European Investment Bank Job Recruitment For (Senior) Financial Monitoring Officer – Luxembourg

Deadline: Friday 1st July 2022

The EIB, the European Union’s bank is seeking to recruit for its Portfolio Management & Monitoring Directorate (PMM) – Counterparty Management Department (CM) – Public Sector Division (PS) – Public Sector Non-EU Neighboring Countries Unit (PSNEU-NC) at its headquarters in Luxembourg, a (Senior) Financial Monitoring Officer*. This is a full time position at grade 5/6.

The term of this contract will be 4 years.

Panel interviews are anticipated for end of June / beginning of July 2022.

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.

(*) Internally referred to as (Senior) Officer Financial Monitoring

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Purpose

As (Senior) Financial Monitoring Officer, you will carry out the regular financial and projects’ monitoring (from first disbursement) of a portfolio of signed EIB Pubic Sector operations in the Non-EU Neighboring countries. You will manage resolution of standard and complex post first disbursement events, including negotiation and implementation of solutions. You will be responsible of the relationships with counterparts and contribute to projects’ implementation and to the understanding of EIB’s exposure to on-going financial risks thereby ensuring the stability and solidity of the Bank’s portfolio of outstanding loans. You will monitor intensive care cases in order to protect the Bank’s financial interest and reputation. You will follow very closely the projects’ implementation, being, after the first disbursement, the project’s focal point.

Specific Post Environment

PMM monitors counterparts and financial contracts and acts on contractual events under its responsibility, as well as on distressed transactions in order to protect the EIB’s financial interest and reputation. The Directorate is responsible for the financial monitoring, event resolution, divestment and restructuring of (i) EU and non-EU debt counterparts, (ii) equity funds, equity-type and subordinated instruments after disbursement/investment or signature, as applicable and (iii) EU and non-EU private sector distressed transactions. PMM is also responsible for developing and updating Bank-wide Financial Monitoring guidelines.

PMM/CM/PS is the Division responsible for the management of Public Sector transaction across all countries. The Division is split into four geographical units i.e. two for the EU, and one for each of the Non-EU Neighboring Countries and Non-EU Global Partners countries.

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Operating Network

You will report to the Head of Unit for Non-EU Neighboring Countries (i.e. Maghreb, Mashreq, Non-EU Eastern Neighborhood), under the authority of the Head of Division. Internally, you will cooperate closely with other Directorates across the Bank, in particular with EIB Global, Projects, Legal, Finance and Credit Risk teams, and with the other Divisions in PMM. You will also have external contacts with counterparts, promoters, borrowers and/or primary guarantors (public enterprises or Ministries) as well as with co-lenders, sector experts and/or technical assistance consultants. The composition of the portfolio will ultimately depend on specific language skills and the specific needs of the Unit.

Accountabilities

•  Independently carry out, according to an agreed program, reviews of public sector counterparts and transaction contracts in the Non-EU Neighboring region, assess their credit standing as well as their contractual compliance.
•  To undertake credit counterpart reviews in line with the guidelines of the Bank.
•  Propose internal counterparts ratings.
•  Prepare and lead projects and counterpart contacts, visits, and financial reviews in coordination with relevant Bank Services (i.e. Projects Directorate (PJ) and the EIB local offices).
•  Monitor projects progress, through monitoring missions with colleagues from the Projects Directorate (mainly Engineers and Economists), and the fulfilment of borrowers/promoters’ contractual obligations, conditions and covenants, in line with internal approvals and procedures.
•  Prepare annual Project Monitoring Reports based on an established working program and deadlines.
•  Handle autonomously relations and represent the Bank vis-à-vis borrowers, promoters, guarantors, co-financiers, Governments and EU institutions, as required by the senior officer’s portfolio.
•  To the extent required, review disbursement conditions and the processing of disbursements (i.e. in case of specific contractual amendments and/or waivers) in coordination with the Disbursement Analyst.
•  Autonomously identify and negotiate, whenever required, resolution of post signature events: assess the situation, propose a solution/remedy/strategy to contractual breaches, prepare the necessary internal documentation, coordinate approval and participate in their implementation, working with colleagues in other EIB Directorates and with external co-financiers as appropriate.
•  Monitor and follow-up the repayment of the loans in the portfolio as they become due.
•  Collaborate and coordinate with colleagues in the Projects Directorate, Credit Risk, EIB Global, Legal, and other Directorates/Departments, as well as with other PMM Divisions.
•  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.
•  Ensure that the administrative procedures during the various stages of project implementation are respected.

Qualifications

•  University degree, preferably Finance, Economics, Law or in Business Administration, Civil Engineering, ideally supplemented by post-graduate studies and/or relevant training in Public Sector analysis.
•  5 years of relevant professional experience in financial and project analysis, ideally including a solid record of accomplishment in Public Sector loans, preferably outside Europe, with minimum 5 years of solid experience in either structuring, origination, negotiation, credit, and/or transaction monitoring.
•  The ability to handle and negotiate complex and/or sensitive event resolutions for public sector operations and to process waivers and amendments of contractual clauses.
•  Interest and experience of emerging markets would be a strong advantage.
•  Understanding of the EU institutional and political framework in which the Bank operates and of the EU External Objectives Policy supported by the Bank’s activity is key.
•  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 written and spoken English and French. Knowledge of other languages spoken in the regions covered by the Non-EU Neighboring Countries Unit, such as Arabic, would be a distinct advantage.

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Competencies

Find out more about EIB core competencies here

We are an equal opportunities employer, who believes that diversity is good for our people and our business. We encourage all suitably qualified and eligible candidates to apply regardless of their gender identity/expression, age, racial, ethnic and cultural background, religion and beliefs, sexual orientation/identity, disability or neurodiversity.

Applicants with specific needs are encouraged to request reasonable accommodations at any stage during the recruitment process. Please contact the EIB Recruitment team Jobs@eib.org who will ensure that your request is handled.

By applying for this position you acknowledge the importance of maintaining the security and integrity of the Information of the EIB Group. In case of selection for the position you agree to comply with all measures (policies, controls, document classification and management) implemented by the EIB Group to prevent unauthorized disclosure of any information or any damage to the EIB Group reputation.

Deadline for applications: 1^st July 2022

How to Apply:
Interested and qualified candidates should:
Click here to apply online