Opportunity

Group Chief Risk Officer

Boulevard konrad Adenauer, Luxembourg
Sidney Moss
Role managed by
Sidney Moss

About the European Investment Bank

The European Investment Bank (EIB) is the financing institution of the European Union. Created by the Treaty of Rome, its shareholders are the member states of the European Union, and its Board of Governors is composed of the finance ministers of these states. The EIB enjoys its own legal personality and financial autonomy within the community system.

The mission of the EIB is to contribute, by financing sound investment, to the policy objectives of the European Union, as laid down in its statutes and in the decisions of the European Council.

The EIB contributes towards the integration, balanced development and economic and social cohesion of the members of the European Union. To this end, it raises on the markets substantial volumes of funds that direct on the most favourable terms towards financing capital projects according with the objectives of the union. Outside the union, the EIB implements the financial components of agreements concluded under European development aid and cooperation policies.

The European Investment Bank targets four priority areas in support of growth and job creation: innovation and skills, SMEs, climate action and strategic infrastructure across the EU.

In November 2019, the Bank, increasingly known as “the climate bank,” launched an ambitious new climate strategy and energy lending policy:

  • The Bank will end all financing for fossil fuel energy projects from the end of 2021
  • Future financing will accelerate clean energy innovation, energy efficiency and renewables
  • EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030
  • EIB Group will align all financing activities with the goals of the Paris Agreement from the end of 2020.

    In November 2019, the Bank, increasingly known as “the climate bank,” launched an ambitious new climate strategy and energy lending policy:

  • The Bank will end all financing for fossil fuel energy projects from the end of 2021
  • Future financing will accelerate clean energy innovation, energy efficiency and renewables
  • EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030
  • EIB Group will align all financing activities with the goals of the Paris Agreement from the end of 2020.

To ensure maximum impact, the EIB lends to sound projects, combining EU funds with its loans and advising on technical and financial aspects.

The EIB is supporting Europe’s economic recovery by implementing the European Fund for Strategic Investments (EFSI). By the end of 2018, the EIB Group had approves EUR 70.4 billion in financing for EFSI and mobilised EUR 375.5 billion in investment.

The EIB’s activities around the world reflect EU external priorities. The EIB is active mainly in the pre-accession countries and eastern and southern neighbours. The EIB also operates in African, Caribbean and Pacific countries, Asia and Latin America, supporting local private sector development, social and economic infrastructure and climate action projects.

You can find further details on their website, www.eib.org.

For further information on EIB Group Risk Management, please see the Risk Management Charter: https://www.eib.org/en/publications/eib-group-risk-management-charter

Group Chief Risk Officer

The EIB Group consists of the European Investment Bank (EIB) and the European Investment Fund (EIF). The EIB is the lending arm of the European Union and the largest multilateral financial institution in the world. One of the largest providers of climate finance, the Bank also helps the economy, creates jobs, promotes equality and improves lives for EU citizens and for people in developing countries. The EIB is the majority shareholder of the EIF, the specialised institution of the European Union, providing venture capital and guarantee instruments for Small and Medium Sized Enterprises (SMEs), playing a crucial supporting role in delivering on EU objectives for SMEs.

As GCRO, you will lead and manage the development, and continuous improvement, of the Group’s Risk Governance programme. You will also ensure the correct functioning of the EIB Group’s second line of defence, to identify, assess and mitigate both current and emerging, credit, financial, regulatory, operational, and compliance risks arising in the realisation of the EIB Group’s mission and policy goals.

Reporting to the EIB Management Committee (MC) under the oversight of the relevant MC member in charge of risk and compliance, you will participate in all MC meetings relating to matters within your terms of reference. You will have access to the Risk Policy Committee of the Board of Directors, participating in its meetings and submitting written contributions, if required. You will also communicate with the Board of Directors and the Audit Committee on any matter in your field of attribution, as necessary.

You will have line management responsibility for the EIB Chief Risk Officer (CRO), and for the Group Chief Compliance Officer, who will issue compliance related opinions on individual operations to the involved governing bodies. You will chair the Group Risk Steering Panel composed of representatives of EIB Group risk and compliance functions, including the EIF CRO, and the EIF will report to the EIB through you on EIB Group risk matters.

