Job Offer


Application Open Date: 
17/08/2021 - 02:01
Deadline Date: 
20/09/2021 - 23:59
Type of Contract: 
Contract staff
JOB Description: 
DIRECT SUPERVISION ESMA applies a risk-based approach to supervision, which means that – following a thorough registration process - ESMA actively prioritises a number of high priority supervisory issues. Through a variety of supervisory tools, including an increasing on-site presence and detailed desk-based analysis, ESMA aims to have a good understanding of the entities that it supervises and of their risks. ESMA enforces breaches in a proportionate and effective manner and evalu-ates continuously its supervisory activities to further improve the effectiveness of its supervision. Supervisors at ESMA may participate in the following activities: - development and application of supervisory risk-analysis in light of ESMA’s risk-based supervisory approach; - development and implementation of supervisory work program, including through en-gagement in supervisory dialogue with the supervised entities; - coordination with other competent authorities in the context of the supervision of CRAs, CCPs, EMIR data reporting and data quality initiatives; - assessing applications for registration; - conducting thematic and individual investigations into, and perform on-site inspections at, registered firms; - assessing the perimeter of the application of the relevant rules against the information re-ceived from registered entities; and - identifying, drafting and referring potential sanctioning cases to ESMA’s independent in-vestigating officer. ESMA acts or will act as direct supervisor in the following areas: - Credit rating agencies (CRAs); - Trade repositories under EMIR and under the Securities financing transaction regulation (TRs); - Benchmarks – direct supervision of administrators of EU critical benchmarks and recog-nised administrators of third-country benchmarks; - Central counterparties (CCPs) – for third country CCPs ESMA acts as direct supervisor, for EU CCPs ESMA participates in supervisory colleges; Data Service Providers; - Securitisation repositories. IT and Data supervision ESMA is particularly looking for experts with experience in IT/Data supervision, using proprietary and commercial data. ESMA collects and analyses a wide and growing range of regulatory data that we use actively in our supervisory activity. As part of supervision, experts are also dealing with data management, quality management, continuity, automation, and are looking for statisti-cal evidence and anomalies. INDIRECT SUPERVISION (SUPERVISORY CONVERGENCE) Ensuring consistent supervisory practices and well coordinated supervision among national com-petent authorities (NCAs) is a key objective for ESMA under its Strategic Orientation 2020-2022. NCAs need to act as one and coordinate their supervision in situations that involve more than one NCA to ensure smooth cross-border business. ESMA acts as facilitator in these situations by developing itself as a hub for expertise sharing and for the development of common supervisory responses. Staff in charge of supervisory convergence support ESMA in reaching the above mentioned objective, in a given regulatory area or from a transversal perspective (e.g. through conducting EU-wide supervisory risk assessment, performance of peer reviews assessing NCAs’ supervisory practices, contributing to the design and implementation of convergence tools inspired by supervisory tools; contributing to drafting Q&As, guidelines and other guidance for a convergent application of the EU framework). The supervisory convergence activities are covering all major regulatory areas of ESMA, such as: Investment management; Investor protection and intermediaries; Corporate Finance and Reporting; Environmental, Social and Governance (ESG); Trading; Market Integrity; Benchmarks. Direct supervisory experience in any of these or other areas at national level will be an important asset to help ESMA promote supervisory convergence across the Union financial markets.
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