The EIB, the European Union's bank, is seeking to recruit for its Directorate for Risk Management (RM), Credit Risk and Policy Department (CRD), Corporates Division (CORP), at its headquarters in Luxembourg, a:
(Senior) Credit Risk Officer for Corporates
This is a full time position
The term of this contract will be 4 years
This is full time position at grade 5/6
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.
The successful candidate will provide independent credit opinions on new standard and structured/leveraged/subordinated debt operations as well as on post signature events and restructuring proposals received from the front office and monitoring functions in the Bank. S/he will have responsibility for monitoring the credit quality of a highly diversified portfolio of corporate loans and counterparts, in accordance with the Bank's guidelines and procedures. The role also involves review of legal documentation and contributions to internal rating methodologies and credit risk policies and procedures.
S/he will report to the relevant Head of Unit and the Head of Division and will work in close cooperation with colleagues both in Risk Management and in other Directorates/Departments of the Bank, in particular Operations (Ops), Transaction Management & Restructuring Directorate (TMR), General Secretariat (SG), Legal Directorate (JU) and Projects (PJ).
Independently evaluate and monitor the credit risk associated with loans and guarantees in standard and structured/leveraged/subordinated operations with corporate counterparts, in line with guidelines and procedures for the department. This includes:
- Assessing credit risk, formulating independent opinions and recommendations on new debt operations, validating counterpart ratings and credit limits, and determining loan grading and risk pricing of these operations
- Extensively collaborating with other project team members (within TMR, Ops, JU and PJ), and providing advice and solutions to structure and mitigate credit risks in leveraged/structured/subordinated transactions
- From time to time, participating to appraisal missions when appropriate
- Reviewing legal documentation from a credit risk standpoint
- Proposing security/collateral requirements for new operations/transactions and coordinating any credit risk related contractual amendments pertaining to her/his allocated portfolio
- Reviewing and validating credit reviews performed by TMR
- Maintaining compliance with limits for counterparts, sectors and specific types of transactions
- Closely following/anticipating developments/trends in the sectors pertaining to her/his responsibility and proactively working through her/his portfolio
- Check the quality and correctness of credit risk related information/data input into various IT systems
- Deal with credit risk related enquiries from within the Bank and provide solutions
- Provide guidance to more junior staff in the execution of credit risk processes
- Contribute to developing and improving procedures, support and control systems, IT systems, methodologies and working tools
- Proactively advise and present recommendations on complex credit risk issues and related policy initiatives for credit risk management, aligning the EIB with best banking practices
- University degree at Masters level, ideally in Finance/Business or any related subject
- Recognised financial qualifications, such as the CFA, would be advantageous
- Minimum 5 years of relevant professional experience in corporate credit risk assessment gained from working in International Corporate Finance/Investment Banking and/or within a rating agency. The latter would be an advantage
- Relevant experience with structured operations including high-yield/sub-investment grade debt and/or subordinated/junior debt financing, and asset-backed operations.
- Strong expertise in financial analysis/modelling as well as in counterpart credit risk assessment of corporates in a variety of sectors (industrials, infrastructure and/or utility sectors) and various sizes. Experience of Mid-Caps credit risk assessment is required.
- In-depth experience of Rating Agencies' rating criteria and methodologies
- Knowledge of risk-pricing techniques, as well as corporate internal rating and recovery models is advantageous
- Proficiency in reviewing and commenting on loan documentation (including complex legal structures)
- Proven track record in credit risk policy development
- Excellent knowledge of English and a good command of French(*).
- 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.
(*) 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