The EIB, the European Union's bank, is seeking to recruit for its Finance Directorate (FI)- Planning and Settlement of Operations Department (PRO)– Back-Office Treasury Division (BOT)- Transaction Processing Unit (TP), at its headquarters in Luxembourg, a:
(Associate) Collateral Management 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 mid-June 2019
Purpose
Ensure collateral management validation & verification operations in alignment with the contractual conditions in order to mitigate EIB’s credit risk and to enable the EIB to quickly raise short-term funds against real-time inventory of all the EIB’s assets accepted in secured markets to cover the EIB’s current and potential future liquidity needs.
Operating network
As (Associate) Collateral Management Officer (internally referred to as (Associate) Transaction Processing and Management Officer), you will report to the Head of Unit. You will closely cooperate with all members of the Division, which is structured into two Units and will be in working contact with other departments of the Directorate.
Your post will be a part of the Transaction Processing Unit, which is responsible for the timely processing of all transactions. You will provide an initiative driven and intelligent intervention in case of anticipated or real problems which are key to ensuring a well-functioning and effective back-office. Coordination, communication and efficient procedures are the keystones that ensure the correct environment for staff to function well.
Accountabilities
Configuration and management of collateral agreements
- Set - up collateral agreements and external baskets in the Collateral Management System
- Support respective lines of business in negotiation of collateral agreements by providing comments relating to back office treasury
Configure internal lending agreements for collateral
- Collateral Margining
- Receive and process exposures and transfer
- Mark-to-market monitoring. Issue, receive and manage the margin calls
- Collect and process disputes, process and raise issues on fails
Cooperation with External Collateral Agents
- Communication relating to exposures with external collateral agents and internal services
- Monitoring of margining activities executed by external collateral agents
Securities and cash collateral monitoring:
- Plan and reconcile the cash collateral and securities collateral inventory; follow-up and resolve potential discrepancies, interest claims and payments
- Monitor the settlement status and life-cycle events of such instruction
- Receive, issue and process substitution requests
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Qualifications
- University Degree in a relevant field, preferably Finance, Accounting or Statistics
- At least 3 years in a Back or Middle Office in a financial institution, notably in treasury and collateral processing
- Broad and in - depth knowledge of the financial sector in general and good treasury product and settlement knowledge in particular
- Good knowledge of secured operations and collateral management activities, including a good understanding of the different collateral master agreements for pledge, swap collateral and repo transactions (e.g. ISDA CSAs or GMRAs)
- Understanding of income related Corporate Action Processing
- Experience with Back Office applications. Previous use of Apex Collateral and Finance Kit would be an advantage
- Deep knowledge of frequently used SWIFT message types (especially confirmation & settlement messages)
- Proficiency in all MS Office tools, in particular MS Excel
- Excellent knowledge of English and 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 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 (*).
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: 20th May 2019
(*). We particularly welcome applications from women and persons with disabilities.
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