Although ESM is not submitted to financial institutions’ regulations, its financial activities are similar to such institutions. ESM aims at being compliant with best market practices in terms of internal control and risk management.
ESM being a young institution, it is still developing new activities and enlarging the scope of its mandate to ensure the financial stability of Eurozone member States.
ESM has chosen a unique operating model with a mix of internalized and outsourced activities in the financial operations control and settlement domains. Financial operations control environment must be tailored accordingly.
The chosen candidate will be responsible for assisting the Head of division in its varied tasks and more specifically on the ones listed hereafter.
Position Objective:
To ensure that front office transactions are being adequately executed, controlled, processed and reported.
Key Accountabilities:
1. Daily production management
- In close collaboration with the team, make sure that daily production’s tasks aiming at timely and riskless settlement of all financial trades are performed according to deadlines and internal guidelines
- Help the team in resolving any issues they may encounter in their day-to-day tasks (contact of third party, supplier, …)
- Make sure that all control tasks are performed at the end of the day
- Replace team members, if need be
- Propose improvements to daily work organisation
2. Internal control
- Coordinate the Middle & Back Office internal control documentation (processes and working instructions) to keep in line with the evolution of the operating model and the implementation of new financial instruments
- Work in close cooperation with Project Managers and Senior Finance team officer dedicated to internal control for the Finance team
3. Third party suppliers oversight
- Keep a close control on third party suppliers to make sure that they comply with the requirements
- Organise regular meetings with them and give a yearly appraisal of their performance
- Review and update documentation exchanged with suppliers to make sure that it is up to date and complies with Operational risk’s expectations
- Define, update and monitor KPIs
4. Internal and external audits
- Be the contact point of the team for audit topics to make sure requests are handled timely and properly
- Coordinate with Senior Finance team officer on yearly internal plan
5. New projects
- For new projects or financial instruments, coordinate the Middle & Back office analytical work and the implementation plans in compliance with ESM operating model and objectives to outsource non key operating activities.
- Work in close coordination with designated Project Managers
- Make sure that deadlines are met and requirements comply with Project Managers’ expectations
- If need be, write business requirements
Deadline: 18/07/2014 23:59
Location: Luxembourg
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