The European Investment Bank (EIB), the bank of the European Union, is current looking to recruit, for its Transaction Management and Restructuring Directorate (TMR) – Financial Institutions and Assignment of Rights Division (FIA), at its headquarters in Luxembourg a: Financial Monitoring Officer
The successful candidate will, under the supervision of the Head of Division/Head of Unit, carry out the regular monitoring of a portfolio of EIB banking counterparts, mainly through Financial Reviews of counterparts (borrower or guarantor, including assessment of Internal Ratings) and Contract Reviews (including check of compliance with contractual clauses), in order to contribute ensuring the stability and solidity of the EIB lending portfolio to banks.
Specific post Environment
TMR monitors counterparts and contracts and acts on contractual events under its responsibility, as well as on distressed transactions, to protect EIB’s financial interests and reputation. The Directorate is responsible for the financial monitoring and event resolution and restructuring of (i) EU and non-EU counterparts, (ii) EU and non-EU fully invested funds and equity as well as (iii) EU and non-EU private sector distressed transactions and (iv) non-EU projects.
The successful candidate will cooperate closely with other Directorates, Departments and Divisions across the Bank, in particular with the Operations, Legal and Risk Management Directorates, as well as with the other Divisions in TMR, notably Special Operations to which FIA transfers (or cooperates on) distressed cases. S/he will also have external contact notably with banking counterparts, rating agencies and sector experts.
The Division is organised in two Units of analysts: the Credit Review Unit (CRU) and the Contractual Monitoring Unit (CMU). While Financial Monitoring Officers in both Units are responsible for full monitoring of a defined portfolio of banking counterparts (mainly assessed on a geographical basis), the Units differ with regards to a number of horizontal tasks performed: CRU being mostly focused on subjects related to financial analysis and Internal Rating, while CMU on aspects related to contractual compliance and security monitoring. The successful candidate will be assigned to one of the two Units, also in function of the candidate’s profile.
Under the supervision of the assigned Head of Unit, the Financial Monitoring Officer is able to work on several tasks in parallel and within well-defined deadlines. S/he works on assigned portfolios of counterparts, the composition of which will also depend on specific language skills and/or knowledge of national banking sectors. The position will require the availability for some missions to banking clients in Europe, notably for credit due diligences and audits of the Assignment of Rights security.
Responsibilities will include, inter alia:
- Carry out, in autonomy and according to an agreed programme, Financial and Contractual Reviews of banks in order to assess the counterparts’ credit standing (with the proposal and attribution of appropriate Internal Ratings) and their compliance with outstanding contracts
- Promptly flag any non-compliance contractual event as well as any sign of credit deterioration of the counterparts, including for Watch-List purposes, and timely provide comments/updates as requested
- Understand and follow on-going developments in the financial sector and EIB banking counterparts in the assigned countries
- Provide input for the Division’s internal reports as well as for any ad-hoc information request from management
- Follow-up contractual events and propose solutions/remedies for the counterparts under TMR responsibility
- Collaborate and coordinate activities with the colleagues of the Special Operations Division on problem cases
- University degree in Business Administration, Finance or Economics, preferably supplemented by post-graduate studies and/or training in financial analysis
- At least 3 years’ professional experience in banking, finance or with rating agencies, or other professional experience relevant for the role
- Proven ability to analyse financial institutions
- Proven ability to understand key credit clauses in contractual documentation
- Understanding of the EU institutional and political framework in which the EIB operates
- Understanding of the EIB’s mission, policies, procedures, organisation and activities
- Excellent knowledge of the standard Microsoft Office tools (Excel, Word, Powerpoint, Outlook)
- Excellent knowledge of English and French. Knowledge of other European languages – Spanish in particular – would be considered as a strong advantage
Application deadline: 12 July 2015