Senior Financial Engineering Manager

Vacancy details

General information

Organisation

INEA is one of the European Commission's Executive Agencies, managing parts of two EU funding programmes - with projects in the fields of transport, energy and telecommunications that benefit economic growth and EU citizens. The Agency contributes expertise, high-level programme management, and promotion of synergies:

• The Connecting Europe Facility (CEF): supports high-performing, sustainable and interconnected Trans-European Networks with €28.3 billion of CEF funding for 2014-2020.

• Horizon 2020: provides €80 billion for 2014-2020 towards Research and Innovation, supporting world-class science and technology. INEA manages €5.3 billion in the areas of transport and energy.

In the 2014-2020 perspective INEA is expected to manage 9000 + projects and implementation of both programmes is expected to continue beyond 2020.

Working environment

INEA is based in Brussels and offers a friendly working environment, as well as social activities. It has a multinational team of around 300 people including specialists in project management, finance, engineering, legal affairs, and communication. The number of INEA staff is expected to 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.

More information on INEA

Check our website: https://ec.europa.eu/inea
Follow us on Twitter: @inea_eu
Look for us on LinkedIn: http://bit.ly/2ecs3JA

  

Position description

Profile

Financial Engineering - Senior Financial Engineering Manager

Position title

Senior Financial Engineering Manager

Contract

Temporary agent

Grade

AD9

Mission description

In the future the Commission may decide to entrust INEA with the management of other parts of these programmes, or other programmes. As of mid 2020, INEA is expected to be entrusted with the implementation of the grant component of the Innovation Fund, one of the world's largest funding programmes for demonstration of innovative low-carbon technologies.
The Innovation Fund is the successor to the NER300 programme. The Innovation fund will become 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, Carbon Capture and Utilisation (CCU), Construction and operation of Carbon Capture and Storage (CCS) and Innovative renewable energy generation and Energy storage.
The Senior Financial Engineering Manager will work under the supervision of the Head of Unit R1 'Programme support, coordination and communication'. He/she shall be part of the unit's financial engineering team and 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.
He/she shall implement activities related to financial engineering within the Agency and with the parent DGs, primarily with regard to the Innovation Fund.

Salary range

> 50 K€

Tasks

His/her range of tasks includes the following:
Contribution to programme management

- During the preparation of the calls for proposals, liaise with operational unit of INEA, with DG CLIMA, and when 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 call for proposals as well as guidance to external evaluators

- Coordinate with stakeholders involved in the implementation of the Innovation Fund, especially financial bodies tasked with project development assistance.

- Support the Commission's activities for the development of pipelines of mature projects for the various sectors targeted by the Innovation Fund.

- 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.

- Promote actions aiming at increasing the stimulating effects of grants, including through the use of Financial Instruments established by the Commission under InvestEU

- Represent the Agency in meetings, working groups and task forces with EU institutions, the EIB, Member States and other bodies.

- Contribution to call evaluation

- Implement the evaluation methodology and processes designed during call preparation, while respecting INEA's norms, codes of conduct, procedures and control standards.

- Identify and select financial and economic experts, ensuring their diversified and high quality input to the evaluation of projects applying for grants

- Contribute to the evaluation of applications to the calls for proposals, ensuring high quality of experts' contributions to the evaluation. In particular, assess the cost benefit analysis and due diligence and identify key milestones for the project implementation.

- Contribution to project management and dissemination

- Monitor the implementation of projects selected for grants, in particular with respect to the milestones related to reaching financial close. This will involve regular contacts with beneficiaries and financing partners of the projects.

- Provide advice and support for financial structuring of projects

- Support the dissemination of experience on best practices and lessons learned in relation to the financial structuring of projects.

Interview period - from :

16/03/2020

Interview period : to

16/04/2020

Selection procedure

Selection procedure 1/2
A - Written tests (45 min)
a) Test in English comprising a series of multiple-choice questions to assess:
 your general knowledge about the Agency and related policies.
 your specific knowledge in the field of the post
Time allowed: 15 minutes.
This test will be marked out of 10 (pass mark: 5)
Wrong answers in these tests will not receive negative marks. Each question is equally valued.
b) 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 30 (pass mark: 15).
Time allowed: 30 minutes.
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 knowledge and experience in the field of Financial Engineering;
- your organizational skills including your abilities in coordinating tasks;
- your communication, inter-personal and problem-solving skills;
- your motivation and your ability to adjust to working as a Temporary Agent in a multicultural environment.
This test will be marked out of 100 (pass mark: 50).
Both the oral and written tests will be combined on a total of 140. Pass mark: 91 out of 140.

