Head of Funding and Investor Relations

ESM - European Stability Mechanism

Luxembourg

We are looking for a Head of Funding & Investor Relations to manage the funding activities of the European Stability Mechanism (ESM), monitoring the global relationship with banks, institutional bond investors, issuers, debt management offices, and other participants in the fixed income market. The position of Head of Funding & Investor Relations at the ESM is not only pivotal but also exceptionally dynamic and engaging. It offers a unique opportunity to shape the ESM's funding strategy, engage with a global investor base, and lead initiatives in sustainability and digital transformation. The selected candidate will play a crucial role in the ESM's mission, representing the institution on the global stage and driving key projects that influence the broader financial landscape. This is an extremely exciting and key role for the ESM, offering the chance to make a significant impact within the organization, the wider financial community and the broader community.

The selected candidate will be responsible for the division, composed of three sub-teams: Planning and Execution, Investor Relations, and Derivatives and Market Intelligence. The Head of Funding & Investor Relations is a voting member in four internal committees: the Finance Committee, the Internal Risk Committee, the Economic and Financial Monitoring Committee, and the Corporate Projects Committee. The Head of Funding & Investor Relations is part of the Extended Leadership Team comprised of heads from all divisions and reports to the Chief Financial Officer, a Member of the Management Board.

The division executes all funding activities for the ESM and the European Financial Stability Facility (EFSF), manages relationships with a global investor base, manages the derivatives portfolio related to funding transactions, and analyses the market from a quantitative and qualitative perspective. The division also works with debt management offices and in the sovereign, supranational, and agency issuer community.

The ESM/EFSF issue between €25-€30 billion in the market in both euros and US dollars, is active in the derivatives market with a multi-billion book and issues bills and commercial papers. The ESM’s investor relations activities have two objectives: explaining the ESM and EFSF and the euro area to non-EU investor audiences globally (Asia, the Americas, and the Middle East and beyond). Therefore, the selected candidate will be also responsible for furthering the division’s activity, diversifying the funding mix, and being an active participant in various market fora. In addition, the selected candidate will be expected to remain abreast environmental, social, and governance (ESG) and digitalisation topics with an aim to champion sustainability and ESG matters (increasingly important for investors and the public sector), ranging from directly borrowing products to overall reporting. The selected candidate will also be expected to lead the ESM’s digitalisation and technological evolution. Finally, the selected candidate will represent the ESM, including at roadshows, and speak in public events (speeches, panels, etc.), which will require global travel.

KEY ACCOUNTABILITIES

Develop ESM/EFSF’s funding and liquidity plan, maintain the diversified funding strategy, prepare Funding’s contribution to internal committees such as Finance Committee and Internal Risk Committee, and liaise with the Country Team Coordinators;
Manage risks resulting from the issuance in non-euro currencies and/or financial assistance programmes via the execution and management of derivatives transactions;
Develop the ESM/EFSF funding capacity by conducting analysis to introduce new funding instruments/processes/tools and prepare them for implementation. Contribute to initiatives related to financial innovations;
Engage in primary market purchases of bonds or other debt securities issued by ESM Members under the Primary Market Support Facility (PMSF), either via participation in auctions or syndicated transactions. Ensure appropriate management of the acquired position;
Share ESM/EFSF activities and promote its issuances through investor forums, presenting at conferences and roadshows;
Manage all channels relevant for communication with current and new investors, e.g. the publishing of a quarterly newsletter, the creation of investor presentations, updates of a dedicated investor-section of the ESM/EFSF website, etc.;
Monitor developments in the regulatory environment and interact with private and public associations and committees to promote the ESM/EFSF;
Perform a detailed, quantitative analysis of primary and secondary markets and ESM/EFSF investors and their activities for issuance decisions as well as marketing activities conducted by the Head, the Chief Financial Officer or the ESM Managing Director. In addition, maintain and further develop the IR database;
Gather market intelligence, in collaboration with the Economics Market Analysis and Financial Sector and Market Analysis divisions, by combining qualitative market information and quantitative analysis to better understand market developments and be able to identify emerging risks (e.g. to financial stability) earlier;
Manage other relevant external relations (beyond banks and investors) with, amongst others, committees with the International Capital Markets Association, European Debt Management Offices, the EU Platform for Sustainable Finance and European Central Bank;
Advise the ESM management on market related topics;
Manage and develop the team in an inclusive manner and in line with ESM values and behaviours to maintain and strengthen a high level of professionalism within the team;
Ensure team motivation and an appropriate balance of competencies and resource allocation to achieve the division’s strategic objectives;
Ensure the recruitment and retention of staff, optimise individual and collective performance, actively manage issues in the workplace;
Interact with various internal departments such as the Asset Liability Management, Economic Risk Analysis, Risk Management, Legal, and Investment teams;
Be flexible to travel regularly.

KEY BACKGROUND & EXPERIENCE

University degree in a related field;
At least 15 years of relevant experience in debt capital markets and public sector funding, ideally with a minimum of five years in a similar role and level of responsibilities;
At least five years of professional experience in a people management role, including motivating, inspiring, and developing diverse and multicultural teams;
Experience in interacting with financial institutions, market agents, sales desks, etc.;
Experience in interacting with investors and journalists;
Proven track record of establishing network with banks and public sector issuers;
Good knowledge of debt capital markets, the financial sector and the European institutions;
Good knowledge of derivative products (options, IR-Swaps, CDS. structured products);
Fluency in written and spoken English, other languages are considered an asset.

KEY COMPETENCIES

Leadership and management;
Innovative, critical and strategic thinking;
Leveraging diversity and inclusion;
Developing self and others;
Resilience, flexibility, comfortability with change;
Risk management;
Presentation and negotiation skills.

PRACTICAL INFORMATION

Deadline for application: 14 October 2024;
Employment grade: Head of Division;
Contract duration: five-year fixed-term contract, with possibility of extension;
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 women to apply.

Note 1: 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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