Banque Internationale à Luxembourg (BIL) is one of the biggest banks in the Grand Duchy and offers retail, private, corporate and institutional banking as well as treasury and financial market services.
Most of BIL’s 2000 employees work at the headquarters in Luxembourg city - this centralized setup promotes swift, agile decision-
making and short reporting lines, enabling BIL to offer clients innovative solutions for their changing needs.
Responsibilities You will be responsible for a multiple hatted role towards the internal and external clients of Distribution and Structuring.
For the Structured Products and structuring activities (on various product types, all offered by BIL SA) the job holder acts as a senior structuring contact and will provide proactive analysis, ideas and solutions in relation to structured products to be priced and issued, other financial instruments and vehicles that may be used to create and enhance the required payoff or risk to return that the client is looking for.
The job holder has a strong focus on risk parameters and control of the implication to both the Bank and the client.
The Structured Products team is the owner of the structuring, distribution, trading of back to backs, execution and counterparty risk monitoring for the entire Private Bank, Corporate and Institutional Bank and Retail network.
The overall competence as such is centralized for the entire Bank.
The job holder supports the internal and external clients, with structuring new and existing payoffs, variations of or full-
fledged hybrid solutions, product development, idea generation, pricing and execution (for structured products), product approvals, product management, processes and policies and standards, product risk management, investment advisory & related tooling development, communication and project management.
The job holder will have to operate in an international environment across multiple locations, jurisdictions and a mix of cultures.
The job holder works intensely with Wealth Management, Corporate & Institutional Banking and Retail to examine the needs of the respective clients in order to meet these needs when developing and constructing products & solutions.
Looks for win-win situations.
Ensures that clients understands the structures proposed.
You will report to the Head Distribution and Structuring.
The position main purpose is to act as the expert for structuring, model constructions (creation, reengineering and calibration) and idea generation for new and existing structured financial products for the different clients, serviced by the department.
The solutions in structured products may range from leverage to vanilla and delta-1, as well as fiduciary, SPV repacks, syndicated loans, Structured Deposits, CDOs, ABSs, MBSs, Islamic finance structures, ESG underlyings and solutions, across all investment assets classes.
Also the facilitation of creating more effective and efficient ways for the current structuring process, from pricing, issuance, documentation and life-
cycle management to implementation of new tooling is an integral part of the job.
The usage of tooling such as programming languages is crucial in the fulfillment of the purpose of the job.
Creating and maintaining standards for supporting the different clients (both internally and externally), with idea generation, product development, product approval, processes and policies, product risk management, product valuations, issuance, sourcing and execution, communication and implementation of special projects and where applicable in safeguarding the integrity of the investment product & services processes towards regulators and with attention to the interests of the customers, across the internal network, is all part of the job.
The focus of the job holder is on facilitating and supporting the internal and external clients with optimal and efficient value add, whilst safeguarding the integrity of the Structured Products services processes versus clients and regulators.
Next to the internal network, the role entails external structuring and distribution of the products in scope.
Structured Investment Solutions and enhanced vehicles like notes, certificates, deposits etc., have a very high degree of complexity, associated with the necessity of a high level of responsibility regarding due diligence of the aforementioned products, it is an integral part of the job.
The job is well suited to a dedicated senior professional, with strengths in analytical, risk awareness and programming skills, with highly complex investment products including due diligence responsibilities and affinity for investment advisory and discretionary portfolio management services.
The job holder supports the commercial viability of the products and assesses continuously the construction process of the products in question with focus for more efficient and effective manner from origination to secondary market and lifecycle management.
In this role the job holder guards the Bank s reputational and possible claim risk as to the Products offered to our clients.
The position holder is responsible for creating and maintaining products and solutions in which the long-term focus on customer needs is the starting point.
Encourages an approach that places the customer in a center stage, with an eye for the desired product yield.
Seeks to strike a balance in the interests of the customer and the Bank, where the customer’s wishes and needs are key.
Creates transparent and consistent solutions both in products and processes.
Structuring Has the responsibility for all products in scope to create concepts, models and methodology for pricings and valuations.
Has the main responsibility to structure product ideas in line with client s objectives, investment policy of the Bank or short term opportunities in favor of the customer.
Processes Delivers dedicated results, to the agreed KPI’s, in creating more efficient and effective processes in, Product Description and management of issuing programs like MTN, CP etc.
and support life-cycle management of outstanding products, issuance of new ones and documentation (both regulatory and marketing).
Stakeholder Management In the central stage of fulfilling the job, very active and well done stakeholder management is required.
Working together in a team spirited approach with the internal client base (Retail, PB and CIB) but also the colleagues from P&M such as Advisory, DPM, Execution Teams and Trading as well as the different support team (Operations, IT, Risk, Legal and Compliance).
Also the contribution to the different product approval committees or other internal committees is a crucial part of the stakeholder management.
Risk and Compliance Given the nature and type of products, the risks (reputational and client risk) are naturally considered of the utmost importance.
Supports the internal client base and network by operating an overview of legal and compliance issues regarding solutions and associated requirements like marketing restrictions and regulation.
Advises on duty of care related questions (e.g.
should we pro-actively inform, advises clients on risk issues developing, how will the reporting be done, creation of reporting).
Advises on regulatory alignment together with Tax, Legal and Compliance.
Provides risk analyses on product development proposals and makes recommendations to the Head of Distribution & Structuring as to conditions or restructuring of the product(s) or service(s) when relevant.
Reviews randomly the Back to Back positions embedded in the structured products and provides advice to the Head of Distribution & Structuring.
Training / Project Management In coordination with the overall department Products & Markets supports and contributes to product training programs to further build the know-
how of advisors, private bankers, in particular in the area of Structured Products solutions.
Trains and follows-up the international network, members of different projects (targets, milestones, and deliverables) and staff working on products and solutions.
Must Have Requirements You have : 7 to 12 years of experience in structuring, pricing in an quantitative related job Master degree in Finance, Mathematics or Econometrics Experience in Asset Management, Investment Banking and or Private Banking Demonstrated knowledge of products payoffs and pricing set-
up Demonstrated knowledge of products documentation creation (PRIIPs, Final Terms, EMTN etc.) Heavy understand / Strong competence in creation of algorithms Programming skills of at least Visual Basic and C++, additional program languages are a plus (Python, Mathlab and others) Fluent in English (must) plus another European language, French is an advantage You are : A team player with high level of Problem Solving abilities, Result Oriented and team spirited.
High level of Ethics is expected.
Communication and commercial awareness are a required to be able to bring over the message to your colleagues and the internal organization.
Last but not least, you have a strong technical background in programming and complex investment products.
Technical skills, like VBA, C++, Mathlab, Python are crucial for this role.
Nice To Have Requirements Next to English, additional languages are welcome.
Education level : Master's Degree Work experience : 7-10 years Start contract date : 19-03-19 Contract duration : Undefined