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:  02.01.2024

Your team

You will be part of the Financial Research Division in the Directorate General Research. Our Division’s roughly 25 economists conduct policy-relevant research on financial and monetary economics. We cover topical issues such as macro-financial linkages, the interaction between monetary and financial stability policies, financial innovations like fintech and digital currencies, and the financial implications of climate change. We publish articles in leading academic journals and the ECB’s own publications, such as its Working Paper Series and Research Bulletin, in addition to preparing policy notes and reports for internal and external use.

In your role as a trainee Student Research Assistant, you will support our economists in their research projects. Your tasks will typically consist of compiling and analysing cross-sectional, time-series and panel datasets. Depending on your specific skill set, you may also be involved in modelling, solving and estimating macro-financial dynamic stochastic general equilibrium (DSGE) models. 

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 Student Research Assistant, you will support research projects by:

• constructing and maintaining monetary, financial and economic databases;
• presenting data in conjunction with basic economic and statistical analyses;
• developing mathematical, statistical and econometric procedures for research projects;
• supporting and maintaining software tools and hardware installations. 

Depending on your areas of expertise, your work may also require you to conduct micro-econometric analyses (primarily in Stata) and time-series analyses (primarily in MATLAB), or solve, calibrate and simulate DSGE models with banking and financial frictions (using MATLAB and Dynare). You may also be asked to apply big data/machine learning techniques (using SQL, Python and R) to support future research projects.

The Traineeship Programme offers you an excellent opportunity to work closely with our Division’s economists and to gain first-hand exposure to world-class research. You will be able to develop your analytical skills and get an insight into the ECB's research activities and policymaking processes. You will also engage with new ideas and stimuli that will provide a useful foundation for your future career or graduate studies. 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, statistics, finance, mathematics or a related field;
• experience in at least one of the following technical areas of expertise: compiling and analysing large cross-sectional (micro) databases, such as financial transactions data, household or firm-level survey data, or bank/firm balance sheet data (using, for example, fixed and random effects estimation in cross-section and panel data, difference-in-difference estimation, propensity score matching estimation or event study analysis); econometric analysis of macroeconomic or financial time series data (using, for example, vector autoregression, state-space models and quantile regression); modelling, solving and estimating DSGE models;
• an in-depth knowledge of at least one of the following high-level programming languages: Stata, MATLAB, Python and R;
• familiarity with at least one of the following databases/data providers: Bureau van Dijk, Fitch Connect, SNL Financial, Dealogic, Bankscope, Bloomberg and Thomson Reuters Eikon;
• familiarity with macroeconomic and financial statistics as presented in international databases (e.g. the ECB Statistical Data Warehouse, ECB Household Finance and Consumption Survey, Eurostat, Bank for International Settlements, International Monetary Fund International Financial Statistics);
• a good knowledge of spreadsheet and database software, in particular SQL, Microsoft Excel or Microsoft Access;
• 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.

Desired: 

• a master’s degree or a period of study towards a master’s degree in economics, statistics, finance, mathematics or a related field;
• experience in machine learning techniques (e.g. for financial or macroeconomic forecasting or textual analysis).

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 of up to 12 months in total.

Other details on the conditions applicable to traineeships at the ECB can be found on our website.

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.

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.