 

Duties and Responsibilities

The Group Chief Risk Officer will have the following key responsibilities:

  • Develop, maintain and improve the vision and strategy for EIB Group risk approach and policy, in conjunction with, and guided by, the EIB governing bodies and other senior management, and aligned with Best Banking Practices, to mitigate the risk taken by the EIB Group
  • Build a robust risk management framework by advising the relevant EIB governing bodies on the different components of the EIB Group Risk Management Framework (GRMF), and proposing improvements and amendments where appropriate, including to the Group Risk Management Charter
  • Guarantee a sufficient and appropriate second line of defence for all risk taking activities across the Bank
  • Raise awareness of EIB Group risk, foster an effective risk and compliance culture across the Group, and create commitment to the Group Risk Management Framework, in order that risk assessment and control are sufficiently robust and adequate to fully support the Group’s strategic goals and all of its risk-taking activities
  • Supervise and steer all EIB Group risks (both financial and non-financial) and ensure a consistent and effective implementation of the GRMF, and adherence to best banking practices, as related to risk management and applicable to the EIB on a consolidated basis
  • Report on the risk exposure of the Group as an independent body towards the Board of Directors, Management Committee, Audit Committee and Bank’s shareholders
  • Guarantee a harmonised approach to reporting on Group risks, in accordance with the GRMF
  • Ensure the identification, quantification, aggregation, monitoring, and reporting of risks at a consolidated level
  • Take responsibility for and lead the BCBS 239 Data Warehouse BBP project in relation to the aggregation and reporting of Group risk data
  • Control the development and implementation of the strategy and policies of compliance risks of the EIB Group
  • Establish, supervise and direct the required staff and non-staff resources in order to deliver the necessary risk assessment and control activities within the EIB Group
  • Ensure that Risk Management and Compliance staff have the right competencies, goals, skills and motivation allowing them to implement and execute the formulated strategy and policies while delivering results by encouraging a development culture in support of the business perspectives
  • Act as the interlocutor between the EIF CRO and the EIB Group for Group Risk matters
  • Guide, supervise and validate the provision independent technical risk opinions to the EIB (MC and Board of Directors) and EIF governing bodies

 

Required Competencies

Core competencies

  • Achievement Drive: continually keeps an eye on performance, focusing on improving it, showing drive and determination to meet short and long - term goals.
  • Change Orientation: Adapts to differences and changes in the environment; takes a flexible approach to reach outcomes.
  • Collaboration: Works cooperatively as part of a team; works collaboratively with peers across organisational boundaries based on a genuine interest in and an accurate understanding of others and their individual perspectives and concerns.
  • Organisational Commitment: Is willing to commit to an organisation whose mission is to support Europe and is open to diversity, and to align her/his own behaviour with the organisation’s needs and intrinsic values, acting with integrity in ways that promote the organisation’s mission, policies and rules.

 

Managerial competencies

  • Developing Others: Builds the long-term capability of others by guiding and developing them to make the most of their competence and potential, based on an accurate understanding of their true strengths and development needs.
  • Strategic Thinking: Thinks about the long-term organisation strategy and how to align to and implement it; comes up with useful new strategic insights.
  • Team Leadership: Builds a high performing team, ensuring it is focused, motivated and inspired to achieve organisational objectives, encouraging.

 

 

Qualifications and Experience

  • University degree (Master’s working and thinking level), preferably in Economics, Business or Finance
  • Minimum 15 years of relevant professional experience in banking (preferably in more than one business area) with extensive knowledge of risk management activities and practices, regulatory requirements, financial markets and products
  • Minimum 10 years in a managerial position, including at least 5 years’ experience heading a risk management function in a large banking institution or another comparable international or national public financial institution. Prior experience in or exposure to managing a compliance function would be an asset
  • Highly developed risk management and analytical skills. Deep knowledge of risk analysis, database management, risk metrics, and capital management. Very good knowledge of internal control frameworks
  • Experience working in an international environment would be an advantage
  • Experience working for a public multilateral financial institution would be an advantage
  • Understanding and knowledge of the EIB Group objectives, strategies, policies and processes or capability to acquire this
  • Critical thinking and clarity of vision, sensitivity to business and political issues and sound judgement
  • Creativity, openness to innovation and ability to support and manage change
  • Excellent communication skills, both written and verbal, and public speaking skills
  • Excellent knowledge of English and/or French and good command of the other language (*) Knowledge of other European Union languages would be an advantage

(*) 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.

The EIB is an equal opportunity employer, who believes that diversity is good for our people and our business. As such, EIB promotes 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 (**).

(**) The EIB particularly welcomes applications from women and persons with disabilities.

 

 

Terms of Appointment

This is a full-time position at grade 8/9.

The appointment is for a term of up to five 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.

 

 

How to Apply

If you wish to be considered for this position, please forward a copy of your CV and a supporting letter in Microsoft Word format, along with any relevant documentation to  Sidney Moss at [email protected] or use the Application Form below on or before 24 January, 2020.  All information will be in the strictest confidence as we pride ourselves on our professional service.  We will revert to you as soon as feasible when we have reviewed your application.

EIB is dedicated towards having a diverse and inclusive workforce environment and providing equal opportunities for everyone. We highly encourage applications from qualified female candidates who are nationals of countries within the European Union.

SRI Executive is exclusively retained by the EIB to undertake this assignment.

Application form