Regulatory Risk Manager

Risk | Trading Risk Management (TRM) | Regulatory Risk Manager | Location

About ING: 

Ranked #8 on LinkedIn Top Companies in Financial Services

Crain’s 100 Best Places to Work

Ragan’s Top Places to Work in 2023

In Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients. 

 
When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.

We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.

Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the department:

The Financial Risk (FR) department is a central part of ING’s risk management framework, with primary responsibility for assessing, monitoring, and managing risks of all trading books. FR is independent from the revenue generating divisions of the firm and reports to the firm’s Chief Risk Officer and Global Head of TRM. The regional FR function is responsible for market risk management, product control of trading books, counterparty credit risk management, and regulatory risk management.

ING Capital Markets LLC (INGCM) is a registered standalone US Swap Dealer and must comply with CFTC capital rules. The FR team in NY has been growing significantly in its support of the business growth and increased regulatory obligations on INGCM.  Another exciting opportunity at the Vice President experience level is available within FR team to second-line risk manage many aspects of this business.

Responsibilities:

• Must be able to respond to and submit all regulatory requirements promptly and always ensure compliance with US regulations (CFTC, SEC and Federal Reserve focused) and internal policies. Immediately escalate to senior management in case issues with any regulatory deliverables;
• Actively participate in CFTC/NFA examinations, internal audits (CAS), external reviews (KPMG) and Model Validation (MV) on Market Risk, Product Control, Counterparty Credit Risk models and Initial Margin (SIMM);

• Market Risk/Credit Risk
  • Calculate, review and report market and credit RWAs (key stakeholders: Senior Management, Risk Committee and US Regulators);
    • VaR, Stressed VaR, Backtest, Greeks, Stress Test, Risk-Not-In-Model, P-value;
    • SA-CCR and other Standardized Approaches (Fed Rules);
    • SIMM backtesting and benchmarking
  • Liaise with other risk managers to prepare ongoing monitoring packages for US regulators and respond to ad hoc requests;
  • Find cohesion between different methods and regulations to address regulatory requests quickly and effectively;
  • Read applicable regulatory rules (e.g. CFTC final rules regulating registered Swap Dealers, Fed and OCC bank branch registrations), translate this to business context and ensure compliance with external rules and internal policies;
  • Perform ad hoc analysis and implement tactical tools (in Excel or Python) to mitigate situations of non-compliance;
  • Streamline and innovate reporting processes + adapt to IT and system changes;
  • Participate in new internal projects;
  • Assist and back-up other risk managers to report, monitor, control and review trading businesses in New York.

Qualifications and Competencies

• Bachelor’s degree in Business, Finance, Statistics, Economics or other relevant field of study;
• 5-10+ years of relevant working experience;
• Delivery focused with strong analytical skills;
• Previous experience working with CFTC/NFA and Fed/OCC examiners
• Energetic, able to work independently and take the initiative to drive value;
• Strong market risk / credit risk knowledge, (knowledge on US regulation is a plus);
• Ability to perform under pressure and react/reprioritize quickly;
• Excellent organization skills are required;
• Proactive, team player and hands-on;
• Proficient in Microsoft Excel
• VBA (Python and SQL) a plus.

Salary Range: $150,000 - $200,000

ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to color, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.

ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.