Head of Internal Audit

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.

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

Location: Luxembourg

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.

Candidates will be informed of the next step end of February/beginning of March.

Purpose

As Head of Internal Audit, you will build the vision for the Internal Audit Department, lead the Department in a manner that enables the achievement of EIB goals, and develop and manage Internal Audit activities for the EIB Group, in accordance with our Internal Audit Charter and the Institute of Internal Audit (IIA) standards.

Operating Network

Reporting to the President, and to a mandated Vice-President for specific matters as requested by the President, you will have direct access to the Audit Committee (*), and will have regular contact with the EIB Management Committee, and with the Directors General and Directors of the EIB Group.

Your external counterparts may include external Auditors, peers from other EU institutions, Banks and Multilateral Financial Institutions, as well as external professional associations (e.g. IIA, ISACA)

(*) The EIB’s Audit Committee (AC) is one of the four governing bodies of the Bank.  It is accountable directly to the Board of Governors and is responsible for:

  • the audit of the Bank’s financial statements
  • the verification that the Bank’s activities confirm to Best Banking Practice
  • the verification that the Bank’s operations:
    • Have been conducted, and that its books are kept, in a proper manner
    • Are carried out in line with the formalities and procedures of the EIB’s statute and rules of procedure, and
    • Are duly booked according to the generally accepted accounting principles of the EU Directives (EU GAAP) and to International Financial Reporting Standards (IFRS), as adopted by the EU

Specific Post Environment

The Internal Audit Department is composed of two Divisions:  one Division is responsible for the audits of the Bank, and the other for auditing activities of the EIF and for specialised IT audits.

Accountabilities

  • Take responsibility for the overall delivery of audit services in accordance with IIA Standards; coordinate the high-level risk assessment and planning of activities in both EIB and EIF, seeking were necessary to take a ‘Group’ perspective and ensuring a satisfactory allocation of resources across the varied audit areas
  • Develop a strategic ‘plan’ for your Department, with regard to the short, medium and long term, in order to support the Group’s overall strategy in critical functional areas and achieve EIB strategic targets
  • Provide leadership and advisory support to your Heads of Division, including problem-solving on complex issues and handling of cross-Departmental issues
  • Ensure that staff within the Department have adequate competencies and objectives,  to be able to manage the internal audit activities in accordance with the requested standards
  • Coordinate, supervise and intervene whenever necessary in the execution of key Department processes and ensure consistency with the EIB Group policies, regulations and best banking practices
  • Represent Internal Audit in various interactions with senior management and high-level committees
  • Provide strategic and policy-related direction for the business and organisational initiatives (middle office, Lines of Defence, Group Risk)
  • Provide all levels of Management with assurances, analyses, agreed action plans or recommendations, counsel, and information concerning the activities reviewed
  • Represent the Group externally, maintain and develop relationships with external partners (other EU institutions, international organisations, external partners, associations etc) to build co-operation and promote the EIB Group’s image.

Qualifications

  • University degree in a relevant subject, preferably supplemented by post-graduate studies in a business-related area and/or by a professional accountancy or internal audit qualification
  • At least 10 years of relevant financial services experience, of which the majority in internal/external audit, potentially complemented by additional experience in another equivalent control function
  • Minimum 5 years of management responsibilities for teams of senior experts
  • Knowledge of the EIB mission and activities as well as its political and operating framework
  • Very good knowledge of the European financial services regulatory framework
  • In-depth knowledge of financial services risk management and internal control
  • Excellent knowledge of English and/or French (*), with a good knowledge of the other. Knowledge of other EU languages would be an advantage

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 organisational 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 performance excellence and addressing underperformance when required.

(*) 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 rapidly build up 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.

We are an equal opportunity employer, who believes that diversity is good for our people and our business.  As such, we promote 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 (**).

Deadline for applications: 14th February 2020. 

(**).  We particularly welcome applications from women and persons with disabilities.

Gem job

European Investment Bank
Publiceret: 23. januar 2020

Arbejdssted

Luxembourg