Traineeships (PhD) in Directorate General International and European Relations

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1 Traineeships (PhD) in Directorate General International and European Relations Reference TRA EXT Type of contract Who can apply Salary Working time Place of work Closing date for applications Traineeship of between 3 and 12 months in total EU nationals eligible for our traineeship programme ( The trainee grant is 1,050 per month plus an accommodation allowance. Full-time Frankfurt am Main, Germany 12 April 2016 Your team The selection committee may place suitable candidates on a reserve list, from which candidates may be appointed to similar positions in the same or another business area. It may also be decided to fill the position(s) advertised in this vacancy notice with a suitable candidate or candidates from the reserve list resulting from a recruitment procedure for a similar position. Candidates will be informed accordingly if this happens. In addition to the standard online application, candidates are encouraged to submit ideas or a short proposal for a project (maximum 1 page), as well as abstracts of completed working papers or published articles. These documents should be uploaded as a single.doc or.pdf file. Your role The Directorate General International and European Relations (DG/I) of the European Central Bank (ECB) is seeking applications from PhD students (who have successfully completed at least two calendar years of their PhD studies) for its traineeship programme. DG/I prepares policy positions on international and European issues, excluding positions on the macroeconomic policies of the euro area or European Union (EU) countries, for the ECB, the Eurosystem and/or the European System of Central Banks (ESCB). The Directorate General comprises four divisions: (i) the EU Institutions and Fora Division; (ii) the External Developments Division; (iii) the International Policy Analysis Division; and (iv) the International Relations and Cooperation Division. The EU Institutions and Fora Division (EIF) prepares policy positions and briefings relating to the non-macroeconomic internal and external policies, as well as institutional issues, of the EU, including those that are discussed at meetings of the EU bodies in which the ECB participates. It also prepares policy positions and briefings on issues relating to the activities of relevant EU institutions and bodies (e.g. the European Parliament, the European Commission, the European Council and the European Investment Bank). The Division acts as primary contact for European institutions and fora and coordinates the discharging of the ECB's accountability obligations. It also handles contacts with

2 national parliaments when the need arises on European issues. Its competencies also include work related to the further development of EMU economic governance and banking union. The External Developments Division (EXT) monitors and analyses economic conditions in non-eu countries and the global cyclical situation. The Division prepares macroeconomic projections for non-eu countries and the global economy, coordinates the international part of the ECB/Eurosystem staff projection exercise and conducts simulation and scenario analysis relating to the international environment. It also prepares studies, briefings and reports in its area of competence that support the decision-making bodies of the ECB and serve as inputs for the European Systemic Risk Board (ESRB), the Single Supervisory Mechanism (SSM) and the ECB s financial stability reports, as well as for documents used by Executive Board members and senior managers when they attend international and European meetings. Finally, the Division acts as primary contact for central banks and other institutions in non-eu countries. The International Policy Analysis Division (IPA) prepares policy positions, briefings and policy relevant research on (i) global economic and financial issues of systemic relevance, e.g. global imbalances and exchange rates; (ii) global trade, competitiveness issues and commodities; and (iii) global capital markets and financial stability, global spillovers and linkages. The Division also examines international monetary and financial issues, including the international role of the euro and the dollar and the implications of different monetary and exchange rate policies and regimes. It also covers issues under its responsibility related to activities of the G7, G20 and the Bank for International Settlements. Furthermore, it prepares input for the projection exercise regarding commodity prices, exchange rate developments and risks stemming from global issues of systemic relevance, including global risks to financial stability. The International Relations and Cooperation Division (IRC) prepares policy positions, analyses and briefings on issues related to the International Monetary Fund (IMF) and other international and regional financial institutions. It provides the Secretariat for the International Relations Committee of the European System of Central Banks (ESCB) and coordinates briefings and meeting preparations for the institutions and fora that fall under its core responsibilities. The Division coordinates technical cooperation with non-eu central banks within the ECB, the Eurosystem and the ESCB, and maintains high-level dialogues with these non-eu central banks. It also prepares policy positions, analyses and briefings on issues related to EU candidate and potential candidate countries (including issues related to macroeconomic and financial stability) and the EU accession process. The Division acts as primary contact for central banks and other institutions in EU candidate and potential candidate countries. The successful applicants will be assigned to one of the four Divisions. The successful applicant will be entrusted with the following main tasks: The traineeships will provide a unique opportunity for PhD students to be involved in the analytical tasks of DG/I, which may involve carrying out analytical projects in collaboration with staff members of the respective Divisions. The trainees will be expected to play a key role in the design and implementation of such projects and to provide support to the analytical needs of the Directorate General. A number of these projects may provide an opportunity for trainees to write and submit a paper for publication in the ECB s Working Paper Series and in academic journals. The papers should be of relevance to the Directorate General s responsibilities, be thorough in their analytical content and identify clear policy implications. The trainees will also be expected to provide support in maintaining and further improving the analytical infrastructure of the Directorate General. Successful applicants may also gain experience in the operational tasks and policy-related processes performed in one of the four Divisions. Applicants are invited to propose projects in all areas of competence of DG/I. Examples of relevant topic areas include the following: EU integration and governance, including the architecture of Economic and Monetary Union and aspects of financial, economic, fiscal and political union, and the EU s internal and external policies, including the Single Market and Capital Market Union (particularly relevant for EIF);

