Jorren

DNB trainee

Dynamic and topical

I feel as if I have been very lucky throughout my entire traineeship. I started at Horizontal Functions & Integrity Supervision, just when anti-money laundering fines for major banks were frequently in the news. Then I went to the Business Cycle & Macro Analysis department, just when we were experiencing the highest inflation in the euro area since the 1970s. I don't know if you remember early last year when a number of banks collapsed in America and Credit Suisse got into trouble here in Europe? Then I had just started at European Banking Supervision. Of course, something is always happening – the global economy never stands still. But my traineeship could not have been much more dynamic and topical.

Governing Council

A personal highlight was being able to participate in the preparations for the monetary policy meeting of the ECB’s Governing Council. An important decision had to be made for future interest rate hikes and the purchase programmes. A miscalculation could have huge consequences for the 350 million people in the euro area. It was wildly fascinating to be in the place where so much economic power and influence is concentrated, and to be able to study the political game up close. And it meant a lot that, as a trainee, I could contribute to our understanding of inflation trends and share my estimates with Klaas Knot.

During the traineeship, you develop a broad perspective on the economy, the financial markets and the infrastructure behind them.

Just in time

Inflation is a number, but there is much more to it and it is the result of all kinds of different economic processes. What is the real cause of inflation? How does it differ between countries? I researched this during my traineeship and wrote memorandums on the topic. This involved searching for relevant indicators and trying to predict which way inflation is heading. The energy component - the price of gas and oil - is very important in the inflation mix. I also looked at what happens if inflation spreads to all goods and services. It can then become entrenched in inflation expectations, making it much harder to bring back down. For a while, we feared a wage-price spiral, just like in the 1970s. Fortunately, that did not happen; we were just in time with the interest rate hikes.

Holistic view

The DNB traineeship was a great opportunity for me. You learn about all aspects of the bank and develop a broad perspective on our economy, financial markets and the infrastructure behind them. Each department requires a somewhat different skill set. And you learn a lot from how colleagues do things, how they solve problems, the methods they use. Now in my daily work, I find that I benefit a lot from the holistic view I developed during the traineeship. And I’m also a buddy of someone who started in September. It’s interesting to see that he has the same questions I had two years ago. I’m really glad that I can pay it forward in this way.

Stories of our employees

Adriaan - Data & Technology trainee

Where can a trainee participate in the publication process for financial statistics?

Read the story about Adriaan - Data & Technology trainee

Zooey - Data & Technology trainee

As a trainee with data skills, how can you contribute to a more stable economy?

Read the story about Zooey - Data & Technology trainee

Related vacancies

All vacancies
Waarmerk drempelvrij.nl