Deadline: 2 December 2013
Open to: students from Member States of the European Union who have just finished, or are close to completing, university studies (Bachelor or Master’s) with a specialisation in the field of accounting, finance or a related discipline
Remuneration: monthly grant of €1050 or €1900; accommodation, travel costs, and medical insurance
The European Central Bank (ECB) plays a key role in Europe’s economy; the world’s second largest. Together with the central banks of the countries in the euro area, ECB makes decisions that affect the lives of people living in the euro area. It is located in Frankfurt, Germany.
The Accounting and Procurement Division and the Financial Reporting and Policy Division form part of the Directorate General Administration of the ECB. Both Divisions are seeking applications from recent graduates or students who are close to completing their studies to participate in a traineeship for a period of six months.
The Accounting and Procurement Division is responsible for maintaining the general ledger, recording and processing payments, conducting all related tax activities and maintaining the fixed asset accounts, as well as for advising on, overseeing and monitoring ECB procurement activities.
The Financial Reporting and Policy Division is responsible for producing the financial statements of the ECB and the Eurosystem, as well as the accounts relating to the ECB’s financial assets. It also provides the ECB and the European System of Central Banks with expertise in the fields of financial analysis and accounting policy.
The traineeship aims to give successful applicants the opportunity to gain experience in the day-to-day operations of some of the ECB’s administrative functions.
If assigned to the Accounting and Procurement Division, the trainee would contribute to the daily work of the Division, by being involved in the various daily processes(account entries, system workflows, documentation filling, etc)
If assigned to the Financial Reporting and Policy Division, the trainee would contribute to the daily work of the Division by being involved in the various daily processes (e.g. reconciling accounting data, recording accounting vouchers, etc); contribute to the production of ECB and Eurosystem financial statements; and provide support for financial analysis and the monitoring of policy issues.
To enable the recruiting Division to fulfill its function, the successful applicant may occasionally be expected to work non-standard hours. The traineeship will last 6 months, with the possibility of an extension to up to 12 months in total.
The traineeship is aimed at students from Member States of the European Union who have just finished, or are close to completing, university studies (Bachelor or Master’s) with a specialisation in the field of accounting, finance or a related discipline. Knowledge of financial markets and financial instruments would be an asset. Applicants must also possess the following knowledge and competencies:
- advanced command of English with proven drafting ability;
- a good knowledge of at least one other official language of the EU; for the traineeship with the Accounting and Procurement Division, a basic command of German would be an asset;
- a working knowledge of MS Office, in particular Word, Excel and PowerPoint.
- communicates ideas in an effective manner and ensures mutual comprehension;
- manages his/her own workload independently, without burdening other team members unnecessarily;
- embraces new technology and processes with enthusiasm;
- shows commitment to the achievement of organisational goals;
- delivers agreed results within tight time frames;
- prioritises tasks and pays attention to detail, even when under time pressure;
- ability to work as part of a team in a multicultural environment.
We will receive a grant of either €1050 or €1900 per month, depending on the tasks you will be expected to perform and on your relevant qualifications (unless otherwise stated in the vacancy). For example, trainees who have completed at least 2 years of PhD study and who apply for a traineeship vacancy that requires such a level of qualification may be granted €1900. If your place of recruitment is more than 50 km from the ECB, they will also offer you residence (or equivalent reimbursement), and will reimburse you for your travel expenses at the beginning and end of your traineeship. Medical insurance is also included in the remuneration package.
The residence consists of a single occupancy self-catering apartment (including kitchenette and bathroom). Alternatively you may be reimbursed for private accommodation, for rental costs up to €750 (including utilities) per month, against presentation of a signed rental contract and proof of payment No additional costs such as agent’s fees/deposits/cleaning will be reimbursed. In case of shared apartments, costs will be divided by the number of occupants.
The travel expenses at the beginning and end of their traineeship are reimbursed under the following guidelines:
- if you travel by car for more than 300 kilometres, we reimburse €0.40 per kilometre plus tolls and meals
- if you travel by plane, you may be reimbursed for an economy class return ticket coinciding with the start and end of your traineeship. The ticket should allow for changes (in case of a prolongation of your contract, for instance). You are allowed to bring 10kg extra luggage
- if you travel by train, you may be reimbursed for a 1st class return ticket. The ticket should allow for changes (in case of a prolongation of your contract, for instance).
- additional travelling costs to and from the airport or train station such as bus and taxi will also be reimbursed
- all reimbursements are paid against receipts. For the per kilometre car allowance fuel bills are required as evidence.
The closing date for applications is 2 December 2013. Applications are to be made in English and submitted using the online application form HERE. Search for “Traineeships” to find this vacancy. An “Applicants’ Guide” can be downloaded HERE.
The recruitment process may include a pre-screening exercise and a telephone interview. Before applying, applicants should check that they meet the conditions set out in Article 3 of the rules governing the traineeship programme HERE.
If you are unable to find the answer to any of your questions, please send an e-mail to [email protected]. Further information on the ECB’s traineeships can be found at the official website HERE and on the call for applicants HERE.