Transaction Processing and Management

il y a 2 semaines

Luxembourg, Luxembourg European Investment Bank Temps plein

_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 Finance Directorate (FI),
Planning and Settlement of Operations Department (PRO), Cash and Collateral Network Services Division (CCNS), Central Collateral Management Unit (CCM) at its headquarters in Luxembourg, an
(Associate) Transaction Processing and Management Officer.

This is a full-time temporary position at grade 4/5.

_ The term of this contract will be 6 months with an end date of 15th of December 2024__ ; as this is a temporary replacement assignment, no extension or conversion of the contract is foreseen._**- Panel interviews are anticipated for _May 2024_._

Purpose:


Ensure collateral management validation & verification operations in alignment with the contractual conditions to mitigate EIB's credit risk and to enable the EIB to quickly raise short-term funds against real-time inventory of all the EIB's assets accepted in secured markets to cover the EIB's current and potential future liquidity needs.


Operating Network:


As the Transactions Processing and Management Officer you will work in a team of 8 colleagues, who report directly to the Head of Unit.

There are three units within the CCNS division, with the respective Heads of Unit reporting directly to the Head of the CCNS Division.


The post is in the Central Collateral Management (CCM) unit, which is responsible for the daily margining linked to our Repo, Loan and Swap activity.

The unit is also responsible for the monitoring and processing of Corporate Actions, as well as the processing and monitoring of settlements linked to our Bilateral and Triparty repo business.


Given the volume of EIB's collateral operations, there is a risk of exposure to financial losses as well as to the reputation of the bank.

In case of settlement failures, overdraft costs can be significant.

The team works to rigorous deadlines, and as such, financial market deadlines must be respected requiring staff to work efficiently and accurately under time constraints.

The environment requires a very flexible time schedule as transaction settlements need to be ensured before cut-off time,

Internal contacts:
Permanent interaction within other teams in CCNS Division and Liquidity Management Division in Treasury. Frequent contact with other divisions in FI Directorate, IT Department and Risk Management Directorate.

External contacts:
Frequent contacts with custodians, collateral counterparties, and collateral agents.

Accountabilities:

  • Configuration of collateral agreements in the collateral system in order to ensure accuracy and eligibility of collateral and margin exchanges with collateral counterparts;
  • Ensure collateral margining activity is executed and processed in a timely manner, ensuring the Bank's exposure is sufficiently collateralized.
  • Ensure all treasury activity and credit lines with the Luxembourgish central bank are fully collateralized; monitoring maturing bonds and ensure substitutions are executed in a timely manner.
  • Monthly Interest processing: Run monthly interest cleanup on Repo and Swap cash collateral activity; communicate interest calculations to collateral counterparties; process agreed interest payments and investigate disputes when required.
  • Monitor collateral management activity outsourced to triparty agents to ensure sufficient collateral coverage is maintained.
  • Maintain communication channels with external agents to ensure all discrepancies are escalated and resolved in a timely manner.
  • Monitor collateral management activity outsourced to triparty agents to ensure sufficient collateral coverage is maintained.
  • Ensure daily reports are reconciled and communicated to the Trade Repository in a timely manner in order to meet SFTR regulatory requirements.
  • Daily reconciliation of our cash and securities positions to ensure accurate inventory in the banks systems are maintained.
  • Ensure Corporate Action Income events are processed in a timely manner in order to optimize full usage of the funds received under these events: monitor income amounts on Swift messages preadvised by custodians and investigate differences; process all Income events and monitor receipt of funds; liaise with front office to followup and instruct on nonIncome events.
  • Process all Corporate Action claims in order to ensure counterparts entitlements are met: identify coupon claims linked to collateral positions held under the Loan and Swap activity; ensure timely transfer of funds on to the collateral counterparty on Value Date

Qualifications:

  • University degree (minimum an equivalent to a Bachelor), preferably in a businessrelated field such as Economics, Finance, Accounting, etc.
  • 3 years o

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