Head of Unit Economic Research recruitment

 WE ARE: The Authority

ESMA is an independent EU Authority that contributes to safeguarding the stability of the European Union’s financial system by ensuring the integrity, transparency, efficiency and orderly functioning of securities markets, as well as enhancing investor protection. In particular, ESMA fosters supervisory convergence both amongst securities regulators, and across financial sectors by working closely with the other European Supervisory Authorities competent in the field of banking (EBA), insurance and occupational pensions (EIOPA).

For further information please refer to ESMA’s website: http://www.esma.europa.eu.

WE PROPOSE: Tasks and Responsibilities

The Head of Unit will lead a team of currently 2 economists. The team will grow to around 6 staff by the end of 2012 and is expected to grow further in the years ahead.

The main responsibilities of the Head of Unit will be:

-Leading the economic work contributing to ESMA's objectives. This includes work on trends and developments regarding securities markets and financial consumers

-Leading the data collection and economic analysis needed for the achievement of ESMA’s tasks in the area of investor protection and stability

-Leading the data collection and analysis to provide the ESRB (European Systemic Risk Board) with regular and timely information necessary for the achievement of its tasks

-Cooperating closely and on a regular basis with the ESRB and ensuring a proper follow-up to its warnings and recommendations

-Driving the policy analysis of legislative and regulatory developments in the area of investor protection and financial stability at European level

-Supporting the preparation of impact assessments and cost-benefit analysis for the adoption of technical standards, in order to ensure high quality and timely outputs

-Fostering strong and open relations with national supervisors, EU institutions and other relevant stakeholders in the Unit’s fields of activity

-Acting as the main channel for the exchange of information between the senior management, the various members of the Unit and the other Heads of Unit and Divisions of ESMA

Finally, he/she will be responsible for the team management and coordination of the unit, contribute to the definition of its work programme and represent the Unit in important meetings with internal and external stakeholders.

WE LOOK FOR: Qualifications and experience required

Eligibility criteria

Qualifications

a)a level of education which corresponds to completed university studies in a field relevant for this position attested by a diploma, when the normal period of university education is four years or more; or

b)a level of education which corresponds to completed university studies attested by a diploma and appropriate professional experience of at least one year in a field relevant for this position, when the normal period of university education is at least three years.

Professional experience

Have at least 12 years of proven full-time professional experience in some or all of the fields covered by the job description out of which five years in a management position.

Professional experience shall be taken into account from the date on which the person fulfils the minimum qualifications or engagement.

Knowledge of languages

Have a thorough knowledge of oral and written English and a satisfactory knowledge of a second language to the extent necessary for the performance of the duties pertaining to the post.

In addition, in order to be eligible a candidate must:

Selection criteria

Essential

Hard Skills

• Technical knowledge in economics and economic research and experience in the functioning of financial markets gained within top ranking private firms, banks, securities firms, law firms, National Regulators, EU or governmental bodies, etc.

• Strong ability to identify and formulate policy implications on the basis of economic research and analysis

• Thorough knowledge of the European regulatory and supervisory framework in the area of securities markets

• Solid understanding of the functioning of the EU financial institutions and stakeholders

• Good knowledge of the EU decision-making processes

Soft Skills

• Solid experience in building, managing, coordinating and motivating a team

• Good knowledge of management principles, in particular as regards strategic planning, prioritisation, project management and allocation of resources

• Capacity to initiate and implement new processes and methodologies

• Excellent negotiation and communication skills

• Strong sense of responsibility, sense of commitment and co-operation

• Excellent social skills and capacity to establish and maintain good inter-personal relations, including in cross-cultural environments

• Ability to analyse complex information from a wide range of disciplines and sources, consider options in a clear and structured way and propose and/or implement recommendations

Advantageous

• Previous experience in a similar position, at national or European level

• Experience in starting up a new organisation or a business unit

• Ability to drive and manage an organisational culture change

• Knowledge/experience of different cultural settings

• Knowledge of a third or fourth language of the European Union

• A PhD in a Economics or Financial markets studies would be considered an asset

Equal opportunities

As a European Union agency, ESMA will apply a policy of equal opportunities and will take care to avoid any form of discrimination in its recruitment procedures.

Selection procedure

The selection will be organised as follows:

1.ESMA will establish an internal selection committee that will analyse the motivation letter and CV of eligible applicants with reference to the selection criteria and will establish a shortlist.

2.Short listed candidates will be invited to sit written tests and an interview.

Written tests will aim to assess mainly managerial capacities of the candidates, as well as their analytical and drafting skills. The written tests will be done in English.

The interview will aim to assess the candidate’s suitability to perform the duties, specialist knowledge and motivation. The selection committee will hold interviews in English. 

Appointment and conditions of employment

A contract offer will be made as a temporary staff member pursuant to Article 2 of the Conditions of Employment of Other Servants of the European Communities. The contract will be for an initial period of 3 years, renewable once. Any further renewal will be for an indeterminate period.

The place of employment will be Paris (France) where the Authority has its seat.

The successful candidate will be recruited in the grade AD10. In addition to the basic salary, staff members will be entitled to a managerial allowance and may be entitled to various allowances, in particular household allowance, expatriation allowance (16% of the basic salary and household allowance), dependent child allowance and education allowance. The salary is subject to a Union tax deducted at source and staff members are exempt of national taxation.

The selected candidate will be invited to be available at short notice.

For further information, please refer to the Conditions of Employment of Other Servants of the European Communities: http://ec.europa.eu/civil_service/job/temp/index_en.htm

Application procedure

For applications to be valid, candidates must submit:

• a detailed curriculum vitae, preferably in EU CV format

http://europass.cedefop.europa.eu/europass/home/hornav/Downloads/EuropassCV/CVTemplate.csp

• a letter of motivation (2 pages maximum)

Complete applications are to be submitted in English via email to vacancies@esma.europa.eu specifying the Job Title and the reference:

ESMA/2011/VAC33/ Head of Unit “Economic Research”/AD10

Note that to be accepted, application details must be provided in English only.

Closing date

Applications must be sent no later than 20 December 2011 at 12.00h (Paris time).