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The EIB, the European Union's bank, is seeking to recruit for its Risk Management Directorate (RM) - Financial Risk Department (FIN) - Derivatives Division (DER), Counterparty Credit Risk Unit (RKU) , at its headquarters in Luxembourg, a:
(Associate) Officer Financial Risk Management
This is a full-time position at grade 4/5
The term of this contract will be 4 years
Panel interviews are anticipated for end of June
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.
As the (Associate) Officer Financial Risk Management you will contribute to the risk management for derivatives transactions in line with EIB financial risk policies. You will do so by (a) implementing and monitoring counterparty credit risk measures, including Expected and Potential Future Exposures and regulatory exposure measures; (b) reporting counterparty credit risk limit use and availability; (c) computing internal credit, liquidity and funding charges for derivatives.
As the (Associate) Officer Financial Risk Management, you will report to the Head of the Derivatives Counterparty Credit Risk Unit. You will be working in close collaboration with the Head of the Derivatives Division and a team of Risk Officers.
Propose and implement changes in the derivatives risk management policies, processes, and procedures, following new regulations and industry standards
Implement and control internal and regulatory models for derivatives exposures
Report on risk positions, limit use and counterparty availability for new operations
Produce opinions on the impact of new transactions on novations and changes in ISDA/CSA documentation on the fair value, internal credit, liquidity and funding charges, and the risk profile
Represent the unit with other domains in the Bank (front and back office, legal services, and internal audit) in order to ensure that appropriate internal cooperation and controls are maintained
University degree, preferably in quantitative finance. Post-graduate studies and PRMIA or GARP certificates will be an advantage
At least 3 years professional experience acquired with a major derivatives dealer or user, with an extensive implication in derivatives counterparty credit risk management
Deep understanding of counterparty risk quantification and derivatives liquidity and funding aspects
Deep understanding of counterparty credit risk mitigation, including ISDA/CSA documentation
Experience in working with XVA adjustments (CVA, DVA, CollVA, FVA, KVA, AVA)
Knowledge of BCBS regulations, EBA standards and best banking practice in the field
Command of programming languages, especially C#, Visual Basic, and SQL
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 organizational 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 organization whose mission is to support Europe and is open to diversity, and to align her/his own behavior with the organization's needs and intrinsic values, acting with integrity in ways that promote the organization's mission, policies and rules.
(*) 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.