Job Description

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/Knowledge

Essential:

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

Desirable:

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.



Improvement of the desk processes, looking for opportunities to increase efficiency and enhance the control framework



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



Candidate Profile

Qualification/Education

Essential:

University Degree (2:1 or above) in a quantitative field, preferably (financial) mathematics, engineering, physics or econometrics

Desirable:

Professional qualification (e.g. PRM, FRM)



Personal Competencies

Essential:

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



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