.g. S&P, Fitch Connect, etc.) would be an asset. 

• Proven ability to transform data into compelling and influential written and oral arguments. 

• Proven ability to draft technical documents and present information professionally and concisely. 

• Proven track record of delivering thoroughly researched, high-quality outcomes. 

• Experience working with cross-functional and international teams would be an asset. 

• An academic publication track record would be an asset. 

• Excellent oral and written English skills (additional languages are an asset). 

KEY COMPETENCIES  

• Analytical and problem-solving skills 

• Resilience, flexibility and adaptability 

• Able to manage multiple tasks and shifting priorities 

• Autonomous, proactive, and results oriented 

• Critical, strategic, and innovative 

• Communication and interpersonal skills 

• Teamwork and collaboration skills 

• Mindful of diversity and inclusion 

PRACTICAL INFORMATION 

• Deadline for application: 23 July 2025 

• Applicable employment grade: Senior Officer / Principal  

• Contract duration: Four years, with possibility of extension  

• 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.