General information

Organisation

The European Climate, Environment and Infrastructure Executive Agency (CINEA) has been established by the European Commission to support stakeholders in delivering the European Green Deal through high-quality programme management that helps to implement projects contributing to decarbonisation and sustainable growth. CINEA implements parts of EU funding programmes for transport, energy, environment and climate action with strong focus on contributing to the European Commission's Green Deal priority.

The main programmes managed are:

•The Connecting Europe Facility (CEF);
• Horizon Europe: the EU's Research and Innovation programme for which CINEA manages the areas of transport and energy;
•The Innovation Fund;
•LIFE Programme;
•European Maritime, Aquaculture and Fisheries Fund;
•The EU Renewable Energy Mechanism;
•The Public Sector Loan Facility of the Just Transition Mechanism.

The budget managed by CINEA in 2021-2027 period is ca. € 65 billion

CINEA is based in Brussels with a multinational team of nearly 600 persons. The number of staff will grow further over the coming years and the purpose of this publication is therefore to set up a reserve list, which will be used to cover the growing needs of the Agency. The reserve list may also be used by other Executive Agencies.
More info on: https://cinea.ec.europa.eu/index_en, X (https://twitter.com/cinea_eu), Linkedin and our YouTube channel.

  

Position description

Profile

Financial Engineering - Senior Financial Engineering Manager

Position title

Senior Financial Engineering Manager

Contract

Temporary agent

Grade

AD7

Mission description

The Agency has been entrusted mid-2020 with the implementation of the grant components of the Innovation Fund, one of the EU's largest funding programmes for demonstration of innovative low-carbon technologies.
The Innovation Fund is a key funding instrument for delivering the European Green Deal, a package of measures aiming at becoming the first climate-neutral continent by 2050. The Innovation Fund focuses on demonstration and “first of a kind” projects in energy intensive industries (including products substituting carbon intensive ones and aviation), Carbon Capture and Utilisation (CCU), construction and operation of Carbon Capture and Storage (CCS), maritime, road transport and building sectors as well as innovative renewable energy generation and energy storage.

The Financial Engineering (FE) team of CINEA is an expanding team that contributes with its expertise in the field of project and sustainable finance at different stages of the implementation of the Agency's programmes.

As member of the FE team, the Senior Financial Engineering Manager shall implement activities related to financial engineering within the Agency together with the relevant DGs of the European Commission, primarily with regards to the Innovation Fund.
The jobholder will be part of the unit's Financial Engineering team and work under the authority of the Head of Unit responsible for 'Programme support, coordination and communication' and under the supervision of the Head of Sector responsible for the FE team. The jobholder will collaborate with a wider team of colleagues of the Agency, the European Commission and implementing partners to which the Commission delegates part of EU programmes, notably the European Investment Bank (EIB). The jobholder will interact frequently with external actors, in particular the representatives of projects that benefit from CINEA's funding programmes and the experts involved in the evaluation of call for proposals organised by CINEA.
The Senior Financial Engineering Manager shall support the Commission's activities for the development of pipelines of mature projects for the various sectors targeted by the Innovation Fund, and in this context contribute to all phases of those project's lifecycle, including evaluation, contracting, implementation and monitoring.

Tasks

The Senior Financial Engineering Manager range of tasks includes the following:
• During the preparation of the calls for proposals, liaise with the operational unit of CINEA, with DG CLIMA, and where relevant with consultants contracted for the preparation of the Innovation Fund, to:
o set up/fine tune processes and supporting tools for the evaluation and monitoring of financial and economic aspects of project proposals and projects and;
o establish/fine tune documentation related to the call for proposals as well as guidance to external evaluators
• Identify and select financial experts who can provide diversified and high quality input to the evaluation of projects applying for grants;
• Conduct the evaluation of applications received under the calls for proposals, ensuring high quality of experts' contributions to the evaluation. In particular, assess key milestones for the project implementation;
• Implement the evaluation methodology and processes designed during call preparation, while respecting CINEA's norms, codes of conduct, procedures and control standards;
• Monitor the implementation of projects selected for grants, in particular with respect to the milestones related to reaching financial close and entry into operation. This will involve regular contacts with beneficiaries and financing partners of the projects;
• Conduct research and analysis of background information on industries and markets, as well as financial data; analyse and evaluate potential financial risks related to the proposed projects, including analysis of financial statements, reviewing and updating financial models and financial projections;
• Set up the contractual arrangements between the Agency and the project beneficiaries;
• Ensure the sharing of knowledge and dissemination of project results. Support the dissemination of experience on best practices and lessons learned;
• Analyse and oversee the financial performance of projects, assess evolving financial risks, during project implementation and propose mitigation actions to support project beneficiaries during project implementation;
• Contribute to an efficient feedback to policy, ensuring that experience from implementation of projects and calls is fed back to the relevant DGs of the European Commission and used as input to improve subsequent programme management cycles;
• Represent the Agency in meetings, working groups and task forces with EU institutions, the EIB, Member States and other bodies;
• Support the development and implementation of new funding or financial instruments supporting the implementation of the European Green Deal.

