(Senior) Product Development Officer

at  European Investment Fund

EIF POSTING

The European Investment Fund (EIF) is seeking to recruit for its Mandate Design & Product Development Department (MD&PD) – Products & Pilots Division at its headquarters in Luxembourg, a (Senior) Product Development Officer*. This is a full-time position (occasional travel required) at grade level 4/5 - F/E for which the EIF offers a permanent contract.

• Internal benchmark: (Senior) Officer

Panel interviews via video-conference are anticipated for March 2025

OPERATING NETWORK

You will report to the Head of the Products Standardisation Unit. You will cooperate with all Investment Office (“IO”) Departments, and particularly with the other two Units (Equity Products & Pilots, Guarantees Products & Pilots) in the Division, the Sustainability & Innovation Division and the Competitiveness, Cohesion & Social Impact Division (jointly the “Thematic Divisions”) in MD&PD, the Mandate Origination & Relationship Management Department and the transactions teams. You will interact with Risk Management, Legal and Strategy Departments. Furthermore, you will liaise with EIB counterparts, for the main purposes of seeking Group strategic alignment consistently with the specificities of EIF products, as well as with external counterparts (e.g. financial intermediaries) for the main purposes of gathering market intelligence and feedback on EIF products.

QUALIFICATIONS

• University degree, preferably at postgraduate level, in Finance/Economics/Law or a related field.
• At least three (3) and no more than five (5) years of post-graduation (after having obtained your initial university diploma) relevant professional experience at the same level of responsibility within the product development field in an IFI or a financial institution.
• Understanding of the policy objectives of the EIF financing programs/mandates, and of the eligibility criteria applicable to the underlying financing.
• Thorough understanding of the EIF’s objectives, strategies and policies, with ability to understand its political, statutory and operational framework and its role within the EU.
• Any – or combination – of the following would be an advantage:
• Expertise in equity or structured finance transactions, and/or publicly/EU-funded financial instruments;
• Prior experience in multicultural environments or international organizations.
• Fluency in English and very good knowledge of at least one further EU language. Knowledge of other languages would be an advantage.

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

• Contribute to the development and maintenance of baseline portfolio eligibility terms and conditions for intermediated equity and debt products, with the support of the Thematic Divisions in MD&PD. You will focus on core products by funding source and thematic area, aiming to maximize consistency and facilitating implementation across the products portfolio.
• Contribute to the definition and maintenance of guidelines for product eligibility, reporting standards, and the associated operational tools, in cooperation with the Client Services teams, Mandate Origination & Relationship Management and Thematic Divisions in MD&PD.
• In cooperation with the Client Services Department, support the Equity Investments Department and the GS&IF Department with the implementation of novel elements in product contractual standards, relevant for the Unit.
• Support the Products & Pilots Units in respect of product features standardization and new products and pilots development, where needed.
• Support the Products & Pilot Units, in the context of the mandate origination and negotiations led by the Mandate Origination & Relationship Management Department, particularly in the case of customization of eligibility packages vis-à-vis baselines.
• Collaborate with the Thematic Divisions in MD&PD regarding regulatory developments expected to impact product standards.
• Contribute to the review of internal and Group policies, Audits, and Evaluations which affect portfolios’ eligibility terms and conditions, and connected topics

EIF 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.

TEAM PURPOSE

The Products & Pilots Division is responsible for product development and maintenance, developing new products and defining product standards in connection with strategic planning frameworks relating to EIF’s mandate (funding) acquisition activities. The Division participates in the approval process of new mandates from the product development side, being in the lead when novel features departing from typical product features arise, and in the case of new products. With its Guarantees Products & Pilots, Equity Products & Pilots and Products Standardisation Units, the Division provides expert knowledge on EIF products and mandates and a horizontal perspective across different mandates and funding lines, seeking product efficiencies and facilitating the onboarding of new products and mandates within the EIF Investment Office.
The Products Standardisation Unit is the central point of contact for terms and conditions of EIF’s operational agreements with Financial Intermediaries, relating to the eligibility criteria of underlying portfolios, stemming from associated sources of funding (i.e. mandates) but also EIB Group policies. It interacts regularly with Mandate Origination & Relationship Management, the Legal Department, the Transaction departments and Client Services to facilitate the clear transposition of policy into contractual and operational implementation on the ground.
The purpose of the role in the Products Standardisation Unit is to contribute to: (i) the structuring of mandates, products and pilots from an eligibility perspective, (ii) the development and maintenance of the product catalogue that can best serve the clients of the institution (mandators, investors and financial intermediaries), (iii) the development and maintenance of products’ contractual standards with respect to eligibility framework, including associated documentation and tools, in alignment with the EIF’s institutional and operational strategy and in close cooperation with the above mentioned teams.

RESPONSIBILITIES

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

• Contribute to the development and maintenance of baseline portfolio eligibility terms and conditions for intermediated equity and debt products, with the support of the Thematic Divisions in MD&PD. You will focus on core products by funding source and thematic area, aiming to maximize consistency and facilitating implementation across the products portfolio.
• Contribute to the definition and maintenance of guidelines for product eligibility, reporting standards, and the associated operational tools, in cooperation with the Client Services teams, Mandate Origination & Relationship Management and Thematic Divisions in MD&PD.
• In cooperation with the Client Services Department, support the Equity Investments Department and the GS&IF Department with the implementation of novel elements in product contractual standards, relevant for the Unit.
• Support the Products & Pilots Units in respect of product features standardization and new products and pilots development, where needed.
• Support the Products & Pilot Units, in the context of the mandate origination and negotiations led by the Mandate Origination & Relationship Management Department, particularly in the case of customization of eligibility packages vis-à-vis baselines.
• Collaborate with the Thematic Divisions in MD&PD regarding regulatory developments expected to impact product standards.
• Contribute to the review of internal and Group policies, Audits, and Evaluations which affect portfolios’ eligibility terms and conditions, and connected topics.