This position is based at our Luxembourg headquarters and requires regular office presence. The EIB offers you the opportunity to live and work in a truly international and multi-cultural environment. We also offer relocation support.

The EIB, the European Union’s bank, is seeking to recruit for its Management Committee (MC), Internal Audit Department (IA), Internal Audit EIF & IT Division (EIF&IT), Internal Audit EIF Unit (IA-EIF) at its headquarters in Luxembourg, a (Senior) Internal Auditor*.

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

*internal benchmark: (Senior) Officer Internal Audit

Panel interviews are anticipated from mid-March 2024 onwards.

Purpose

Are you a good evaluator of risks and enjoy assessing complex business processes and products? Would you like to join the audit team of the EIB, the European Union’s bank to improve the effectiveness of the business-critical processes of the EIB Group? By joining, you can make a difference and have positive impact on the lives of EU citizens and communities around the world.

The EIB is one of the largest multilateral development banks in the world, active both inside and outside the EU, while the European Investment Fund (EIF) is Europe’s main provider of risk financing for small and medium sized enterprises (SMEs) and mid-caps and is a leading financial institution in the European Private Equity market. They together form the EIB Group.

The Internal Audit Department is responsible for the audits of both the EIB and EIF. It is composed of two Divisions and five Units. One division covers the activities of the EIF and Information Technology (IT) across the EIB Group, whereas the other covers the business activities of the EIB.

In order to complement its team, Internal Audit is looking for a (Senior) Internal Auditor, to join the EIF Unit, part of the IA EIF&IT Division. The main focus of the role will be to carry out audits within the EIB Group, covering both 1^st and 2^nd line activities, in particular those of the EIF. You will define, plan, and execute audits and related reporting to complete the EIB Group Audit Plan.

The role requires excellent communication and influencing skills with the ability to convince management of audit viewpoints and an excellent ability to interact with different levels of hierarchy. You will gain an in-depth understanding of the processes, policies and procedures of the Group and acquire wide ranging and critically important skills. Internal Audit is a highly visible position and comes with significant access to Senior Management.

Operating Network

The diverse and agile Internal Audit team consists of individuals with a wide range of professional backgrounds, diverse cultures, perspectives, skills and experiences, adhering to guiding principles of teamwork, strong professional ethics and high commitment to the strategic objectives of the Group.

Whilst staff members are allocated to individual Units, the Department functions as a pool of resources that can be allocated to specific assignments across the Group.

You will report to the Head of the EIF Unit within the EIF&IT Internal Audit Division and will work in collaboration with other IA staff as well as other services across the Group. An important aspect of the role is to drive efficiency and add value, with a continuous focus on improvement in the Department.

IA seeks to empower each individual and look for individuals who can work independently within the team, identify risks and improvement areas in processes, understand the complex activities of the EIB Group and challenge the status quo in accordance with best practice standards.

Accountabilities

• Plan, conduct and deliver audits, in line with the Audit Plan, by (i) providing independent assessment of the governance, processes, and the design and operating effectiveness of internal controls; (ii) executing audit procedures and documenting them in IA’s audit software; and (iii) preparing the audit report on the findings and Agreed Action Plans (AAPs) for corrective actions, and/or improvements;
• Follow-up on AAPs in order to verify that corrective action were effectively undertaken;
• Keep abreast and follow the latest developments in the internal audit function and stay informed of current economic developments, emerging risks, applicable regulations and business knowledge, in particular relevant to the EIF’s activities;
• Steer and monitor the activities of external consultants for audits performed under a co-sourcing agreement;
• Contribute to creating appropriate awareness in the organisation on the importance of operational and financial risk assessment;
• Develop, improve and implement Internal Audit processes, procedures, IT systems, methodologies and working tools, to support risk management and internal control activities;
• Contribute to the IA risk assessment of the audit universe, on an on-going basis;
• Participate to management meetings, including the Audit Committee (EIB) / Audit Board (EIF) and other relevant committees;
• Develop constructive relationship with other directorates and represent IA as appropriate.

Qualifications

• University degree (minimum an equivalent to a Bachelor) preferably in economics or business administration or a related field with relevant exposure to Banking, Finance, Compliance, or Risk Management;
• At least 5 years of relevant experience in the financial sector, including internal and/or external audit.
• Exposure to Private Equity / Fund Management / Securitisation would be considered a significant advantage
• Good general knowledge of banking and financial markets (i.e., Fund industry) regulated environments is preferred;
• Understanding of Internal Audit’s role, and preferably acquaintance with general audit methodologies and Internal Control Frameworks;
• Professional qualification such as Chartered Accountant, Certified Internal Auditor, Chartered Financial Analyst or equivalent (candidates not having a professional internal audit qualification will be expected to study for one during the initial years of service);
• Excellent problem solving, communication and influencing skills: ability to convince management of audit viewpoints – excellent ability to interact at different levels of hierarchy;
• Knowledge of audit computer tools and / or data analytics would be an advantage;
• Excellent knowledge of English with fluent English report writing skills and a good command of French (*). Working 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: 23^rd February 2024

#LI-POST