The focus in this role will be to identify, assess, monitor and follow-up compliance risk issues relating to the Bank’s activities, as second line of defence, according to Bank’s policies and procedures to meet policy/institutional and regulatory requirements. You will be responsible for ensuring that business controls are enforced and provide support and advice throughout the lifecycle of EIB transactions to mitigate business risk and maximise operational efficiency. You will be required to demonstrate assertiveness and diplomacy and gain the trust and confidence of client-facing operational colleagues to prepare them for receiving advice on operation/counterparty risk rating.
The EIB, the European Union's bank, is seeking to recruit for its Compliance Directorate (OCCO), Compliance Operations Division (OPS) at its headquarters in Luxembourg, a (Associate) Compliance Officer. This is a full time position at grade 4/5.
The term of this contract will be 4 years.
Panel interviews are anticipated for December.
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 key focus in this role will be to identify, assess, monitor and follow-up compliance risk issues relating to the Bank’s activities, as second line of defence, in line with the Bank’s policies and procedures in order to meet policy/institutional and regulatory requirements. In addition, you will be responsible for ensuring that business controls are enforced and provide support and expert advice throughout the lifecycle of EIB transactions to mitigate business risk and/or maximise operational efficiency/quality.
You will be required to demonstrate assertiveness and diplomacy as well as gain the trust and confidence of client-facing operational colleagues in order to prepare them for receiving all kinds of advice on operation/counterparty risk rating, be it positive or negative.
As the (Associate) Compliance Officer, internally referred to as ((Associate) Officer), you will report to the Head of Division and interact with colleagues both within the Compliance Directorate at large as well as in other Directorates, notably with our EIB client facing officers.
You will actively contribute to reviewing and handling compliance issues raised by the first line of defence regarding EIB counterparties in the context of proposed operations. Thus, you will have the opportunity to increase the compliance footprint in the second line of defence and be a champion of a sound compliance culture.
- Assess the compliance risk of EIB’s ongoing operations and existing counterparties with focus on AML-CFT and underlying procedures, flagging potential risks to the Bank’s reputation;
- Assess the compliance of operations with the Bank’s policies, rules and procedures in the areas of relevance for OCCO and in particular in relation with the Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) requirements.
- Review and handle compliance issues raised by the 1st line of defence regarding EIB counterparties in the context of ongoing operations, in order to flag or mitigate potential changes in risk;
- Assist the 1st line of defence, where necessary, to ensure close co-operation and effective communication in cases of escalated compliance issues;
- In cases of non-compliance or the identification of business risk, advise business area managers of potential measures for mitigation and/or internal control;
- Summarise integrity findings and AML-CFT relevant information for inclusion in opinions, including recommendations issued by the Compliance Directorate;
- Conduct the Integrity Due Diligence into new operations, collecting, centralising and managing all relevant information necessary for OCCO due diligence;
- Draft notes, opinions, recommendations and internal procedures in line with the Directorate’s processes and policies
- Contribute to the review, development and implementation of AML-CFT tools, policies and internal procedures with a view to improving and streamlining processes;
- Maintain constructive relationships with internal and external stakeholders and act as a liaison between frontline business and Compliance;
- Contribute to the Compliance Directorate’s communication and training efforts by helping designing and providing training to the Bank’s staff in the area of AML-CFT;
- Participate in Bank-wide initiatives or projects and inter-Directorate working groups which can go beyond the strict boundaries of own domain and that have a specific scope and timing, in order to ensure the realisation of the initiative within the set scope, time and budget;
- In general, address any compliance issue at the request of the Head of Compliance, the Director or the Head of Division.
- University degree preferably in economics, finance, law or political science;
- Minimum 3 years relevant professional experience in the EU AML-CFT regulatory environment, preferably in the banking sector;
- International experience will be considered an advantage;
- Ability to analyse large quantities of information in short periods of time;
- Practical approach and ability to understand the operational requirements and priorities;
- Good communication and writing skills; ability to convince others rather than resort to enforcement means;
- Good understanding of the EU institutional and political framework in which the Bank operates and of the Bank’s activities;
- Knowledge of both standard and compliance-related computer tools and proficiency in internet searches;
- Some knowledge of the EIB Group’s objectives and broad policies;
- Excellent knowledge of English and/or French(*), with a good knowledge of the other. (Knowledge of other EU languages would be an advantage).
Find out more about EIB core competencies here:
(*) 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 (*).
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: 20th November 2020
(*). We particularly welcome applications from women and persons with disabilities.