This mission is derived from ESMA's founding Regulation and encompasses three objectives:
Investor protection: to have the needs of financial consumers better served and to reinforce their rights as investors while acknowledging their responsibilities;
Orderly markets: to promote the integrity, transparency, efficiency, and well functioning of financial markets and robust market infrastructures; and
Financial stability: to strengthen the financial system in order to be capable of withstanding shocks and the unravelling of financial imbalances while fostering economic growth.
ESMA achieves these objectives through four activities: (i) assessing risks to investors, markets and financial stability, (ii) completing a single rulebook for EU financial markets; (iii) promoting supervisory convergence; and (iv) directly supervising specific financial entities.
2. Job framework and profile
ESMA is organising a selection procedure for the post of ESMA Chair.
The ESMA Chair is a full-time independent professional, member of ESMA staff, based in Paris (France). He/she is a voting Member of and chairs ESMA's Board of Supervisors and Management Board. The Chair is the face of the Authority and sets the long-term strategic orientation of the Authority.
The Chairperson's term of office shall be five years and may be extended once.
The ESMA Chair will be responsible for the tasks laid down in the Regulation establishing ESMA, and in particular:
Chairing the meetings and setting the agenda of ESMA's Board of Supervisors and the Management Board;
Preparing the work of ESMA's Board of Supervisors;
Acting as the head and external representative of ESMA;
Developing ESMA's strategy and ensuring the achievement of ESMA's objectives;
Fulfilling certain clearly defined tasks and decisions of the Board of Supervisors; and
Participate at least yearly in a hearing before the European Parliament and answer questions from its Members.
3. Professional qualifications and other requirements
A. Eligibility criteria
To be considered eligible, candidates must satisfy all the eligibility criteria listed below, by the deadline for submitting applications:
Have at least a level of education which corresponds to completed university studies of four years attested by a diploma , and after having obtained the diploma, fifteen (15) years of proven professional experience
OR have at least a level of education which corresponds to completed university studies of three years attested by a diploma, and after obtained the diploma, sixteen (16) years of proven professional experience
Be a national of a Member State of the European Union;
Enjoy full rights as a citizen;
Have fulfilled any obligations imposed by the applicable laws concerning military service;
Have a thorough knowledge of one of the languages of the European Union and a satisfactory knowledge of another language of the European Union;
Be physically fit to perform the duties linked to the post;
Be able to complete the full five-year-mandate before reaching retirement age
B. Selection criteria
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 assessed and scored against the Advantageous requirements (part B.2). Within this comparative evaluation of applications, up to ten (10) best candidates who obtain the highest scores will be invited for interviews with the Selection Board.
B.1. Essential requirements
a) At least fifteen (15) years of experience (acquired after the required level of education, see part 3A), of which at least five (5) years at a senior position in the area of ESMA's remit;
b) Excellent written and spoken English
B.2. Advantageous requirements
c) Thorough knowledge of and proven experience in financial markets, financial regulation and/or supervision/oversight of securities markets at national, EU or international level;
d) Thorough understanding of the EU Institutions, EU decision-making processes, EU and international activities of relevance to ESMA;
e) Excellent knowledge of the EU political and legal environment and proven negotiation experiences at EU and/or international level;
f) Experience in directing an organisation with significant tasks and objectives and steering that organisation to the achievement of its objectives; and
g) Motivation for the advertised position.
B.3. Supplementary requirements
h) Excellent communication and presentation skills with the ability to communicate clearly and present complex subjects simply, both orally and in writing, whether in public or in meetings with internal or external stakeholders;
i) Excellent networking abilities and interpersonal skills, including the capacity to deal and negotiate with high level governmental representatives as well as stakeholders and financial industry representatives within and outside the EU;
j) Proven ability to steer discussions and generate the best possible decisions at strategic and political level without compromising productive working relationships with the other parties involved; and
k) Strong sense of responsibility, integrity, initiative, self-motivation and commitment to work in the public interest and serve the EU as a whole.
Candidates invited (up to 10) to the interviews will be informed (in the invitation letter) of the composition of the Selection Board. The candidates will be assessed during the interview against all selection criteria (parts B1 & B2 & B3).
As a result of the interviews, up to six (6) candidates will be included in the reserve list and be invited for an interview by the Board of Supervisors.
This selection procedure is the basis for the establishment of the reserve list. Inclusion on the reserve list does not guarantee the appointment. Applicants should note that the reserve list may be public, once it has been adopted by the Selection Board.
The Selection Board's work and deliberations are strictly confidential and any contact with its members is strictly forbidden. Any contact made by the candidates or third parties in order to influence the Members of the Selection Board in relation to the selection constitutes grounds for disqualification from the selection procedure.
