Quantitative Development Officer

Quantitative Development Officer at European Investment Bank (EIB)

This position is based at our Luxembourg headquarters and requires regular office presence. The European Investment Bank (EIB) offers you the opportunity to live and work in a truly international and multi-cultural environment, along with relocation support.

The EIB, the European Union's bank, is seeking to recruit an (Associate) Quantitative Development Officer for its Finance Directorate (FI), Strategy, Policies & Business Support Department (SPBS), Quantitative Implementation Unit (QI) at its headquarters in Luxembourg. This is a full-time position at grade 4/5 for which the EIB offers a permanent contract.

Purpose of the Role

The Quantitative Implementation Unit (FI/SPBS/QI) supports the Finance Directorate in the design, implementation, and evolution of quantitative models. These models cover treasury, capital markets, and financial management topics handled in the 1st Line, such as interest rate, FX, liquidity, and counterparty credit risks.

Operating Network and Key Features

You will report to the Head of Unit and work under the supervision of senior colleagues. The day-to-day delivery combines business analysis discipline with quantitative development skills to translate policy/methodological objectives into usable, controlled solutions that operate reliably in production.

You will collaborate closely with FI/SPBS divisions (FPM for methodological and policy, OSM for operations/production, SDM for systems and data), GIS/IT for industrialisation and architecture, and with Risk Management, Financial Control, and Internal Audit on governance, validation, and assurance.

Key features of this role include:

• End-to-end delivery from discovery to controlled production, spanning requirements, data, prototyping, specification, testing, validation, release, and run, often across multiple systems and teams.
• Control consciousness, ensuring evidence (reconciliations, approvals, logs) and documentation meet expectations and are audit-ready.
• Stakeholder alignment across business, IT, and control functions, balancing methodological rigor with operability and timelines.
• A strong collaborative spirit and cross-directorate teamwork, actively participating in mixed delivery squads (FI + Risk Management quant developers, supported by GIS/IT), operating with shared standards and backlogs while respecting independence across the Lines of Defence.
• Continuous improvement to enhance robustness, performance, user experience, and process simplicity where feasible.

Accountabilities

As a Quantitative Development Officer, your responsibilities will include:

• Implementing and maintaining quantitative models supporting FI activities and strengthening the 1st line of defence within FI, in line with industry standards and market practices (e.g., valuation and xVAs, ALM/IRRBB metrics, Fund Transfer Pricing). You will also support the design and evolution of these models.
• Eliciting and structuring business needs by capturing objectives, constraints, and acceptance criteria; producing clear, testable functional and non-functional requirements; ensuring end-to-end traceability from requirement to controlled production.
• Engineering and analyzing data: sourcing, reconciling, and quality-checking inputs; designing robust data queries and controls; performing exploratory analysis; producing decision-ready outputs (dashboards, reconciliations, exception reports) for business and control stakeholders.
• Prototyping and specifying solutions: developing lightweight analytical prototypes (e.g., Python/Excel/SQL) to validate concepts and performance; preparing functional and technical specifications for industrialisation by GIS/IT and/or vendors; ensuring alignment with architecture and security standards.
• Testing, validating, and evidencing controls: defining test strategy and cases; coordinating UAT and defect triage; supporting back-testing and independent validation; embedding control evidence (4-eyes, reconciliations, run logs).
• Delivering change and managing stakeholders across FI/SPBS divisions and GIS/IT and partner functions (Treasury, Risk Management, Financial Control, Internal Audit); running workshops.
• Documenting and maintaining methodologies, assumptions, model/process changes, test results, and user guides to an audit-ready standard; contributing to consolidation and rationalisation of models and applications.
• Supporting production and continuous improvement: monitoring runs, analyzing incidents to root cause, and implementing enhancements that improve stability, performance, controls and user experience.
• Representing the Division in working groups and committees as requested; advising FI colleagues on the above-mentioned areas; preparing opinions and technical briefing notes.
• Supporting innovation adoption: identifying opportunities to apply innovative technologies (e.g., AI assisted analysis, coding, testing, and document intelligence), running focused proofs of value, documenting benefits and risks, ensuring compliance with internal controls, and preparing clear specifications for industrialisation with GIS/IT.

Qualifications and Skills

To be successful in this role, you should possess:

• A university degree (minimum equivalent to a Bachelor's) preferably in a quantitative or information-systems-relevant field (e.g., Financial Engineering, Applied Mathematics, Statistics, Computer Science, Business Information Systems, Finance with strong analytics). Post-graduate studies and/or professional certifications (e.g., PRM/GARP, CQF, CBAP, Scrum/Agile) are an advantage.
• At least 3 years of relevant professional experience, preferably acquired in a major consultancy firm, major financial institution, central bank, or major international organisation. This experience should cover both quantitative topics and business analysis delivery with proven end-to-end execution from requirement to production.
• Relevant experience with pricing/valuation and risk measures, ALM/IRRBB, and/or FTP; ability to interpret model outputs and translate them into business actions.
• Hands-on requirements engineering and process modelling; coordination of UAT, release readiness and post-go-live follow-up; preparation of decision notes and user guides to an audit-ready standard.
• Strong SQL and Excel skills; strong knowledge of Python for analytical prototyping/automation; familiarity with visualisation (e.g., Power BI or equivalent) and backlog/test management tools (e.g., Azure DevOps/Jira). Understanding of version control (Git) and basic CI/CD practices is desirable.
• Experience embedding control evidence (reconciliations, approvals, run logs) and interacting with model validation and/or internal/external audit.
• Good interpersonal skills and a client-oriented/service mindset.
• Good organisational skills and capability to prioritise.
• Excellent knowledge of English and/or French, with a good knowledge of the other. Knowledge of other EU languages would be an advantage.

Key Skills/Competency

• Quantitative Modeling
• Business Analysis
• Python Programming
• SQL
• Risk Management
• Financial Engineering
• Data Analysis
• Requirements Engineering
• Model Validation
• Stakeholder Management