(Junior) Financial Monitoring Officer – Banks 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.

The Transaction Management Restructuring Directorate (TMR) proactively follows the EIB loan book, post-signature, 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 Review of counterparts (borrower or guarantor) and Contract Review (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.

The Financial Monitoring Officer will report to the Head of FIA Division; cooperate closely with other teams across the Bank and the other Divisions in TMR, in particular with Repackaging, Refinancing, Restructuring 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 contacts with counterparts, other transaction stakeholders, bank syndicate agents, co-lenders, rating agencies and sector experts.

Accountabilities

The (Junior) Financial Monitoring Officer 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

S/he works on assigned complex portfolios of counterparts and transactions. The composition of the portfolio will depend on the person's experience in credit analysis of financial institutions, assignment of rights, loan substitutes and the relevant credit and contractual aspects taking into account the EIB rights

Responsibilities include:

• Carry out, according to an agreed programme, bank counterpart and contract reviews to assess the credit standing of bank counterparts and their compliance with contracts, proposing, if applicable, internal counterpart ratings; perform regular analyses of banks and, where required, loan substitute transactions, as well as 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

• Understanding and following on-going developments in the financial industry and EIB counterparts and transactions in the assigned countries

• Reviewing security, assignments, guarantees and any related documents

• Contributing to the Division’s regular reports, flagging any Watch List cases for specific counterparts/transactions

• Ensuring that assigned counterparts/transactions comply with the Bank’s Credit Policy Guidelines, Management Committee approvals and TMR procedures, liaising with the Credit Risk Department for any counterpart limit issues

Qualifications

• University degree in a business related subject, preferably supplemented by post-graduate studies and/or training in financial analysis

• At least 3 years’ professional experience in banking, finance or with rating agencies or other experience relevant for the role, notably credit; exposure to international financial markets and some experience in bank lending would be an advantage

• Ability to review finance contracts

• Proven track record in financial monitoring policy development is an advantage

• Understanding of the EU institutional and political framework in which the Bank operates

• Understanding of the EIB’s mission, policies, procedures, organisation and activities

• Knowledge of European financial institutions

• Knowledge of covered bonds and ABS structures is an advantage

• Experience with Assignments of Rights is desirable

• Proven ability to assess contractual compliance and address waivers and amendments of contractual clauses

• Fluent in English and/or French and a good understanding of the other. Knowledge of other EU languages would be an advantage

Competencies

• Ability to understand, anticipate and provide sound judgment on a variety of credit and legal issues

• Communication skills, both verbal and written

• Ability to convince and install confidence

• Capacity to plan and organize her/his work

• Aptitude to work independently and deliver precise reviews and notes under time pressure

• Analytical and problem solving skills

Deadline for applications: 27 November 2011


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