Experienced Portfolio Manager

ESM - European Stability Mechanism

Luxembourg

JOB DESCRIPTION

We are looking for an experienced portfolio manager to join the Investment and Treasury division. The selected candidate will be responsible for managing fixed income portfolios invested mainly in euro-area markets and will report to the Head of Investment and Treasury.

The Investment and Treasury division is in charge of managing, in accordance with prudent investment guidelines and risk policies, portfolios for the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF), including the €80 billion ESM paid-in capital and the liquidity buffers related to ESM/EFSF funding and lending activity. The division provides regular market analysis and actively participates in projects related to investment activities, in particular the implementation of financial instruments. The team also contributes to the development of the investment framework and the implementation of a responsible investment approach. The Investment and Treasury division reports to the Chief Financial Officer/Management Board Member and works closely with Middle Office, Back Office, Risk Management, Asset Liability Management and Financial Structuring, Funding and Investor Relations, Legal and Procurement, Finance and Control, Chief Economist Department, Business Strategy and Project Management, and Information Technology.

KEY ACCOUNTABILITIES

Take investment positions and execute financial operations in accordance with the ESM risk framework and investment processes;
Monitor and analyse portfolio positions and risk parameters on an absolute basis and against benchmark portfolios;
Prepare regular reports for senior management on market developments and investment activity;
Propose and maintain qualitative and quantitative tools, instruments, and performance indicators to support Investment and Treasury activity;
Contribute to the investment decision strategy and participate in the presentation to the Investment Management Committee;
Contribute to the implementation of financial instruments and market tools related to portfolio management;
Contribute to the innovation initiatives, including automation of tasks and development of quantitative and artificial intelligence tools to support the investment process;
Represent the ESM at international conferences and other external events.

KEY BACKGROUND & EXPERIENCE

University degree or equivalent, preferably in economics, finance, or sciences;
At least three years of professional experience managing fixed income assets, either for an international financial institution, a central bank, or an asset manager;
Experience in managing fixed income instruments and good understanding of the risks related to fixed income investments;
Good knowledge of the main fixed income instruments (securities, futures, repos, interest rate and cross-currency swaps);
Experience in programming (Python), and/or using machine learning tools would be an asset;
Experience in using Tableau or Power BI would be an asset;
A professional qualification such as CFA, IFID, CAIA would be a plus;
Experience at other international financial institutions or central banks would be an asset;
Excellent oral and written English skills.

KEY COMPETENCIES

Good analytical skills combined with attention to detail and problem-solving skills;
Creative and flexible thinking;
Proactive and results oriented with a strong sense for processes and procedures;
Ability to develop and maintain effective working relationships with business areas;
Team player with a proactive ‘can do’ attitude;
Ability to work in a fast-paced environment;
Ability to help to foster a respectful, diversity-friendly, and inclusive work environment in line with ESM values and behaviours.

PRACTICAL INFORMATION

Deadline for application: 18 July 2024;
Employment grade: Officer/Senior Officer;
Contract duration: four years;
Place of employment: Luxembourg;
Current working arrangements: possibility to work remotely, normally up to two days a week, from Luxembourg and the border region (or from further away under certain conditions).

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation, or disability. To further enhance the diversity of our workforce, we particularly encourage talents from underrepresented groups to apply.

Note 1: In light of the applications received, the ESM reserves the right to refrain from hiring, or to slightly modify job responsibilities, as needed.

Note 2: As a result of the selection process, please note that you may be placed on a ‘reserve list’ valid for a duration of six months during which you might be considered for a similar position with a similar level of requirements. Only those candidates who have been notified will be placed on the ‘reserve list’. After this period, you will need to apply again for our vacancies to be considered for a different selection process.

ABOUT US

The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. To date, the ESM and its predecessor organisation, the European Financial Stability Facility (EFSF), have launched six financial assistance programmes to five countries, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest.

The ESM is a unique place to work with around 230 individuals committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sectors. The ESM’s senior management is committed to preserving and enhancing a diverse, inclusive recruitment and work environment.

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