The EIB, the European Union's bank, is seeking to recruit for its Transaction Management & Restructuring Directorate (TMR) – Counterparty Management Department (CM) – Public Sector Division (PS) at its headquarters in Luxembourg, a:
(Associate) Transaction Management Officer – non-EU Public Sector
This is a full time position linked to the Africa Investment Facility
The term of this contract will be until the 31st of December 2020.
Panel interviews are anticipated for begining of September
The main purpose of Africa Investment Facility (AfIF) is to support sustainable growth in Africa, it aims at fostering investments which will have a positive impact on the socio-economic development such as infrastructures in transport, communication, water, energy as well as agriculture and private sector development, in particular SME's.
The (Associate) Transaction Monitoring Officer (TMO) will carry out the regular financial monitoring (from first disbursement) of a portfolio of signed EIB Pubic Sector operations in the regions outside the European Union and Candidate Countries. S/he will manage event resolutions for standard post first disbursement events, including negotiation and implementation of solutions. The TMO will be responsible of the relationship with counterparts and contribute to the understanding of EIB's exposure to on-going financial risks thereby ensuring the stability and solidity of the Bank’s portfolio of outstanding loans. S/he will monitor standard cases in order to protect the Bank's financial interest and reputation with the support of more senior colleagues where appropriate.
Post Specific Environment
TMR monitors counterparts and financial contracts and acts on contractual events under its responsibility, as well as on distressed transactions in order to protect the EIB’s financial interest and reputation. The Directorate is responsible for the financial monitoring, event resolution, divestment and restructuring of (i) EU/non-EU debt counterparts, (ii) equity funds, equity-type and subordinated instruments after disbursement/investment or signature, as applicable (iii) distressed transactions restructuring and recovery. TMR is also responsible for developing and updating Bank-wide Financial Monitoring guidelines.
TMR/CM/PS covers all Public Sector operations in the Bank’s loan portfolio and is comprised of two Units, covering EU operations and non-EU operations.
The successful candidate will report to the Head of the Public Sector Unit, under the authority of the Head of Division. Internally, s/he will cooperate closely with other Directorates across the Bank, in particular with the Origination, Project, Legal, Finance and Credit Risk teams, and with the other Divisions in TMR. S/he will also have external contacts with counterparts, borrowers and/or primary guarantors (public enterprises or Ministries) as well as with the co-lenders, sector experts and/or technical assistance consultants. The composition of the portfolio will ultimately depend on specific language skills and/or knowledge of specific environment.
- Carry out, according to an agreed programme, reviews of counterparts and transaction contracts in the regions outside of the EU and Candidate Countries, assess their credit standing as well as their contractual compliance.
- Propose internal counterpart ratings.
- Prepare and lead projects (with the support of senior colleagues where appropriate) and counterpart contacts, visits, and financial reviews in coordination with relevant Bank Services (i.e. Project Directorate (PJ) and the regional offices).
- Monitor project progress, through monitoring missions with colleagues from the technical Projects Directorate (mainly Engineers and Economists), and the fulfilment of Borrower/Promoter's contractual obligations, conditions and covenants, in line with internal approvals and procedures.
- Prepare annual Project Monitoring Reports based on an established working programme and deadlines.
- Handle relations and represent the Bank vis-à-vis borrowers, guarantors, co-financiers, Governments and EU institutions under the guidance of senior colleagues when necessary.
- To the extent required, review disbursement conditions and the processing of disbursements (i.e. in case of specific contractual amendments and/or waivers) in coordination with the Disbursement Analyst.
- Identify and negotiate, whenever required, resolution of post signature events: assess the situation, propose a solution/remedy/strategy to contractual breaches, prepare the necessary internal documentation, coordinate approval and participate in their implementation, working with colleagues in other EIB Directorates and with external co-financiers as appropriate.
- Monitor and follow-up the repayment of the loans in the portfolio as they become due.
- Collaborate and coordinate with colleagues in the Project Directorate, Credit Risk, Origination, Legal, and other Directorates/Departments, as well as with other TMR divisions.
- Contribute to the Division's regular reports, in particular Watch List reports.
- Check and, when necessary, update in a timely and accurate manner the data related to own portfolio in the Bank's IT systems.
- Ensure that the administrative procedures during the various stages of project implementation are respected.
- University degree, preferably Finance, Economics, Law or in Business Administration, Civil Engineering, ideally supplemented by post-graduate studies and/or relevant training in Public Sector analysis.
- At least 3 years of relevant professional experience in financial and project analysis, ideally including a track record in Public Sector loans, preferably outside Europe, with minimum 1 year of experience in structuring, origination, negotiation, credit and transaction monitoring.
- The ability to handle and negotiate event resolutions for public sector operation and to process waivers and amendments of contractual clauses.
- Interest and experience of emerging markets would be a strong advantage.
- Understanding of the EU institutional and political framework in which the Bank operates and of the EU External Objectives Policy supported by the Bank’s activity is key.
- Knowledge of standard computer tools, particularly electronic document management systems. Experience and advanced knowledge of Excel and/or other financial modelling systems and techniques, would be an advantage.
- Excellent knowledge of either English and/or French(*), with a good knowledge of the other. Knowledge of other languages – such as Arabic - would be an advantage.
- Achievement Drive: continually keeps an eye on performance, focusing on improving it, showing drive and determination to meet short and long-term goals
- Change Orientation: Adapts to differences and changes in the environment; takes a flexible approach to reach outcomes
- Collaboration: Works cooperatively as part of a team; works collaboratively with peers across organisational boundaries based on a genuine interest in and an accurate understanding of others and their individual perspectives and concerns.
- Organisational Commitment: Is willing to commit to an organisation whose mission is to support Europe and is open to diversity, and to align her/his own behaviour with the organisation’s needs and intrinsic values, acting with integrity in ways that promote the organisation’s mission, policies and rules
(*) There may be certain flexibility on this requirement, but limited to particularly suitable candidates who may not yet be proficient in French. If selected, such candidates will be hired on the condition that they build up rapidly knowledge of French and accept that their future career in the EIB may be subject to the attainment of sufficient proficiency in both of the Bank's working languages
We are an equal opportunity employer, who believes that diversity is good for our people and our business. As such, we promote the inclusion of suitably qualified and experienced staff without regard to their gender, age, racial or ethnic origin, religion or beliefs, sexual orientation/identity, or disability (*).
Deadline for applications: 20th July 2018
(*). We particularly welcome applications from women and persons with disabilities.