The EIF, European Investment Fund, is seeking to recruit for EIF Risk Management, at its headquarters in Luxembourg, a
Department Head – Head of Compliance
Appointment will be made on the basis of a fixed term contract of three (3) years.
The Compliance Department is a permanent and independent function administratively located within EIF Risk Management. It addresses issues related to compliance and reputation risks and to data protection and privacy though two Divisions, the Transaction and Ethics Division and the Privacy Division.
The Head of Compliance will be responsible for the management and coordination of EIF Compliance. He/She will provide guidance and orientation for the Department and be responsible for the identification and monitoring of compliance risk in EIF, i.e. the risk of legal or regulatory sanctions, financial loss or loss of reputation EIF may suffer as a result of failure to comply with all applicable laws, regulations, codes of conduct and standards of good practice.
The Head of Compliance will be responsible for the co-operation with the Group Chief Compliance Officer in the context of the further alignment of the Policy and procedural frameworks of EIB and EIF within the overall Group Policy Framework and on the basis of the Memorandum of Understanding between EIB OCCO and EIF Compliance.
The Head of Compliance reports to the Head of EIF Risk Management. S/he has, in addition, a functional reporting line to the Chief Executive/Deputy Chief Executive and reports regularly to the EIF Audit Board. In line with the EIF Compliance Charter, s/he has also direct and discretionary access to the EIF Board of Directors; participates in the meetings of the EIF Board of Directors and reports in at least one private session to the EIF Board of Directors.
In line with the provisions of the EIF Compliance Charter, s/he acts in full independence from any administrative or business function within EIF. When pursuing his/her tasks in the exercise of his/her responsibilities, s/he is therefore not subject to any instructions from EIF bodies or management, including from the Head of EIF Risk Management, and acts in full independence from any EIF shareholder, stakeholder or promoter of any mandate under which EIF is operating. The Head of Compliance has, at his/her free discretion, unlimited access to EIF Management and governing bodies.
EIF Risk Management is composed of two Departments, the Compliance Department and the Financial and Corporate Risk Department. The Compliance Department comprises two Divisions, Transaction and Ethics and Privacy. The Financial and Corporate Risk Department comprises two Divisions, the Transaction and Portfolio Risk Division and the Corporate Risk Division. The successful candidate is expected to closely liaise with all other organizational entities within EIF Risk Management and the institution, with a view to contribute to a holistic picture of operational and corporate risks within EIF. S/he interacts with EIF Staff at all levels to provide advice and conduct the necessary investigations, and keeps contact with relevant external bodies, professional associations and other external experts.
The Head of Compliance also maintains close contacts and co-operates with the Group Chief Compliance Officer and other relevant services in EIB Group and with EIF stakeholders and services in other peer institutions, inside and outside EU.
• Establish and manage the long-term strategic vision for the Department within the institutional organisation and provide guidance on compliance risks and ethical matters to the services and to EIF Management and governing bodies;
• Oversee compliance risk controls and, in particular, on an annual basis, the implementation of the compliance surveillance program;
• Rule, where necessary, on the compliance of an individual’s actions with the EIB Group’s rules and codes of conduct;
• In conformity with the Basel Guidelines, manage compliance risk in the areas such as:
• The Codes of Conduct and staff guidelines;
• Compliance with EIF’s rules for internal procurement;
• Guidelines, procedures, etc. on money laundering, Fraud (Policy), terrorism, disclosure of financial interests, “whistle blowing”, etc;
• Compliance (to the extent applicable to the Group) with rules and guidelines issued by regulatory bodies (e.g. Sarbanes-Oxley, OFAC, etc);
• Perform adequate controls of all compliance risks in line with EU law and EIF policies, procedures and guidelines within the EIB Group Policy Framework;
• Maintain and develop reporting on all compliance risk issues;
• Ensure the efficient flow of relevant information to EIF Management and governing bodies and all relevant services and the Group Chief Compliance Officer in order to promote an efficient cooperation;
• Identify and implement new procedures;
• Resolve compliance difficulties as they arise and assist EIF services in the solution of problems falling within his/her remit and give advice in compliance-related questions of principle;
• Provide awareness-building events and ongoing training within EIF;
• Lead, motivate, develop and manage the staff under his/her supervision. Ensure that staff supervised has the adequate competencies, objectives and motivation in order to implement the formulated strategy and policies and deliver results. Encourage an effective cooperation among team members and EIF counterparts, as well as the sharing of knowledge, positive attitude and team spirit.
• University degree, preferably in law, finance, economics and/or business administration;
• Minimum ten (10) years of relevant work experience, of which ideally a significant part within EIB Group with strong emphasis on the areas of compliance;
• Good understanding of the mission and role of EIF, its business activities, processes and products and its position within EIB Group;
• Leadership skills with minimum five (5) years experience in managing a sizeable multicultural team and working in a team-oriented collaborative environment;
• Strong knowledge of issues related to the remit of the Department;
• Strategic and conceptual thinking, sound judgement, initiative, accuracy and rigor;
• Fluent in English, knowledge of other languages would be an advantage.
• Honesty, a high sense of integrity and fairness, tact and strict discretion in all matters relating to the function, trustworthiness and commitment to consider ethical implications of issues and decisions;
• Strategic thinking and clarity of vision to build and communicate a compelling perspective and strategy for the Department, which inspires and engages Staff;
• Proven leadership skills with a view to motivating Staff and delivering on ambitious targets within the policy framework of EIF and EIB Group, EIF’s strategy objectives and core values;
• Decisiveness with a focus on strategic dimensions and results, combined with a sense for diplomacy, consensus-building and co-operation;
• Preparedness to assume responsibilities and set priorities for allocated targets, demonstrating commitment and drive to deliver and achieve results;
• Proven skills in high-level relationship management, excellent negotiation skills and capacity to achieve buy-in from key stakeholders;
• Ability to embrace, manage and drive change and innovation by formulating proposals and encouraging others to embrace change;
• Solution oriented approach;
• Capacity to adapt to the rapidly evolving needs of EIF;
• Strong writing capabilities;
• Capability of working under pressure and within tight deadlines.
• Strong communication skills.
Should you require any further information, please contact directly
Martine Lepert, Head of Human and Resources Management
Deadline for applications: 28th June 2019
* The Selection Panel reserves the right to ask candidates to complete a Managerial Assessment with an external provider either before the panel interview or after, for which details would be provided in due course.
* Due to high volume of applications, only candidates selected for interviews will be contacted.