The EIB, the European Union's bank is seeking to recruit for its Finance Directorate (FI) - Treasury Department (TRE) - Asset and Liability Management Division (GAP) at its headquarters in Luxembourg, a:
Analyst / Officer - Operational Asset and Liability Management
This is a full time position
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.
To contribute to the optimisation of the liquidity, funding and lending functions of the Bank, through the identification, analysis and hedging of potential risks resulting from operations and from residual market risk exposures.
The Officer will report to the Head of Division and will work as a member of a team of six professionals. in permanent collaboration with the six team members. She/he will have regular internal contact with the Bank's Back/Middle Office and Capital Markets teams as well as with Financial Risk, Legal, IT and Financial Control counterparts. Externally there will be contacts with EU and G10 financial & banking groups and other Supranational Institutions.
Specific post environment
The post is qualified as "sensitive" and submitted to a specific Code of Conduct. The work location is the dealing room i.e. an open space working environment.
- Execute standard hedging and debt-repurchase operations ensuring full compliance with the Bank's risk framework and accurate and swift input into the Bank's IT systems. In particular:
- Hedging of interest-rate basis, and other balance-sheet, risks through medium and long term ALM Swaps (IRS, CCS, Basis-Swaps); analysis of EIB’s risk profile, set up and execution of hedging operations in connection with the borrowing and lending activity of the Bank and in compliance with the strategy defined by the ALCO; simulation of the impact of ALM operations performed
- Buy Back activity – execution of EIB's Bonds repurchases on secondary markets
- Analysis and pricing of structured funding, complex market exposures and early repayments (incl. conversion options).
- Respond and provide solutions to enquiries from other front and back office roles to enable efficient completion of trading processes and positive customer feedback.
- Provide market risk analyses to support decision-making. Report on a regular basis on the results achieved.
- Implement policies and ensure that qualitative and quantitative objectives are achieved.
- Propose and implement improvements in key operational processes and procedures with a view to optimising the IT system used by the Division.
- Contribute to the formulation and internal communication of relevant strategies, policies and procedures.
- University degree, preferably in Economics, Finance or Mathematics, with focus on quantitative methods applicable to financial modelling and derivatives.
- At least 3 years of professional experience in relevant sectors of financial services industry, preferably in a front-office risk-management function.
- Practical experience in market risk management and hedging. Ability to conclude derivatives transactions structured or not, as well as executing repurchases of secondary market debt positions.
- Proficient knowledge and experience in using spread sheets in particular in order to value financial instruments. Good programming skills would be an advantage.
- Knowledge of
- How financial markets operate (money-market, fixed-income and derivatives).
- financial principles, models and derivatives valuation techniques i.e. methods applied to pricing and valuing instruments used in those markets (bonds, fixed vs floating rate products, swaps, basic options, etc.)
- ALM and risk-management policies and strategies as well as their implementation.
- IT processes and requirements in order to reliably record transactions.
- Excellent knowledge of written and spoken English and/or French(*) with a good knowledge of the other.. Knowledge of other EU languages would be an advantage.
- Commitment: Aligns behaviour with the interests of the EIB in a committed way and supports diversity policies.
- Teamwork and Communication: Takes a co-operative approach within the team, sharing knowledge and information. Seeks to promote harmony within the team and contribute to team processes.
- Reliability: Demonstrates a focus on achieving results and objectives. Meets commitments and takes responsibility for personal performance.
- Integrity: Maintains high standards of honesty and trustworthiness. Considers ethical implications of issues and decisions.
(*) 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 believe that Diversity is good for our people and our business. We promote and value diversity and inclusion among our staff and candidates; irrespective of their gender, age, nationality, race, culture, education and experience, religious beliefs, sexual orientation or disability