ABOUT THE COMPANY:

The European Investment Fund (EIF) specializes in enhancing access to finance for small and medium-sized enterprises (SMEs) and innovation-driven ventures across Europe. By providing equity investments, guarantees, and risk-sharing instruments, EIF supports the growth and competitiveness of businesses, particularly in underserved sectors and regions. Its initiatives aim to foster entrepreneurship, drive economic development, and stimulate job creation throughout the European Union and beyond.

JOB SUMMARY

The European Investment Fund (EIF) is seeking to recruit for its Financial Services Department (FS) – Expenses Accounting and Monitoring Division at its headquarters in Luxembourg, a Procurement and Cost Control Budget Officer*.

This is a full time position (no travelling required) at grade 4/5 for which the EIF offers a permanent contract.

*internal benchmark: Officer

This is a generic campaign in the view of addressing both current vacancies and to a create reserve list for future vacancies.

Retention of the reserve list will be for a maximum period of 18 months.

Panel interviews via video-conference are anticipated for September 2024

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:

As a Procurement and Cost Control officer, your role encompasses managing the entire operational cycle related to administrative and employee expenses, ensuring strict compliance with the Procurement Policy.

Depending on the position, the successful candidates will oversee all purchasing activities of the organization, ensuring contract awards provide value for money and comply with the relevant internal processes.

You will be responsible for recording of all EIF’s and Mandates expenses and associated accounting entries to ensure the financial records are complete and accurate. You will closely monitor expenses, regularly report to the managers to optimize the usage of the budget, focus on costs containment, and deep dive on costs and provide recommendations to the Division head for initiatives to propose to Management.

The Procurement Officer position requires an expertise in goods and services procurements within a financial environment with a specific focus on consultancy services, and/or in procuring on behalf of alternative investment vehicles such as venture capital, private equity or business angels funds.

The Cost Control Budget Officer requires strong understanding of budget, financial planning and cost control and proficiency in financial analysis.

Operating network:

You will report to the Heads of Expense Accounting & Monitoring Division and will work in autonomy in close co-operation with the entire Department and other services inside EIF as well as relevant services inside the EIB Group.

You will also liaise with providers of services and supplies and with the European Commission in the context of inter-institutional calls for tenders.

Responsibilities:

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

• Actively contribute to the annual Corporate Operational Plan exercise.
• Actively contribute to the overall EIF cost containment.
• Conduct financial and cost-benefit analysis to challenge Procurement requests and costs.

   

• Foster an overall culture of cost monitoring & containment for EIF and on behalf of Mandators.
• Prepare, present and analyse detailed reports regarding EIF costs and Procure-to-Pay activities.

  Make recommendations to guide management in cost-saving initiatives.

• Make recommendations on improvements, streamlining and efficiency gains in the division’s processes based on experience.
• Ensure that the Division’s Key Performance Indicators are met as well as best practice and latest market trends are applied.
• Be point of contact for European Commission or other EU Agencies and external auditors.

Procurement:

• Challenge and provide advice to the Requesters for new calls for tenders.
• Hold responsibility for executing Procurement related processes including administering and managing all types of procurement procedures; chairing the evaluation panels and draft the related evaluation sheets and reports in case of competitive procedures; consulting Compliance function and/or the Legal services whenever their involvement is needed; draft the associated procurement documents, in particular the (Assignment) Terms of Reference, incl.

  the selection and award criteria.

• Monitor the utilisation of active contracts, including call-offs under a framework agreement, approving the related Requisition/PO.
• Actively contribute to the Strategic Sourcing of services providers for Mandates and Products and other Sourcing activities within the Organization (Procurement – Execution).
• Ensure that procurement activities are performed in an effective way, in line with EIF’s interests and in compliance with the relevant legal framework (EU Dir.

  2014/24/EU).

Cost Control Budget:

• Develop, implement, and monitor the annual budget and financial forecasts.
• Closely monitor actual expenditures against the budget, identify and explain variances.
• Monitoring of the monthly accruals/purchase orders to ensure accuracy of the monthly expenditures.
• Collaborate with the procurement team to ensure cost-effective purchasing practices.
• Track and record all administrative and employees’ expenses.

  Ensure accuracy and completeness of financial records for all the expenses.

• Maintain external and internal relations relating to Cost Control and budget activities.

Qualifications:

• 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 in public procurement’s administration preferably within a European body or a multilateral organisation or a Financial Control/Financial Analyst function preferably gained in the investment fund or banking sector.
• University degree preferably at postgraduate level in law, in Business Administration, Accounting, Finance, or a related field.
• Very good understanding of the EIF’s mission, procedures and activities.
• Sound knowledge of EIF’s annual Corporate Operational Plan or Sound knowledge of EU Dir.

2014/24/EU on public procurement.

• Proficient knowledge of MS Excel (and ideally VBA), very good knowledge of the other standard MS Office tools
• Excellent command of written and spoken English and very good knowledge of at least one further EU working language.

Knowledge of other EU languages would be an advantage.

• Good knowledge of generally accepted accounting principles; basic knowledge of International Financial Reporting Standards (IFRS) and European Directives on accounting standards would be an advantage.
• Knowledge of software applications such as PeopleSoft Financials, Business Objects, and payment applications would be an advantage.

Competencies:

• Cost control oriented with strong capacity to analyse cost trends and formulate recommendations.
• Very good analytical and problem-solving skills as well as critical advice capability.
• Ability to work under pressure and meet deadlines.
• Quality focus and strong sense of ethics with the ability to keep sensitive information confidential.
• Clearly demonstrated track record of performance and achievement in a fast paced, complex and internationally orientated environment.
• Excellent team-working abilities.
• Strong communication skills – both written and oral.

Deadline for applications*: Friday, 30^th August 2024

Applications of women and/or candidates from countries under-represented in EIF (DEU, NLD, POL, DNK, SWE, AUT, CZR) are encouraged.

We are an equal opportunities employer, who believes that diversity is good for our people and our business.

We encourage all suitably qualified and eligible candidates to apply regardless of their gender identity/expression, age, racial, ethnic and cultural background, religion and beliefs, sexual orientation/identity, disability or neurodiversity.

Applicants with specific needs are encouraged to request reasonable accommodations at any stage during the recruitment process.

Please contact the EIF Recruitment team Recruitment@eif.org who will ensure that your request is handled.

By applying for this position you acknowledge the importance of maintaining the security and integrity of the Information of the EIB Group.

In case of selection for the position you agree to comply with all measures (policies, controls, document classification and management) implemented by the EIB Group to prevent unauthorized disclosure of any information or any damage to the EIB Group reputation.

Candidates are informed that pre-employment integrity screening is an integral part of the EIF recruitment process.

* Due to high volume of applications, only candidates selected for interviews will be contacted.

REQUIRED EDUCATION: Bachelor Degree

EXPERIENCE REQUIREMENTS: 60