Market Risk Manager

Department Overview: 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 primary responsible for acting as senior Commodities trading risk manager in London and is reporting to the Head of Commodities TRM in London.Experience/KnowledgeEssential:5+ years of experience in the financial industryExperience in market risk managementIn-depth product knowledge of commodities and associated pricing modelsGood knowledge of banking regulations FRTB, Basel IIIStrong leadership and organisational skillsStrong technical skills in Python, SQL and / or VBADesirable:Experience with SophisExperience 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 deskClosely follow market developments and analyse both the realised and potential impact on the trading portfolioUnderstanding and explaining the content of the reporting to FO and senior managementMonitoring trading limits and reviewing transactions over the established limitsChallenging FO on limit breaches, pricing, and strategyMaintenance 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 strategySupporting the business by providing pro-active risk and P&L advice to aid business managementProduct development in conjunction with FODevelopment of a new stress testing framework (historical, hypothetical, and reverse stress testing) for the Commodity asset classDevelopment and enhancement of existing risk frameworkImprovement of the desk processes, looking for opportunities to increase efficiency and enhance the control frameworkCollaborate 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.Improvement of the desk processes, looking for opportunities to increase efficiency and enhance the control frameworkInvolvement 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 ITSupporting Model Development Quants in the development of models and methodologies and Model Validation quants in the validation of models and methodologiesPrepare and conduct monthly desk reviewsMaintain 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 productsQualification/Education Essential:University Degree (2:1 or above) in a quantitative field, preferably (financial) mathematics, engineering, physics or econometricsDesirable:Professional qualification (e.g. PRM, FRM)Personal CompetenciesEssential:Excellent analytical and problem-solving skillsGood communicator with attention to detail, pro-active, autonomous as well as ability to summariseStrong team player with ability to work successfully with cross-functional, geographically dispersed teamsAbility to work with FO and understand the business perspective of key projectsFlexible approach to role and responsibilitiesAbility to manage multiple tasks at the same timeAmbition to specialise into the commodities asset class and continuously learn as much as possibleComfortable working with complex technical processes and analysis of large data setsING Privacy StatementIn order to operate ING’s recruitment process, we will collect and store personal data you provide. Please request the privacy statement should you wish to understand how ING UK uses and protects this information and visit our website for more information.