The EIB, the European Union's bank, is seeking to recruit for its Finance Directorate (FI) – Treasury Department (TRE) – Portfolio Management Division (PM), at its headquarters in Luxembourg, a:
Liquidity and Portfolio Management Analyst/Officer
This is a full time position at grade 4/5
The term of this contract will be 4 years
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.
Panel interviews are anticipated for end of April 2019
Purpose
As Liquidity and Portfolio Management Analyst/Officer, you will provide high standard, dedicated and frequent analysis to the Portfolio Managers to support the Bank’s management of assets and management activities by implementing and developing an Advanced Analytical Tool and reporting that will allow Front Officers to handle and protect their portfolio with a greater efficiency.
Operating network
You will report directly to the Head of Division and support of the full division composed of 6 professional staffs.
The EIB’s Treasury manages the liquidity requirements of the bank within strict guidelines. In 2018, average liquidity has exceeded the equivalent of EUR 60 billion in different currencies. Approximately between EUR 5 to EUR 8 billion has been specifically allocated for longer-term portfolio management activities. This comprises of government and credit bonds, derivative instruments for hedging operations and structured products. Long-term portfolios are diversified in four asset classes: SSA, Covered Bond, Financials and Corporates with the purpose to build a better balance of return and volatility. Additionally, somewhat over EUR 10 billion of 3rd party mandated portfolios also require monitoring and management. Finally, following ALM desk requests, EUR 0.8 m are bought-and-hold in the Long Term Hedge Portfolio.
You will closely cooperate with the other division members, and other Treasury staff including Liquidity management. You will also have regular contacts with other Directorates in the Bank like RM, IA, IT, FI/PRO, in particular the BOT and FI/SPBS. Externally, you will develop relationship with other European public institutions, central banks and international financing institutions.
Accountabilities
- Contribute to the development of the strategy and the formulation of policies for own domain by proving management and portfolio managers with regular reporting, analysis, etc.
- Propose new initiatives and projects in own specific domain.
- Implement policies for your domain and guarantee that the qualitative and quantitative objectives are realised:
- By providing sound transversal market analysis to the division for the asset management of the EIB or third parties.
- By providing advice on market opportunity to the portfolios managers to identify common assets that are liquid and could be sold and continuous improvement in relation to PM processes and procedures closely linked with RM, IT, FI Middle and Back Offices. - Propose improvement and implement processes, procedures, tools, etc. for dedicated domain (e.g. contribute to the optimisation of the Information system used in the activity of the division)
- Participate proactively to the implementation of specific initiatives in a specific domain of Liquidity Management.
Qualifications
- University degree in finance with focus on derivatives, credit and quantitative methods
- Ideally Postgraduate or Professional Qualification CFA, FRM, CAIA (PM)
- At least 3 years professional experience gained in a portfolio management environment (public sector experience advantageous) (PM)
- Deep understanding of how financial markets function
- Understanding of key financial principles used for valuing financial instruments
- Good knowledge of the mathematics of financial instruments
- Knowledge and understanding of the Bank’s procedures in assigned domain
- Advanced knowledge in the use of Excel programming
- Knowledge of Front Office applications
- Fluent in English and a good command of French (*)
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 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 (*).
The level of functions in the job vacancy is only indicative and will be adjusted accordingly taking into account, among other things, the business need, as well as the selected candidate’s experience and expertise.
Deadline for applications: 25th of March 2019
(*) We particularly welcome applications from women and persons with disabilities.
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