Credit Insurance Specialist - Associate

Overview

ING Wholesale Banking (\”WB\”) is looking to hire a Credit Insurance specialist for its Credit Insurance (CPRI) team to be based in London. The ideal candidate should have 3 years+ banking experience and ideally have knowledge of Leveraged Finance and/or structured finance transactions or experience in Syndication (in sales or structuring of syndicated transactions).

The Credit Insurance team coordinates the Bank’s efforts in insuring loans on a global basis. The team is part of Loan Distribution Group (\”LDG\”) which includes Loan Syndicate, Loan Sales and Structured Distribution Solutions. LDG is one of the five functions within ING’s Capital Markets and Advisory (\”CMA\”) division alongside Global Capital Markets, Corporate Finance, Corporate Investments and Acquisition Finance.

ING is a recognised buyer of credit insurance with a strong reputation for credit quality and variety of sectors. Growth is expected to continue spurred by Basel 4, capital velocity requirements and collaboration with Structured Distribution Solutions (Significant Risk Transfers involving mezzanine tranches and Forward Flow Partnerships).

As part of the team, you will assist in handling requests for insurance covers from various product and sector teams across the Bank, negotiating the terms of insurance policies, binding policies, liaising with our 2 brokers and directly with some insurers, developing relationships with key insurers, developing the product within ING by educating relevant teams and improving internal processes. Having the ability to deal with both internal and external stakeholders is a must.

Main Duties and Responsibilities

• Handle new CPRI requests and assist in negotiating insurance policies
• In-life management of deals on a daily basis
• Support handling of claims as and when they arise and support sector teams in the process
• Discuss Capital Velocity options with key contacts from various sector teams in close collaboration with other LDG professionals
• Understand the capital treatment models and assist in changes in methodology
• Assist the Portfolio Manager in producing reporting and internal product presentations
• Prepare memos to maintain and increase secondary limits on insurers
• Coordinate adequate support for the product from all functions within the Bank (Legal, Risk, etc.)
• Organise ING Insurance Day sessions and other ad hoc presentations to insurers
• Support other CPRI colleagues and Portfolio Manager on team projects
• Develop deeper relationships with insurers, and gather market intelligence from a variety of sources (peers, brokers, etc.)
• Assist in data quality and be conversant with all systems used in CPRI at ING, and support product development

Career Potential

The candidate can evolve towards other risk distribution roles (Loan Syndicate, Loan Sales, Structured Distribution Solutions) or other sector teams involved in lending or receivables finance (our internal clients).

Candidate Profile

Qualification/Education

• Essential: University Degree; Excellent written and oral fluency in English as well as numerical
• Desirable: One other European language

Experience/Knowledge

• Essential: At least 3 years’ banking experience and ideally have knowledge of Leveraged Finance and/or structured finance transactions
• Desirable: Risk distribution role; International working experience

Personal Competencies

• Essential: Team player; attention to detail; ability to manage multiple tasks/deadlines simultaneously and to deliver with efficiency and effectiveness; dedication towards achieving results; Intellectual curiosity; sociable and able to cultivate business relationships.

ING’s purpose is ‘Empowering people to stay a step ahead in life and in business’. Every ING colleague is given the opportunity to contribute to that vision.

We champion self-reliance and foster a collaborative and innovative culture. The Orange Code is our global manifesto for how we stay true to our purpose and our tradition of reinvention and empowerment. It is made up of ING Values (we are honest; we are prudent; we are responsible) and ING Behaviours: (you take it on and make it happen; you help others to be successful; you are always a step ahead)

For us, success will only be achieved if we act with Integrity.

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