Salary range

80-130k€

Interview period - from :

01/06/2024

Interview period : to

30/06/2024

Selection procedure

A - Written test (30 min)
All pre-selected candidates will be invited to sit the written test at the same time, in general one week ahead of the interview period. In order to ensure the integrity of the tests, there will only be one sitting of the tests. Failure to sit this test will result in the candidate being excluded from the selection procedure.
The test will consist of a case study in English designed to test:
- your knowledge in the field of the profile;
- your ability to understand, analyse and summarise;
- your drafting ability.
This test will be marked out of 25 (pass mark: 12.5).
Time allowed: 30 minutes
Only candidates that pass the written test will be invited for the oral test.
B – Oral test (30 min)
Interview with a selection board in English to assess:
• your suitability to carry out the duties of a Senior Financial Engineering Manager
• Your specialist knowledge in the field
• Your communication, inter-personal and problem-solving skills
• Your general knowledge about the CINEA and related policies
This test will be marked out of 100 (pass mark: 50).
Both the oral and written tests will be combined on a total of 125. Pass mark: 81,25 out of 125.
Candidates receiving at least the pass mark (81,25 out of 125), all tests combined, will be included in the reserve list of suitable candidates. Please note that inclusion in the reserve list does not guarantee recruitment.
Second interviews may be organised with candidates in the reserve list.

Application procedure

For applications to be valid, candidates must submit:
- a detailed curriculum vitae, in EU CV format (1);
- a letter of motivation, including his/her views on the mission of the proposed position (2 pages maximum).

Please note that the CV and motivation letter forms an essential basis for the pre-selection decision.

Applications may only be sent through the recruitment online system.

Closing date: applications must be sent no later than 3 May 2024 midnight.

Supporting documents showing evidence of the provided information may be requested at a later stage.

Candidates are invited to apply in English to facilitate the selection process.

In no circumstances should candidates approach the selection committee themselves, either directly or indirectly concerning this recruitment. The authority authorised to conclude contracts reserves itself the right to disqualify any candidate who disregards this instruction.

(1) EU CV format available on: https://europa.eu/europass/en/create-europass-cv

Appointment and conditions of employment

The jobholder will be appointed on the basis of a shortlist proposed by the selection committee.
Prior to the engagement of the staff the Agency may request references from former employers and reserves the right to contact them.
The jobholder will be recruited as temporary agent, in the grade AD7, pursuant to Article 2f of the Conditions of Employment of Other Servants of the European Communities (CEOS) of the new Staff Regulations which is into force since the 1st January 2014. The salaries of temporary agents are subject to a community tax deducted at the source. They are exempt from national tax. The European institutions have their own social security and pension scheme. The basic monthly salary, before any deductions or allowances (e.g. child allowance, school allowance, expatriate allowance), at 1 July 2023 for grade AD7, first step is 7.050,47 €.
The jobholder will serve a probation period of nine months.

The initial contract will be for a duration of 2 years and may be renewed and may be renewed and turned into a contract of indefinite duration.

The place of employment will be Brussels where the Agency has its activities.

