(Senior) Internal Control Officer

at  European Investment Fund

EIF POSTING

The European Investment Fund (EIF) is seeking to recruit for its Internal Control Department - Regulatory & Conduct Compliance (ICR&CC) Division at its headquarters in Luxembourg, a (Senior) Internal Control Officer*. This is a full-time position at grade 4/5 for which the EIF offers a permanent contract.

• Internal benchmark: (Senior) Officer

Panel interviews via video-conference are anticipated for November/December 2024

QUALIFICATIONS

• At least three (3) years (after having obtained your initial university diploma) relevant professional experience and no more than five (5) years of relevant work experience at the same level of responsibility in a similar position, having performed testing of control activities in the financial services industry, preferably exposed to Internal Control or Internal/External Audit;
• University degree, preferably at postgraduate level, in Business Management, Compliance, Audit, or any related subjects.
• Additional professional or academic qualifications in these areas would be considered an asset;
• Strong skills in designing and adapting internal control methodologies;
• Clear track record in testing/sampling methodologies and IT control testing tools;
• Solid understanding of EIF’s mission and activities as well as its operating framework would be an advantage;
• Excellent knowledge of English, both oral and written, with strong drafting skills. Knowledge of other EU languages would be considered an asset.

At a level commensurate with your experience and seniority, you will:

• Ensure validity and completeness of the Internal Control Framework (ICF) and Risk & Control Matrix (RCM), and monitor the proper implementation of recommendations and conclusions;
• Challenge EIF services’ controls;
• Propose improvements in terms of policies’ updates and implementation of processes, as well as reinforcement of control activities;
• Develop efficient and coherent concepts for the incubation of a permanent, central and transversal Internal Control Function;
• Develop and maintain a process and methodology for the regular testing of internal controls;
• Evaluate and integrate information from other testing such as external or internal audit findings, operational risk events, ISAE 3402, amongst others, in order to orientate the testing to be performed;
• Assess and monitor the risks of the institution and to what extent they (may) lead to reputational and/or financial impacts;
• Contribute to the selection/deployment of appropriate IT tools to ensure the institution complies with its requirements;
• Coordinate and support the annual independent ISAE 3402 audit exercise;
• Contribute to the ICF and ISAE 3402 annual reports to the Chief Executive and Deputy Chief Executive, Board of Directors and Audit Board;
• Monitor and report on the agreed Key Risk Indicators and Risk Mitigating Actions in the context of the quarterly Risk Appetite Framework Dashboard

PURPOSE

Part of the EIB Group, the mission of the European Investment Fund (EIF) is to improve access to finance for SMEs and small mid-caps in Europe. We do this by supporting emerging and established fund managers with equity investments and by designing debt financing instruments that share the risk taken by financial institutions when they lend to or invest in small businesses. We bring this support closer to entrepreneurs through our extensive network of partners and financial intermediaries in all EU Member States and associated countries.

RESPONSIBILITIES

At a level commensurate with your experience and seniority, you will:

• Ensure validity and completeness of the Internal Control Framework (ICF) and Risk & Control Matrix (RCM), and monitor the proper implementation of recommendations and conclusions;
• Challenge EIF services’ controls;
• Propose improvements in terms of policies’ updates and implementation of processes, as well as reinforcement of control activities;
• Develop efficient and coherent concepts for the incubation of a permanent, central and transversal Internal Control Function;
• Develop and maintain a process and methodology for the regular testing of internal controls;
• Evaluate and integrate information from other testing such as external or internal audit findings, operational risk events, ISAE 3402, amongst others, in order to orientate the testing to be performed;
• Assess and monitor the risks of the institution and to what extent they (may) lead to reputational and/or financial impacts;
• Contribute to the selection/deployment of appropriate IT tools to ensure the institution complies with its requirements;
• Coordinate and support the annual independent ISAE 3402 audit exercise;
• Contribute to the ICF and ISAE 3402 annual reports to the Chief Executive and Deputy Chief Executive, Board of Directors and Audit Board;
• Monitor and report on the agreed Key Risk Indicators and Risk Mitigating Actions in the context of the quarterly Risk Appetite Framework Dashboard.