The EIB, the European Union's bank, is seeking to recruit for its Finance Directorate (FI) - Department (SPBS) – Division (FPM), at its headquarters in Luxembourg, a:
(Senior) Quantitative Financial Policy Officer
This is a full time position at grade 5/6
Panel interviews are anticipated for mid/ end of October
This is a preliminary campaign for an anticipated future vacancy.
You will support the Finance Directorate (FI) in the design of financial policies and methodologies and in the strategic decision-making in areas of critical importance to FI. You will conduct financial research and analysis, developing, testing and maintaining a wide range of quantitative models and providing general technical support to the implementation of FI or Bank-wide projects, in co-operation with all the FI departments and with frequent interactions with other relevant directorates of the EIB.
Financial Policies & Methodologies (FPM) Division, within the Strategy Policies and Business Support Department (SPBS), is a new function established to provide FI management with methodologies and analysis supporting a wide range of strategic decisions.
In this role, you will report to the Head of Division and will work in close cooperation with the other members of the team, strengthening the analytical and policy functions of the Division. The FPM division is new. The scope of its activities and responsibilities are still being crafted and the range of topics and policy issues looked at is broad. Coaching and guidance will be provided by senior colleagues.
You should demonstrate proactivity, flexibility and a capacity to work autonomously. Given the specific role of FPM and its natural complementarity with the Operational Support and Monitoring (OSM) division, the (Senior) Quantitative Financial Policy Officer will have frequent interactions with the OSM division.
You will have regular contact with colleagues in other Directorates, notably internally within the FI Departments, as well as other departments within the Bank, such as Risk Management and Financial Control.
You will also have external contacts with International Financial Institutions and other Multilateral Development Banks.
Autonomy is given with operational guidance, the jobholder has to initiate action based upon interpretation of the situation and/or covered by precedents. In general mainly a review of end results.
Develop, test, document and maintain quantitative models supporting FI strategy decisions and the reinforcement of the 1st line of defence functions within FI, within the risk limits of the Bank, on topics such as:
- Assets & Liability Management (including the measurement and management of the cross tenor and cross currency basis risk, FX positions, optionalities)
- Financial analysis and simulation tools
- Fund Transfer Pricing
- Liquidity and treasury management and optimisation (overall and by currency)
- Funding strategy (in particular the volume, currency mix, format and maturity profile of the funding programme, and the target level of maturity transformation versus lending)
- Market risk in the trading book
- XVA-Derivatives value adjustments (CVA, DVA, FVA, counterparty’s FVA, KVA, counterparty’s KVA, CollVA)
- Economic and regulatory capital models related to exposures handled by FI
- Provide support on technical and quantitative matters during the design and the implementation phase of FI projects or Bank-wide projects impacting FI.
- Support colleagues working in the Department on projects related to the compliance with industry standards and to the creation of 1st line controls.
- Provide quantitative analysis, when needed, to support discussion points in permanent committees (e.g. ALCO) and working groups.
- Contribute to the forming and revision of policies.
- Develop constructive working relations within the Finance Directorate in order to ensure effective internal cooperation and communication, and represent itin inter-directorates working groups.
- Provide general support to the Division and the Directorate
- University degree in quantitative areas such as Financial Engineering, Applied Finance or Economics, Applied Statistics, Applied Mathematics, Computational Finance.
- Post-graduate studies in these subjects and professional qualifications, such as ACT qualifications, PRMIA or GARP for Risk Management or CQF for Quantitative Finance would be an advantage.
- At least 5 years of relevant professional experience acquired preferably in a reputable consultancy firm, a major financial institution, a central bank or a major international organisation.
- Relevant experience in quantitative modelling and risk management practices for capital markets and/or treasury activities, within front office, middle office or risk management.
- Relevant experience in the development and implementation of financial risk models, with a focus on one or several of the following: interest rate, liquidity, market, FX or counterparty risks.
- Strong knowledge of programming and of one or several analytical software packages such as VBA, SAS, Matlab, C#, C++, SQL, Python.
- Knowledge of the best banking practices and industry standards related to one or more of the risks managed in 1st line by FI (interest rate, FX, liquidity, market and counterparty credit risks) is considered a plus
- Good knowledge of the Bank's mission, financial and lending activities.
- Excellent knowledge of English and/or French(*), with a good knowledge of the other. (Knowledge of other EU languages 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: 1st October 2018
(*). We particularly welcome applications from women and persons with disabilities.