October 17, 2024

ING

București

OTHER

Operation Risk Specialist - Reporting & Capital @ING Hubs Romania

Discover ING Hubs Romania

ING Hubs Romania offers 130 services in software development, data management, non-financial risk & compliance, audit, and retail operations to 24 ING units worldwide, with the help of over 1700 high-performing engineers, risk, and operations professionals.

We started out in 2015 as ING’s software development hub – a distinct entity from ING Bank Romania – then steadily expanded our range to include more services and competencies.

Now we provide borderless services with bank-wide capabilities and operate from two locations: Bucharest and Cluj-Napoca.

Our tech capabilities remain the core of our business, with more than 1500 colleagues active in Data Management, Touchpoint Channels & Integration, Core Banking, and Global Products.

We enjoy a flexible way of working and a highly collaborative environment, where fair and constructive feedback is encouraged.

For us, impact isn't a perk. It's the driver of our work.

We are guided and rewarded by a shared desire to make the world a better place, one innovative solution at a time. Our colleagues make it their job to do impactful things and they love doing it in good company. Do you?

The mission

ING Global ORM Center (IGOC) mission is to provide:

professional support to Corporate Non-Financial Risk (NFR) Management in managing and conducting the operational risk management function (ORM) within ING Bank as defined and described in the ING Global NFR Management Charter
control-oriented qualitative activities (Second Line Monitoring) towards ING entities globally.

The team of Operational Risk professionals is working with a variety of internal stakeholders, in a multi-cultural environment, that provides the opportunity of gaining oversight on the non-financial risk practice, as well as the opportunity to further support the enhancement of the global control framework.

Role and working environment

As NFR specialist on Framework, Reporting & Capital (FRC), you will be part not only of IGOC but also part of the FRC team (as part of Integrated NFR department) within the global Non-Financial Risk function of ING.

Integrated NFR is a risk agnostic function focusing on a diverse set of overarching topics, including the Non-Financial Risk Dashboard at Bank level, tracking actions and follow-up of high risk audit, regulatory and own outstanding actions, advising relevant stakeholders on operational risks associated with projects or products.

The FRC team specializes in four key areas of expertise: the NFR framework, reporting, optimization products, and Operational Risk capital. The ownership of responsibilities is defined across these domains. The capital team is responsible to coordinate and execute many different topics related to Operational Risk capital, such as the current Advanced Measurement Approach (AMA) capital model, as well as change projects related activities to prepare for the new Standardized Measurement Approach (SMA) and to implement a new model (OREC) to support Economic Capital calculation and Internal Stress Testing.

Your day to day

As NFR Capital specialist you will work in a small team responsible for the coordination and execution of activities related to Operational Risk capital. You will be directly contributing to the development of a new operational risk capital modelling landscape, one that it is ready to meet the regulatory requirements and challenges its facing from 2025 onwards.

Together with the capital team and the OREC Model Owner you will take responsibility to perform the following activities:

Contribute to the development of Community of Expertise (Co E) around Operational Risk capital by preparing input for discussions and decision-making, minute-taking and by giving follow-up to actions defined from recurring alignments;
Contribute to discussions on the design and validation of the new economic capital model, and prepare input put for discussion in the NFR Model Committee;
Contribute to the design and implementation of the capital allocation mechanism for regulatory and economic capital;
As part of ING’s Basel IV program participate in the Operational Risk workstream to ensure compliancy with CRR3 requirements and to be timely and well prepared for the new SMA approach and other requirements impacting Operational Risk;
Contribute to the design and development of a robust economic capital scenario analysis framework that delivers key input for capital calculations, captures key emerging risks such as AI and ESG related risk, and provides actionable insights for effective risk identification, assessment, and mitigation. You will be able to dive into to the development of suitable scenario analysis tooling, a training program for scenario facilitators and SMEs, and the roll-out of the scenario updating trigger mechanism and Expert Weighting process;
Contribute to the development of an internal stress testing model that directly addresses a critical Model Validation issue with ‘High’ severity, collaborate with stakeholders and document model requirements to ensure that the stress testing framework aligns with regulatory demands (such as Basel IV) and internal risk appetite;
Proactively reach out to important stakeholders to prevent issues, and in response to (ad-hoc) requests and questions (incl. those from ING Model Validation, internal/external auditors and regulators);
Represent ING in expert forums such as the ORX Analytics and ORX Scenario Working Groups;
In addition to your primary role centered around Capital, there is a chance that over time you will also be engaged in other areas such as NFR policy setting and NFR reporting, and to collaborate with colleagues on many other NFR related topics. For this reason, broad knowledge and/or experience in the field of Non-Financial Risk is a requirement;
Being part of a small team that applies an Agile mind-set, you are encouraged to further get involved in other activities in scope of the broader Integrated NFR department;
You will be operating in a dynamic international environment, where you will be working closely together with with Op Risk Model Developers (ING Tech/Poland), COO Risk, the Integrated Risk department; with Operational, Design & Control Resilience (ODCR), 1st Lo D and 2nd Lo D senior management; with professionals from 2nd Lo D functions (eg IRM, Compliance, Legal, Model Risk, Finance), CAS and with our IBSS hubs for SOX testing and SLM.

What you’ll bring to the team

You are an experienced risk specialist with at least 5 years, preferably in the area of non-financial risk management. Risk capital calculation, scenario analysis and/or internal stress testing is a plus;
You have 5-10 years of working experience the banking sector;
A background in statistic or econometrics is a plus;
You express yourself clearly and effectively, both in writing and verbally. You are able to effectively challenge colleagues in first and second line of defence;
A team player with strong interpersonal skills who can operate in a diversified and multicultural work environment;
Excellent analytical skills as well as a keen eye for detail;
You are fluent in English;
You have a university degree or equivalent.

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