[1] In this capacity he serves as a member of the Governing Council of the European Central Bank (ECB), as well as of the board of governors of the International Monetary Fund (IMF).

After completing his secondary education (vwo) at the Andreas College in Drachten, he studied economics at the University of Groningen.

[4][5] After obtaining his doctorate Knot began working as a Senior Economist at De Nederlandsche Bank in the Department of Monetary and Economic Policy.

After serving in this capacity for three years, in December 2002 he left De Nederlandsche Bank again to become the director of the Dutch Pensions and Insurance Authority, charged with supervision of all Dutch pension funds and insurance companies.

In 2009 he left De Nederlandsche Bank once more to become Director of Financial Markets, and Deputy Treasurer General of the Dutch Ministry of Finance.