The EIB, the European Union's bank, is seeking to recruit for its Management Committee (MC) The President’s Office - Internal Audit Department (IA) – Internal Audit EIB Division, at its headquarters in Luxembourg, a:
(Senior) Internal Auditor
This is a full-time position at grade 5/6
The term of this contract will be 4 years;
Panel interviews are anticipated for beginning of JULY 2019.
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.
Purpose
Internal Audit (IA) is a vital component of the management of the Bank. It helps the Bank by providing independent assurances and by identifying how the Bank can be more efficient. IA is an independent, objective assurance and advisory activity designed to add value and improve the Bank’s operations. It helps management accomplish its objectives by bringing a systematic, disciplined approach to assess and improve the effectiveness of governance, risk management, and internal control.
As a (Senior) Internal Auditor, you will contribute to the execution of IA’s annual audit plans for the EIB Group; perform an assigned audit programme, by understanding the audit subject at a conceptual and practical level, by producing concise, balanced and constructive audit reports with a high quality of English and by achieving agreed action plans. You will need to ensure all audits respect professional standards and bring added value by evaluating controls, challenging processes and being a catalyst for improvement. Furthermore, you will assist in IA’s quarterly follow-up exercises by performing evaluation of outstanding Agreed Action Plans.
Due to the Group-wide nature of the audit coverage Internal Audit is looking for candidates with specialist know-how in at least one of the following areas: (a) Banking regulation, (b) Financial Risk Management – Bank Treasury and Capital Markets activity, (c) Credit Risk Management – Lending Activity.
Operating Network
The Internal Audit Department is responsible for internal audit services in both the EIB and EIF. It is composed of two Divisions; one covers the functions of the EIB whereas the second covers the activities of the EIF and Information Technology across both EIB and EIF. Whilst staff members are allocated to one Division, the Department functions as a pool of resources that can be allocated to specific assignments across the Group.
You will report to the Head of Division in Internal Audit and will have regular contact with colleagues in the Department, other services throughout the Group as well as with external auditors.
Accountabilities
- End to end responsibility to plan and conduct audit missions, provide independent appraisal, report on the findings and Agreed Action Plans for corrective action and/or improvements (as part of a team of IA personnel)
- Follow-up audit recommendations in order to verify that corrective action are undertaken
- Keep abreast and follow latest developments in the internal audit function
- Steer and monitor the activities of external consultants for audits performed under a co-sourcing agreement
- Contribute to creating appropriate awareness in the organisation on the importance of operational and financial risk assessment
- Support the strategy and policy development for the Internal audit function to ensure that the overall system of internal controls of the EIB is based upon practical needs and constraints of the organisation.
- Develop, improve and implement Internal Audit processes, procedures, IT systems, methodologies and working tools for conducting risk management and internal control activities
- Participate to senior management meetings, including the Audit Committee (EIB) / Audit Board (EIF)
Qualifications
- At least 8 years of relevant work experience preferably in an external or internal audit function, in a risk or control function, in a supervisory authority, or a rating agency
- University degree preferably in economics or business administration or a related field with relevant exposure to Banking / Finance / Risk Management
-
Strong general knowledge of banking in a regulated environment with areas of relevant specialist expertise in one or more of the following:
- Banking Regulation
- Financial Risk Management – Bank Treasury and Capital Markets activity
- Credit Risk Management – Lending Activity
- Professional qualification such as Chartered Accountant, Certified Internal Auditor, Chartered Financial Analyst or equivalent is highly preferred (candidates not having a professional qualification will be expected to study for one during the initial years of service)
- Excellent communication and influencing skills: ability to convince the Bank services of audit viewpoints with an excellent ability to interact at different levels of hierarchy
- Proven track record of rigorous analytical work
- Problem solving attitude
- Knowledge of audit computer tools or data analytics / Business Objects would be an advantage
- Excellent written and spoken of English and/or French(*), with a good knowledge of the other. (Knowledge of other EU languages 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 (*).
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: 4th June 2019
(*). We particularly welcome applications from women and persons with disabilities.
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