Senior Financial Engineering Manager

Vacancy details

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 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. € 58 billion

CINEA is based in Brussels with a multinational team of around 500 persons. The number of staff will grow further over the coming years, due to the Agency's new portfolio. 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 info on: https://cinea.ec.europa.eu/index_en, 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

AD9

Mission description

The Agency has been entrusted mid-2020 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 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), 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 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 Senior Financial Engineering Manager will work under the supervision of the Head of Unit A1 responsible for 'Programme support, coordination and communication'. He/she will 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 (EIB).

Salary range

> 50 K€

Tasks

His/her 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 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.

• Contribute to the call evaluation

• Implement the evaluation methodology and processes designed during call preparation, while respecting CINEA'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 key milestones for the project implementation.

• Contribute to project management, knowledge sharing and dissemination of results.

• 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 the financial structuring of projects.

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

• Support the development of new funding or financial instruments supporting the implementation of the European Green Deal.

Interview period - from :

13/06/2022

Interview period : to

29/07/2022

Selection procedure

A - Written tests (30 min)
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 40 (pass mark: 20).
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.
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.
The Agency may have a second interview with the candidates in the reserve list.

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 27th of May 2022 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 gross monthly salary, before any deductions or allowances, on 1 July 2021 for grade AD9, first step is 8.211,43€.
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 for one additional year. The contract may be renewed again, and in this case it shall be concluded for an indefinite period.
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

18/03/2022

Publication end date

15/04/2022

Publication extension date

27/05/2022

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.

Other eligibility criteria

B. Selection criteria 1/2
Essential:
• At least 4 years of experience in the field of project finance.
• 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 combined with excellent command of English (at least C1).

Advantageous:
• 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.

Selection criteria

B. Selection criteria 2/2
Advantageous:
• Familiarity with financing of innovative projects (including experience of venture capital) will be considered as an important asset,
• 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 30 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.

Languages

English (Proficient C1)

Updates on the application process

An acknowledgement of receipt will be sent to all candidates by email to confirm the receipt of their application.
All candidates will be informed in due time about the status of their application, i.e. whether they are invited for the selection phase described above or not. These notifications will be sent via 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, to the following address: CINEA-HR-RECRUITMENT@ec.europa.eu

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.

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

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.