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EIOPA - European Insurance and Occupational Pensions Authority

Principal Expert on Supervisory Processes

EIOPA - European Insurance and Occupational Pensions Authority

Frankfurt am Main, Germany

Ref. 1711TAAD9

The European Insurance and Occupational Pensions Authority (EIOPA) is an independent advisory body to the European Parliament, the Council of the European Union and the European Commission that was established on 1 January 2011.

EIOPA is at the heart of insurance and occupational pensions’ supervision in the European Union. It is part of the European System of Financial Supervision (ESFS) which includes also the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Systemic Risk Board (ESRB).

EIOPA’s core responsibilities are to support the stability of the financial system, transparency of markets and financial products as well as the protection of insurance policyholders, pension scheme members and their beneficiaries.

Further information on EIOPA is available on EIOPA’s website: https://eiopa.europa.eu/.

For its offices in Frankfurt am Main, Germany, EIOPA is currently inviting applications for a position as Principal Expert on Supervisory Processes.

Job description

Major purpose

The successful candidate will, as part of the Supervisory Processes Department – Solvency II Technical Inputs Team, contribute to the supervisory processes of EIOPA, in particular in the field of calculations and publication of the Risk-Free Interest Rate Term Structures and other Solvency II technical processes.

Main responsibilities

  • Manage the development of the operational methodology for the monthly production of the Solvency II technical information, such as the risk-free interest rate term structures and the symmetric adjustment of the capital charge of the equity risk;
  • Lead the work in various Solvency II related processes in specific coding environments (such as Matlab or MS office tools) including coding, testing and documenting the applications;
  • Manage the financial and actuarial calculations of processes, including inter alia the discounting of technical provisions, the calculation of basic risk-free interest rate term structures and the volatility adjustment;
  • Cooperate with all other entities across EIOPA which may need similar data;
  • Contribute to the quantitative analysis related to insurance and pensions;
  • Carry-out other activities in specific areas of EIOPA’s supervisory processes, as required;
  • Any other tasks as required.

REQUIREMENTS

Eligibility Criteria

  • Thorough knowledge of one of the languages of the Communities and a satisfactory knowledge of another language of the Communities;
  • Be a national of a Member State of the European Union, Norway, Iceland or Liechtenstein;
  • Be entitled to his or her full rights as a citizen;1
  • Have fulfilled any obligations imposed by the applicable laws on military service;
  • Be physically fit to perform the duties linked to the post.2

Essential Skills

  • Qualification:

a) a level of education which corresponds to completed university studies, preferably in Economics, Statistics Finance, Actuarial Studies, or Business Administration or a related field attested by a diploma, when the normal period of university education is four years or more; or

b) a level of education which corresponds to completed university studies, preferably in Economics, Statistics, Finance, Actuarial Studies or Business Administration or a related field attested by a diploma and appropriate professional experience of at least one year, when the normal period of university education is at least three years.

  • Have at least 12 years of proven full-time professional experience in a field relevant for this position acquired after the qualification required under a) or b) above;
  • Proven experience and knowledge of the processes and calculations for the production of risk-free interest rate term structures;
  • Good knowledge of Solvency II (e.g. thorough understanding of actuarial and financial implications of the regulatory capital requirements calculations and the valuation of technical provisions);
  • Proven experience in MatLab software coding;
  • Working knowledge of MS Office, in particular Word, Excel and PowerPoint;
  • Very good command of oral and written English, including excellent drafting skills.

Desirable Skills

  • Proven work experience in a multicultural environment;
  • Experience in programming languages other than Matlab related to actuarial and financial calculations;
  • Proven experience of monitoring and extracting data from Bloomberg, Reuters or similar data providers;
  • Proven experience and knowledge of the symmetric adjustment of the capital charge of the equity risk;
  • Very good knowledge of database management;
  • Knowledge of a third EU language.

For the above position, the following behavioural competencies have to be fulfilled:

  • Flexibility in terms of openness to taking over other tasks within EIOPA in view of the dynamic and evolving institutional environment;
  • Excellent team player sharing relevant information and supporting team members, able to work in different teams with different levels of stakeholders in a multicultural environment;
  • Being able to establish and maintain cooperative relationships with staff and management at all levels, both inside and outside the organisation;
  • Being able to have and express a critical view towards own performance and open to learn from experience;
  • Independently engages in tasks requiring interpretation of complex and often vague sets of information; identifies gaps in information and drills down to develop a detailed understanding of key issues;
  • Demonstrates the ability and willingness to assert ideas and opinions without causing offence; adapts and works effectively with a variety of diverse situations, individuals or groups; nurtures and builds open, effective partnerships with others to achieve results; listens critically with an open, unbiased mind;
  • Expresses ideas logically, simply, confidently and with impact, both orally and in writing; demonstrates command of the message; confidently handles challenging conversations;
  • Communicates with integrity, clarity and conviction; maintains composure in face of tough negotiations or challenges; surfaces tensions and resolves ambiguities;
  • Navigates and balances a range of political, national and international pressures to shape Europe’s regulatory environment through effective decision making and standard setting, identifies and evaluates risks and options to develop EIOPA’s strategies.

