The EIB, the European Union's bank, is seeking to recruit a (Senior) ALM Officer (*) at its headquarters in Luxembourg. This is a full time position at grade 5/6.
Panel interviews are anticipated for end June/early July 2020
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.
(*) internal benchmark role: (Senior) Officer Financial Risk Management
The Asset and Liability Management (ALM) Unit, within the Bank’s Risk Management Directorate, is mainly responsible for:
- the Bank’s ALM strategy
- the monthly computation of EIB’s Lending Rate Curve (“Blue Curve”)
- the performance of projections, simulations and stress tests of the Bank’s balance sheet
- the computation and reporting of the Bank’s Pricing Framework components as well as profitability (Fund Transfer Pricing) and cost coverage
- the projection and monitoring of the Bank’s statutory Gearing Ratio and S&P Leverage Ratio
- the calculation of the Bank’s funding needs as well as the Bank’s funding maturity profile recommendation
As a (Senior) Officer, reporting to the Head of the ALM Unit, you will:
- Manage the reporting on the contribution of each activity to the Bank’s Net Surplus using the Transfer pricing System; analyse the evolution of results; provide EIB Senior Management with explanations of the evolution of the key metrics, notably in ad hoc written notes
- Prepare and develop the business projections, analyses, stress tests and reports essential to the realisation of the Operational Planning (OP) exercise, the Group Capital Plan, the ALM strategy, and any other forward-looking simulation involving the financials of the Bank
- Lead the production of the ALM & Financial Risk section of the EIB’s Monthly Risk report, Outlook and Dashboard, and prepare explanations on the evolution of the reported metrics or on their deviations to the OP targets
- Perform projections, simulations, stress tests and analyses on the financials of the Bank (especially, but not limited to, net surplus, Risk Return on Equity, NII, funding, gearing, leverage, cost coverage etc.) to the benefit of the planning and/or risk reporting exercise
- Maintain and enhance the Transfer Pricing System following the evolution of the best practices, business changes or ad hoc requests
- Maintain and refine when necessary EIB’s lending rate curve (“Blue Curve”) monthly updates, as well as handle related reporting activities/processes
- Control the coherence and reliability of the databases used by the risk management tools of the Bank
You will also:
- Take an active role in/organise meetings on the above-mentioned topics, in order to facilitate the organisation of deliverables, to solve any problems, or to improve processes
- Contribute to the maintenance and update of the Financial Risk and ALM Guidelines and related procedures and methodologies, closely following latest market and best banking practice/regulation/accounting evolutions
- Implement process improvements, including the strengthening of 2nd Line of Defence functions and streamlining of reporting activities
- When needed, represent actively the Division in, and contribute in the form of expert analysis and impact assessment to, working groups and permanent committees (e.g. ALCO and sub-ALCOs).
- Ensure back-up of tasks in the other areas of activity of the Unit/Division as needed; proactively assist the Head of Division and Head of Unit in the relevant activities of the Division; provide guidance to more junior staff; respond to ad-hoc/non-recurrent/complex demands as requested
- Foster constructive working relationships both within RM on transversal topics (such as ICAAP and Stress Testing exercises lead by RM/REG) and beyond RM, in particular with the Finance Directorate (FI), on relevant cross Directorate topics
- University degree, preferably in a relevant subject. Post-graduate studies and/or relevant professional certifications would be an advantage
- Proven experience in Asset and Liability risk management, including hands-on exposure to ALM tools, processes and regulations
- High awareness of data quality issues
- In depth command of Excel and VBA (to value instruments and to improve/automate further reporting tools).
- Hands-on experience with programming languages such as C#, C++, SQL, Python, MatLab, Java and/or other related languages would be an advantage
- Excellent knowledge of English or French and a good command of the other (*). Knowledge of other European Union languages would be an advantage
In addition to the EIB core competencies you should also possess:
- Strong critical thinking skills and initiative to improve ALM efficiency and processes
- Demonstrated ability to produce written work (reports/notes/debriefings), and to communicate clearly and concisely in oral presentations, on technical matters
- Ability to work effectively in a high pressure, fast paced environment with multiple deadlines and competing priorities
(*) 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
(**) We particularly welcome applications from women and persons with disabilities.
Deadline for applications: 9th June 2020