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- Tasks: Lead market risk management for commodities, analysing trading performance and compliance.
- Company: ING is a global bank focused on innovation and sustainability in financial services.
- Benefits: Enjoy a full-time role with opportunities for professional growth and collaboration across teams.
- Why this job: Join a dynamic team, make impactful decisions, and develop your expertise in commodities trading.
- Qualifications: 5+ years in finance, strong analytical skills, and proficiency in Python, SQL, or VBA required.
- Other info: Flexible working options available; ideal for those eager to learn and grow in a fast-paced environment.
The predicted salary is between 43200 - 72000 £ per year.
Join to apply for the Market Risk Manager – Commodities – VP role at ING
Join to apply for the Market Risk Manager – Commodities – VP role at ING
Senior Recruiter RWO Global Sourcing (EMEA) – Sourcing talent across front, middle and back office for ING
Department Overview:
This is a role in the Trading Risk department (TRM). The TRM department is a team of approximately 70 people supporting a wide area of businesses within Financial Markets, Group Treasury and Lending Services. The team is responsible for the market risk and product control function. The department’s core activities are measuring and analysing market risk and trading performance across a variety of financial products. The role of the department is as a second line of defence being business partner to the Front Office (FO), providing challenge and support.
This role is primary responsible for acting as senior Commodities trading risk manager in London and is reporting to the Head of Commodities TRM in London.
Experience/Knowledge
- 5+ years of experience in the financial industry
- Experience in market risk management
- In-depth product knowledge of commodities and associated pricing models
- Good knowledge of banking regulations FRTB, Basel III
- Strong leadership and organisational skills
- Strong technical skills in Python, SQL and / or VBA
- Experience with Sophis
- Experience with market data sourcing and derivation (volatility, repo spread)
- Experience in working on regulatory change and interaction with regulators (FRTB, TRIM, SIMM)
Main Duties and Responsibilities of Role:
- Monitoring and analysing and reporting the organisation’s market risk exposure for the Commodities desk
- Closely follow market developments and analyse both the realised and potential impact on the trading portfolio
- Understanding and explaining the content of the reporting to FO and senior management
- Monitoring trading limits and reviewing transactions over the established limits
- Challenging FO on limit breaches, pricing, and strategy
- Maintenance and implementation of policies and procedures.
- Ensuring compliance with all relevant ING policies.
- Continuously engaging with FO to keep up to date with their trading strategy, pricing and strategy
- Supporting the business by providing pro-active risk and P&L advice to aid business management
- Product development in conjunction with FO
- Development of a new stress testing framework (historical, hypothetical, and reverse stress testing) for the Commodity asset class
- Development and enhancement of existing risk framework
- Improvement of the desk processes, looking for opportunities to increase efficiency and enhance the control framework
- Collaborate with valuations team to improve the global valuation adjustment framework (independent price verification, fair value adjustment, and prudent valuation adjustment) for the Commodity asset class.
- Improvement of the desk processes, looking for opportunities to increase efficiency and enhance the control framework
- Involvement in local and global projects to implement changes in systems and regulations like Fundamental Review of the Trading Book (FRTB)
- Functional testing of risk management system upgrades and model implementations in cooperation with FO, Quants, and IT
- Supporting Model Development Quants in the development of models and methodologies and Model Validation quants in the validation of models and methodologies
- Prepare and conduct monthly desk reviews
- Maintain input or data quality of risk management systems.
- 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.
- Conduct annual review of trading mandate, limits and approved products
Qualification/Education
- University Degree (2:1 or above) in a quantitative field, preferably (financial) mathematics, engineering, physics or econometrics
- Excellent analytical and problem-solving skills
- Good communicator with attention to detail, pro-active, autonomous as well as ability to summarise
- Strong team player with ability to work successfully with cross-functional, geographically dispersed teams
- Ability to work with FO and understand the business perspective of key projects
- Flexible approach to role and responsibilities
- Ability to manage multiple tasks at the same time
- Ambition to specialise into the commodities asset class and continuously learn as much as possible
- Comfortable working with complex technical processes and analysis of large data sets
ING Privacy Statement
In order to operate ING’s recruitment process, we will collect and store personal data you provide. Please request the privacy statement should you wish to understand how ING UK uses and protects this information and visit our website for more information.
Seniority level
-
Seniority level
Mid-Senior level
Employment type
-
Employment type
Full-time
Job function
-
Job function
Finance
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Industries
Banking, Capital Markets, and Investment Banking
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Market Risk Manager - Commodities - VP employer: ING
Contact Detail:
ING Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Market Risk Manager - Commodities - VP
✨Tip Number 1
Network with professionals in the commodities trading and risk management sectors. Attend industry events, webinars, or local meetups to connect with people who work at ING or similar firms. This can give you insights into the company culture and potentially lead to referrals.
✨Tip Number 2
Stay updated on current market trends and regulatory changes affecting commodities. Being knowledgeable about FRTB and Basel III will not only help you in interviews but also demonstrate your commitment to the role and the industry.
✨Tip Number 3
Familiarise yourself with the specific tools and technologies mentioned in the job description, such as Python, SQL, and Sophis. Consider taking online courses or certifications to enhance your technical skills, making you a more attractive candidate.
✨Tip Number 4
Prepare for potential interviews by practising how to explain complex risk management concepts clearly and concisely. You may be asked to discuss your experience with market data sourcing and stress testing frameworks, so be ready to provide examples from your past work.
We think you need these skills to ace Market Risk Manager - Commodities - VP
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in market risk management, particularly in commodities. Use specific examples that demonstrate your knowledge of banking regulations and technical skills in Python, SQL, or VBA.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background aligns with the responsibilities outlined in the job description, such as monitoring market risk exposure and collaborating with the Front Office.
Highlight Relevant Experience: When detailing your work history, focus on roles where you managed market risk or worked with trading strategies. Mention any experience with regulatory changes like FRTB or Basel III, as this is crucial for the position.
Showcase Analytical Skills: Since the role requires strong analytical and problem-solving skills, provide examples of how you've successfully analysed market data or developed risk frameworks in previous positions. This will demonstrate your capability to handle complex technical processes.
How to prepare for a job interview at ING
✨Showcase Your Technical Skills
As a Market Risk Manager, you'll need strong technical skills in Python, SQL, and VBA. Be prepared to discuss your experience with these tools and how you've used them in past roles to analyse market risk or improve processes.
✨Demonstrate Industry Knowledge
Familiarise yourself with current banking regulations like FRTB and Basel III. During the interview, highlight your understanding of these regulations and how they impact market risk management, especially in commodities.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities in real-world scenarios. Think about past experiences where you had to monitor trading limits or challenge the Front Office on pricing strategies, and be ready to explain your thought process.
✨Emphasise Collaboration Skills
This role requires working closely with various teams, including the Front Office and valuations team. Share examples of how you've successfully collaborated across departments to achieve common goals, showcasing your ability to communicate effectively.
