






You will be part of the Market-based Finance Division in the Directorate General Macroprudential Policy and Financial Stability. Our Directorate General has more than 100 staff providing analyses and policy advice on issues relating to financial stability, non-bank financial intermediation, financial regulation and macroprudential policy. The Market-based Finance Division assesses and mitigates the systemic risks arising from the activities and behaviour of non-bank financial intermediaries. We also monitor financial stability risks in financial markets, coordinate the Directorate General’s market intelligence activities and improve understanding of how market-based finance interacts with monetary policy. In your role as a PhD trainee, you will be part of a team of approximately 20 members of staff responsible for policy-relevant analysis, model development and the coordination of the ECB’s views on the issues mentioned above.