Credit Analyst – Banks/FIs recruitment
The European Investment Bank (EIB) is the European Union's bank, investing in/lending to projects that further EU policy objectives. The EIB is based in Luxembourg, and is a self-financing and not-for-profit European Institution and bank.
We are launching a preliminary campaign in anticipation of a future vacancy in our Transaction Management and Restructuring Directorate (TMR) - Financial Institutions Assignments of Rights Division (FIA), for a:
Credit Analyst - Banks/FIs
Appointment on this post is for a fixed period of 2 years
The Transaction Management Restructuring Directorate (TMR) proactively follows the EIB loan book, post-signature, thereby enabling the EIB to act on post-signature events and to maintain the credit quality of its operations.The Financial Institutions Assignments of Rights Division (FIA) is responsible for the regular financial monitoring (from signature) of a portfolio of signed EIB bank and assignment of rights transactions, through Financial Reviews of counterparts (borrower or guarantor) and Contract Reviews (verification of covenants). The Division identifies and resolves breaches of contract, and proposes event resolution, for standard post signature events, to mitigate risk and ensure the stability and solidity of the Bank's portfolio of outstanding loans.
Operating Network
Under the supervision of the Head of Division/Head of Unit, the Credit Analyst will take responsibility for the monitoring of an assigned portfolio of EIB transactions. The exact composition of the portfolio will depend on the individual's experience in credit analysis of Financial Institutions, Assignment of Rights, Loan Substitutes and/or of the relevant credit and contractual aspects taking into account EIB rights. S/he will cooperate internally with the other Bank Directorates active in this field and also with colleagues within TMR, in particular with the Restructuring, Repackaging/Refinancing, and Funds Division (RRF)to which FIA transfers work-intensive post-signature events (heavy waivers, debt repackagings or restructurings) for implementation. S/he will also have external contact with counterparts, other transaction stakeholders, bank syndicate agents, co-lenders, rating agencies and sector experts.
Accountabilities
The successful applicant should be capable of working, from inception, on several operations in parallel, and able to work autonomously on several aspects of work within a short period of time.
- Carry out, according to an agreed programme, financial reviews of EU Financial Institutions counterparts and monitoring of respective contracts, to assess the credit standing of bank counterparts and their compliance with contracts
- Propose, if applicable, internal counterpart ratings
- Perform, where required, reviews of Loan Substitute transactions, and carry out due diligence on Multiple Assignments of Rights, flagging possible credit deteriorations, mainly based on external ratings and other information available to the Bank
- Follow on-going developments in the financial services industry and for EIB counterparts and transactions in the assigned portfolio and countries
- Review security, assignments, guarantees and any related documents
- Contribute to the Division's regular reports, flagging any Watch List cases for specific counterparts/transactions
- Ensure that assigned counterparts comply with EIB internal guidelines and procedures
Qualifications
- University degree, preferably in Business Administration, Law, Finance or Economics, and ideally supplemented by post-graduate studies and/or training in financial analysis
- At least 3 years of professional experience in banking, finance, law or with a rating agency
- Solid track record as a credit/financial analyst, with a sound understanding of credit risk assessment principles, counterpart rating criteria and key contractual clauses used in loan documentation, particularly for Financial Institutions
- Ability to assess contractual compliance and address waivers and amendments of contractual clauses
- Exposure tothe analysis and rating of Covered Bonds and knowledge of ABS structures would be an asset
- Understanding of the Bank's mission, policies, organisation and activities
- Proficiency with standard computer tools
- Very good knowledge of English and/or French and a good command of the other (*). Knowledge of the other EU languages used for EIB contracts (German, Italian, Portuguese and Spanish) would be an advantage
Competencies
- Ability to understand, anticipate and provide sound judgement on a variety of credit and legal issues
- Strong communication skills, both verbal and written
- Ability to convince and instil confidence
- Capacity to plan and organise her/his own work
- Aptitude to deliver precise financial reviews and notes under time pressure
- Strong analysis and problem solving skills, including quantitative analytical capability
- Ability to maintain good relations with counterparts
Deadline for applications: 07 July 2012
(*) There may be certain flexibility on this requirement, but limited to particularly suitable candidates who may not yet be proficient in one of the two languages. If selected, such candidates will be hired on the condition that they build up rapidly knowledge of the relevant language 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.