Job Description

Deadline for application: 28 October 2026. We are looking for an economist to join the Chief Economist department to monitor and assess macroeconomic and financial developments and risks in euro area countries, and work with analytical tools for macro-financial risk detection. You will report to the Head of Economic and Market Analysis.

The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. It has launched five financial assistance programmes, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest. The ESM has received an expanded mandate from European leaders to have a stronger role in financial stability risk analysis and the design of policy measures in programmes, jointly with the European Commission.

KEY ACCOUNTABILITIES

• Monitor and analyse macroeconomic and financial market developments in the euro area and euro area member states.
• Prepare analytical notes, reports, and presentations contributing to the ESM's assessment of economic and financial developments, including the ESM's Euro Area Stability Watch publication.
• Contribute to briefings for senior management.
• Develop and use analytical tools that provide insights on economic and financial developments and risks in euro area countries and the euro area as a whole.
• Support policy analysis and contribute to translating analytical findings into operational recommendations and policy advice.
• Collaborate closely with colleagues in other divisions and departments, including in funding and investment operations, to exploit analytical synergies of economics, finance, and market intelligence.

KEY BACKGROUND & EXPERIENCE

• Master's degree or PhD in economics, finance, econometrics, or another relevant quantitative discipline.
• At least one year of relevant professional experience in macroeconomic analysis, economic surveillance, financial stability analysis, policy institutions, central banking, international financial institutions, or related fields.
• Sound knowledge of macroeconomics and financial economics, supported by well-developed quantitative and econometric skills.
• Experience in analysing economic and financial developments and communicating findings to diverse audiences.
• Solid analytical and statistical skills, including experience working with quantitative analysis tools, datasets, and relevant statistical or econometric software.
• Familiarity with statistical and econometric software (e.g. R, Python, Stata, MATLAB, or similar) would be considered an asset.
• Excellent oral and written communication skills in English.

KEY COMPETENCIES

• Critical and strategic thinking
• Teamwork and collaboration
• Ability to develop self and others
• Communication and interpersonal skills
• Problem-solving skills

APPLICATION PROCESS AND PRACTICAL INFORMATION

• Deadline for applications: 28 October 2026
• Expected start date: as soon as possible
• Contract type: interim contract
• Place of employment: Luxembourg
• Current working arrangements: possibility to work remotely, usually up to two days a week, from Luxembourg and the border region (or from further away under certain conditions).
• Contract duration: six months, with possibility of extension to a maximum of twelve months

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.