Application procedure

Selection procedure 2/2
Applicants receiving at least the minimum score (91 out 140), all tests combined, will be included in a reserve list of suitable candidates. Please note that inclusion in the reserve list does not guarantee recruitment.

Application procedure
For applications to be valid, candidates must submit:
 a detailed curriculum vitae, in EU CV format ;
 a letter of motivation, including an explanation of how each of the selection criteria are met and, if appropriate, explanation of how professional technical experience demonstrates the necessary technical knowledge for the job (2 pages maximum)
Please note that the motivation letter forms an essential basis for the pre-selection decision.
Applications must only be sent through the recruitment online system.

Closing date:
Applications must be sent no later than 28/02/2020 midnight.

Supporting documents showing evidence of the provided information may be requested at a later stage. No document will be sent back to candidates.
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 these instructions.

Appointment and conditions of employment

The jobholder will be appointed on the basis of a shortlist proposed by the selection committee.
The jobholder will be recruited as temporary agent, in the grade AD9, 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 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, at 1 July 2019 for grade AD9, first step is 8.002.30€.
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.
The place of employment will be Brussels where the Agency has its activities.
For reasons related to the Agency's operational requirements, the candidate will be required to be available at short notice.
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

20/01/2020

Publication end date

07/02/2020

Publication extension date

28/02/2020

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, 12 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, 13 years professional experience acquired in positions related to the profile of the post.

- Thorough knowledge of one of the languages of the Communities and a satisfactory knowledge of another EU language to the extent necessary to perform his/her duties.

In addition, in order to be eligible a candidate must:
- be a national of one of the Member States of the European Union;
- be entitled to his or her full rights as citizen;
- meet the appropriate character reference as to his/her suitability for the performance of his/her 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.

Selection criteria

Selection criteria 1/2
Essential:
- A level of education which corresponds to completed university studies attested by a diploma.
- Proven experience as a financial manager, with responsibility over either credit risk analysts or investment decisions including financial structuring of projects, review of business models and conduct of lending/investment due diligence.
- Proven experience in coordination
- Proven experience with financing of projects in any of the following sectors: Energy intensive industries, Renewables, Energy Storage, Carbon capture, use and storage
- Excellent drafting skills and proven experience in drafting analytical reports and other concept papers
- Excellent command of English.
- Good understanding of micro-economics aspects relevant to investment in real assets or projects, including experience with Cost Benefit Analysis assessment,
- 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,
- Proven experience with financing of projects in energy intensive industries.
- Familiarity with financing of Innovative projects (including experience of venture capital) will be considered as an important asset,

Updates on the application process

Selection criteria 2/2
Advantageous:
- Understanding of EU policies relevant to the innovation fund
- Experience of working in a multi-cultural and international environment
- Knowledge of two or more European Union languages.

Personal qualities essential for the position (evaluated during the interview):
- Organisational skills
- Sense of initiative
- Ability to work under pressure.
- Good interpersonal skills and proven ability to work as a team member.
- Good communication and presentation skills.

The Agency will invite to the interview and test phase the best candidates, with a maximum of 15 candidates invited.

The purpose of this publication is to establish a reserve list which will be used for the recruitment of candidates who will be working for the Innovation Fund. The recruitment can only take place after the mandate of INEA to be entrusted the implementation of the Innovation Fund has been adopted.

Equal opportunities, appeal procedure & data protection

The European Union institutions apply a policy of equal opportunities and accept applications without discrimination on the ground 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.

A candidate who estimates that a mistake was made in the assessment of his/her profile may ask to have it re-assessed by sending, within 15 calendar days of the date on the email notifying the rejection of his/her application, a request for review, quoting the number of the selection procedure concerned to the Chairman of the Selection Committee at the following address: INEA-HR-INFO@ec.europa.eu.
The Selection Committee will reconsider the application and notify the candidate of its decision within 15 working days of receipt of the letter.

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 INEA. 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.