As a next step, the shortlisted candidates (up to six) will be invited to give a presentation on a pre-defined topic (followed by an interview) by the ESMA Board of Supervisors.
The presentations and the interviews will take place on the same day. The topic of the presentation will be communicated to the shortlisted candidates in the invitation for the interview with the Board of Supervisors.
The Board of Supervisors shall draw up a shortlist of qualified candidates for the position of the ESMA Chair, with the assistance of the Commission. Based on the shortlist the Council shall adopt a decision to appoint the ESMA Chair, after confirmation by the European Parliament. The envisaged start date of the contract is 1 April 2021.
Candidates may be required to undergo further interviews and/or tests in addition to those indicated above.
4. Ethics obligations
The ESMA Chair acts independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union Institutions or bodies, from any government or from any other public or private body. The ESMA Chair abides by, and actively promotes, ESMA's Conflict of Interest Policy for ESMA Staff and ESMA's Code of Good Administrative Behaviour.She/he is subject to the requirements of professional secrecy while working at ESMA and after having left.
The successful candidates to be included in the reserve list (i.e. the ones that will be interviewed by the Board of Supervisors) will be informed that they will have to submit two declarations: a declaration about conflict of interest and a declaration on their intention to act independently in the public interest and on professional secrecy.
The selected candidate will be required to declare to ESMA any personal interest, in particular family or financial interests, or other interests of third parties (e.g. related to previous positions held), which would, or could potentially, impair their independence should they be appointed as ESMA Chair and which may thus lead to any actual, potential or perceived conflict of interest relevant to the position. The declarations of interests of the candidates will be examined in accordance with ESMA's Conflict of Interests and Ethics Policy for ESMA Staff.
The person having served as ESMA Chair will be bound to seek clearance from ESMA (for two years after leaving ESMA) before engaging in another activity. If that activity is related to the work carried out during the last three years of service at ESMA, and ESMA believes that it could lead to a conflict with the legitimate interests of ESMA, ESMA can give its approval subject to any conditions it sees fit or forbid the activity. Activities that would put the ESMA Chair in a situation of conflict of interests will not be authorised.
B.4. How to apply
Candidates must apply by sending the following documents, by the specified deadline, via the ''Apply'' button.
The application must include: CV (European format) and motivation letter in English (working language of ESMA);
Application documents must be marked accordingly with the reference number of the vacancy notice (see templates below).
CV in the European format, saved as:
ESMA_2020_VAC11_AD15_FAMILY NAME_First name_CV
Motivation letter of no more than 2 pages, explaining the interest and motivation of the candidate for this particular post, saved as:
ESMA_2020_VAC11_AD15_FAMILY NAME_First name_Motivation letter
Indication in the subject line of the email:
ESMA_2020_VAC11_AD15_FAMILY NAME_First name
Application documents 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 candidates to submit their applications well ahead of the deadline, in order to avoid potential problems.
Please consult the Candidates Guidelines for instructions on completing your application.
All correspondence will take place by email, so candidates should ensure that the email address is correct and that it is checked regularly.
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.
ESMA applies a policy of equal opportunities.
5. Summary of conditions of employment
Successful external candidates may be offered an employment contract for five years as a temporary agent 2(a) with one possible extension
Successful external candidates will be recruited in the grade and classified in step 1 or 2.
As ESMA Chair, the successful candidate shall be entitled to receive a managerial allowance (4.2% of the basic salary) subject to completing successfully the month trial period;
The salaries paid by ESMA are those applicable to all EU staff members. They are subject to the correction coefficient for France (currently 117.7%).
Salaries are subject to a Union tax deducted at source and are exempt from national taxation.
Depending on the individual family situation and the place of origin, the successful jobholder may be entitled to: expatriation allowance (16% of the basic salary), household allowance, dependent child allowance, education allowance, pre-school allowance, installation allowance, reimbursement of removal costs, initial temporary daily subsistence allowance, and other benefits.
Leave, Pension and Sickness Insurance
Annual leave entitlement of two days per calendar month plus additional days for age, grade, 2.5 days home leave if applicable, and in addition on average 17 ESMA holidays per year;
EU Pension Scheme (after 10 years of service);
EU Joint Sickness and Insurance Scheme (JSIS), accident and occupational disease coverage, unemployment and invalidity allowance and insurance, and
General and applicable professional training, plus professional development opportunities;
For more information, please refer to Careers' page of ESMA: https://www.esma.europa.eu/about-esma/careers
6. Data protection
Candidates' personal data are processed as required by the Regulation (EU) No 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data. This applies in particular to the confidentiality and security of such data. For more information, please check the privacy statement on recruitment procedures.
Internal Number: 8096813
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