Head of Division (FI - TRES - ALM)

  • Competitive
  • Luxembourg
  • Contract, Full time
  • European Investment Bank
  • 15 Oct 18

This is a full time position at grade 7/C

The term of this contract will be 4 years

Assessment Centres for selected candidates would take place in 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.

Purpose

As Head of Division you will lead, coordinate and supervise the work of the Division in order to manage the EIB return on own funds within the approved risk framework and optimise the liquidity, funding and lending functions of EIB by

  • Actively managing the bank’s overall interest rate and currency risk profile in accordance with the approved ALM strategy,
  • Identifying, analysing and hedging market risks resulting from new operations or residual exposures,
  • Optimising the liquidity distribution by currency when managing the basis risk.

Operating Network

You will report to the Head of Department and will manage a team of approximately 7 employees. The work location is the dealing room, in an open-space working environment.

You will have frequent contacts with the other divisions of our Treasury Department, in particular Liquidity management (LM) and Financial Engineering & Advisory Services (FEAS). You will represent Operational ALM with other domains in the Finance, Risk Management and Financial Control Directorates/Departments to ensure appropriate internal cooperation and control is maintained.

Externally you will represent the EIB on Operational ALM issues and maintain and strengthen relationships with other EU institutions, supranational organisations, financial counterparts and professional associations.

Accountabilities

  • You will build a strategy and the policies to implement and optimise the objectives of the EIB overall asset and liability risk appetite while supporting the development of new lending instruments and balance sheet optimisation approaches.
  • Cooperate and coordinate work with all our Division Heads in the treasury, the capital markets, middle office department as well as with relevant counterparts in Risk Management, Financial Control and Information Technology to ensure consistent reporting and management of the market risks.
  • Supervise and review the interest rate and basis risk exposures and their respective measures and methodologies
  • Contribute in relevant committees, working groups and/or other projects or consultancies with a market risk focus (e.g. ALCO and sub-committees, New Product Committee, etc.)
  • You will establish (in cooperation with Department Head) and manage the resources and means to implement the strategy and policies defined at Bank/Directorate/Department level in the most effective and efficient way. More precisely, you will:
    • Propose and manage budgets including division relevant plans and projects
    • Build and maintain appropriate methodologies, processes, procedures within Operational ALM (e.g. market risk exposures, policies etc.)
    • Identify areas of improvement in own division and lead the implementation of the improvement plans
  • You will plan, organise, lead and control the activities of the division. Allocate responsibilities, set objectives and evaluate the performance of the division's staff. Ensure an effective cooperation among team members and other EIB staff, as well as the dissemination and cross fertilisation of information inside and outside the division
  • You will select, manage and supervise the staff within the division to ensure they have the right competencies, objectives and motivation so as to implement the formulated strategy and policies and deliver results
  • You will supervise and intervene in the execution of key area processes in Operational ALM whenever necessary to deliver maximum effectiveness in market risk for the EIB and ensure a consistent application of policies. Key processes include:
    • coordination of related hedging activity with FI/TRE/FEAS, market process modelling, pricing algorithms, hedging, interest and market risk policies, interest rate risk measurement, monitoring limits, derivatives, debt buy-backs, loan pricing, etc.
  • You will provide specific advice and recommendations on all issues related to market risk so that the EIB is aligned with standard methodology in own specific domain within Operational ALM.

 

Qualifications

  • University degree (Master’s and/or post-graduate) in a quantitative domain, e.g. finance with focus on derivatives and quantitative methods, Mathematics, Physics, Engineering or the like
  • 10 years’ professional experience in the financial sector, preferably in a front-office or risk-management function with exposure to fields such as derivatives, financial engineering, quantitative finance, risk modelling or any related subject
  • At least 3 years’ experience in managing and mentoring people ideally in multicultural environments or international organisations (e.g. contribution to: deciding on team resources and skills; establishing objectives; assessing performance; delegating and supervising tasks; guiding, motivating, mentoring and providing feedback)
  • Excellent knowledge of financial markets and common products
  • Extensive expertise in financial models and complex derivatives valuation techniques and issues.
  • Track record in hedging and Market Risk Management
  • Demonstrable track record in the development of strategy and management
  • Proficiency in computer applications: experience in programming and development of valuation models including risk assessment would be a plus
  • Deep understanding of the EIB’s mission and activities as well as the political and operating framework in which the bank operates
  • Fluent in English and/or French and good command of the other

Competencies

  • 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.
  • Developing Others: Builds the long-term capability of others by guiding and developing them to make the most of their competence and potential, based on an accurate understanding of their true strengths and development needs.
  • Strategic Thinking: Thinks about the long-term organisation strategy and how to align to and implement it; come up with useful new strategic insights.
  • Team Leadership: Builds a high performing team, ensuring it is focused, motivated and inspired to achieve organisational objectives, encouraging performance excellence and addressing underperformance when required.