ESMA is an independent EU Authority that was established on 1 January 2011. ESMA's mission is to enhance investors' protection and promote stable and orderly financial markets. This mission is derived from ESMA's founding Regulation and encompasses three objectives:
ESMA achieves these objectives through four activities:
The aim of this vacancy notice is to establish a reserve list of suitable candidates for the profile of Policy & Convergence Officer for several available positions linked to current and future workstreams.
With the recently agreed additional responsibilities for ESMA, there is a particular need to strengthen our capabilities to support our direct supervision activities, our efforts in supervisory convergence, as well as to continue to improve our regulatory and cross-cutting functions.
This profile is for you if you:
As a Policy & Convergence Officer at ESMA your tasks might include the following:
Conducting policy and analysis work related to asset management and investment funds in general; and contributing to ESMA's tasks in promoting supervisory convergence among national authorities in the area of investment management. Conducting similar work related to the elimination of regulatory barriers to the cross-border distribution of investment funds in order to enable a better functioning Single Market.
Conducting policy and analysis work related MiFID II/MiFIR provisions on investment services and activities by investment firms and credit institutions in the investment services markets (authorisation, organisational and conduct of business requirements), for investor protection more generally (including any potential use of product intervention powers to address investor protection concerns) and to contribute actively to ESMA's tasks in promoting the supervisory convergence among national authorities in the area of investor protection, investment services and activities, financial instruments and structured deposits.
Contributing to investor protection by conducting the above activities or any other related initiatives in the area of corporate finance and reporting related to Prospectus Directive and Regulation, Transparency Directive, IAS Regulation, Audit Regulation or the Non-Financial Information Directive.
Conducting policy and analysis work related to ESG by preparing regulatory measures and/or developing supervisory convergence tools.
Contributing to the continued implementation, the supervisory convergence and the review of the MiFID II/MiFIR legislation. This includes a diverse set of topics ranging from transparency for shares, bonds and derivatives, the regulatory framework for commodity derivatives, the cost of market data and the establishment of a consolidated tape in the Union, the governing framework for algorithmic trading and specific topics such as the trading obligations for derivatives and shares.
Contributing to the review and to the implementation of the related regulation and developing supervisory convergence tools.
Contributing to the review of the related regulation and to the implementation of the Benchmarks Regulation also in the context of ESMA's new responsibilities in this area under the ESA Review.
Conducting policy work related to the implementation of EMIR and its future amendments and in particular with reference to contribution to CCP colleges' work, the recognition/registration and where relevant the supervision of Third Country CCPs (TC-CCPs), as well as any related regula- tory, policy and supervisory convergence work in the field of CCPs.
Development of data quality action plans, including ESMA's and National Competent Authorities' measures for enhancing the quality and usability of market data. Defining the methodologies to assess the quality of the data provided by trade repositories and data service providers and to measure the effectiveness of the measures taken. Setting up or reviewing existing regulatory frameworks for reporting market data under EMIR, SFTR, MIFIDII/MIFIR, MAR and other relevant regulations and drive convergence in their implementation.
Conducting policy and analysis work related to CRAs and Securitisation by preparing regulatory measures and developing supervisory convergence tools.
Assessing the third country frameworks and relevant criteria for granting equivalence and moni- toring of third-country developments (i.e., regulatory, supervisory and market developments in third country as well as the supervisory record of third country authorities) in jurisdictions subject to a positive equivalence decision by the Commission. The purpose of this monitoring is to en- sure that the conditions upon which the equivalence decision is based continue to be fulfilled on an ongoing basis, with a particular emphasis on third-country developments that may impact the financial stability of the Union or of one and more of its Member States.
To be considered eligible, candidates must satisfy all the eligibility criteria listed below, by the deadline for submitting applications:
Applications which fulfil the above Eligibility criteria (part A) will be assessed and scored against the Essential requirements (part B.1). Candidates who do not meet all of the Essential requirements (part B.1) will be excluded from the selection process.
Candidates who meet all of the Essential requirements (part B.1) will be scored against the Advantageous requirements (part B.2).
Within this comparative evaluation of applications, the 80 best candidates (who obtain the highest scores and reach a minimum score of 60%) will be invited first for the written test. Consequently, the best candidates, who reach a minimum score of 60% for the written tests, will then be invited for the oral interviews with the ESMA Selection Board.
a) Knowledge proven by education or work experience of the regulatory framework of the EU financial sector;
b) Work experience of at least three (3) years (acquired after obtaining the minimum qualification, see point 3A) in the area of policy making;
c) Excellent drafting skills in English and clear writing style.
d) Knowledge proven by education or experience in at least one of the following indus- tries/areas:
e) Experience in coordinating committees or expert groups;
f) Experience in project management (mention your role, the size of the team and the budget);
g) Experience with national authorities or EU institutions in the context of Financial Sector;
h) Experience in collecting and analyzing information from different jurisdictions;
i) Motivation for the advertised position.
Candidates invited for written test and interviews will be assessed against all selection criteria (parts B1 & B2 & B3).
j) Excellent methodological and analytical skills and capacity to identify key issues;
k) Strong communication skills and ability to communicate clearly and effectively with internal and external stakeholders;
l) Ability to deliver high-quality work under pressure and tight deadlines;
m) Dynamic personality with strong aptitude for team work; and
n) Ability to tackle complex issues, as well as presenting the results of his/her work in a structured manner to various stakeholders in a clear and understandable way.
Candidates who receive at least 60% of the maximum points in both the interview and written test will be included in the reserve list of suitable candidates.
The established reserve list may be used for the recruitment of a similar profile depending on the needs of ESMA. Please note that inclusion in the reserve list does not guarantee recruitment.
You must submit your application via the ''Apply'' button. ESMA does not accept applications submitted by any other means.
All sections of the application must be completed in English. In order to be considered, applications must be received by 23:59:59 CET on the closing date. We advise you to submit your application well ahead of the deadline, in order to avoid potential problems due to heavy traffic on the website.
Applicants will be assessed on the basis of the eligibility and selection criteria specified in the vacancy notice (as explained in part 3) and these must be met by the deadline for submitting applications.