The EIB, the European Union’s bank, is seeking to recruit for its Finance Directorate (FI), Strategy, Policies & Business Support Department (SPBS), Quantitative Implementation Unit (QI) at its headquarters in Luxembourg, a (Senior) Quantitative Financial Policy Officer*.

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 beginning of September 2023.

Purpose

As a (Senior) Quantitative Financial Policy Officer, you will design, develop, test, maintain and adjust a wide range of quantitative models related to derivatives valuation (as well as valuation adjustments) and asset and liability management topics / matters, in order to support the Finance Directorate (FI) perform its 1st line of defence activities.

Operating Network

You will report to the Head of Unit and will work in close collaboration with the other members of the Unit as well as of the Financial Policies and Methodologies (FPM) division and of the Operational Support and Monitoring (OSM) division. You will also frequently interact with colleagues working in Corporate Services (IT), Risk Management, Financial Control and Internal Audit.

Accountabilities

• Design, develop, test, document, maintain and adjust quantitative models supporting the activities of FI and the reinforcement of the 1st line of defence functions within FI, in line with industry standards, market practices and new regulations, on topics such as:
  • Derivatives valuation and valuation adjustments (so-called xVAs),
  • Assets & liability management (Interest Rate Risk in the Banking Book, including the measurement and management of the tenor and cross currency basis risk, FX positions, optionalities, as well as Fund Transfer Pricing).
• Participate to the validation of existing and new models, and address open validation and audit points.
• Consolidate the Department’s models and applications into a common technological environment.
• Represent the Unit in working groups and committees when requested, provide guidance to FI colleagues on technical and quantitative matters on the above-mentioned areas.
• Prepare opinions and/or technical briefing notes.

Qualifications

• University degree (minimum an equivalent to a Bachelor) preferably in quantitative areas such as Financial Engineering, Applied Mathematics, Physics, Computer Science, Applied Finance or Applied Statistics.
• Post-graduate studies in these subjects and professional qualifications, such as PRMIA or GARP for Risk Management or CQF for Quantitative Finance would be an advantage.
• At least 5 years of relevant professional experience acquired preferably in a reputable consultancy firm, a major financial institution, a central bank or a major international organisation.
• Relevant experience in the development, implementation and maintenance of quantitative models, acquired within a front office, middle office or risk management environment, with a focus on derivatives models (and related calculations) and/or ALM and Market Risk Management, (including for example e.g. yield curve modelling, BPV calculations, net interest income simulations, Fund Transfer Pricing).
• Excellent knowledge of programming and of one or several analytical software packages such as C#, C++, SQL, Python, and more generally, solid IT literacy.
• Good interpersonal skills and client oriented / service provider approach.
• Good organisational skills and capability to prioritise.
• Knowledge of the best banking practices and industry standards related to derivatives models and/or ALM and Market Risk Management is considered a plus
• Excellent knowledge of English and good command of French (*). Knowledge of another EU language 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: 28^th July 2023

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