The EIB, the European Union’s bank, is seeking to recruit for its Transaction Management and Restructuring Directorate (TMR) – Counterpart Monitoring Department (CM) – Public Sector Division (PS) at its headquarters in Luxembourg a:
(Junior) Transaction Management Officer – Public Sector Monitoring
This is a full-time position at grade 4/5
The term of this contract will be 1 year
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.
The successful candidate will carry out a regular financial monitoring (from signature) of a portfolio of signed EIB Public Sector operations, mainly through financial and contractual reviews of counterparts (in their capacity as borrowers or guarantors), on an annual basis, in order to contribute to an understanding of EIB’s exposure to on-going risks; manage event resolutions for standard and complex post signature events, thereby ensuring the stability and solidity of the Bank’s portfolio of outstanding loans.
Specific post Environment
TMR monitors counterparts and contracts and acts on contractual events under its responsibility, as well as on distressed transactions, to protect the EIB’s financial interest and reputation. The Directorate is responsible for the Financial Monitoring, 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.
TMR is also responsible for developing and updating Bank -wide Financial Monitoring guidelines.
TMR/CM/PS covers all Public Sector operations in the Bank’s loan portfolio and is comprised of two Units ,covering EU operations and non-EU operations.
Under the supervision of the Head of PS Division and the Head of the PS Public Sector Europe Unit, the successful candidate will cooperate closely with other Directorates across the Bank, in particular with the Origination teams, with Legal, Finance and Credit Risk, and with the other Divisions in TMR, notably the Restructuring and Resolutions (RR) Division of the Transaction Management Department, to which distressed cases are transferred.
S/he will also have external contact with counterparts, other transaction stakeholders, co -lenders, rating agencies and sector experts.
The selected applicant will be expected to assume responsibilities for the following:
- Carry out, according to an agreed programme, reviews of mainly EU counterparts and contract monitoring, to assess the credit standing of Public Sector counterparts (Sub-Sovereign Public Authorities and Public Sector Entities) and their compliance with contracts
- Propose internal counterpart ratings
- Identify and negotiate, whenever required, resolution of post signature events
- Handle client contact, including organising and participating in financial monitoring visits
- Propose solutions/remedies to contractual breaches and participate in their implementation, working with colleagues in other EIB Directorates and with external co-financiers as appropriate
- Perform ad hoc reviews, as necessary, in response to external market activity
- Collaborate and coordinate activities with colleagues in Credit Risk, Origination, Legal, and other Directorates/Departments, as well as with other TMR divisions, notably TMR/TM/RR.
- Contribute to the Division’s regular reports, in particular Watch List reports
- Check and, when necessary, update, in a timely and accurate manner, the data related to own portfolio in the Bank’s IT systems
- Closely follow on -going developments in the relevant industry sector(s), and for specific EIB counterparts in the sector
- University degree, preferably in Business Administration, Law, Finance or Economics, and ideally supplemented by post -graduate studies.
- At least 3 years of relevant professional experience, including a solid track record in lending to the Public Sector (i.e. sub-sovereign public authorities and public sector entities), from a structuring, origination, negotiation, credit, transaction monitoring or legal background
- The ability to address waivers and amendments of contractual clauses
- Understanding of the EU institutional and political framework in which the Bank operates
- Knowledge of standard computer tools, particularly electronic document management systems
- Experience and advanced knowledge of Excel and/or other financial modelling systems and techniques, would be an advantage
- Excellent knowledge of English and French (*). Knowledge of other EU languages would be an asset.
- 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. Capacity to co-ordinate activities across multi-disciplinary teams
- Reliability: Demonstrates a focus on achieving results and objectives. Meets commitments and takes responsibility for personal performance. Capacity to plan, prioritise and organise his/her work, and ability to work under pressure
- Integrity: Maintains high standards of honesty and trustworthiness. Considers ethical implications of issues and decisions
- Aptitude to understand, anticipate issues in assigned transactions and provide sound judgement
- Strong communication skills, both verbal and written
- Aptitude to deliver reviews and notes under time pressure
- Negotiation skills
- Ability to maintain good contacts with borrowers
- Aptitude to work independently
- Capacity to plan and organise her/ his work
(*) 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
Deadline for applications: 30rd November 2016
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