Job Description

Trading Risk Management | Market Risk Manager & Product Control | Vice President | NYC

About ING :

In Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients.

When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.

We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.

Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the position:

This job is responsible for market risk management and product control (analysis, reporting, and

monitoring) of secondary trading efforts for ABS (asset-backed securities). ABS secondary trading is a new initiative that supports the underwriting of ABS performed in capital markets. The role offers an exciting opportunity within TRM New York to cover market risk and product control aspects for the newly onboarded ABS trading initiative, to learn and to make an impact in a diverse and collaborative team.

About the department:

The TRM department is a central part of ING’s risk management framework, with primary responsibility

for assessing, monitoring, and managing risks of all trading books. TRM is independent from the revenue

generating divisions of the firm and reports to the firm’s Chief Risk Officer and Global Head of TRM. The

regional TRM function is responsible for market risk management and product control of trading books as well as liquidity risk, asset and liability management, and regulatory risk models (including those of

counterparty credit risk).

Responsibilities:

• Manage all market risk and product control aspects of the secondary trading effort for asset backed securities;
• Ensure that controls are in place for complete and accurate monitoring and reporting of P&L and Market Risk;
• Measure, monitor, analyze and report market risk and P&L of the ABS trading books on a daily basis;
• Liaise closely with the trading desk to understand market trends in relation to portfolio changes;
• Perform pro-active risk management by providing analysis and advise to the front office;
• Identify and analyze risks and summarize risk views for senior management;
• Assess a broad spectrum of risks, liaising with other functions as necessary, including credit,
• liquidity, compliance, legal, and regulatory risks;
• Analyze and model transactions, including cash flow modeling and stress testing;
• Collaborate with the regulatory risk team and respond to regulatory requests promptly and accurately;
• Development and implementation of Independent Price Verification (IPV) using independent
• price sources in order to have correct mark-to-market adjustments and valuation of assets and liabilities;
• Perform front office to back office reconciliation in accordance with the firm’s Minimum Financial Control Standards;
• Act as liaison between operations and front office to reconcile breaks relating to P&L and Positions;
• Write documents, develop methodologies and present proposals to the management team and risk committees;
• Prepare month end management information reports including balance sheet and P&L analysis,
• trader month end packages to receive sign-off, and reports used for periodic reviews by internal audit and regulatory bodies of the industry;
• Prepare monthly reporting and reconciliation requirements relating to internal/external audit and SOX deliverables;
• Execute and monitor risk processes and ensure the data quality within these processes;
• Coordinate with the Global Market data team (GMDB), Trading Application Support, System
• Support and other teams to set up new market data sources and to help resolve market data related issues;
• Actively participate in product and regulatory related projects and initiatives, including system
• upgrades, testing and set up of new products, desk/risk management system migrations, MI,
• FRTB, market data sourcing, department audits, risk tooling upgrades / maintaining, roll out reporting solutions;
• Actively participate in regulatory examinations, internal audits (CAS), external reviews (KPMG) and Model Validations (MV);
• Perform ad hoc analysis and implement tactical tools (in Excel or Python) to mitigate situations of non-compliance;
• Actively collaborate with global stakeholders to find strategic solutions;
• Streamline reporting processes and adapt to IT and system changes;

Qualifications and Competencies

• Bachelor’s or master’s degree in Business, Finance, Statistics, Economics or other relevant field of study;
• 3-7+ years of relevant working experience;
• Good knowledge of financial markets and economics, as well as expertise in ABS or related securitized products and capital markets activity; new issue process and secondary trading;
• Strong market risk knowledge;
• Delivery focused with strong analytical skills, and ability to perform cash flow analysis using analytical tools;
• Energetic, able to work independently and take the initiative to drive value;
• Ability to perform under pressure, multi-task and react/reprioritize quickly;
• Strong verbal and written communication skills;
• Excellent organization and problem solving skills are required;
• Professional, pro-active, self-driven, hands-on, collaborative, responsive
• Must be well versed in Microsoft Office applications, in particular Excel VBA. Python and SQL are highly recommended.

Salary Range $150-$200k

In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with commuting and fitness.

ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to race, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.

ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.

Job Tags

Similar Jobs