Senior Economist (m/f/d)

European Stability Mechanism 5<y Senior Level  Luxembourg 21 Jul 2021

Job Description

ESM – European Stability Mechanism is looking for a

Senior Economist (m/f/d)

We are looking for a senior economist to work in the Policy Strategy and Institutional Relations division. The selected candidate will contribute to the ESM role and mandate by reviewing and providing recommendations the delivery of financial assistance and country monitoring. Specifically, s/he will review assessments of borrowers’ repayment capacity, macroeconomic and financial risks, as well as important financial assistance-related institutional recommendations, policies and other documents. S/he will further develop and ESM financial assistance instruments and frameworks as well as maintain and review processes and policies. S/he will report to the Head of Policy Strategy and Institutional Relations.

The European Stability Mechanism (“ESM”) is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. European leaders have agreed to an expanded mandate for the ESM, which it will implement in the years ahead. The ESM will have a stronger role in the analysis of financial stability risks and design of policy measures in programmes, jointly with the European Commission; it will provide the Single Resolution Board with a financial backstop to support effective and orderly resolution of banks. In the context of the current Covid-19 crisis, the ESM has established a precautionary credit line as one important element in the joint European response to the pandemic.

The ESM is a unique place to work with around 200 individuals from around the world committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sector.


  • Take a leading role in assessing the consistency of ESM economic and financial analyses, their even-handedness and alignment with ESM policies;
  • Perform high-level review of documents that include ESM policy recommendations or conclusions related to country monitoring and financial assistance;
  • Analyse and assess ESM stability support instruments and role in stability support programmes;
  • Further develop and implement the frameworks for reviewing ESM’s reports, recommendations and policies related to the analysis of euro area macroeconomic and financial risks and the delivery of financial assistance;
  • Contribute to the assessment of macroeconomic and financial risks in euro area member states from a policy perspective;
  • Translate complex and technical topics into a concise policy line;
  • Produce briefing notes and policy analyses to support the participation of senior ESM staff and the Managing Director in policy forums;
  • Coordinate joint workstreams with European and international institutions to support the work of the ESM;
  • Produce high-quality research on relevant topics related to the ESM’s role as a crisis resolution mechanism;
  • Prepare documents for consideration by ESM boards and committees;
  • Collaborate closely with colleagues in other divisions and departments;
  • Support ESM’s interactions with policymakers and peer organisations, in particular with the European Commission, the European Central Bank and the International Monetary Fund.


  • Graduate at PhD or Master level, preferably in economics or finance;
  • Excellent knowledge of macroeconomics, including quantitative skills;
  • At least eight years of experience in an economist role. For PhD holders, the minimum requirement in terms of years of relevant experience may be reduced by up to two years, if considered appropriate.Prior experience in a role analysing and reviewing sovereign lending programmes, financial stability support instruments or participation in country programmes and surveillance, would be a strong asset;
  • IT literacy;
  • Excellent oral and written English skills. Any additional languages are an asset.


  • Strong analytical and problem solving skills;
  • Critical and strategic thinking;
  • Communication and interpersonal skills;
  • Resilience, flexibility and change;
  • Team work and collaboration;
  • Leveraging diversity and inclusion.

Deadline for application: 25 August 2021

Contract duration: Three-year fixed term contract

Note: As a result of the selection process, please note that you may be placed on a ‘reserve list’ valid for a duration of six months during which you might be considered for a similar position with a similar level of requirements. Only those candidates who have been notified will be placed on the ‘reserve list’. After this period, you will need to apply again for our vacancies to be considered for a different selection process.

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.

Please don’t forget to mention in your application!