The EIB, the European Union's bank, is seeking to recruit for its Risk Management Directorate – Regulation and EIB Group Risk Department – Capital Management Division – Capital Planning Unit, at its headquarters in Luxembourg, a (Senior) Risk Management Officer – Capital Planning.
The EIB, the European Union's bank, is seeking to recruit for its Risk Management Directorate
– Regulation and EIB Group Risk Department – Capital Management Division – Capital Planning Unit, at its headquarters in Luxembourg, a (Senior) Risk Management Officer – Capital Planning
. This is a full time position at grade 5/6.
The EIB is looking for talented professionals to join its Risk Management Directorate, Capital Management Division. Capital Management is responsible for safeguarding EIB Group’s capital sustainability and for ensuring that EIB’s capital is allocated in an efficient way, so as to enable the Group to achieve its mission to support EU objectives and policy goals. The Division is a core actor in the EIB Group business planning process, to which it contributes by projecting key capital metrics and leading forward-looking assessments of capital needs stemming from business planning and developments, new strategic initiatives, regulatory developments or modelling best practices. We are looking for committed professionals who will help us further enhance our capital management framework, develop our capital modelling and support our capital planning activities with the aim of ensuring that Capital Management continues to respond to the evolving needs of the EU Bank. The term of this contract will be 4 years.
Panel interviews are anticipated for mid March 2020 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
To drive the design, development, implementation and the maintenance of EIB’s capital planning framework in order to ensure capital sustainability and efficient capital allocation of the current and future EIB Group Operational Plans.
The Unit’s responsibilities are:
- Develop, implement and maintain the Capital Sustainability Framework, Risk Appetite Framework, Capital Contingency Plan and Recovery Plan
- Develop and maintain models and tools (e.g. projection models) to support the capital planning activities.
- Contribute to the ICAAP and to the Operational Plan process.
- Develop and maintain an appropriate capital allocation tool.
The position’s main focus is on developing and implementing capital consumption measurement on a projected basis, analysis and reporting (capital adequacy metrics, capital adequacy projections, implementation of changes in the regulatory framework, stress testing, simulations, compliance with best practice in risk management, etc.).
Reporting to the Head of Capital Planning Unit and working in close collaboration with colleagues of the Capital Management Division, you will also have regular contact with other colleagues within Risk Management and across other Directorates (e.g. front office lending, the finance/funding Directorate, IT, the Secretariat General, and our sister company, the European Investment Fund (EIF). You will also interact, on a case-by-case basis, with internal auditors, the Bank's Audit Committee, regulatory bodies, rating agencies, etc.
- Lead the ongoing design, development, implementation, management and maintenance of ElB Group's capital planning framework, with a focus on capital consumption measurement, projection, stress testing, analysis and reporting
- Assess the anticipated impact on the capital metrics of the EIB Group of regulatory or new business developments, new initiatives, methodological changes or new modelling best practices, in order to provide Senior Management with solid decision-making tools.
- Act as a point of contact for internal services with respect to queries related to the EIB’s capital consumption and capital metrics.
- Oversee the production of projections of capital metrics.
- In conjunction with the colleagues of the Division, develop, implement and maintain the Bank’s capital projection tools, both from technical and methodological perspectives.
- Review, analyse and report on the actual evolution of the capital metrics to the management and stakeholders.
- Contribute to the capital adequacy assessment and planning processes, risk appetite setting, limits definition, etc.
- Develop capital consumption simulations, projections, stress tests and other analyses.
- Lead and/or participate in projects and/or working groups and/or strategic initiatives of horizontal nature, and support activities related to capital planning.
- Ensure methodological and data consistency between various capital planning tools (regulatory capital, economic capital, rating agencies’ models). Contribute to the development of a holistic risk view.
- Ensure that adequate documentation of relevant methodologies, processes and tools is put in place.
- Contribute to the Bank's efforts to maintain compliance with applicable best banking practice in the area of capital management.
- Provide input to ad-hoc analyses and written communications on specific capital management matters to senior management or external bodies.
- University degree, preferably in a quantitative subject (e.g. Mathematics, Physics, Statistics), complemented by relevant exposure to finance or risk management, or in a financial field with a quantitative work experience. Post-graduate studies or relevant professional qualifications would be an advantage
- Significant relevant professional experience in (economic and/or regulatory) capital planning and management, capital requirements calculation, credit risk modelling or a similar role
- Knowledge of the regulatory framework and recent developments (e.g. Basel IV, EBA guidelines, BIS papers). Knowledge of rating agency scoring models would be an advantage.
- Familiarity with the main modern risk measurement methodologies and tools. Sound knowledge of credit portfolio tools would be considered an advantage
- Solid IT background and ability to work with large data sets (database querying, SQL)
- Proficient knowledge of MS Excel, and programming skills (e.g. SAS, Python)
- Strong presentational skills and proven ability to present complex technical topics to non-technical audience
- Excellent knowledge of English and/or French (*), with a good command of the other. Knowledge of other European Union languages would be an advantage
- 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.
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(*) 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 (**).
(**) We particularly welcome applications from women and persons with disabilities.
Deadline for applications: 23rd February 2020
Agency calls not appreciated.