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- Tasks: Monitor and analyse market risk for the Commodities desk, providing insights and support.
- Company: Join ING, a leading global bank with a focus on innovation and collaboration.
- Benefits: Competitive salary, comprehensive benefits, and opportunities for professional growth.
- Why this job: Be at the forefront of market risk management in a dynamic financial environment.
- Qualifications: 5+ years in finance, strong analytical skills, and experience with commodities.
- Other info: Work in a diverse team with excellent career advancement opportunities.
The predicted salary is between 48000 - 72000 £ per year.
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 primarily 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)
- 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.
- 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
- 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
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 like a pro! Reach out to folks in the industry, especially those already working at ING or similar firms. A friendly chat can open doors and give you insights that job descriptions just can't.
✨Tip Number 2
Prepare for interviews by diving deep into market risk management topics. Brush up on your knowledge of commodities and be ready to discuss how you can add value to the team. Show them you're not just another candidate!
✨Tip Number 3
Don’t forget to showcase your technical skills! If you've got experience with Python, SQL, or VBA, make sure to highlight that during conversations. It’s a big plus in this field, and we want to see you shine!
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re serious about joining the team. Let’s get you that Market Risk Manager role!
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 is tailored to the Market Risk Manager role. Highlight your experience in market risk management and any relevant technical skills like Python or SQL. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about commodities and how your skills can benefit our Trading Risk department. Keep it concise but impactful – we love a good story!
Showcase Your Analytical Skills: Since this role involves a lot of analysis, make sure to showcase your analytical and problem-solving skills in your application. Give examples of how you've tackled complex issues in the past – we’re all about those real-world experiences!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at ING
✨Know Your Commodities Inside Out
Make sure you brush up on your knowledge of commodities and their pricing models. Be prepared to discuss how market developments can impact trading portfolios, as this will show your understanding of the role and its responsibilities.
✨Demonstrate Your Technical Skills
Since the role requires strong technical skills in Python, SQL, and/or VBA, be ready to showcase your proficiency. Consider preparing a small project or example that highlights your ability to analyse data and derive insights relevant to market risk management.
✨Understand Regulatory Frameworks
Familiarise yourself with banking regulations like FRTB and Basel III. Be prepared to discuss how these regulations affect market risk management and how you've interacted with regulators in the past. This will demonstrate your readiness for the challenges of the role.
✨Showcase Your Leadership and Teamwork
As a Market Risk Manager, you'll need to work closely with the Front Office and other teams. Prepare examples of how you've successfully led projects or collaborated with cross-functional teams in the past. Highlight your ability to communicate effectively and manage multiple tasks simultaneously.