Function group and grade

AD 9

Monthly basic salary

Step 1: 7.600,25 EUR
Step 2: 7.919,63 EUR

plus specific allowances where applicable*.

Start date

16 November 2017

Contract type and duration

Successful external candidates may be offered an employment contract for three years as a Temporary Agent. The contract may be renewed for a second fixed-term period, and upon its second renewal converted into a contract of indefinite duration.

Reserve list

Possibility of reserve list with validity until up to 12 months, in case of more than one successful candidate.

*Summary of Conditions of Employment

1. Successful external candidates will be classified either in step 1 or 2.

Grade/step3

Monthly basic salary4

Monthly net salary, including specific allowances5

AD 9 Step 1

7.600,25 EUR

7.636,80 EUR

AD 9 Step 2

7.919,63 EUR

7.890,60 EUR 

2. Salaries are subject to a Union tax deducted at source and are exempt from national taxation.

3. Depending on the individual family situation and the place of origin, the successful jobholder may be entitled to: expatriation allowance (16% of the basic salary), household allowance, dependent child allowance, education allowance, pre-school allowance, installation allowance, reimbursement of removal costs, initial temporary daily subsistence allowance, and other benefits.

4. Annual leave entitlement of two days per calendar month plus additional days for grade, distance from the place of origin and in addition on average 15 EIOPA holidays per year.

5. EU Pension Scheme (after 10 years of service).

6. EU Joint Sickness and Insurance Scheme (JSIS), accident and occupational disease insurance coverage, unemployment and invalidity allowance and travel insurance.

7. General and relevant technical training plus professional development opportunities.

Information reserved for applicants employed under Article 2(f) of the CEOS, in EU Agencies other than EIOPA:

According to EIOPA Management Board decision EIOPA-MB-15-072 adopting the implementing rules on the procedure governing the engagement and use of temporary staff under Article 2(f) of the CEOS, and in particular Article 12 (2), if a successful applicant from this external procedure, on the closing day for applications, as well as on the day of taking up duty at EIOPA:

  • is a member of temporary staff under Article 2(f) of the CEOS; and
  • is employed within his/her agency in function group and grade included in the range “AD9 – AD11”,

EIOPA shall offer the applicant, in writing, the opportunity either:

a) to be assigned to the post by means of internal mobility, as per Article 10 of EIOPA-MB-15-072. In this case the contract at EIOPA will be in continuity with the contract of the previous agency (namely with regard to grade, step, seniority in step, and duration);

OR

b) to be assigned to the post on the basis of a new contract (first fixed-term) of three years duration, subject to the probationary period of 9 months, at the grade indicated in the external vacancy notice (AD9).

Application process

The recruitment process will include a panel interview and a written test. In addition, there may be a pre-screening exercise, a presentation to be delivered by the candidate and a bilateral interview.

Applications should be submitted in English language including:

(1) Curriculum Vitae clearly indicating (among all):

  • Qualifications (please list exact dates of your academic qualifications gained);
  • Responsibilities, experience and skills gained in previous positions (please list exact dates of your work experience gained);
  • Nationality/Citizenship;
  • Language skills.

and

(2) Motivation Letter of no more than one page, explaining why you are interested in the post and what would be your added value you would bring to EIOPA if selected.

Applicants will be assessed on the basis of the eligibility and selection criteria specified in the vacancy notice and these must be met by the closing date of the vacancy notice.

Applications should be submitted to recruitment@eiopa.europa.eu, specifying in the subject the reference number above. Deadline for application is 23:59 CET on 3 September 2017 (revised deadline).

The successful candidate will be required to make an annual declaration in respect of any interests which might be considered prejudicial to his/her independence. Before recruiting a member of staff, EIOPA’s Executive Director will examine whether the successful candidate has any personal interest which may impair his/her independence or any other conflict of interest. To that end, the successful candidate, using a specific form, shall inform the Executive Director via the Ethics Officer of any actual or potential conflict of interest.

For more information on the selection process of temporary agents and on the contractual and working conditions, please, refer to:


1 Prior to the appointment, the successful candidate will be asked to provide a Police certificate confirming the absence of any criminal record.
2 Before being engaged, a candidate shall be medically examined by one of the institution’s medical officers in order that the institution may be satisfied that he fulfils the requirements of Article 12 (2)(d) of the Conditions of Employment of Other Servants of the European Communities.
3 Implementing rules concerning classification in step on appointment or engagement of temporary agents.
4 The basic salary weighted by the current correction coefficient for Germany.
5 An estimation of net salary, including the deduction for tax and social security and adding the allowances (this estimation has been calculated with expatriation allowance, household allowance and with one dependent child allowance). Allowances depend in any case on the personal situation of the candidate.

Don't forget to mention EuroBrussels when applying.

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