Commodity Market Risk Manager

TN United Kingdom; London; Hybrid; GBP 50,000 - 90,000; Full time

Job summary

An established industry player is seeking a skilled professional to join their Trading Risk Management Team. This role involves critical responsibilities in product control and market risk management, particularly within commodities. You will engage with the Front Office, analyze daily P&L, and ensure compliance with regulatory standards. The ideal candidate will possess a strong quantitative background, technical proficiency in SQL, VBA, and Python, and excellent analytical skills. Join a forward-thinking organization that values innovation and collaboration, and make a significant impact in the financial markets.

Qualifications

• 3+ years of experience in financial industry, focusing on product control and market risk.
• Strong technical skills in SQL, VBA, and Python are essential.

Responsibilities

• Responsible for end-to-end product control process and daily P&L reporting.
• Monitor and report market risk exposure for the Commodities desk.

Skills

SQL

VBA

Python

Analytical Skills

Problem-Solving

Communication Skills

Education

University Degree in Quantitative Field

Tools

Market Data Systems

Job description

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ING is a family-friendly organisation offering a flexible, hybrid working pattern. The Trading Risk Management Team are office-based a minimum of 3 days per week.

Job Specification

Department Overview:

This is a role in the TRM (Trading Risk Management) department. The TRM Risk 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 functions; core activities include measuring and analysing market risk and trading performance across various financial products. The department acts as a second line of defence, partnering with the Front Office (FO) to provide challenge and support.

Main Duties and Responsibilities of the Role:

1. Responsible for the end-to-end product control process, including daily P&L reporting and balance sheet reconciliation.
2. Production and in-depth analysis of daily and long-term profit and loss (P&L).
3. Understanding and explaining report contents to Front Office and senior management.
4. Monitoring, analysing, and reporting the organisation’s market risk exposure for the Commodities desk on a daily and long-term basis.
5. Preparing independent price verification, prudent valuation, and model reserves monthly.
6. Participating in local and global projects to implement system and regulatory changes.
7. Monitoring trading limits and reviewing transactions exceeding those limits.
8. Engaging with Front Office to stay updated on trading strategies, challenging limit breaches, pricing, and strategy where appropriate.
9. Coordinating with the Global Market Data team (GMDB), Trading Application Support, System Support, and others to set up new market data sources and resolve related issues.
10. Executing the global valuation adjustment framework for the Commodity asset class.

Candidate Profile

Qualification/Education

Essential: University Degree (2:1 or above) in a quantitative field, preferably financial mathematics, engineering, physics, or econometrics.

Experience/Knowledge

At least 3 years of experience in the financial industry.

Experience in product control and/or market risk management, particularly within commodities at an investment bank.

Understanding and working knowledge of VaR, regulatory changes like FRTB, TRIM, and interaction with regulators.

Experience with market data challenges for commodities and deep product knowledge of commodities, derivatives, and pricing models.

Strong technical skills in SQL, VBA, and Python.

Excellent analytical, problem-solving, and communication skills, with attention to detail.

Ability to work autonomously, proactively, and with cross-functional teams, understanding business perspectives.

Flexible, capable of managing multiple tasks, and comfortable with complex technical processes and large data sets.

ING’s purpose is ‘Empowering people to stay a step ahead in life and in business’. We promote self-reliance, collaboration, and innovation. Our Orange Code reflects our values: honesty, prudence, responsibility, and proactive behaviors. Success is achieved through integrity.

We value diversity as fundamental to our success and support work/life balance. Performance is judged in line with the Orange Code and our core values.

We will collect and store your personal information as part of our recruitment process. Please request the privacy notice to understand how ING uses and protects your data.