WO workalong internship interest rate risk management

ING

Stage informatie

Organisatie: ING

Locatie: Amsterdam

Opleidingsniveau: HBO/WO

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Deze stage is niet meer vacant

Want to do an internship at the Treasury department of ING?

Want to know what it is like to work at a global bank as an econometrician? What is a ‘typical day at the office’? Would I feel at home? What is it like to experience the financial turbulence from nearby?

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These questions will be answered when you do your internship with ING Bank, in the Amsterdam dealingroom. We are looking for an econometrician to do a 6-month internship with the team that manages the bank’s interest rate risk. The intern would be part of the team, just like any regular employee.

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The internship is not meant to write your master thesis, but to learn on the job. Of course, you will receive a remuneration, but we believe that the higher goal is to gain experience. You will be surrounded by professional quantitative staff, that will help you to tremendously boost your knowledge of managing financial risks and a bank’s balance sheet.

The Treasury department in general

Treasury facilitates the commercial entities to do business, in lending and deposit taking. It advises the bank’s management board on balance sheet development and manages the bank’s financial risks, like interest rate risk, funding risk and liquidity risk.

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Treasury is at the very heart of the bank. Risks originated at the commercial units are transferred internally to the Treasury department, where it is managed. Treasury can choose to hedge the risk in the financial markets or keep (part of) it. Treasury is supported by departments like Risk management (measuring our risks independently) and Finance (reporting our results).

Interest rate risk management team in particular

Within Treasury, the Interest Rate risk Management team (IRM) is responsible to manage….indeed, the interest rate risk. This applies to the almost EUR 200 billion balance of ING Bank in the Netherlands. But the team also centrally coordinates the same activity in the countries where ING is active, ranging from the US all the way to Australia (total balance approaching EUR 1,000 billion). We are a sparring partner for those countries in managing their risks, but also the central point of contact regarding regulatory developments (and lots is happening here – never a dull moment!).

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Furthermore, the team is responsible for investing the bank’s EUR 40 billion of core tier1 capital. And to protect the bank’s solvency against FX rate changes.

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Managing these risks requires a continuous assessment of the portfolio and the markets. But a large part of our work is to enhance the way risks are managed – both in term of content and the way it is implemented. We believe it is a balanced combination of theory and practice, which makes it an exciting, dynamic and unique environment for an econometrician to learn about banking. This is further emphasized by your stay in the dealingroom, where you can feel the tension during exciting moments. You will be closely coached by your direct manager, as well as by your colleagues.

What candidate are we looking for?

To qualify for the internship, we are looking for a strong candidate, with the following qualifications:

  • Last year bachelor or master in economics, econometrics (or alike);
  • Strong analytical and communication skills;
  • Fluency in English (Dutch is not required);
  • Affinity with IT / software (Excel, VBA)

The candidate should live ING’s so-called Orange Code:

  1. You take it on and make it happen
  2. You help others to be successful
  3. You are always a step ahead

Given the amount of applications that we expect, we have to be strict during the selection process. If you have doubts whether you would qualify, please contact us.

What is in it for ING?

Being an international bank with Dutch roots, we believe we should provide opportunities for students to grow. At the same time, students will help us improve our way of working. If there is a good match between the intern and the bank, this might be the start of a fruitful collaboration. We are very excited to work for this bank, that is at the forefront of client centricity and digital banking, and perhaps the ‘virus’ may spread…

Experiences from interns

Since the start of this team, back in 2014, we continuously had interns and trainees working at our desk. To give you an impression, the following feedback was received from Mariya Yankova, who did an internship at the IRM team early 2015:

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"Doing an internship at bank treasury gives you the chance to gain more knowledge in many different sub-divisions of finance (accounting, economics, econometrics, etc.).You will be working in a very dynamic environment so it is essential that you are able to apply critical thinking and always challenge the given assumptions. Don’t expect doing tasks that only require mechanized work- you really have to think. This makes the internship a great opportunity for students who have the required motivation and enthusiasm. The most important thing that I learned here is that you should not be afraid to share your opinion and ideas because they will be always taken seriously. If you’re not right, then you have learned something new and if you turn out to be right, then you can really make a change!"

Next steps

For questions on the internship and submitting your curriculum vitae plus motivation, please contact Sander Boogmans, head of the IRM team, sander.boogmans@ingbankcom, tel +31 (0)20 563 8114.

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Looking forward to welcoming you to our team!

Please note: to do an internship at ING, you need to be registered at a Dutch educational institution during the entire period of the internship.

Stage informatie

Organisatie: Organisatie: ING

Locatie: Amsterdam

Opleidingsniveau: $stage.educationLevel.name}

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