The EIB, the European Union’s bank is seeking to recruit for its Finance Directorate (FI), Planning and Settlement of Operations Department (PRO), Cash and Collateral Network Services Division (CCNS), Central Collateral Management Unit (CCM) at its headquarters in Luxembourg, an (Associate) Collateral Management Officer*.

This is a full-time position at grade 4/5 for which the EIB offers a permanent contract.

*internal benchmark: Transaction Processing and Management Analyst/Officer

Panel interviews are anticipated for June 2023.

Purpose

Ensure collateral management validation & verification operations in alignment with the contractual conditions in order to mitigate EIB’s credit risk and to enable the EIB to quickly raise short-term funds against real-time inventory of all the EIB’s assets accepted in secured markets to cover the EIB’s current and potential future liquidity needs.

Operating Network

As (Associate) Collateral Management Officer (internally referred to as Transaction Processing and Management Analyst/Officer ), you will report to the Head of Unit. You will closely cooperate with all members of the Division, which is structured into three Units and will be in working contact with other departments of the Directorate. The Collateral Management Unit is responsible for the daily margining linked to our Repo, Loan and Swap activity. The unit is also responsible for the monitoring and processing of Corporate Actions linked to the Banks inventory of assets, including Collateral posted by our counterparts, as well as the processing of transactions and monitoring of settlements linked to our repo activity.

All payment and settlement orders pass through BOT, including secured transactions and Cash collateral payments handled by BOT/CCMU. These messages are subject to rigorous checks, using the 4-eyes principle, before they can be released. The SWIFT syntax and other key data like amount, value date, counterpart etc. are the focus of the controls.

Accountabilities

Configuration and management of collateral agreements

• Set – up collateral agreements and external baskets in the Collateral Management System

Collateral Margining

• Receive and process exposures and transfer
• Issue, receive and manage the margin calls, Substitution request and disputes
• Monitor the settlement status and life-cycle events of such instructions including cash collateral

Repo transaction processing

• Processing and settlement of Repo’s with EIB counterparts and centralized clearing parties.

Cooperation with External Collateral Agents

• Communication relating to exposures with external collateral agents and internal services
• Monitoring of margining activities executed by external collateral agents

Corporate Action processing

• Handling and processing of all Corporate Action events linked to portfolio’s managed by EIB
• Processing of coupon claims from counterparties linked to Collateral positions

SFTR and Collateral Reconciliation

• Reconciling reporting breaks linked to our Security Financing Transactions

Monitor Central Bank activity:

• Ensure all treasury activity and credit lines with the Luxembourgish central bank are fully collateralized
• Monitoring maturing bonds and ensure substitutions are executed in a timely manner

Participate in projects

• Participate in the definition and successful completion of complex transversal projects, including the coordination of both internal and external members involved within the project teams

Qualifications

• University Degree in a relevant field, preferably Finance, Accounting or Statistics
• At least 3 years of experience in a Back or Middle Office, notably in collateral processing. Experience in treasury will be considered an advantage
• Broad and in – depth knowledge of the financial sector in general and good treasury product and settlement knowledge in particular
• Good knowledge of secured operations and collateral management activities, including a good understanding of the different collateral master agreements (e.g. ISDA CSAs or GMRAs)
• The candidate should have understanding of income related Corporate Action Processing
• Experience with Back Office applications. Previous use of Apex Collateral and Wall Street Systems (WSS) would be an advantage
• In – depth knowledge of frequently used SWIFT message types (especially confirmation & settlement messages)
• Good command of all MS Office tools, in particular MS Excel
• Excellent knowledge of English and/or French (*), with a good command of the other. Knowledge of other EU languages would be an advantage.

Competencies

Find out more about EIB core competencies here

(*) Unless stated explicitly as a required qualification, a good command of French is not a pre-requisite for hire. As both English and French are however official working languages of the EIB, proficiency in both languages is a pre-requisite for your future career development. Any language clause in your contract must be fulfilled in order for you to be eligible for a promotion (either via the annual appraisal cycle or via an internal selection process). Proficiency is understood to mean the attainment of level 5 of the Inter Institutional language courses, corresponding to B1.2 of the Common European Framework of Reference for Languages (CEFRL). The Bank offers appropriate training support.

We are an equal opportunities employer, who believes that diversity is good for our people and our business. We encourage all suitably qualified and eligible candidates to apply regardless of their gender identity/expression, age, racial, ethnic and cultural background, religion and beliefs, sexual orientation/identity, disability or neurodiversity.

Applicants with specific needs are encouraged to request reasonable accommodations at any stage during the recruitment process. Please contact the EIB Recruitment team [email protected] who will ensure that your request is handled.

By applying for this position, you acknowledge the importance of maintaining the security and integrity of the Information of the EIB Group. In case of selection for the position you agree to comply with all measures (policies, controls, document classification and management) implemented by the EIB Group to prevent unauthorised disclosure of any information or any damage to the EIB Group reputation.

Deadline for applications: 27^th April 2023

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