Regulatory Risk Manager

Risk | Trading Risk Management (TRM) | Regulatory Risk Manager | Location
Risk, Regulatory Risk Manager, NYC
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 TRM department is a central part of ING's risk management framework, with primary responsibility for assessing, monitoring, and managing risks of all trading books. TRM 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 TRM function is responsible for market risk management and product control of trading books as well as counterparty credit risk management.
ING Capital Markets LLC has become a registered standalone US Swap Dealer and must comply with CFTC capital rules. The team has been growing significantly and another exciting opportunity is available within TRM New York to cover many aspects of this new regulation.
Responsibilities :

• Must be able to respond to and submit all regulatory requirements promptly and always ensure compliance with US regulations 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);
  • Work very closely with the Head Office and prioritize/communicate US requirements;
  • Participate in new product approval process (PARP).
  • 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), 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;
  • Actively collaborate with global stakeholders to find strategic solutions;
  • 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;
• 2-7+ years of relevant working experience;
• Delivery focused with strong analytical skills;
• 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 and VBA (Python and SQL are highly recommended).

Salary Range: $120,000 - $145,000
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.