We, the Market Risk Management team of ING NL, are an energetic team of highly qualified professionals, responsible for managing the balance sheet of ING NL. We do this by hedging our interest rate and liquidity risks in close cooperation with the ING Group Treasury department. We maintain close relations with our business stakeholders, advise them on product and pricing changes and make them aware of all relevant (macro-economic) trends and consequences such as the developments of the interest rates in the market.

The Team

Our Market Risk Management team consists of about 30 experts, determined to advise our business stakeholders to deliver on our purpose to achieve sustainable progress for all. Client behaviour is crucial to us and we use lots of data to explore, model and forecast it with state-of-the-art modelling methods and technologies. The position offers excellent opportunities to broaden your market risk / asset & liability management and data analytics competencies while further developing your soft skills by advising and collaborating with our stakeholders. We work in an agile way and we believe that empowerment is crucial for you to flourish and be successful.

Besides our core ALM activities, our team is involved in strategic programs such as the full migration to the target ALM solution of ING Group built in QRM and the transfer of the mortgages administration to STATER. Hence, this position offers opportunities to contribute to these impactful change programs as well.

Role & Responsibilities

We are looking for a colleague who wants to develop a successful career in managing market risks.

You will become responsible for managing roughly EUR 150-180 bio. of assets and liabilities contributing to around one-third of the overall ING P&L. You will perform this responsibility in one of our squads.
Your main task is to hedge the balance sheet in order to realise a stable margin and Net Interest Income for ING. The hedges are largely dependent on client behaviour, so you will monitor and model the behaviour and spot emerging trends using big data analytics.
Because our hedges influence the cost price of our products, you will be asked for advice by the business tribes in pricing and product decisions. In doing so, you have to know all the details of our product offerings (mortgages, savings, current accounts, business loans, consumer loans).
You will play a central role within ING and your activities will impact ING’s overall P&L. Your success will depend on your ability to maintain good relations with our stakeholders, i.e. CRO NL divisions, Finance, the Business Tribes, Group Financial Risk, Model Validation, Group Treasury and also our external stakeholders ECB, DNB and the external auditor of ING.
You take part – directly or indirectly – in the migration of ING NL to QRM for the monthly hedging process and the migration of our mortgages administration to STATER.

How to succeed

An academic degree (MSc or PhD) in Econometrics or other quantitative studies such as Mathematics, Engineering & Physics
Finished additional professional qualifications in the financial risk field such as CFA, FRM, or the willingness to do so
Minimum of 7 to 10 years of relevant experience in the financial sector (e.g. banking, insurance, consulting)
Extensive knowledge of financial risk management, relevant regulations, e.g. Basel/IRRBB, modelling and hedging techniques
Knowledge of – and preferably experience with the parameterization of – behavioural ALM models (prepayment, non-maturing deposit modelling)
Experience in being a sparring partner/advisor to Senior Management
Experience with SQL and coding (e.g. Python, R) is an advantage as well as experience with QRM, and/or other ALM systems
And of course you should be fluent in English

Furthermore, you should adhere to the ING values and it is evident for you that your behaviour is fully aligned with these values. You should also be prepared to take the Banker's Oath.