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Intern - Market Risk & Capital Management / Stagiaire - Risque de Marché et Gestion du Capital

The Council of Europe Development Bank (CEB), established in 1956, is a multilateral development bank with a unique social mandate from its 43 member states. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with a triple-A credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.

 

The Directorate for Risk & Control (R&C), promotes a strong risk and control culture across the CEB ensuring the Bank’s financial stability by identifying, evaluating, monitoring and reporting all risks across the Bank.

 

The Risk & Control (R&C) Directorate is looking for an intern for its Market Risk and Capital Management Unit to work on the models used for the fair value of financial instruments, ALM risk, credit provisioning, and capital requirements. S/he will report to the Head of the Market Risk and Capital Management Unit and collaborate closely with colleagues in the R&C Directorate.

 

Main Responsibilities:

 

  • Calculate the fair value of derivatives and hedged items designated as micro-hedges under IFRS.
  • Analyse the impacts of derivatives valuation on P&L and collaterals.
  • Calculate IFRS 13 provisions on derivatives (CVA, exit price reserves, etc.).
  • Calculate interest rate and liquidity risk indicators (ALM risk).
  • Calculate regulatory capital and leverage ratios.
  • Develop CEB’s model for IFRS 9 credit provisioning.
  • Develop CEB’s economic capital model for credit and market risk.

 

PROFILE

 

Academic background:

  • Graduated within the past 24 months or currently enrolled in the final academic year at an institute of higher education (ideally at a Master’s level or equivalent).
  • Advanced studies in Quantitative Finance, Econometrics, Applied Mathematics, Engineering, or Equivalent.

 

Professional background and skills:

  • Very good knowledge of financial mathematics and statistics.
  • Strong analytical quantitative and problem-solving skills.
  • Sound understanding of and practical experience working with one or more programming languages (e.g. Python, Matlab, R, VBA, others).
  • Ability to learn quickly, reliability, and capacity to deliver.
  • Attention to detail, rigor.

 

Applicants to the CEB Internship Programme are not required to have professional work experience, but any experience relevant to the role would constitute an advantage.

 

Language skills:

  • Excellent command of one of the two CEB official languages (English and French), both oral and written. Working knowledge of the other one is desirable.

 

Core competencies:

  • Adaptability
  • Client Orientation
  • Communication
  • Innovation
  • Result Orientation
  • Team Work

 

Nationality:

  • Citizen of one of the Bank’s Member States: Albania, Andorra, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Holy See, Iceland, Ireland, Italy, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Republic of Moldova, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Türkiye, Ukraine.

 

EMPLOYMENT CONDITIONS

 

Internship duration: The selected candidate will undertake an internship for the duration of 4 months, starting from 15 September 2025. Some flexibility regarding the starting date can be granted to match the Intern’s schedule/requirements of their academic institution.

 

Internship allowance: lnterns at the CEB are paid 1 800 € per month as a flat-rate indemnity to contribute towards living costs, public transportation and accommodation. Travel expenses or other costs are not met by the Bank.

 

Admission to an internship does not confer on the intern the status of a CEB staff member, nor does it confer any entitlement to subsequent appointment on a permanent or temporary basis.

 

 

RECRUITMENT CONDITIONS

 

The CEB welcomes the applications of all qualified candidates who are nationals of CEB member countries.

 

The CEB rigorously applies the principle of equal pay for equivalent work. We are committed to workplace gender equality and strive to ensure the recruitment of suitably qualified and experienced staff without regard to their gender, as well as their age, racial or ethnic origin, religion or beliefs, sexual orientation/identity, or disability. In line with peer international financial institutions, the CEB is EDGE certified (Move level), having demonstrated its commitment to diversity, equity, and inclusion and have been assessed against the highest global standards.

 

In order to minimise bias, our selection processes include steps such as digitally recorded interviews, written tests and interactive interviews. Please note that initial steps in the selection process will typically be conducted online (remotely).

 

Applications from CEB member countries candidates should be made in English or French using the Bank's online application system at CEB Careers before midnight Paris time on  31 August 2025.

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