3 EU policies and politics, including the analysis and monitoring of the functioning of EU institutions and fora, and of public opinion (particularly relevant for EIF); assessment of international spillovers with global models, such as open economy DSGE models, multi-country models (like the Global Projection Model or the Global Integrated Monetary and Fiscal Model), or other advanced time series techniques (particularly relevant for EXT and IPA); development of tools for the monitoring, analysis and forecasting of the international environment, including global trade (particularly relevant for EXT); asset pricing and global financial stability, including methods for the measurement and the early identification of systemic risks or widespread asset mispricing; analysis of the impact of macro-prudential policies, and of international banking (particularly relevant for IPA); international transmission of macro and financial shocks, including the role of conventional and unconventional monetary policies in driving asset prices and capital flows internationally (particularly relevant for IPA); economic and financial developments in EU candidate and potential candidate countries, including the transmission of spillovers between the euro area and these countries, for example in the fields of monetary policy and financial stability (particularly relevant for IRC); policy issues relating to the IMF and international financial architecture, including IMF lending, conditionality, the traction of surveillance among IMF member countries, global financial safety nets, sovereign debt issues and capital account liberalisation (particularly relevant for IRC). Applicants are invited to explain their motivation for working in one or more of the above Divisions. They are also encouraged to submit written output they have completed that is of relevance to the topic areas mentioned above, as well as ideas and a short proposal (of about one page) for a project in one of the above-mentioned areas, or in another topical issue that falls within the field of competence of the Directorate. Qualifications, experience and skills Applicants must have the following knowledge and competencies: a PhD or, at the time of application, at least two calendar years of PhD studies in economics, political science, European studies, finance, or a closely related field. Applicants should have completed, or be close to completing, the coursework of their PhD programme; a very good knowledge of international macroeconomics, monetary economics and/or international finance, and prior experience in the analysis of advanced or emerging market economies (particularly for EXT, IPA and IRC Divisions); research work and a publication record in the topic areas mentioned above would be considered an asset.

4 Ideally, the successful applicants should have the following competencies (competencies do not apply equally to all Divisions): an advanced knowledge of time series and/or panel econometrics, and familiarity with statistical/econometric software packages such as STATA, E-Views and MATLAB (particularly for EXT, IPA and IRC Divisions); for one position (EXT or IPA Divisions), experience of Bayesian econometrics, including estimation techniques for time-varying parameter models and/or Bayesian estimation of DSGE models, would be a strong asset. Familiarity with DYNARE and with other multi-country models (such as the Global Projection Model or the Global Integrated Monetary and Fiscal Model) would also be considered an asset; a very good understanding of the functioning of EU institutions and fora, the EU s institutional set-up and policy affairs, and the foundations and functioning of EMU (particularly for EIF Division); experience in drafting briefings, policy notes and analytical reports; an advanced-level command of English; an intermediate-level command of at least one other official language of the EU; a very high level of computer literacy and the ability to use various software applications, including a good working knowledge of MS Office, in particular Word, Excel, PowerPoint. Working modalities The successful candidate will have the following behavioural competencies: communicates ideas in an effective manner and ensures mutual comprehension; manages his/her own workload independently; shares information and supports team members in the achievement of common goals; establishes and maintains cooperative relationships with staff and management at all levels; pursues projects with energy and drive; prioritises tasks and pays attention to detail, even when under time pressure; contributes to the success of projects by offering new ideas;

5 assesses current solutions and recommends superior alternatives; adapts to changing plans and circumstances with ease. Further Information PhD traineeship of three months, with the possibility of an extension to up to 12 months in total in the Directorate General International and European Relations. To further enhance the diversity of its workforce, the ECB particularly encourages applications from female candidates. Application and selection process For further information on how to join us,