The EIB, the European Union’s bank is seeking to recruit for its Finance Directorate (FI), Capital Markets Department (CAP), Financial Markets Documentation Division (FIMA) at its headquarters in Luxembourg, a (Senior) Documentation Officer – ISDA Negotiator*.

This is a full-time position at grade 5/6 for which the EIB offers a permanent contract.

*internal benchmark: (Senior) Officer

Panel interviews are anticipated for August 2023.

Purpose

The purpose of the role is to drive the delivery of financial markets documentation and related processes required by the EIB in the capital markets and treasury domains, in line with overall EIB strategy and policies, with the aim to minimise operational risk, optimise operational execution of transactions, and improve the EIB’s position from a financial and reputational perspective (and in close cooperation with the Legal Directorate, from the legal perspective), thus ensuring that FI contributes to the achievement of the EIB’s objectives.

Operating Network

As a (Senior) Documentation Officer – ISDA Negotiator you will report to the Head of Division and work in close collaboration with all members of the Division. You will have permanent interactions with funding and treasury officers, and you will collaborate closely with other teams in FI and with other Directorates.

The Division supports the EIB’s funding and treasury activities and, in general, the activities of the Division can be divided into the following five categories:

1. Borrowings (short- and long-term): execution of bond documentation, update of existing borrowing programmes/standalone borrowing documentation/Commercial Paper Programme, execution of new GMRAs and amendments to existing GMRAs, update and management of the EIB Unitary Fund documentation.
2. Derivatives: execution of new/amendments to existing ISDA agreements/credit support annexes, execution of new/amendments to existing exchange traded futures agreements, oversight of swap documentation execution for swaps initiated by capital markets front office and swap restructurings initiated by treasury front office.
3. Corporate Actions: execution of documentation for all buy-back transactions and restructurings.
4. Regulatory and Compliance: among other things, following (and implementing in day-to-day work) all legal/regulatory developments and changes relevant to the EIB’s funding and treasury activities, and preparing and filing material information on the EIB with market authorities.
5. New Product Development and Complex/Bespoke Transactions/ Documentation/ Post-Settlement Actions: development of new borrowing programmes/standalone borrowing documentation, execution of new/amendment of existing portfolio management documentation and managing any other ad hoc post-settlement activities.

Accountabilities

1. Strategy / Policy Development and Implementation

Develop strategy and policy processes for capital markets and treasury domains to ensure that funding and treasury officers can effectively execute transactions while at the same time minimising operational risk for the EIB:

• Provide as a true expert insights and strategic input with regards to the short, medium and long term while cooperating closely with FI management, other departments in the EIB and external counterparties relevant for the domain.
• Deliver recommendations and propose new strategies to FI management and internal working groups (where needed, based on work in external working groups in which the EIB participates) to develop a robust capital markets and treasury documentation and related processes.
• Operational lead in evaluating changes in capital markets and treasury domains which affect the documentation and post-trade infrastructure and advise FI management accordingly to support the EIB’s positioning, as well as deliver opinions on inquiries from internal and external counterparties on capital markets and treasury documentation matters.
• Ensure and/or conduct research on capital markets and treasury documentation matters as well as legal and regulatory matters of significance to the EIB’s interests, in order to maximise knowledge in strategic matters and reduce operational risk in the Department.

2. Execution of Key Area Processes

• Act as a focal point for capital markets and treasury documentation, and related matters, both to guide management for critical decisions and meetings, and to ensure effective exchange of information in FI and with other departments of the EIB (and where relevant, with external counterparties); with independent action when beyond the realm of critical decisions.
• Prepare and, where appropriate, deliver briefing material and internal reports to FI management.
• Manage the existing (and develop new) tactical and operational relationships in the financial community, peer MDB’s, other EU institutions, supranational organisations, financial counterparts and professional associations in order to enhance and/or develop a robust position for the EIB in terms of capital markets and treasury documentation and related processes.
• Coordinate the work activities of team members on a project basis and provide functional coaching and support to less experienced colleagues.
• Deal with highly complex aspects of individual capital markets and treasury documentation matters to protect the EIB’s position, in particular from a financial and reputational perspective.
• Initiate new research based on historic data, major market developments or strategic choices made by the EIB.
• Actively contribute to and steer contribution of team to knowledge sharing within Division/Department and on cross Directorate basis.
• Execute with a complete degree of autonomy and initiative the most complex transactions, which require extensive planning, engineering and/or negotiation with several high-level stakeholders and expert knowhow of a broad range of financial products and solutions.

3. Special Projects / Working Groups

Represent the EIB in external working groups and/or other high-level negotiations with external parties in line with mandate given by Head of Division or Director.

Qualifications

• A university degree (minimum an equivalent to a Bachelor), preferably in a business-related field such as Law, Finance, Economics

• Additional relevant professional qualification would be an advantage (for example: CFA, bar admission, postgraduate studies in a relevant field such as derivatives).
• Minimum 5 years of relevant experience, of which at least 3 years in the field of derivatives documentation in a law firm or, preferably, as ISDA negotiator in a commercial bank. Experience with capital markets documentation, GMRAs and commercial paper programmes would be an advantage.
• Experience with regulatory matters relevant for EIB’s capital markets and/or treasury activities would be an advantage.
• Experience with the digitalisation efforts (e.g., blockchain) in the capital markets and/or treasury domains would be an advantage.
• Proficient knowledge of how financial markets function is required.
• Proficient knowledge of financial law and documentation (in relation to capital markets and treasury) is required.
• Knowledge of the EIB’s standard office tools (particularly Word and Excel) is required.
• Excellent knowledge of English and/or French (*) with a good knowledge of the other.

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: 30^th June 2023

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