The EIB, the European Union's bank, is seeking to recruit for its Group Risk & Compliance Directorate (GR&C), Office of the Group Chief Compliance Officer  (OCCO), at its headquarters in Luxembourg, a Group Chief Compliance Officer. This is a full-time position at grade 8/9.

Purpose

The Compliance function (OCCO) sits within the Bank’s Group Risk & Compliance Directorate (GR&C).

Your remit as Group Chief Compliance Officer is to identify, assess, advise on, monitor, and report on the compliance risk (as defined by the Basel Committee on Banking Supervision) and non-financial risk of the EIB Group.  You will develop and implement the vision and overarching strategy for the management of Compliance and Non-Financial risks under the remit of the Chief Group Risk Officer, and guide GR&C-OCCO’s staff, taking full responsibility for decision-making in critical phases of key area processes in the Directorate, in conformity with EIBG policies.

Operating Network

Reporting to the Group Chief Risk Officer (GCRO) on matters that fall under the GCRO’s remit, you will also have a functional reporting line to the MC, and will interact extensively with the Governing Bodies, including the Audit Committee, as well as with the EIF. 

You will lead a staff of approximately 125 people, organized in two Departments:

• Group Operational & Regulatory Compliance (incorporating the Sanctions and Exclusion Committee Secretariat, Anti-Money Laundering/Combating the Financing of Terrorism (AML-CFT), Tax and Regulatory Compliance including Conduct Risk)
• Group Non-Financial Risk (which includes Operational and Information Security/Cyber Risk, as well as Ethics & Integrity, Outsourcing and Business Continuity, Transversal Files and Project & Change management activities)

The Bank’s Data Protection Office also falls under your administrative responsibility.

Internally, you will interact with representatives from all EIBG services at Senior Management level, and externally you will liaise with counterparts at the highest decision-making levels, including within public authorities, EU institutions, IFIs, and other relevant organizations, as you represent the EIB Group externally, maintain and develop relationships, and build co-operation.

Accountabilities

Strategic & Operational Management

• Develop an overall strategy for compliance and for the management of the non-financial risks under the GCRO’s remit, with regard to the short, medium, and long term
• Formulate and oversee the implementation of GR&C-OCCO’s operational strategy and policy, with short, medium, and long-term perspective
• Establish and manage the resources and means to implement the overall functional strategy and policies in the most effective and efficient way
• Take full responsibility for decision-making in critical phases of key area processes in GR&C-OCCO and ensure effective implementation of relevant key processes to ensure conformity with the relevant EIBG policies, guidelines, and tools, as well as with applicable European banking regulations (“Best Banking Practices”).
• Independently identify, assess, and advise on the non-financial risks of the EIBG under your remit; monitor, under the oversight of the GCRO, these risks
• Provide effective oversight as 2nd Line of Defense on all EIBG operations, including core Compliance due diligence and monitoring on EIB counterparties and operations/transactions 
• Oversee the day-to-day operational management of GR&C-OCCO and report regularly on the results achieved. In this context, promote changes and collaborate actively with other services to rationalize and simplify processes and procedures
• Ensure an effective ongoing implementation of the comprehensive change management programme intended to strengthen compliance related activities in both the 1st and 2nd Lines of Defense and further develop the same
• Oversee the development, implementation, and execution of the budget and procurement strategy at GR&C-OCCO level, ensuring that projects and accounts are managed cost-effectively to maintain adherence to the organization’s financial objectives in the short, medium, and long-term
• Steer the development and implementation of EIBG compliance and non-financial risk policies and procedures, in consultation with the EIF and under the oversight of the GCRO
• Support the GCRO including in interactions with the Bank’s Governing bodies and other IFIs/MDBs, and represent the GCRO on Steering Committees/Boards as appropriate
• Promote and preserve a network of external contacts and a close cooperation and partnership with institutions of the EU, IFIs and other organizations active in the relevant sector
• Maintain a constructive cooperation with other Directorates/Departments and services of the Bank
• Represent the Bank at high-level

People Management

• Identify, manage, develop, and retain the resources needed to implement the agreed strategy and policies, setting, and monitoring the objectives
• Ensure that the staff under your direct and indirect supervision has the adequate competencies, objectives, and motivation to implement the strategy and deliver results
• Promote effective cooperation and team spirit throughout the Directorate, Bank and Group, as well as the dissemination of information
• Foster a climate of development in which staff is growing in skills and expertise in to prepare for future developments and changes.

Qualifications

• University degree, preferably in a relevant field and to post-graduate level
• At least 10 years of relevant professional experience, preferably gained in a large commercial or public bank or development finance institution governed by European banking regulations
• A solid and demonstrated experience in compliance and its operationalization in a business context (2nd Line of Defense), and a solid understanding of the associated issues, challenges, policies, and methodologies
• Deep knowledge of EIB Group objectives, strategies, policies, and processes with an ability to understand and anticipate the role of the Group within the EU policy framework
• Prior working relationships with the relevant parts of the European Commission or other institutions of the EU would be an asset
• At least 5 years in a leadership or managerial role, with the ability to motivate large international teams and to navigate complex and highly sensitive situations
• Excellent knowledge of English and/or French (*), with a good command of the other. Knowledge of other European languages would be an advantage

Competencies

Find out more about EIB core and managerial competencies via the 'Apply' button.

 (*) 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 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: 2nd February 2023.  Applicants will receive initial feedback in February 2023.

The appointment is for a term of up to five years.