RB Rail AS is looking for a new enthusiastic COLLEAGUE to join its growing team in a position of Member of the Management Board / Chief Financial Officer.

Rail Baltica is the largest Baltic transport infrastructure project that will create the North-South railway axis and economic corridor. It will be an electrified, high speed railway line with modern infrastructure for passenger and freight services, ensuring environmentally friendly and fast transportation from Tallinn to Warsaw and onwards. Rail Baltica will connect the Baltic States with Central and Western Europe. The project is largely co-financed by the European Union. It must be well-governed, with clear financial flows and public procurement systems. RB Rail AS is looking for a new enthusiastic COLLEAGUE to join its growing team in a position of Member of the Management Board / Chief Financial Officer.

RB Rail AS co-ordinates a delivery of the new best-in-class, innovative, environmentally friendly railway infrastructure with cost competitive technical solution in the region to improve the long-term well-being of the society of the Baltic States and European community. RB Rail AS plans, develops, and manages all technical aspects of entire Rail Baltica project to achieve cross-border interoperability. RB Rail AS is the three Baltic States' joint venture, it was established in October 2014, is registered in Latvia with the main office in Riga. Main responsibilities of the joint venture is the design, construction and marketing of the railway. RB Rail acts as a main coordinator of the project.


Jointly with other Management Board members the CFO will take full responsibility for RB Rail AS day-to-day management in line with the applicable legislative acts, Shareholders' Agreement, statutes, Management Board Regulations, strategy and corporate targets as approved by the Supervisory Board as well as binding agreements.



  • Master's degree with specialization in Economics, Finance, Business Administration or other relevant science.
  • Experienced senior executive level business manager and a team-leader able to cope with the multi-stakeholder, multicultural and multilingual nature of the joint venture.
  • Experience in large-scale project financial planning, structuring, modelling, and managing.
  • Work experience with the European Union funds.
  • Corporate finance knowledge.
  • Experience with preparation of cost benefit analysis and business plan.
  • Project management skills.
  • Fluency in business English.


  • Experience in senior executive position in a large local or international company or organisation.
  • Extensive multi-stakeholder relation management experience on finance management matters including shareholder, state, regulatory, supplier, client etc. at national and the EU level.
  • Experience in working with the EU institutions.
  • Experience in the EU grant submission, management and reporting.
  • Experience with infrastructure projects.
  • Work experience at/with state owned enterprises.
  • Understanding of public procurement process.
  • Experience in change management.
  • Knowledge of Estonian, Latvian or Lithuanian language.


  • High ethical standards, honesty and impeccable personal and business reputation.
  • Ability to overcome various business, political and cultural challenges of the project and ability to deal with risk, uncertainty, and complexity.
  • Ability to cooperate with multiple stakeholders.


  • Plan, develop, ensure and manage the finances of the global Rail Baltica mega-project development.
  • Manage and control of institutional and multilateral corporate finance including working capital.
  • Cooperate with local, regional, national, and international stakeholders ensuring funding, transparent and clear financial flow.
  • Plan the project's financial operations, define risk areas and monitor frameworks of the regulations.
  • Coordinate financial aspects among stakeholders by building consensus and maintaining sustainable relationships. Maintain close cooperation with the EU institutions, national governments, implementing bodies, financial organizations, public organizations and media.
  • Lead and direct the following functions and/or business units: Financial Planning and analysis, Global project and RB Rail Funding, Accounting and controlling, Reporting, Audit Management, Cost control, Public procurement.
  • Act as part of the Management Board with its relevant competencies and joint responsibilities.
  • Support the CEO in the development of the company's strategy, incl., but not limited to financial matters, functions of business units reporting to the CFO.
  • Perform strategic stakeholder consultations with a view of developing the strategy and long-term corporate goals in line with the Global Project's master plan, financing and other agreements.
  • Promote effective goal-oriented relationships and open communication and creating an environment that allows constructive debates and challenges, both inside and outside the Management Board meetings, allowing to align and effectively execute decisions.
  • Plan, develop and ensure effective implementation of activities entrusted to RB Rail AS by the project beneficiaries and implementing bodies in the project countries.
  • Coordinate cross-border matters and interests between member countries, build consensus building and sustaining relationships, as well as coordinating keep constant communication with the public about the project's progress.


  • Manage a unique, pan-Baltic infrastructure mega-project with extensive EU investment and state co-financing.
  • Plan and ensure transparent budgeting and cashflow according to Project Gantt chart and conclude Grant agreements with the relevant EU institutions.
  • Facilitating consensus between stakeholders regarding planning, designing and construction phases and processes.
  • Organize RB Rail AS engagement with governments of the Baltic States and key external stakeholders.
  • Assuring coordination, alignment and common understanding with the project beneficiaries, implementing bodies and RB Rail shareholders as well as maintaining a "one voice" approach towards the EU institutions.
  • Face a complex and changing multi-cultural and multi-stakeholder environment.
  • The CFO is elected by and reports to the Supervisory Board. 


  • RB Rail headquarter in Riga. Work from offices in Tallinn or Vilnius, when required.
  • Base salary 6000 EUR (net), annual KPI based bonus and benefits. 

If you feel that your experience and personality match the position and you are willing to be a part of the challenging and unique project, please, send your (1) CV, (2) motivation letter, and (3) Candidate confirmation document (available below) in English, with the subject "CFO" to RB Rail AS recruitment partners ASTRAL Executive Search: 

By submitting this application (CV, motivation letter, etc) the applicant provides the authorisation for the processing of personal data by RB Rail AS ("Controller") and SIA ASTRAL Executive Search, Reg. No 40203075122, as its respective recruitment partners. The personal data indicated in the application documents will be processed for the purposes of the recruitment and hiring processes only as is legally permissible under Art. 6(1)(f) of Regulation (EU) 2016/679 (General Data Protection Regulation).



ASTRAL Managing Director +371 26177655

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