(Senior) Budget and Cost control Officer

at  European Investment Bank

This position is based at our Luxembourg headquarters and requires regular office presence. The EIB offers you the opportunity to live and work in a truly international and multi-cultural environment. We also offer relocation support.
The EIB, the European Union’s bank, is seeking to recruit for its Chief Financial Controller Directorate (CFC), Corporate Financial Planning and Control Department (CFPC), Planning and Analysis Division (PA), Corporate Financial Reporting and Budgeting Unit (CFRB), at its headquarters in Luxembourg, a (Senior) Budget and Cost control Officer *.

ACCOUNTABILITIES

• Contribute to the definition and development of the Bank’s budgetary framework covering staff budget, other operating expenses budget and capital budget to support the execution of the EIB Group’s Operational Plan.
• Develop, enhance and implement policies, procedures and processes to ensure an efficient management of the budget function and to promote an effective cost management with a focus on value for money and overall cost effectiveness.
• Ensure the full cycle of budget management, i.e. budget planning incuding budget request management, budget execution, monitoring, reporting, analysis and control.
• Following the overall strategic direction, develop budget and resource planning scenario(s) to support the budget proposal presented in the EIB Group’s Operational Plan.
• Propose and implement the annual budget and resources allocation across the Bank, in alignment with the approved EIB Group’s Operational Plan.
• Identify and analyse key cost drivers to provide actionable insights.
• Develop and present comprehensive analytics to support strategic business decisions and optimize budget planning.
• Ensure and further develop comprehensive and consistent reporting for budget and cost management to foster an informed decision making by senior management and governing bodies.
• Lead initiatives to develop and enhance analytics and IT tools to support an efficient budget and cost management function and to alignment with best practices.
• Ensure guidance and support to other organisational units dealing with budgetary matters.
• Coach and provide guidance to junior staff in the execution of the team’s processes.
• Develop and maintain external and internal relations related to budget and cost management and stay abreast of best practices.

QUALIFICATIONS

• University degree (minimum an equivalent to a Bachelor) preferably in Business Administration, Finance, Accounting or related fields.
• Relevant internationally recognised professional qualification in Management or Financial Accounting (e.g. CGMA, ACA, ACCA) would be an advantage.
• At least 5 years of relevant professional experience, preferably in a Financial Planning & Analysis or Management Accounting function, with a focus on budget management gained in an international organisation or in a bank.
• Excellent knowledge and understanding of budget and cost management methodologies as well as their processes and their linkage with core operations and business plan setting and implementation.
• Experience in developing a budget management function in a multinational organisation will be considered as a distinct advantage.
• Strong analytical skills and mindset with the ability to analyse intricate data and translate them into actionable insights and strategies.
• Experience in producing clear and concise reports and presentations for senior management or governing bodies.
• Good interpersonal, leadership and change management skills with the ability to build relationships with stakeholders and deliver results in a cross-functional environment.
• Proven ability to diagnose and resolve multiple concurrent issues while effectively managing shifting demands, priorities and tight deadlines.
• Knowledge of the Bank’s mission, activity, organisation and products would be an advantage.
• Strong knowledge of relevant software (e.g.: PeopleSoft FIN, Business Objects) or other equivalent standard ERP systems and Financial Planning & Analysis tools.
• Solid knowledge of the Bank’s standard MS office tools, notably Excel; knowledge of Power Queries and/or Visual Basic macros.
• Excellent knowledge of English and/or French (**) with a good command of the other. Knowledge of other EU languages would be an advantage.

As (Senior) Budget and Cost control Officer, you will manage the Bank’s operating budget cycle, i.e. the budget planning, execution, monitoring and control, analysis and reporting, in order to support the EIB Group’s Operational Plan and foster an efficient resource utilisation.