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Global Risk PO for Commodities
Salary not available. View on company website.
ING, City of Westminster
- Onsite working
- Full time
- Permanent
Posted today, 14 Jun
Job ref: 2e1a41bfff394623ac639eb23d7a616e
Full Job Description
Product Owner has responsibilities:
Translates the TRM vision for Commodities and maximises value through prioritization of the Product Backlog within the boundaries set by the MT (via QBR / Marketplace).
Is responsible for the 'what' in a Squad, hence ensures that (non-)functional requirements are addressed.
Is partly in the squad for quality assurance and picking up tasks from the backlog.
Is partly out of the squad for prioritisation and stakeholder management.
Manages progress, issues and shifting priorities.
Advises in prioritisation and feasibility of the QBR.
Provides input on performance.
Ensure that the product backlog is transparent, visible and understood by the squad
The responsibilities for the role are:
Monitoring and analysing and reporting the organisation's market risk exposure and profit and loss (P&L) for the Commodities desk
Closely follow market developments and analyse both the realised and potential impact on the trading portfolio
Execution of the global valuation adjustment framework for the commodity asset class
Managing staff: staff appraisals, coaching, and development
Understanding and explaining the content of the reporting to FO and senior management
Ensuring the reporting is SOx compliant
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
Reporting quality improvements and liaising with other business and support areas to resolve issues
Development of a new stress testing framework (historical, hypothetical, and reverse stress testing) for the Commodity asset class
Improvement of 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 P&L and 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
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)
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
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)
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
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 a global PO and managing the Commodities team in London and is reporting to the Head of TRM in London.
Translates the TRM vision for Commodities and maximises value through prioritization of the Product Backlog within the boundaries set by the MT (via QBR / Marketplace).
Is responsible for the 'what' in a Squad, hence ensures that (non-)functional requirements are addressed.
Is partly in the squad for quality assurance and picking up tasks from the backlog.
Is partly out of the squad for prioritisation and stakeholder management.
Manages progress, issues and shifting priorities.
Advises in prioritisation and feasibility of the QBR.
Provides input on performance.
Ensure that the product backlog is transparent, visible and understood by the squad
The responsibilities for the role are:
Monitoring and analysing and reporting the organisation's market risk exposure and profit and loss (P&L) for the Commodities desk
Closely follow market developments and analyse both the realised and potential impact on the trading portfolio
Execution of the global valuation adjustment framework for the commodity asset class
Managing staff: staff appraisals, coaching, and development
Understanding and explaining the content of the reporting to FO and senior management
Ensuring the reporting is SOx compliant
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
Reporting quality improvements and liaising with other business and support areas to resolve issues
Development of a new stress testing framework (historical, hypothetical, and reverse stress testing) for the Commodity asset class
Improvement of 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 P&L and 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
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)
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
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)
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
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 a global PO and managing the Commodities team in London and is reporting to the Head of TRM in London.
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