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 Chief Financial Controller Directorate (CFC), Financial Reporting and Accounting Department (FRA), Group and Mandates Reporting Division (GMR), Group Accounting Unit (GA) at its headquarters in Luxembourg, an Associate Reporting and Accounting Officer*.

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

*Internal benchmark Associate Officer Financial Accounting

Panel interviews are anticipated for May/June.

Purpose

You will evaluate the introduction of new accounting regulations (EUGAAP, IFRS and other accounting standards used for the Bank) to formulate recommendations on their impact on the accounting policies and financial reports within the EIB Group. You will carry out the analytical review of sections of accounting and cooperate in the production of different financial reports in order to detect any anomaly/inaccuracy. You will also be a lead responsible point for the coordination with EIB’s external auditors including contractual aspects, organising engagement letters, representation letters and billing.

Operating Network

You will report to the Head of Group Accounting Unit and work closely with other members within the unit.

The post is located in the Group and Mandates Reporting Division under the Group Accounting Unit (GA) within the Financial Reporting and Accounting Department in CFC. The GA Unit, is responsible for production of EIB Group’s consolidated financial statements and the coordination of the accounting for various products such as: financial guarantees, securitisation products, indirect equity business of the Bank and EIB’s pension. Furthermore, the Team is also in charge of representing CFC transversally towards the Bank and the Group for the products under their responsibility and contribute accordingly in regard to their financial accounting impact assessment. This entails amongst others participation to different working groups and tasks forces, collaboration with other divisions within the directorate (especially with the Lending, Treasury and valuation teams) but also in cooperation with other directorates (e.g. GR&C, FI, OPS, PMM).

Accountabilities

• Execute and contribute to complex accounting and control processes, exercising professional judgment to ensure the accurate and timely production of the financial statements and other financial reports in compliance with the relevant EU directives and the International Financial Reporting Standards.
• Contribute to the interpretation and communication of accounting related strategies, policies and procedures throughout the organisation, by providing technical input and clarifications to internal stakeholders.
• Follow up in-depth the latest developments in IFRS, in European Directives and in any other relevant accounting standard the EIB and EIBG.
• Stay abreast of best practice in the accounting and financial regulatory area.
• Maintain external and internal relations relating to financial accounting.
• Participate in projects assigned (deployment of the new projects for the unit, division, directorate, Bank, EIF and the Group) including cross functional projects within the Unit and actively contribute to the deployment of the new instruments proposed by the Bank and follow up on the existing ones.
• Assist in audit preparation and support during the audit process.
• Prepare technical accounting position papers or memos on specific topics, outlining impacts, risks and recommended treatments for review by senior staff.
• Contribute to the preparation of consolidated financial statements, including selected notes, disclosures and reconciliations, ensuring consistency across the Group.
• Support consolidation processes, including intercompany reconciliations, eliminations and validation of reporting packages from entities within the Group.

Qualifications

• University degree (minimum an equivalent to a Bachelor) preferably in accounting, finance or related fields.
• An internationally recognised professional accounting or finance analyst qualification (ACCA, CFA, FRM…) would be an advantage.
• At least 3 years of relevant professional experience, ideally in a similar role in accounting, finance or related areas in the banking sector and/or with a major audit firm.
• Deep understanding of IFRS and of European Directives on accounting.
• In depth knowledge of financial instruments and investment structures, including securitization.
• Understanding of financial reports, consolidation and valuations.
• Excellent tracking and reporting skills and ability to visualize data and convey information.
• Experience working in an international and multi-cultural team.
• Knowledge of software applications such as Peoplesoft GL, TRM, CLM and Business Objects will be an asset.
• Excellent knowledge of English and/or French (***), with a good command of the other. Knowledge of other EU languages would be an advantage.

Competencies

Find out more about EIB core competencies here