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 Portfolio Management & Monitoring Directorate (PMM) – Joint Middle Office (JMO) – Disbursements Division (DISB) – Disbursements 3 Unit (DISB3) a (Associate) Disbursement Officer*.

This is a full time position at grade 4/5 for which the EIB offers a permanent contract.

*internal benchmark: (Associate) Officer Financing Operations

Panel interviews are anticipated for April 2024.

Purpose

As a Disbursement Officer you will coordinate the work of more junior colleagues managing the disbursement related activities of the geographical area either under our Operations (OPS), Global (GLO) or Portfolio Management and Monitoring (PMM) divisions responsibility. Execute disbursement activities relating to loans, equity, Project Finance and/or Investment Grants, including preparation of indicative and firm quote requests, preparation and signing disbursement offers, handling revisions/conversions and reviewing and validating the CPs for disbursement. Thereby ensuring the support to the client facing departments to achieve their yearly disbursement objective (COP) and 1st Line of Defence controls pertaining to disbursements.

Operating Network

The Joint Middle Office (JMO) sits between the Operations (OPS), EIB Global (GLO) and Portfolio Monitoring and Management (PMM) Directorates. The Disbursement Division is responsible for all Disbursement Middle Office activities, EU and Non-EU, and provides services to OPS, GLO and PMM. You will cooperate closely with Client Facing Officers in OPS, GLO and PMM, as well as with colleagues in other Directorates in order to contribute to the efficiency, effectiveness and performance of disbursement functions and associated controls. You will also have contacts with external promoters and borrowers.

Accountabilities

Leadership role within the disbursement team for a specific geographical/sectorial area and reviews of existing processes to contribute to the successful digitalisation of the disbursement process:

• Coordinate and manage the upcoming disbursement related activities in the team dedicated to a specific geographical/sectorial area and ensure overall quality of the processes within the team and for the external stakeholders (EIB clients);
• Provide guidance, support and training to members of the disbursement team and ensure on-boarding of new team members;
• Identify necessary improvements of the existing processes and procedures as well as IT tools of the JMO Disbursement team;
• Flag business issues to the Head of Unit (HoU) or the Head of Division (HoD) if and when they arise, in particular, any issues of increased operational risk and work out potential solutions;
• Follow closely any developments regarding modulation guidelines and loan pricing; ensure that the rules are applied correctly in line with the modulation framework and pricing policy of the Bank; and coordinate the split responsibility for the disbursement related activity between OPS/GLO and PMM.

Control on the different steps of the disbursement process and ensure the correct execution of disbursement related activities:

• Perform 4-eyes checks and quality controls on the RaSA quotations, offer letters sent to the borrowers, and Condition Precedents’ documentation;
• Sign Offer Letters; validate CPs for the ok to disburse and NOW instructions;
• Manage all non-standard operations; supervising more junior team members in all steps of the process;
• Guide more junior team members in order to ensure timely, efficient and error free execution of disbursements, revisions and conversions;
• Cooperate closely with OPS, GLO and PMM colleagues in charge of the relevant projects, as well as with other EIB services and keep up with a good communication and information flow and participate in meetings linked to the preparation of disbursement related activities;
• Interface with borrowers and/or intermediary institutions to ensure the receipt of mandatory information needed for disbursement purposes or otherwise required in the Finance Contract; support team members in finding adequate solutions
• Execute disbursement related activities and contribute to the smooth functioning of the disbursement team.

Provide support to the management to increase the value added of the JMO activities:

• Represent the JMO disbursement team in working groups and participate in horizontal projects to improve the existing processes and foster implementation of new products;
• Support the HoU and team members in addressing specific internal or external operational issues;
• Contribute to the regular managerial reporting;
• Review contracts or amendments at signature to ensure the feasibility of Conditions Precedent in the Finance Contracts (upon request).

Qualifications

• University degree (minimum an equivalent to a Bachelor) preferably in Finance, Economics or Business Administration.
• Minimum of 3 years working experience in the banking or financial sector; experience in managing disbursement process and /or related controls would be an advantage.
• Knowledge of legal documentation (loan/equity) and basic knowledge of financial markets.
• Good knowledge of the EIB project cycle, the EIB processes and procedures related to the administration, control and monitoring of lending operations would be an advantage
• Knowledge of the administrative, financial and legal aspects governing the Bank’s operations.
• Proficiency in MS Office Tools in particular Excel, knowledge of IT applications supporting lending would be an advantage as well as exposure to statistical and database query software and/or languages (Business Objects, etc.)
• Excellent knowledge of English and/or French**, with a good command of the other. Good knowledge of another EU language(s) in particular Spanish, 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: 1st March 2024

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