SANCTIONS PANEL MEMBER

Job Description

NORDIC INVESTMENT BANK (NIB) is an international financial institution owned by the Nordic and Baltic countries. The Bank provides long-term loans on market terms to private and public projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating and acquires the funds for its lending by borrowing on the international capital markets. The Bank has over 250 employees and total assets amounting to around EUR 41 billion. NIB’s headquarters are located in Helsinki, Finland. The working language of the Bank is English.

NIB is seeking a

 Sanctions Panel Member

NIB’s Sanctions Panel is an independent body established by the Board of Directors in support of the Bank’s commitment to addressing fraud, corruption and other prohibited practices[1].

In accordance with NIB’s Enforcement Policy (available here), the Sanctions Panel determines the appropriate sanction for prohibited practices occurring in relation to projects financed by NIB. The Panel works closely with NIB’s Integrity & Compliance Office (‘ICO’), which is responsible to conduct investigations of prohibited practices.

The Sanctions Panel is comprised of three members; two external members appointed by the Board of Directors, and one internal member nominated by the President on a case-by-case basis. The initial term of the appointed external members of the Panel is five years and can be renewed once by the Board of Directors for an additional term not exceeding five years. The longest serving external member at any time shall be the Chairperson.

Meetings of the Sanctions Panel are convened by ICO and may be held at the Bank’s headquarters in Helsinki or online. The workload of the Sanctions Panel will depend on the number and complexity of the cases reported to the Bank. In recent years, the number of cases that have been subject to a sanction decision has been small. It is estimated that a case would require less than five working days per Panel member.

The language of the proceedings of the Sanctions Panel is English.

Primary responsibilities 

• The Sanctions Panel members will review ICO’s investigation reports which includes the findings, evidence and recommendations.
• Based on the standard of proof defined in the Enforcement Policy, the Sanction Panel will determine if an external party to the Bank has committed a prohibited practice in relation to a project financed by the Bank or another activity of the Bank.
• The Panel will decide whether a sanction is warranted against the individual(s) and entity(ies) concerned, and if warranted, decide the type and length of sanction based on the severity of the case.
• The Panel will write and communicate its decisions as described in the Enforcement Policy.

 Qualifications and experience 

• High level of integrity and independence.
• Familiarity with the concepts of prohibited practices, including fraud and corruption, and related rules of other international organisations and/or private sector.
• Prior experience with the debarment process of an international financial institution or determining arbitration cases, is strongly preferred.
• Proven track record of having the ability to grasp complex cases, including weighing various factors and making difficult decisions based on available information.
• Experience in fields of operations similar to NIB.
• Master’s (or equivalent) degree combined with a minimum of 10 years experience in managing fraud and corruption issues.
• Fluency in both spoken and written English.

 We offer you

• An important role within the area of anti-corruption and business integrity.
• Remuneration based on a daily fee for each day worked on a case, including days of preparation and Panel meeting(s). Reimbursement of travel and accommodation costs and other costs related to the Panel’s work.

Additional information about the position can be obtained from the Chief Compliance Officer, Mr. Mark Butler (mark.butler@nib.int). For general information about NIB, and the recruitment process please contact Mr. Julián Cabrera Carrillo, HR Business Partner (julian.cabrera@nib.int).

 The deadline for applications is 30^th October, 2024.

[1] Prohibited practices are defined in NIB’s Integrity and Compliance Policy and are: i) corrupt practices; ii) fraudulent practices; iii) coercive practices; iy) collusive practices; v) theft; vi) obstruction; vii) money laundering; viii) terrorist financing.

The vision of NIB is a prosperous and sustainable Nordic-Baltic region. Our employees are our strongest asset in realising this vision. Our core values are competence, commitment and cooperation.

In recruitment, NIB puts the main emphasis on personal and professional qualifications and experience.

NIB is a professional expert organisation, and encourages employees to continuously develop their professional competencies while maintaining a sustainable work-life balance.