Doctorate/PhD (EQF 8), Master (EQF 7)
Risk & Capital Integration (RCI) is a staff department within the Risk domain directly reporting to the Chief Risk Officer (CRO). Its mission is to provide and promote a consolidated and consistent risk framework at the ING Group level and to support the application of this framework within different dimensions of the group. To accomplish this, RCI plays a role with respect to various topics, such as:
- Recovery Planning: In response to the crisis ING has set up an all-encompassing group-wide Recovery Plan to enhance the bank’s readiness and decisiveness to tackle financial crises on its own strength. The Recovery Plan is updated annually and assessed by the ECB and other supervisors. The recovery plan consists of a number of modules related to ING’s financial, legal and operational structure, crisis governance, monitoring, recovery options, operational stability, and scenarios. In addition, the team is responsible for coordinating and organizing the biennial Dry Run of the Recovery Plan.
- Resolution planning: It is the responsibility of RCI to collaborate with the SRB – which is the responsible resolution authority to develop ING’s resolution plan - and internal stakeholders to support the SRB with the development of ING’s resolution plan. In addition, RCI is responsible for leading internal workstreams and projects to the increase ING’s resolvability by implementing the necessary financial, legal and operational preconditions. It is RCIs objective together with several Finance and Risk departments, Group Treasury and the business, to develop effective Plans that fulfill regulatory requirements and take the necessary steps to become resolvable.
- Risk Appetite Framework: With respect to risk appetite setting, RCI is responsible for the preparation of the proposal of the high-level risk appetite statements to the Executive Board, and also for the preparation of the periodical report which shows whether or not the actual risk profile is in line with these risk appetite statements. For this purpose RCI, has developed so-called risk dashboards that provide consolidated values for several risk metrics taking into account the different risk types such as credit risk, market risk, operational risk, and business risk.
- Stress testing: This has become a very important risk management tool during the past years. ING performs both internally and externally defined stress tests, for which RCI coordinates/carries out the selection of scenarios, consolidation of the results, presentation of these results to senior management, communication with regulators and other stakeholders, etcetera.
- New regulations: As a response to the financial crisis, banks are confronted with an ongoing amount of new regulations (Basel IV, CRR/CRDIV amendments, etc). RCI is, together with other finance and risk departments, responsible for making sure that we are prepared for these regulations, and that these are properly reflected in future capital projections.
- Peer analyses: It is of paramount importance that we are aware of developments within other financial institutions with respect to e.g. solvency, liquidity, balance sheet development, loan loss provisioning and MREL/TLAC. Therefore, RCI regularly performs peer comparisons to identify developments within other banks and potential areas where ING is an outlier.
- Disclosures: RCI coordinates the risk-related disclosures in the annual and quarterly reports. Furthermore, RCI provides risk information to amongst others the Investor Relations department and coordinates information requests from regulators and rating agencies.
RCI is an international team of highly qualified professionals with an open and informal atmosphere, located in Amsterdam. RCI consists of the Capital Analytics team (9 persons) and the Recovery & Resolution Planning team (7 persons).
We are looking for a (Senior) Research and Advice Professional to strengthen our Recovery & Resolution team. As part of this team your main responsibilities will be:
- Work on the development and implementation of all requirements forthcoming from the Bank Recovery & Resolution Directive (e.g. funding and liquidity in resolution, valuation, MREL, Operational continuity in resolution).
- Assist in the annual revision and monthly monitoring activities of the ING group Recovery Plan to ensure that the Plan remains fit for purpose Working on the development of financial recovery options, Indicators, and underlying financial models;
- Develop deliverables for the Resolution Authorities in the development of the ING’s Resolution Plan
- Contribute/coordinate specific RRP related projects to increase ING’s resolvability such as valuation in resolution, operationalizing the resolution strategy, critical functions, and services.
Our requirements with respect to your qualifications include:
- A Master degree in legal, finance, (business) economics or a similar education
- Advanced writing skills are compulsory and form a substantial part of the day-to-day work. In addition, SAS/Excell skills are pre;
- Over 5 years of experience in the area of legal, finance or risk management
- Experience with regulatory landscape and/or policy/governance frameworks is a plus
- A good understanding of the ING organization together with a strong network
- Ability to work well with demanding senior stakeholders, both internally and externally
- Excellent communication skills, organization sensitivity, and teamwork
- Fluency in English (both written and verbal)
Salary & Benefits
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 our employment conditions.
To give you an idea, we will tell you about the benefits of working at ING:
- A salary tailored to your qualities and experience
- Flexible working hours and the possibility to work at home
- Reimbursement for travel expenses
- 24 vacation days with a 36-hour working week. If you work 40 hours a week, you will receive 27 vacation days
- Pension scheme
- 13th-month salary
- Individual Savings Contribution (BIS), 3.5% of your gross annual salary
- 8% Holiday payment
- Personal growth and challenging work with endless possibilities to realize your ambitions
- An informal working environment with innovative colleagues who strive for the very best
- Progressive way of working according to the Agile method, so that new ideas come to life
How to Apply
Click on Apply. You can also call or mail Matthijs van Oers, Manager Recovery & Resolution Planning for more information: email@example.com + 31 6 13593073.