Date: 1st of September 2011
SUPERVISION OFFICER - CREDIT RATING AGENCIES
TEMPORARY AGENT (AD7)
The European Securities and Markets Authority (ESMA) was established by the Regulation (EU) No
1095/2010 of the European Parliament and of the Council of 24 November 2010.
ESMA's mission is to protect the public interest by contributing to the short, medium and long-term sta-
bility and effectiveness of the financial system, for the Union, its citizens and businesses. It aims to:
• improve the functioning of the internal market, including in particular by contributing to ensuring
a sound, effective and consistent level of regulation and supervision;
• ensure the integrity, transparency, efficiency and orderly functioning of financial markets;
• strengthen international supervisory coordination;
• prevent regulatory arbitrage and promote equal conditions of competition;
• ensure the taking of investment and other risks is appropriately regulated and supervised; and
• enhance consumer protection.
For further information please refer to ESMA’s website: http://www.esma.europa.eu.
ESMA is offering a temporary agent (TA) position within the Credit Rating Agencies Supervisory Depart-
ment. Under the responsibility of the Head in charge of “Credit Rating Agencies” and jointly with other
colleagues working in the areas of CRAs supervision, the successful candidate will be responsible for:
• on-going supervision of credit rating agencies (monitoring compliance assessment with the re-
quirements of the EU Regulation, on-desk verifications, on-site inspections, etc)
• on-going surveillance on credit ratings (all asset classes)
• contributing to the analysis of market and products developments, reporting identified trends
and/or risks related to the latter, and processing market intelligence;
• coordinating with other regulators in relation with supervisory actions
Qualifications and experience required:
a. Eligibility criteria
Candidates must be nationals of an EU Member State.
ESMA • 103 Rue de Grenelle• 75007 Paris • France • Tel. +33 (0) 1 58 36 43 21 • www.esma.europa.eu
a) a level of education which corresponds to completed university studies in the field of finance or
similar attested by a diploma, when the normal period of university education is four years or
b) a level of education which corresponds to completed university studies in the field of finance or
similar attested by a diploma and appropriate professional experience of at least one year, when
the normal period of university education is at least three years.
Only study titles that have been awarded in EU Member States or that are subject to the equivalence cer-
tificates issued by the authorities in the said Member States shall be taken into consideration.
Have at least 7 years of proven full-time professional experience in a field relevant for this position ac-
quired after the qualification required under a) or b)
Knowledge of languages
Have a thorough knowledge of 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:
• be a national of a Member State of the European Union
• be able to serve a full 3-year term before reaching the retirement age of 65
• be entitled to his/her full rights as citizen
• have fulfilled any obligations imposed by the applicable laws concerning military service
• meet the character requirements for the duties involved
• be physically fit to perform the duties linked to the post
b. Selection criteria
• Professional experience of at least 7 years acquired in the area of securities markets, credit risk
analysis within a professional firm (e.g. bank, credit institution or asset manager), a regulator or
governmental body, or with a mortgage/consumer lending institution
• Knowledge of the European regulatory and supervisory framework in the area of securities
markets, banking or securitisation
• Ability to work as member of a team and establish good interpersonal relations
• Capacity to analyse and identify key issues, to develop independent opinions and defend his/her
own views rigorously
• Well organised, methodical and self-motivated
• Ability to work under pressure within tight deadlines
• Excellent oral and written English
• Experience of working in an international environment
• Experience in the area of credit rating agencies, internal/external auditing or credit risk
• Specific knowledge in securitisation or credit rating methodologies
• Relevant Professional qualification/certification (i.e. CFA…) would be considered as an asset
• Knowledge of the international developments in the fields relevant for this position
c. 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.
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 consist of a test on a subject in the field of the present selection, designed to test the
ability to understand, analyse and summarise, as well as the drafting skills of the candidates (this test
will be marked out of 5; pass mark: 3). 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 interview will be marked out of 15; pass mark: 10). The selection committee will
hold interviews in English and eventually partially in the second language of the candidate to test the
ability of the candidate to express herself/himself in a second language.
Written tests and interview might be organised on the same day.
3. The selection committee will place the candidates with the highest aggregate marks on the reserve
list. From this list, suitable candidates, matching best ESMA’s needs, will be recruited upon decision of
the ESMA appointing authority. Candidates should note that inclusion on the reserve list does not
The Selection Committee's work and deliberations are strictly confidential and any contact with its mem-
bers is forbidden.
Supporting documents showing evidence of the information given in the application documents will be
requested at a later stage. No documents will be sent back to candidates. If, at any stage in the proce-
dure, it is established that information provided by a candidate is incorrect, that candidate
will be disqualified.
Appointment and conditions of employment
A contract offer will be made as a temporary staff member pursuant to Article 2 of the Conditions of Em-
ployment 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 AD 7. The basic monthly salary for AD7 (step 1) is
5.568 eur. In addition to the basic salary, staff members may be entitled to various allowances, in particu-
lar household allowance, expatriation allowance (16% of the basic salary and household allowance), de-
pendent child allowance and education allowance. The salary is subject to a Union tax deducted at source
and staff members are exempt of national taxation.
If the member of staff selected is an official of the EU, s/he may resign, request leave on personal grounds
or ask to be seconded under Art. 37(b) and 39 of the Staff Regulations, while other staff members of the
EU have to resign.
The selected candidate will be invited to be available at short notice.
Before the appointment, a successful candidate shall undergo a medical examination by the medical ser-
vices of the Commission in order that the Agency may be satisfied that s/he fulfills the requirement of Ar-
ticle 28(e) of the Staff Regulation of the Officials of the European Communities.
For further information: http://ec.europa.eu/dgs/personnel_administration/publications_en.htm.
For applications to be valid, candidates must submit:
• a detailed curriculum vitae, preferably in EU CV format. You can find the template in the following web
• a letter of motivation for this specific position (2 pages maximum).
Complete applications are to be submitted in English via email to email@example.com specifying
the Job Title for and the reference: ESMA/2011/VAC/9/AD7
Note that to be accepted, application details must be provided in English only.
Applications must be sent no later than 16th of September 2011.
The Authority will ensure that candidates' personal data are processed as required by Regulation (EC) No
45/2001 of the European Parliament and of the Council of 18 December 2000 on the protection of indi-
viduals with regard to the processing of personal data by the Community institutions and bodies and on
the free movement of such data. This applies in particular to the confidentiality and security of such data.