Risk Officer, market risk and reporting

Job description

Deadline for application: 6 April 2026. We are looking for someone with solid foundation in market risk and reporting to join the Risk Management division as a Risk Officer. You will support the risk monitoring and reporting processes for the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF), contribute to the smooth daily functioning of risk analytical solutions, and assist in maintaining the accuracy and reliability of market risk metrics.

You will work under the guidance of the Lead Officer for the Market Risk & Reporting team and report to the Head of Risk Management.

Key Accountabilities

• Actively support the development and implementation of new risk systems by designing and documenting risk data models, coordinating with stakeholders and developers, translating requirements into technical solutions, performing functional testing, and contributing to future development phases.

• Assist with the closure of open audit points and help investigate alternative market and liquidity risk models.

• Monitor the ESM/EFSF portfolio, new trades, and risk metrics to ensure compliance with rules and guidelines.

• Investigate and provide feedback to stakeholders on changes in market risk measurements.

• Execute daily quality checks on input data used for risk monitoring and reporting.

• Contribute to the production, analysis, validation and distribution of risk reports for internal and external committees, including the ESM Management Board and Board of Directors.

• Help maintain Risk Management’s data architecture through liaisons with relevant stakeholders for the proper functioning of interfaces amongst the data source systems, the risk analytical solutions, and the reporting solutions.

• Participate in cross departmental activities and projects.

• Promote a risk culture and ensure good collaboration with other divisions.

Key Background & Experience

• University degree in economics, finance, risk management, business administration, mathematics, engineering, or equivalent

• Minimum of two years of relevant experience in risk management preferably in an international financial institution or other relevant public institution, including proven experience in the following:

  • Quantitative and market risk background related to fixed-income risk management and valuations

  • Theoretical and practical implementation of diverse Value at Risk models (Historical, Parametric, Monte Carlo, GARCH)

  • Risk reporting

  • Programming in VBA and/or Python

• Drafting ability in theoretical and methodological documentation, including working papers on risk models and quantitative concepts

• Capacity to present complex risk analyses to committees in a clear and structured manner

• Microsoft Office skills (Excel, PowerPoint, Word, PowerBI)

• Front office and risk management software experience (e.g., MSCI Risk Manager, Murex) is desirable

• Fluency in English, both oral and written required, any additional languages are an asset

Key Competencies

• Analytical and problem-solving skills

• Communication and interpersonal skills

• Teamwork and collaboration oriented

• Attention to detail and commitment to excellence

• Resilient, flexible, and adaptable

• Continuous learning mindset

• Integrity, inclusivity, and respect for diversity 

Application Process And Practical Information 

• Deadline of publication: 6 April 2026
• Employment grade: Officer   
• Contract duration Four-year fixed-term contract, with possibility of extension   
• 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). 

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. 

Note 1: The ESM reserves the right to refrain from hiring, or to slightly modify job responsibilities, as needed. 

Note 2: 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.  

About us

The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. To date, the ESM and its predecessor organisation, the European Financial Stability Facility (EFSF), have launched six financial assistance programmes to five countries, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest.

The ESM is a unique place to work with around 230 individuals 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 sectors. The ESM’s senior management is committed to preserving and enhancing a diverse, inclusive recruitment and work environment.