Back Associate, Portfolio Management - EMEA

Requisition ID 34971 Office Country United Kingdom Office City London Division Treasury Department Contract Type Regular Contract Length Posting End Date 20/08/2024

Role Overview

The role contributes to the EBRD’s efforts to establish more sustainable local currency (LCY) financing and to develop more efficient and self-sustaining local currency markets in EBRD’s Countries of Operations (CoO).

In particular, the Associate is to support the Portfolio Management, EMEA team with analytical and research skills in monitoring local currency markets developments, overseeing central banking reform related Technical Cooperation (TC) activities, and evaluating possible opportunities for EBRD engagement through either operational or advisory activities or policy dialogue. The Associate is responsible for providing support and guidance to the Portfolio Management, EMEA team on preparation and management of the central banking reform related TC projects.

Background

The Portfolio Management – EMEA Group is the nexus for the local currency operations of EBRD’s Treasury. The desk has functional responsibility for the management of all financial risks to the Bank associated with the Bank’s local currency activities.

The core function of Portfolio Management – EMEA is the management and provision of liquidity in support of the Bank’s local currency lending activities. Crucially this risk comprises both the market risks and the liquidity / cash management risks of the Bank. It is the function of the Portfolio Management – EMEA desk to manage these risks, and where relevant run its own risk in pursuit of its P&L targets.

Furthermore, as the core of practical financial markets expertise in the Bank the Portfolio Management – EMEA desk plays a fundamental role in the development of money and derivatives local currency markets in both an advisory and practical capacity.

Key Responsibilities and Deliverables

The Associate, Portfolio Management – EMEA is expected to perform the following duties under supervision and guidance of the Director and/or Associate Director:

• Provide support to Portfolio Management, EMEA team on TC projects management related issues throughout the TC project cycles: TC project design, preparation of term of reference, management of Grant Unit submission and approval processes, overseeing the consultants’ work and providing direct advisory services to the national banks, where needed, monitoring of TC projects, reporting on TC projects, evaluations and lessons learnt of TC projects.
• Interface with all levels across the EBRD - Banking, CFMD, DCF, Grant-Review Unit, Donor Funded Operations, as well as resident offices regarding the TC related activities.
• Provide administrative and technical support to Portfolio Management, EMEA team on market development activities and work, when requested, on a wide range of projects in TC, policy dialogue and portfolio management.
• Develop and maintain relationships with Central Banks and other relevant authorities to facilitate the management of the TC projects.
• Develop and maintain relationships with market counterparties, other MDB’s and relevant industry bodies.
• Build a network of working relationships and dialogue/co-operation with all relevant departments within the Bank to ensure effective project delivery.
• Provide training for new team joiners on TC project related matters, rules and procurement procedures.

  Essential Skills, Experience & Qualifications

  • Experience in monetary policy formulation and decision making gained through holding positions at the monetary policy and research departments of the national central banks.
  • An understanding of monetary theory, central banking policy instruments, and their effectiveness in achieving policy objectives.
  • Knowledge on financial markets, and implementation of monetary policy decisions, including the management of interest rates, open market operations, and other monetary policy tools.
  • A strong understanding of all relevant products is desirable: vanilla interest rate derivatives (IRS, OIS, FRAs, Futures, & options); FX spot, fwd & swaps; cross currency basis swaps, single currency basis swaps; Repos, MMKTs and the trade life cycle.
  • Capacity to adapt and develop new solutions through analytical, interpretative, evaluative, creative and innovative thinking.
  • Partnership, influencing, problem solving and client relationship/orientation skills to enable the market develop work of Treasury.
  • Having an international exposure and familiarity with “best international practice” in central banking would be a benefit.
  • Strong technological skills in the use of all relevant systems: Bloomberg, Excel (some VBA), Powerpoint, Outlook, and other systems as relevant.
  • Minimum Bachelor’s degree. Master’s degree desirable but not required.
  • Strong English, reading, writing and comprehension skills are a necessity. A second language of one of EBRD’s Countries of Operation is highly desirable.

    Competencies & Personal Attributes:

    • Organisational Alignment - Comfortable operating in a multi-cultural environment and with an interest and motivation for the Bank’s mission
    • Creativity and Innovation – the ability to question habits and current methods and to adapt or generate imaginative, innovative and new ideas
    • Results Oriented - The ability to set clear goals and objectives for self, focusing on the delivery of targets, quality and deadlines
    • Team Player
    • Attention to detail
    • Proactive Problem solver

      What is it like to work at the EBRD?

      Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people's lives and help shape the future of the regions we invest in.

      The EBRD environment provides you with:

      • Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
      • A working culture that embraces inclusion and celebrates diversity;
      • An environment that places sustainability, equality and digital transformation at the heart of what we do.

        Diversity is one of the Bank’s core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working and expecting our employee to attend the office 50% of their working time.

        Please note, that due to the high volume of applications received, we regret to inform you that we are unable to provide detailed feedback to candidates who have not been shortlisted (for further consideration).