The EIB, the European Union's bank is seeking to recruit for its Transaction Management & Restructuring Directorate (TMR) – Implementation Division (IMPL), Guarantees and Arrears Unit (G&A) at its headquarters in Luxembourg, a:
Implementation Officer – Guarantees & Arrears
This is a full time, temporary position at grade 4/5
The term of this contract will be 2 years
Panel interviews are anticipated for mid January 2019
Purpose
The successful candidate will be mainly involved in the execution of activities and processes related to guarantees in favour of the Bank as guarantee beneficiary, notably for operations benefitting from portfolio guarantees under risk sharing mandates European Fund for Strategic Investments (EFSI), InnovFin, RSFF, External Lending Mandate and Member State guarantee as well as bank and corporate guarantees. The tasks of the selected candidate will encompass also other transversal activities handled by the Division, such as preparation of reports on guarantee calls/refunds to the various mandators, management reports on arrears and non-compliance events in relation to EIB lending operations and follow up of guarantee renewals.
Specific post 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.
The IMPL/G&A unit performs operational activities in the framework of arrears monitoring, and executes calls/refunds under guarantees in favour of the Bank, including guarantees extended under mandates agreed between the EIB and the EU Commission (e.g. under EFSI, InnovFin, ELM guarantee) and the Members States, as well as bank/corporate guarantees.
In addition, the Unit produces management reports on arrears, internal rating coverage and non-compliance notes. The team also follows up and co-ordinates timely execution of guarantee renewals.
Operating Network
Work under the supervision of the Head of Unit and/or another senior member of the G&A Unit and be part of a team of around 6 staff members. Extensive interactions with other Bank’s services (notably Operations, Finance Directorate, Financial Control, Legal Directorate, Risk Management, IT) and with other Divisions in TMR. Interact externally with the Member States and the EC.
Accountabilities
- Execute day-to-day tasks in the area of guarantees and arrears.
- Execute standard guarantee calls and contribute to the execution of non-standard ones, in compliance with relevant policies and processes.
- Contribute to the design of the required adaptations to IT systems for existing and new mandates with a component of a portfolio guarantee in favour of the EIB.
- Maintain guarantee call procedures up to date taking into account modifications of the guarantee agreements and with a view to minimizing operational risks.
- Prepare internal management and/or external reports on guarantee calls/refunds.
- Acquire a good understanding of the reporting procedure for Internal Ratings, Guarantee Renewals and Non-Compliance Notes, in order to support the execution of the regular reports and of the related follow-up activities.
- Take part on behalf of the G&A Unit to inter services meetings or working groups related to guarantees (e.g. for standards, methodologies, best banking practices).
- Contribute to a good level of coordination and communication with other stakeholders within TMR and other directorates.
Qualifications
- University degree, preferably in Business Administration, Finance, Accounting and/or Law.
- At least 3 years of relevant professional experience in a related role, preferably in lending origination, loan monitoring, restructuring or middle office.
- Experience with guarantee call processing would be an advantage.
- Knowledge of a wide range of lending products, including loans, equities, sub-ordinated debt, unfunded and funded risk sharing products etc. would be an advantage.
- Good knowledge of EIB procedures for lending operations, previous involvement into EFSI or other Member States and European Commission mandates would be an advantage.
- Good knowledge and experience in the use of MS Office tools. Knowledge of other software tools for document and workflow management, Business Objects and EIB software applications (such as CLM, Serapis, LMS/APCA) would be an advantage.
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Fluent in English and/or French and a solid understanding of the other(*). a third language would be an advantage.
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.
(*) 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.
We particularly welcome applications from women and persons with disabilities.
Deadline for applications: 21st November 2018