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: 21.02.2025

Your team

You will join the ECB’s Directorate General Market Infrastructure and Payments. We are responsible for the euro’s payment, securities settlement and collateral management systems – referred to collectively as “TARGET Services”. The tasks we perform include overseeing financial market infrastructure and payment instruments in the euro area, helping financial markets to operate smoothly. We also work with the financial industry to promote innovation and harmonisation in business practices across Europe. For example, in today’s digital world, we are helping foster innovation in the fields of retail payments, instant payment solutions, securities settlement, collateral management applications and cyber resilience.

We are looking for trainees to join the Market Infrastructure Development Division and the Market Infrastructure Management Division, which are both part of the ECB’s Directorate General Market Infrastructure and Payments. The Market Infrastructure Development Division is responsible for business development, project delivery and the development of services in the fields of high-value payments and retail payments, securities settlement, collateral management and onboarding for TARGET Services. The Market Infrastructure Management Division oversees operations relating to securities settlement, high-value payments and collateral management. It also coordinates and supports steering and technical groups composed of external stakeholders with a view to addressing their needs in those fields of operation. 

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 in the Directorate General Market Infrastructure and Payments, you will be involved in:

• project management (including planning, monitoring, reporting and risk management), change management and onboarding for TARGET Services;
• tasks related to policy and regulatory issues, system functionalities and the design and development of financial market infrastructure services;
• establishing incident and crisis management procedures, supporting day-to-day operations and planning activities related to deploying TARGET Services;
• stakeholder engagement (including coordinating meetings, documenting outcomes and drafting briefings), supporting the governance of TARGET Services and collaborating with a variety of stakeholders, including financial institutions, central banks, Eurosystem committees and EU institutions.

This position offers you excellent opportunities to learn about financial market infrastructure and contribute to the Eurosystem’s role in this field, gaining exposure to a wide range of tasks in one of the most exciting areas of the ECB. During the traineeship, you will gain hands-on experience in the delivery and operation of large and complex pan-European IT platforms. 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, business administration, econometrics, programming, computer science, engineering, finance, mathematics, physics or a related field;
• advanced knowledge of the MS Office package, in particular Excel and Power Point;
• 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 in economics, business administration, econometrics, programming, computer science, engineering, finance, mathematics, physics or a related field;
• experience in drafting and presenting complex subject matter in a clear and concise manner for different audiences;
• knowledge of change and/or risk management methodologies, principles and practices;
• a general understanding of financial market infrastructure (i.e. payment, securities settlement and collateral management systems);
• a general understanding of central banking and the ECB’s mission, tasks and responsibilities.

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 to up to 12 months in total. The traineeships will have different start dates, with the earliest being in July 2025.

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 a pre-recorded video interview in the pre selection phase and – if you are invited to participate in the subsequent selection phase – an online interview and a remote written exercise.

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.