On April 19, Suleyman Hassan, gave a presentation at Bocconi University about careers at the EBRD, in which he is currently Human Resources Talent Acquisition Partner.
The acronym stands for “European Bank for Reconstruction and Development”. The institution was founded in 1991. Its original scope was to foster development in Eastern European countries which had just abandoned their communist economies after the fall of the USSR in the same year.
Nowadays, the Bank aims at fostering socioeconomic development on a way broader area, spanning from Mongolia to Kosovo. In fact, the EBRD is active in more than 36 economies. Its operations aim at easing transitions toward open, market economies, whilst promoting innovation, growth, inclusion and transparency.
The EBRD is currently owned by 66 countries, the European Union and the European Investment Bank (EIB). EU Members represent the majority of the stakeholders. Nevertheless, the bank receives funds from outside the EU as well.
Before starting operations in a country, the EBRD always tries to secure backing from local governments. Furthermore, the institution does not start programmes in economies where they could be harmful for local financial firms.
As the guest well explained, the EBRD is not a typical investment bank. In fact, besides generating profits as normal banks, it is focused on promoting transition to open market economies, even through high-level policy reform. As it can be read on its official website, the institution is “committed to and applying the principles of multi-party democracy and pluralism”. Moreover, surpluses from banking operations are reinvested into projects aimed at fostering development. Amongst the services the EBRD provides it is worth mentioning advisory for firms and loan syndications. Finally, the institution organises several cultural events and seminars.
Talking about career opportunities, Mr. Hassan explained the different programmes the EBRD has designed.
For what concerns students, the EBRD provides for both graduate and undergraduate internships. Most of them are 6 months long so to allow participants to establish a network within the institution.
In order to participate you must be a citizen of one of the 66 countries which own the bank. The average annual salary is equal to 20,000 euros.
Amongst the qualities and skills which are appreciated is worth mentioning basic knowledge of the financial environment, participation in extracurricular activities and volunteering.
Internships are not advertised. Rather, offers are regularly updated on the EBRD website.
Regarding postgraduate opportunities, the EBRD launched an International Professionals Programme (IPP). Each cohort admitted to the programme is enrolled for 2 years. Next intake will take place between January and February 2019.
In order to participate to the IPP it is necessary to have conducted relevant work experience. Pertinent internships can also satisfy this requirement.
Participants benefit from the total rewards package depending on their experience.
Differently from internships, IPP opportunities are advertised for 2 weeks. Nevertheless, it is important also to check the EBRD website, since there may be places available even after the advertising period.
On average, the EBRD receives around 100 applications for each position. Prepare a strong curriculum, tailored to the position you are applying to, is thus highly recommended.