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October 9, 2019
HBO/WO Workalong Internship at the Group Treasury department of ING
Want to do an internship at the Group Treasury department of ING?
Want to know what it is like to work at a global bank? What is a typical day at the office? Would I feel at home? What is it like to experience the financial turbulence from nearby?
These questions will be answered when you do your internship with ING Bank, in the Amsterdam dealingroom. We are looking for a strong candidate to do a 6-month internship with the team that manages the banks Funding and Liquidity. Your main responsibility will be to add value to the team with your technical and analytical skills.
The internship is not meant to write your master thesis, but to learn on the job. Of course you will receive a remuneration, but the ultimate goal is to gain experience. You will be surrounded by professional staff that will help you to boost your knowledge of managing market risks and funding a banks balance sheet.
INTRODUCTION TO TREASURY
Group Treasury is the department that operates in the very heart of the bank. Its purpose is to safeguard a healthy balance sheet, such that commercial units can support clients in their financing needs. Treasury advises the Management Board of the bank in which direction to move the balance sheet, keep a sound risk-return and be sufficiently robust to weather the storm.
Market risks originated at commercial units (retail & wholesale) are internally transferred to Treasury, where it is managed. Think about interest rate risk, funding risk and liquidity risk. Treasury can then decide how to manage the risk: hedge it in the financial markets or keep it.
Treasury deals with many other departments. Risk Management measures our risk independently and is a sparring partner to discuss what risks are acceptable or unacceptable. Finance reports our results and can help us to apply accounting rules in such a way that results correctly reflect our true economic position. The commercial units are our internal clients that hand over their risks and we regularly team up to discuss how to do this best. And Treasury is the party that externalizes any unwanted risks and therefore is dealing with the financial markets. Group Treasury is a global organisation with teams all over the world (about 250 FTE), to support the business in each location. The largest team, say around 35 FTE, is located in the Amsterdam head office. More specifically: in the dealingroom of ING. This is probably the most exciting environment in the bank, where you can sometimes feel the tension in the financial markets.
MARKET RISK & EXECUTION – LIQUIDITY MANAGEMENT TEAM
Within Group Treasury, the Market Risk & Execution Liquidity Management team is offering an opportunity for interns to learn all about the core of banking. Quite a mouthful, but it reflects some of the many responsibilities of the team:
Manage the funding and liquidity for ING Bank NV, including the tactical management of a HQLA securities buffer of the bank; Be responsible for projecting future cash positions to manage the Time To Survive of the bank on cash and collateral basis; Act as eyes and ears in the financial markets to inform management and act on market developments; Manage FX risk (exposures of many millions).
The risks at stake are high. The Dutch balance sheet is over EUR 150 billion, capital is many tens of billions and the FX risks are significant. This requires an in-depth understanding of the risks at hand and the various approaches to manage it. Any improvement we initiate pays off significantly in terms of risks of results.
You will be part of a high performing team, that is at the forefront of improving the way we work. Intensive, complex, but very, very exciting! Our ambition is to set the example for other ING teams.
WHATS IN IT FOR YOU?
First of all, we treat you like a regular employee. You will be involved in day to day business, but also into any of the many improvement projects we are working on.
You will be closely coached by your direct manager and surrounded by professional staff; experts in the field. They are happy to support you in gaining knowledge of managing financial risks and better understand the banks balance sheet. Wherever your future within the financial world is, this will be a very valuable experience!
WHAT CANDIDATE ARE WE LOOKING FOR?
To qualify for the internship, we are looking for a candidate with the following qualifications:
last year bachelor or in masters of econometrics / economics / finance / data or computer sciences / any other technical field but showing a clear affinity with finance and or economics.
for doing an internship, it is a hard requirement to still be subscribed to university and not have your studies finished;
clearly above average grades;
strong technical analysis skills; big data
strong in analytics but also in communication (making complicated matters look easy);
fluent in English (Dutch is not required).
show orange behaviour: you take it on and make it happen; you help others to be successful; you are always a step ahead.
For questions on the internship and submitting your curriculum vitae, list of grades if available, plus a short motivation (half a page), please hit the apply button below.