The successful applicant will be recruited to work in the Directorate General Market Operations (DG/M), which: (i) prepares the monetary policy and foreign exchange operations of the Eurosystem; (ii) executes centralised operations and coordinates, controls and, in some cases, executes decentralised operations; (iii) manages the ECB’s foreign exchange reserves and own funds; (iv) develops and maintains the framework for all financial market activities; (v) coordinates the provision of reserve management services by the Eurosystem to non-euro area central banks, monetary authorities and countries, as well as to international institutions; (vi) maintains relationships with financial market participants, central banks and official institutions; (vii) monitors and analyses the market developments which are relevant for the design and conduct of market operations; and (viii) contributes to the mission work of the ECB in specific euro area countries, monitoring and analysing financial sector developments and assessing bank funding issues (including issues related to the management of impaired assets and resolution structures) insofar as they are relevant to the implementation of the single monetary policy.
The Financial Market and Collateral Section is one of two sections within the Market Operations Analysis Division in DG/M. The section: (i) develops and maintains the Eurosystem collateral framework, and in particular maintains the list of eligible assets on a day-to-day basis and analyses the use of collateral by counterparties; (ii) analyses structural developments in financial markets that may require an adaptation of the collateral framework, carrying out analytical studies on the impact the collateral framework may have on the functioning of financial markets and the behaviour of counterparties, and undertaking, where needed, catalytic action to foster developments in financial markets and instruments; (iii) prepares briefing material, in particular for European and international meetings; and (iv) participates in external working groups related to the topics of its responsibilities.
The successful applicant will be entrusted with the following main tasks:
- managing and maintaining the datasets contained in the Collateral and Counterparty Database (C2D) and the Market Operations Database (MOPDB) and the datasets related to close links between counterparties and collateral contained in the Register of Institutions and Affiliates Database (RIAD);
- creating reports extracting data from the above-mentioned datasets using the tools employed in the Division, including SQL queries;
- performing regular data quality control checks on the basis of a wide range of internal databases and external financial market data providers;
- supporting various projects aimed at enhancing the technical infrastructure used to perform the Section’s tasks;
- communicating with the Eurosystem/ESCB Collateral Management Network (CMN) and Asset-Backed Securities and Covered Bonds Network (ACN) on technical and procedural aspects related to collateral;
- managing on a daily basis the Eligible Assets Hotline;
- developing and maintaining business continuity procedures;
- contributing to the Section’s other tasks;
- maintaining and developing relationships with other business areas, other central banks and other relevant institutions in connection with the maintenance and development of the Eurosystem collateral framework.
Closing Date for Applications: 8/27/2014
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