The EIB, the European Union's bank, is seeking to recruit for its Risk Management Directorate (RM) – Regulation & EIB Group Risk Department (REG) - Internal Modelling Division (IM), at its headquarters in Luxembourg, a

Head of Internal Modelling Division

This is a full time position at grade 7.

The term of this contract will be 4 years.

Assessment Centers are foreseen in the third week of September

The EIB offers fixed-term contracts of up to a maximum of 6 years, according to business needs, with a possibility to convert to a permanent contract, subject to organisational requirements and individual performance.

Context

The RISK Management (RM) Directorate is the EIB’s independent risk assessment team for new and existing lending, funding and treasury operations. RM provides policies, second opinions on individual proposals, an EIB-wide portfolio view and reporting, seeking to apply Best Banking Practices.

The Internal Modelling division consist of two units and is responsible for:

• Oversight and control over the rating assignment process
• Model ownership for the Bank’s A-IRB models, including model development, monitoring and documentation for CORP, FI, PSE, SSPA and PF counterparts, including PD calibration, LGD and CCF modelling
• Support Director RM/REG in supervising over time that all credit risk models within RM are centralized in REG/IM
• IFRS 9 parameters and contribution to quarterly impairment stream
• Macroeconomic stress test models (PD, LGD)
• Model monitoring and improvement

Purpose of the role

To organize, lead and motivate the Internal Modelling division to ensure the development, maintenance and application of quantitative risk models and solutions in the domain of credit risk in order to safeguard the risk profile of the EIB.

Operating Network

You will report to the Director RM/REG and cooperate closely with colleagues both in RM and other Directorates/Departments of the Bank, in particular OPS, TMR, FC, ECON, IT and the EIF. You will directly supervise two Heads of Unit who manage the executive level staff.  You will also closely interact with other model owners (e.g., REG/CAR) to ensure consistent risk modelling framework.

Accountabilities

• Co-ordinate, plan and supervise the Division's activities and ensure that Division staff have the right competencies, objectives and motivation to deliver results
• Supervise and, when necessary, redesign the activities for the Division. Establish the necessary processes, procedures, methodologies, support and control systems and tools for the measurement and management of risk exposures related to IM and ensure their proper application and maintenance
• Support the Director of RM/REG in relations with the MC and other Directorates on all matters related to Internal Rating model and other Risk models
• Ensure effective communication and internal cooperation within the Division, across RM and with other services in the Bank
• Improve and maintain motivation of staff and team building
• Build, propose and implement policies in the area of risk modelling and give the necessary input for the development and maintenance of an overall risk strategy
• Ensure the development, maintenance and application quantitative risk models and solutions in the domain of credit risk in order to safeguard the Bank risk profile
• Engage in longer-term systems design and development aimed at keeping the Bank at the forefront of market and regulatory developments in quantitative risk modelling
• Ensure close interaction with model users across the Bank, and with REG/VAL
• Ensure timely follow up of Internal Audit Agreed Action Plans and REG/VAL recommendations as well as ensure compliance with EUC policy. 
• Provide advice and recommendations on complex credit and market risk issues and related policies for effective risk management, aligning the EIB with BBP
• Lead or participate in special initiatives that can go beyond the strict boundaries of IM domain
• Represent the Bank at seminars and conferences and represent IM at the regular meetings of committees as well as in procedure/policy working groups, steering committees related to IM activities

Qualifications

• Advanced university degree in a quantitative discipline (maths, physics or quantitative finance), preferably supplemented by post-graduate studies.
• At least 10 years’ experience in the field of quantitative risk modelling.
• Sound knowledge of regulatory requirements, especially in relation to credit and market risk models.
• Demonstrable experience in and deep understanding of all aspects of EIB’s risk management framework, policies and procedures.
• Successful experience in managing and mentoring people ideally in multicultural environments or international organisations (e.g. contribution to: deciding on team resources and skills; establishing objectives; assessing performance; delegating and supervising tasks; guiding, motivating, mentoring and providing feedback)
• Very deep understanding of the EIB’s mission, policies, procedures, organization and activities.
• Fluent in English or French (*) and a good command of the other; knowledge of other European languages would be an advantage.

EIB Core competencies

• 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.

EIB Managerial competencies

• Developing Others: Builds the long-term capability of others by guiding and developing them to make the most of their competence and potential, based on an accurate understanding of their true strengths and development needs.    
• Strategic Thinking: Thinks about the long term organisation strategy and how to align to and implement it; comes up with useful new strategic insights.
• Team Leadership: Builds a high performing team, ensuring it is focused, motivated and inspired to achieve organisational objectives, encouraging performance excellence and addressing underperformance when required.

(*) 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 rapidly build up 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 believe that diversity is good for our people and our business. We promote and value diversity and inclusion among our staff and candidates; irrespective of their gender, age, nationality, race, culture, education and experience, religious beliefs, sexual orientation or disability.

Deadline for applications: 8th August 2018

We particularly welcome applications from women and persons with disabilities.

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