Junior ALM Modeller
Medewerker | Risk Management | Ervaren | Amsterdam | 2019-11-28 | REQ-10024026
ING is looking for a Junior ALM modeller. We are looking for a colleague who wants to develop a successful career in Financial Risk Management. Would you like to use your quantitative skills in a business environment? Are you interested in how to invest billions of valuable savings money of our clients across the globe? Do you want to crack your brain on client behaviour forecasting models? Does it sound interesting? Please read on!
In our ALM (Asset & Liability Management) Model Development team we create models that are at the heart of ING. We are an energetic team of 30 highly qualified professionals. We are responsible for the development and advice on ING’s global ALM models (interest rate risk, liquidity and capital models). The models are used for pricing, funding, hedging and capital requirements purposes. We maintain close relations with our stakeholders at Head Office (e.g. Financial Risk, Risk & Capital Integration, Treasury, Model Validation) and local business stakeholders in Germany, Belgium, Netherlands, Poland, Spain, Turkey, Australia, etc.
What you'll do
- You will become responsible for developing models that are deeply integrated in our business model (pricing, hedging, funding) and have impacts across global balance sheet (Net Interest Income, Economic Value and Capital Requirements). The ALM models covers all global customer lending products (eg. Mortgages, Wholesale Banking, mid-corps and SME Lending) and customer deposits products (eg. current accounts and savings).
- You will perform this responsibility in one of the three Amsterdam based squads (one squad is based in Poland). Your main task will be to ensure ALM models lead to a stable Net Interest Income and accurate capital requirements. The models are largely dependent on client behaviour, so you will monitor and model the behaviour and spot emerging trends using eg. big data analytics. Because ALM models are deeply integrated in ING a lot of stakeholders are involved. That is why a good mix of planning, stakeholder management, and technical skills are important for us. Moreover, as ALM models are supervised by regulators, knowledge of regulatory developments is a must.
To give a bit more understanding of day-to-day activities, this is how a typical day would look like:
- Start the day with a stand-up with your squad looking at the planning, tasks and priorities. Agree on the tasks for today with the team
- Pick up the tasks of the day, this could be in general:
- Model (re)development & data analysis: 55%
- Guide other colleagues in model (re)development: 5%
- Agile meetings with the squad: 10%
- Meetings with stakeholders about modelling topics: 20%
- Update stakeholders on model (re)development and planning: 10% - The time spend on advising management and updating stakeholders may increase to 70% while you get more experienced.
How to succeed
- An academic degree (MSc or PhD), quantitative studies such as Econometrics, Mathematics, Engineering & Physics
- Finished additional professional qualifications in the financial risk field such as CFA, FRM, or the willingness to do so
- 0-4 years of relevant experience in the financial sector (eg. banking, insurance, consulting)
- Experience with advanced statistical/machine learning techniques and/or data modelling software (eg. Python, R)
- Excellent analytical skills with strong attention to detail
- Interest in financial services, an innovative take on banking and an unconditional drive to turn your ideas into reality
- The ability to challenge the status quo
- Great team player skills
- And of course, you should be fluent in English
What we offer
A job from 36 to 40 hours and a unique offer that fits in with the times of today. We take into account your home situation and your ambitions and help you to balance work and private life. Discover yourself our employment conditions.
- A great salary
- Benefits such as a 13th month’s salary, Public Transfer Business Card, pension scheme
- A step towards an international career at ING with a quantitative basis
- A dynamic and agile working environment
- The possibility to improve yourself through a wide range of trainings and courses
- 24 vacation days with a 36-hour working week. If you work 40 hours a week, you will receive 27 vacation days
- Pension scheme
- Individual Savings Contribution (BIS), 3.5% of your gross annual salary
- 8% Holiday payment
- Progressive way of working according to the Agile method, so that new ideas come to life
With around 52,000 employees and operations in approximately 40 countries, there is no shortage of opportunities for people with initiative who want to make a diﬀerence. We hire smart people like you for your potential, not your past. Our biggest expectation is that you’ll stay curious. Keep learning. Take on more responsibility. In return, we’ll back you to develop into an even more awesome version of yourself.
If you want to work at the cutting edge of what’s possible, surrounded by progressive, inspiring and supportive colleagues, there is no better place to invest your talents than at ING. Join us. Apply today.