The European Central Bank (ECB) today publishes the vacancy notice for the position of the Chair of the Supervisory Board of the single supervisory mechanism. The ECB is seeking a suitable candidate of recognised standing and experience in banking supervision and financial matters. The Supervisory Board will be responsible for the planning and execution of the supervisory tasks conferred upon the ECB and its mandate to direct supervise the most significant banks in the euro area. Suitable candidates are invited to submit their applications in line with the terms and conditions of the vacancy notice.

The procedure for selecting and appointing the Chair is outlined in the vacancy notice and will respect the principles of experience, qualification and gender balance. Following the selection process, the ECB’s Governing Council will propose one candidate to the European Parliament for approval. Following the European Parliament hearing, the Council of the European Union will decide on the appointment.

In the coming days, the attached vacancy notice will also be published in the Official Journal of the European Union, and advertisements will be placed in several pan-European publications. The closing date for the submission of applications is 21 October 2013. The procedure for the selection and appointment of the Chair of the Supervisory Board will be subject to the adoption and entry into force of the single supervisory mechanism regulation by the Council of the European Union.