At a Glance
- 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.
- Other info: Work in a diverse team with excellent career advancement opportunities.
- 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.
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)
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.
- 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
Market Risk Manager - Commodities - VP employer: ING
ING is an exceptional employer, offering a dynamic work culture that fosters innovation and collaboration in the heart of London. Employees benefit from comprehensive professional development opportunities, competitive remuneration, and a commitment to work-life balance, making it an ideal environment for those looking to advance their careers in the financial sector.
StudySmarter Expert Advice🤫
We think this is how you could land Market Risk Manager - Commodities - VP
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like ING. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Market Risk Manager - Commodities - VP
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to ING.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on ING's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at ING
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with ING.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at ING will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former ING employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
