Overview

The role of Financial Officer involves back-office processing, validation, reconciliation, and monitoring of financial transactions within the European Commission's Directorate-General for Budget.

Tasks Summary

• Post-trade processing, validation, reconciliation against counterparty confirmations and settlement monitoring of asset management trades.
• Monitoring and follow up of corporate actions in relation to the assets under management.
• Management and control of cash and security accounts.
• Input borrowings and loan data into dedicated IT management system, prepare confirmation letters for beneficiaries of loans and request and follow-up budgetary coverage for operations with third countries.
• Monitoring of matched transactions and follow-up with primary dealer in the context of EU bond/bill issuances.
• Execution of payments, production and monitoring of SWIFT messages: creation, modification, verification of payment messages, confirmations, security settlement messages, free format messages.
• Post-trade activities, payments execution and sending SWIFT instructions in the context of the repurchase and reverse repurchase facility and for money market deposits.
• Maintenance and control of static data in the dedicated IT management systems (Bloomberg AIM and SUMMA).
• Maintain contacts with key persons in the external service providers (banks, SWIFT, Central securities depositories).
• Drafting of flowcharts and manuals in relation to back-office activities.
• Project work in the context of the development of the funding activities of the Union and the asset management activities.
• Acting as a back-up for daily tasks of back-office colleagues (borrowing, lending and asset management operations).
• Support monitoring the evolution of market practices and of applicable rules and regulations and support the implementation of the necessary changes to internal processes.

Experience Requirements

• Proven hands-on experience in back-office functions in financial institutions.
• Good knowledge of market practices and conventions in the financial markets would be an asset.

Qualification Requirements

Have a level of education which corresponds to completed university studies of at least three years attested by a diploma.

Other Details

Languages Required: • have a thorough knowledge (minimum level C1) of one of the 24 official languages of the EU • AND have a satisfactory knowledge (minimum level B2) of a second official language of the EU , to the extent necessary for the performance of the duties.

Languages Preferred: A very good command of English (written and oral) is important.

Contract Duration: The duration of the first contract will be 1 year. Subject to the interest of the service, the contract may be renewed one or more times up to a maximum duration of 6 years.

Work Modality: possibility of teleworking

Remuneration: The grade or proposed grade range, as well as the step in that grade, will be defined on the basis of the candidates’ previous professional experience, in accordance with Commission Decision C(2017) 6760 laying down the criteria applicable to classification in step on engagement. The pay of staff members consists of a basic salary supplemented with specific allowances, including, where applicable, expatriation and family allowances.