Purpose of Job
The Associate Director, Senior Funding Officer is a key position for the implementation of the Bank’s Board approved annual Borrowing Programme and local currency capital market development. Operating with significant autonomy in a complex and changeable environment, and providing guidance to other team members, the role involves the origination and execution of transactions within given broad strategic and operational boundaries, together with the marketing of the Bank’s credit to a wide range of market counterparties and investors. The position also involves representing the Bank at external events, which often provide the Bank with a high degree of visibility, and supporting internal stakeholders with capital market advice. With the guidance of the Director, Deputy Treasurer, Head of Funding, the position calls for the ability to assess market developments as well as to interpret the policies / guidelines governing funding activities against both current and future market frameworks.
The provision of liquidity support including in local currency is one of the core functions that the Board mandates Treasury to undertake for the Bank’s overall purposes.
Despite its large capital base, the vast majority of the Bank’s funding is capital markets based. The Funding Team is responsible for executing an annual Borrowing Programme in the international capital markets to support the Bank’s annual Strategy Implementation Plan as well as to source local currency funding in a manner that has a positive impact in terms of local capital markets development.
The Funding Team is the key interface of the Bank with the capital markets; the team is responsible not only for executing a vast range of funding transactions, but also building and managing relationships with e.g. investors, dealers, regulators and rating agencies as well as enhancing the Bank’s visibility and marketing the Bank’s name and credit quality.
Facts and Scale
- Execute the annual borrowing amount of EUR 12-17 billion in over 150 individual transactions with freedom for a Senior Funding Officer to independently mandate transactions of a size up to EUR 200 million.
- Buyback of 11% of all bonds issued since its inception, providing significant liquidity for the bonds even at times of market stress
- Contribute significantly to the Bank’s profitability through he borrowing and buyback activities
- Manage external relationships with more than 30 different market counterparties, covering issuance opportunities, as well as specific topics such as regulatory changes and sustainability themes
- Engage with local regulators in target markets to identify changes in regulation and market practice that would support market development and the Bank’s issuance
- Represent the Bank at speaking engagements, typically in panels or round table discussions at international trade conferences.
- Support the Director, Deputy Treasurer, Head of Funding in investor relations for the EBRD with bilateral meetings as well as representation on external high profile initiatives (such as the Executive Committee of the Green Bond Principles)
- Engage daily with a variety of internal stakeholders, most notably OGC, Risk Management, Analytics, Treasury Operations, Middle Office and Treasury Accounting
Accountability and Responsibilities:
- Take a leadership role in executing the Borrowing Programme by autonomously originating, structuring and negotiating complex and varied funding transactions, as well as associated derivatives, in accordance with broadly-defined procedures and whilst protecting the reputation of the Bank
- Pursue and execute bespoke arbitrage opportunities in exotic currencies and other structured transactions to help produce funding results that consistently exceed market pricing benchmarks
- Keep up to date on market and regulatory developments in order to:
- develop new product types and structures, working with external and internal counterparties
- identify any future potential challenges and contribute to the development of strategic funding goals
- Market the Bank’s credit and its specific abilities as a borrower through developing and maintaining relationships with financial intermediaries, investors and ratings agencies; this activity requires an in-depth understanding of the Bank’s activities, risks and trends
- Contribute to the work undertaken in connection with key strategic initiatives of the Bank, such as evaluating, and promoting possible opportunities in local capital markets development and environmental and socially responsible financing.
- Prepare presentations for external (market counterparties) and internal (FOPC and ALCOM)) audiences, ensuring that all information provided to third parties is adequately verified and consistent with the key messages projected by the Bank
- Maintain a frequent dialogue with internal policy setting bodies and committees to help establish the optimal way of collating and presenting key metrics in a consistent and clear format
- Represent the Bank externally on key initiatives, and Treasury internally on various management committees
- Work closely with OGC, external lawyers and financial intermediaries on the negotiation, drafting and completion of transaction documentation to ensure the correct representation of all commercial aspects in the transactions.
- Work closely with Treasury Analytics/Research and other departments such as Risk Management, Operations, Middle Office and Financial Control to facilitate the booking, valuation and risk measurement of new products by assisting in the identification of pricing methodologies, and suitable data sources.
- Advise Banking and other parts of the Bank on (local) capital markets and regulatory aspects
- Provide guidance to team members in executing transactions
KnowledgeSkills/Experience and Qualifications
- Bachelor’s degree (Masters preferred or equivalent experience in area of expertise/recognised professional qualification)
- Extensive debt capital markets experience in a major international financial institution
- Strong quantitative skills and good practical understanding of the key elements of derivative pricing theory and trade capture, as well as risk management systems such as Summit
- Thorough knowledge and understanding of transaction processes to facilitate the accurate capture of transactions in the banks systems
- Attention to detail, strong organisational and planning ability in order to operate under tight deadlines
- Excellent negotiation, communication and inter-personal skills
- Highly motivated, committed and tenacious
- Comfortable operating in a multi-cultural environment and with an interest and motivation for the Bank’s mission
- Desire to contribute to a team
- Coaching, mentoring and leadership skills
- Demonstrate good citizenship.
- Communicate with conviction and honesty.
- Develop mutually beneficial relationships.
- Act in the interest of sustainable success.
- Have the courage and tenacity to constantly review processes and behaviour in order to innovate and remain relevant.
Please note that CCTs, Interns and applicants working directly for a Board office can only apply for jobs advertised via the external careers website.