Strengthening Risk Oversight: A New Era for ING Americas

ING Americas is embarking on a meaningful initiative to bolster its risk management framework by establishing a dedicated Integrated Risk team. The company is actively seeking a seasoned professional to fill the critical role of Head of Integrated Risk, based in New York City. This move underscores ING’s commitment to proactive risk management in an increasingly complex and volatile global landscape.

The Head of Integrated Risk: A Multifaceted Leadership Role

The Head of Integrated Risk will be instrumental in shaping and leading the newly formed Integrated Risk team. This individual will be responsible for a wide array of crucial functions, including:

• Establishing and leading a de novo Integrated Risk team within ING Americas.
• Overseeing risk assessments,stress testing,and Recovery & Resolution Planning.
• Managing and reporting on both financial and non-financial risk topics to the local Risk Committee.
• Contributing to global ICAAP (Internal Capital Adequacy Assessment Process) and capital management, reporting results to local regulators.

This leadership position demands a deep understanding of enterprise risk management principles, including a strong grasp of ESG (Environmental, Social, and Governance) factors and Recovery and Resolution Planning strategies.the role reports directly to the Chief Risk Officer Americas and functionally to the Global Head of financial Risk, ensuring both regional and global alignment.

Integrated Risk Americas: A Central Hub for Enterprise Risk Management

The Integrated Risk Americas department will serve as a central hub for bank-wide risk topics that transcend specific risk categories. Its core responsibilities include:

• Promoting enterprise risk management through robust governance and policy structures.
• Independently assessing enterprise risks across the Americas region.
• Leading Recovery & Resolution Planning efforts.
• Providing reporting and analytics for the Risk Appetite Framework.
• Supporting global ICAAP stress testing initiatives.

This centralized approach aims to foster a holistic view of risk, enabling ING Americas to proactively identify, assess, and mitigate potential threats to its operations and financial stability.

Key Responsibilities: A Detailed Overview

The Head of Integrated Risk will be responsible for a diverse set of tasks, including:

• Team Leadership and Alignment: Building and leading the Integrated Risk team, ensuring functional alignment with global counterparts.
• Cross-Functional Collaboration: Fostering alignment across local risk domains and the broader organization to strengthen governance in line with ING Group’s Enterprise Risk Management framework.
• Risk Oversight and Reporting: Providing local oversight of financial and non-financial risks, presenting findings to the US Risk Committee, and contributing to local and global reporting for senior management and external stakeholders.
• Risk Identification and Assessment: Executing the local risk identification and assessment process, coordinating ad-hoc risk assessments, and providing input to geopolitical risk assessments.
• Solvency and Capital Planning: Determining solvency risk appetite and integrating stress testing and Economic Capital into capital planning and management.
• Recovery and Resolution Planning: Leading local Recovery & Resolution Planning efforts in alignment with local and global regulations.
• Governance and Policy: Designing and maintaining the local risk governance structure and advising approval bodies on local policies and waivers.

the Importance of Integrated Risk Management in Today’s Financial Landscape

The creation of this role comes at a time when financial institutions face increasing scrutiny and regulatory pressure to enhance their risk management capabilities. The 2008 financial crisis highlighted the interconnectedness of risks and the need for a holistic approach to risk management.As risk management is an evolving discipline, institutions must adapt to new challenges and emerging threats.

According to a recent report by the Global Association of Risk Professionals (GARP),integrated risk management is becoming increasingly critical for organizations to navigate the complexities of the modern business habitat. This includes not only financial risks but also operational, strategic, and reputational risks.

“Effective risk management is not just about avoiding losses; it’s about creating a culture of risk awareness and informed decision-making that enables organizations to achieve their strategic objectives.”
Global Association of Risk Professionals (GARP)

ING’s Commitment to a Supportive and Inclusive Work Environment

ING emphasizes a culture that values individuality and encourages employees to take risks, think creatively, and own their work. The company offers a hybrid work model, providing flexibility for employees to balance in-office and remote work. This commitment to a supportive and inclusive work environment makes ING an attractive employer for top talent in the financial industry.

The evolving Landscape of Financial Risk Management

The financial sector is undergoing a period of intense scrutiny and transformation, driven by increasingly complex regulations and a rapidly changing global economic environment. Financial institutions are now facing unprecedented challenges in managing both financial and non-financial risks. This article delves into the critical aspects of risk management, focusing on the skills and expertise required to navigate this complex terrain.

Key Responsibilities in integrated Risk Management

Effective risk management within financial institutions requires a multifaceted approach. Professionals in this field are tasked with a range of responsibilities, including:

• Governance and Compliance: Interpreting and implementing regulatory developments from bodies like the US Federal Reserve and the European Banking Authority (EBA).This includes adapting global and local governance structures to meet evolving requirements.
• ICAAP and Stress Testing: Executing regulatory requirements related to the Internal Capital Adequacy Assessment Process (ICAAP), encompassing stress testing, economic capital assessment, and recovery & resolution planning.
• Project Leadership: Leading ad-hoc projects related to integrated risk and representing the risk management function in cross-departmental initiatives.

Essential Qualifications and Competencies

To effectively manage risk in today’s financial climate, professionals need a blend of technical expertise, leadership skills, and adaptability. Key requirements include:

Technical Expertise and Experience

A deep understanding of risk management principles and financial products,notably in credit risk and market risk,is paramount. This typically requires over 10 years of experience in the field. Furthermore, specialized knowledge of EU and US regulations impacting financial and non-financial risk matters is crucial. A background in economics, econometrics, or quantitative finance is highly desirable.

Analytical and Leadership Skills

Strong analytical and quantitative skills are essential for breaking down complex issues into manageable components. The ability to synthesize details and develop strategic recommendations is also critical. Proven leadership skills, or a clear ambition to lead a team of subject-matter experts, are highly valued.

Adaptability and Communication

The financial landscape is constantly evolving, so adaptability and flexibility are key. Professionals must be able to act swiftly in changing situations and thrive in a fast-paced, dynamic environment. Excellent communication skills, both verbal and written, are necessary for effectively conveying complex information to diverse stakeholders. Maintaining strong relationships with internal stakeholders and representing the organization’s views on relevant issues are also crucial.

The Importance of Complete benefits Packages

In today’s competitive job market, financial institutions are increasingly offering comprehensive benefits packages to attract and retain top talent. These packages often include:

• Comprehensive health benefits
• Generous 401k savings plans
• Competitive paid time off (PTO)
• Family-friendly benefits such as adoption, surrogacy, and fertility services
• Student debt assistance
• Subsidies for commuting and fitness expenses

Commitment to Diversity and Inclusion

Leading financial institutions are committed to equal opportunity employment and welcome applicants of diverse backgrounds. Hiring decisions are made without regard to race, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. These organizations celebrate diversity and rely upon the unique perspectives of their employees to drive innovation and seize new opportunities.

Navigating Regulatory Complexities

The regulatory landscape for financial institutions is becoming increasingly complex. For example,the Basel III reforms,implemented globally,have substantially increased capital requirements for banks. Similarly, the Dodd-Frank Act in the United States has introduced a wide range of regulations aimed at preventing another financial crisis. staying abreast of these changes and adapting risk management strategies accordingly is a critical challenge for financial institutions.

Effective risk management is not just about compliance; it’s about creating a resilient and sustainable business model.

– A Leading Risk management Consultant