For further information on the legal framework of temporary agents see the web site of the Directorate-General for Human Resources and Security (DG HR) on the internet at
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CONSLEG:1962R0031:20140101:EN:PDF

Publication date

Publication start date

12/04/2024

Publication end date

03/05/2024

Candidate criteria

Eligibility criteria

A. Eligibility criteria
 A level of education which corresponds to completed university studies attested by a diploma when the normal period of university education is four years or more and, after having obtain the diploma, 6 years professional experience acquired in positions related to the profile of the post;
 Or a level of education which corresponds to completed university studies attested by a diploma when the normal period of university education is at least three years and, after having obtain the diploma, 7 years professional experience acquired in positions related to the profile of the post;
 Or, where justified in the interests of the service, professional training in a relevant technical domain and, after having completed the professional training, at least the professional experience indicated in the table below:

Duration of the professional training Professional experience
Less than 1 year 10 years
At least 1 year but less than 2 9 years
At least 2 years but less than 3 8 years
At least 3 years but less than 4 7 years
4 years or more 6 years

 Thorough knowledge of one of the languages of the Communities and a satisfactory knowledge of another EU language to the extent necessary to perform their duties.

Other eligibility criteria

In addition, in order to be eligible a candidates must:
 be a national of one of the Member States of the European Union;
 be entitled to their full rights as citizens;
 meet the appropriate character reference as to their suitability for the performance of their duties;
 have fulfilled any obligations imposed by the applicable laws concerning military service, and;
 be physically fit to perform the duties linked to the post.
Please note that only candidates that comply with the Eligibility criteria will be considered for further steps of this Selection procedure.

B. Selection Criteria 1/2
Essential:
• At least 3 years of experience in the field of project finance (i.e. financing of an investment project based on its cash flows generated).
• Proven experience in credit or investment decision-making processes for instance in relation to tasks such as the design of optimal financial structures for projects, review of business plans, analysis of financial models, negotiation of loan documents, experience in lending / investment operations and due diligence processes.
• Proven experience in coordination of activities.
• Proven experience with financing of projects in any of the following sectors: Maritime, building and road transport sectors, Energy intensive industries (including aviation), Renewables, Energy Storage, Carbon capture, use and storage.

Selection criteria

B. Selection Criteria 2/2
Essential:
• Excellent drafting skills and proven experience in drafting analytical reports and other concept papers.
• Excellent command of English (written and spoken at least C1).

Advantageous:
• Good understanding of micro-economic aspects relevant to investment in real assets or projects.
• Good understanding of micro-economic aspects of industrial processes contributing to climate action, notably those falling under Emission trading Systems or benefitting from EU or national support schemes.
• Familiarity with financing of innovative projects (including experience of venture capital) will be considered as an important asset.
• Proven experience in coordination of teams
• Understanding of EU policies relevant to the Innovation Fund and the European Green Deal.
• Experience of working in a multi-cultural and international environment. Knowledge of further European Union languages beyond the mandatory English skills.

Personal qualities essential for the position (evaluated during the interview):
 High degree of organisational skills and ability to work under pressure;
 Good interpersonal and communication skills;
 Proven ability to work as a strong team player;
 Ability to set and follow priorities.

The Agency will invite to an interview and written test phase the best candidates, with a maximum of 30 candidates.

Languages

English (Proficient C2)

Updates on the application process

An acknowledgement of receipt will be sent to all candidates by email to confirm the reception of their application.

All candidates will be informed in due time about the processing of their application, either they are invited for the selection procedure as described above or not. These notifications will be sent by email only.

A candidate may request clarifications about the processing of his/her application by sending an email quoting the reference of the vacancy notice concerned, at the following address CINEA-HR-RECRUITMENT@ec.europa.eu

Equal opportunities, appeal procedure & data protection

Equal opportunities
The European Union institutions apply a policy of equal opportunities and accept applications without discrimination on the grounds of sex, race, colour, ethnic or social origin, genetic features, language, religion or belief, political or any other opinion, membership of a national minority, property, birth, disability, age or sexual orientation.

Appeal procedure: for complete list of means of redress please browse the following link:
https://cinea.ec.europa.eu/about-us/job-opportunities/means-redress_en

Data protection
The purpose of processing of the data submitted by candidates is to manage the applications in view of a possible pre-selection and recruitment at the CINEA. The personal information requested from candidates will be processed in line with Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of individuals with regard to the processing of personal data by the Community institutions and bodies and on the free movement of such data. Candidates are invited to carefully read the relevant Data Protection Notice available on the dedicated page of CINEA's website: https://cinea.ec.europa.eu/about-us/job-opportunities_en