The ECB is hiring two Financial Stability Experts to shape macroprudential policy in Frankfurt. Open exclusively to staff from ESCB Central Banks and International Organizations. Apply by 15 Feb 2026.
Job Title: Financial Stability Experts (ESCB/IO) – Macroprudential Policy
| Organization | European Central Bank (ECB) |
| Department | Directorate General Macroprudential Policy and Financial Stability |
| Location | Frankfurt am Main, Germany |
| Contract Type | Short-term ESCB/IO (24 months, extendable to 36) |
| Application Deadline | 15 February 2026 |
Position Overview
The European Central Bank (ECB) is seeking to appoint two Financial Stability Experts to the Macroprudential Policy Division. This team is responsible for providing high-level analysis and policy advice on the European macroprudential framework, risk assessment, and financial regulation.
You will join a team of 30 professionals dedicated to analyzing policy implementation and performing innovative quantitative work. This role involves close collaboration with national macroprudential authorities, the European Systemic Risk Board (ESRB), and European banking supervision.
Eligibility Notice: This vacancy is open exclusively to EU nationals currently employed by:
- National Central Banks of the ESCB;
- International Governmental Organizations (IOs); or
- Institutions performing central banking or banking supervision tasks within the Eurosystem.
Key Responsibilities
Policy Analysis & Calibration
- Analyze the appropriateness of the macroprudential policy stance at the country level.
- Suggest the optimal choice and calibration of existing macroprudential instruments.
- Assess the need for changes in the macroprudential toolkit and propose novel policy solutions.
Quantitative Assessment
- Conduct rigorous quantitative analyses, including ex-ante impact assessments of various policy options.
- Perform innovative analytical work related to the Division’s strategic interests using advanced statistical software.
Strategic Coordination & Representation
- Coordinate and contribute to high-level briefings, notes, speeches, and reports for ECB decision-making bodies and Eurosystem working groups.
- Develop and maintain networks with counterparts at national central banks, the European Commission, and the IMF.
- Represent the Division during country visits and at international workshops.
Candidate Profile
We are looking for analytical professionals capable of evaluating complex information to arrive at practical policy solutions.
Essential Qualifications
- Education: Master’s degree in economics, finance, or a related field.
- Experience: Minimum of four (4) years of professional experience in financial stability and macroprudential policy analysis.
- Technical Skills: Proven ability to conduct quantitative analysis using Stata, MATLAB, Python, or R.
- Framework Knowledge: Sound understanding of the European macroprudential policy framework.
- Communication: Advanced (C1) command of English with the ability to present analysis clearly for reports and policy discussions. Intermediate (B1) command of another official EU language is required.
Desirable Assets
- A PhD in economics or finance.
Contract & Benefits
- Contract: Short-term ESCB/IO contract for an initial period of 24 months, extendable up to 36 months.
- Candidates must have a contract with their home institution for at least one year beyond the duration of the ECB contract.
- Salary: Salary Band F/G. Full-time monthly net salary of €7,465 plus benefits.
- Work Mode: Full-time, with part-time arrangements possible.
How to Apply
To be considered for this position, please submit your application through the ECB careers portal. The selection process will include a presentation and an interview.
The ECB is an inclusive employer. We encourage applications from all qualified candidates irrespective of age, disability, ethnicity, gender, or religious beliefs.