The EIB, the European Union's bank, is seeking to recruit for its Risk Management Directorate – Regulation and EIB Group Risk Department – EIB Group Internal Modelling Division – Model Maintenance & Monitoring Unit, at its headquarters in Luxembourg, an (Associate) Officer – Internal Credit Rating Model Maintenance and Monitoring (*). This is a full time position at grade 4/5.
(*) internal benchmark: (Associate) Credit Risk Management Officer
The Unit is in charge of performing 1st line of defence activities to ensure the robustness of the Bank’s rating systems and models (rating and/or PD models, LGD models, EAD/CCF models, both TtC and PiT). Such models are used, for instance, in regulatory and economic capital calculation, risk pricing, macroeconomic stress testing and IFRS9 impairment calculations, so that the EIB maintains full compliance with the CRR / CRD regulatory framework, Advanced IRB requirements, IFRS9 standards as well as various Basel Committee and European Banking Authority guidelines and recommendations.
As an (Associate) Officer in the team, you will perform modelling activities around the internal models for credit risk parameters in order to keep the Bank at the forefront of market and regulatory developments in quantitative risk modelling and credit risk assessment and comply with the requirements of a credit risk control function
Reporting to the Head of the MMU Unit, you will work in close collaboration with colleagues from across the Risk Management Directorate and with internal model users across the EIB and EIF. You will also have regular contact with internal/external auditors, and other internal control functions (such as the EIB Group Model Validation function)
Find out more about EIB core competencies https://www.eib.org/en/about/careers/careers-competencies/index.htm here
(*) 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 are an equal opportunity employer, who believes that diversity is good for our people and our business. As such, we promote the inclusion of suitably qualified and experienced staff without regard to their gender, age, racial or ethnic origin, religion or beliefs, sexual orientation/identity, or disability (*).
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 unauthorized disclosure of any information or any damage to the EIB Group reputation.
Deadline for applications: 26th September 2021. Panel interviews are anticipated for October 2021
The term of the contract will be 4 years. 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.