Project Finance/Public Sector Transaction Management Officer recruitment
Appointment to the post will be made on the basis of a 3 year fixed term contract
The European Investment Bank (EIB) is the long term financing institution of the European Union, 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, thereby enabling the EIB to act on post-signature events and to protect its financial interests and reputation. The Project Finance and Public Sector Division (PFP) is responsible for the regular financial monitoring (from signature) of a portfolio of signed EIB Project Finance and/or Public Sector transactions, through Financial Reviews of counterparts (borrower or guarantor) and Contract Reviews (verification of contractual clauses and covenants), in order to contribute to an understanding of EIB exposure to risks and to identify breach or Contract Events. The Division identifies and resolves breaches of contract, and proposes event resolution for standard and complex 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 Transaction Management Officer 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 prior experience in the financial/credit analysis of Project Finance and/or Public Sector transactions and/or of the relevant contractual aspects, and may also depend on his/her language skills. 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 PFP 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
- Carry out, according to an agreed programme, financial reviews of counterparts and transactions, assess their ongoing credit standing, and propose internal counterpart ratings
- Monitor the related contracts, reviewing guarantees in place and checking compliance with clauses in the loan documentation
- Handle client contact, including organising and participating in monitoring visits
- Propose solutions/remedies to contractual breaches and participate in their negotiation and implementation, working with colleagues within other EIB Directorates and external co-financiers
- Perform ad hoc reviews, as necessary, in response to external market activity
- Contributeto the Division's regular reports, in particular Watch List reports
- Check and, when necessary, update in a timely and accurate manner the data related to own portfolio in the Bank's IT systems
- Closely follow on-going developments in the relevant industry sector(s), and specific EIB counterparts in the sector
Qualifications
- University degree, preferably in Business Administration, Law, Finance or Economics
- At least 3 years of relevant professional experience in banking, finance, law, or with a rating agency, including a proven track record in Project Finance and/or Public Sector loans, from a structuring, origination, credit or transaction monitoring background
- Solid credit risk skills, including financial and cash flow analysis and modeling
- Previous exposure to the assessment of contractual compliance for loan transactions, and the ability to address waivers and amendments of contractual clauses
- Understanding of the Bank's mission, policies, organisation and activities
- Exposure to Loan Grading/Rating methodologies would be preferred
- 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 and anticipate issues in assigned portfolio and to provide sound judgement
- Strong analysis and problem solving skills, including a quantitative analytical capability
- Strong communication skills, both verbal and written
- Ability to convince and command confidence
- Proven ability to maintain good contacts with borrowers and agent banks
- Ability to work independently and under time pressure
(*) 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.
Deadline for applications: 02nd August 2012
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.