General Information

• Type of contract: Fixed-term contract, which may be extended subject to individual performance and organisational needs
• Who can apply?: EU nationals
• Salary: E/F (bracket 1 - step 1) full time monthly net salary: €4,611 plus benefits, for further information see
• Working time: Full time
• On-call?: Yes
• Shift?: Yes
• Place of work: Frankfurt am Main, Germany
• Closing date: 17.12.2024

Your team

You will be part of the Market Infrastructure Management Division in the Directorate General Market Infrastructure and Payments. Our Directorate General has about 300 staff who seek to ensure that Europe’s financial markets can rely on safe and efficient market infrastructure, while embracing innovation and fostering European integration. We support the provision of payment and securities settlement services, oversee financial market infrastructure and payment instruments, and work with stakeholders to improve the overall functioning and integration of the euro area market infrastructure. 

In your role as a Market Infrastructure Specialist, you will be part of a team of around 30 who are responsible for managing, analysing and operating the Eurosystem’s cash (T2 and TIPS) and securities (T2S) settlement infrastructure, known as TARGET Services. The Division will also be taking on responsibility for coordinating the daily operations of the new Eurosystem Collateral Management System (ECMS). 

You will provide analysis of the business operations of ECB platforms, ensuring that they comply with all applicable regulatory and legal frameworks and rules, and contribute to large-scale Eurosystem projects in the area of market infrastructure and payments.

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 Market Infrastructure Specialist you will:

• operate the Eurosystem’s TARGET Services and liaise with relevant stakeholders to ensure that operational incidents are managed in line with the agreed procedures and operational risk management framework to minimise the impact on all parties;
• manage the day-to-day operations of clients using the ECB’s TARGET system and provide them with assistance;
• draft operational reports and notes on topical matters relating to the governance of TARGET Services;
• contribute to establishing and maintaining operational procedures for TARGET Services, managing operational risks, as well as to drafting and updating relevant legal and contractual documentation;
• contribute to projects related to market infrastructures and carry out operational testing of TARGET Services.

The position offers you excellent opportunities to work in a dynamic environment and help to manage some of the world’s largest financial market infrastructures. 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 equivalent in finance, business administration, economics, mathematics, physics, computer science or another relevant field (see How you can join us for details on degree equivalences);
• in addition to the above, a minimum of two years’ professional experience in at least one of the following areas: payments, securities settlement systems, financial services infrastructure, or financial market operations;
• sufficient knowledge of the operations of the market infrastructures described above, in particular in all of the following areas:
  • good general business and operational knowledge relating to payment and settlement systems, collateral management and banks’ liquidity management;
  • an understanding of the oversight of - and legal framework regulating - payment and securities infrastructures;
  • an understanding of the interdependencies between market infrastructure and financial market participants at European and global level;
• the ability to deliver results within tight time frames, manage multiple assignments, prioritise tasks appropriately, and track the status and progress of numerous processes simultaneously;
• a proven ability to present subject matter in your area of expertise to internal and external audiences in a clear and concise manner;
• 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: 

• experience of operating financial market infrastructure;
• knowledge and experience in operational risks and/or cyber resilience and information security processes.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

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 motivated to be part of our team and to develop and use your skills and competencies to achieve the objectives of this position.

Working modalities

To enable the Division to cover the normal operating hours of TARGET Services and to maintain its business continuity capability, you will regularly be expected to work during non-standard working hours and be on-call on weekends, as well as occasionally work at the ECB’s standby site. 

Further information

The formal title of this position will be Financial Market Specialist.

The contract(s) offered will be fixed-term, lasting until 31 December 2026.

Temporary appointments may be extended or made permanent subject to organisational needs and budgetary constraints. This may result in a staff member with a non-convertible fixed-term contract being offered a convertible contract in accordance with the ECB Conditions of Employment.

For additional information on this specific vacancy, you can speak to the hiring manager, Eirini Katsalirou, on +49 (0)69 1344 21465 between 14:00 and 16:00 on 6 December 2024.

Application and selection process

The recruitment process for this position will be conducted remotely. It will include a written exercise, a presentation and an interview.

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of How we hire), from which you might be considered for similar positions within the ECB.

Find out how to apply for a position at the ECB. 

Read more about how you can join us.