Internship Bank Treasury department

  • Interships & Traineeships

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

Want to know what it is to work at a global bank being an econometrist? Want to experience what ‘a typical day at the office’ would be like and see whether you would feel at home? Want to experience the turbulent financial times from the inside?

We offer you an exciting opportunity to be part of the Bank Treasury  team of ING Bank in the Amsterdam dealingroom. We are looking for an econometrist for a 6-month internship, full- or part-time (3 to 5 days per week), for our Interest Rate Risk Management team (see below). If you are available for less than 6 months, we can discuss the possibilities.

The internship is not intended to write your master thesis for your graduation, but instead to learn on the job. Obviously, you will receive a remuneration – but we believe the higher goal should be to gain experience. The internship will give you the opportunity to add value, learn to practice banking in general and managing financial risks in particular. You will be surrounded by professional quantitative staff and be part of the team.

Bank Treasury

Bank Treasury’s overarching objective is to facilitate business development for our commercial businesses - in lending and deposit taking - and for our Financial Markets trading operations.

Bank Treasury:

  • Advises the Bank Management Board on balance sheet development
  • Is the execution arm of the Bank Management Board for all balance sheet related matters
  • Is the first responsible for meeting liquidity and funding risk appetite
  • Executes its tasks in the most cost efficient way, taking into account both risk and reward
  • Is sufficiently independent from the commercial business both on a local business unit basis as from a consolidated point of view

Bank Treasury is at the very heart of the bank. Risks originated at the commercial units are transferred to Bank Treasury, where it is managed. Risks can be hedged in the financial markets or chosen to be left on the book. The Bank Treasury is supported by other departments to fulfil this role; amongst others by the Market Risk Management department, which measures, analysis and reports the risks.

The Bank Treasury  team in Amsterdam has different business lines and you would be allocated to one of them where we can find the best match:

Interest Rate Risk Management (IRM) - IRM is responsible for managing the interest rate risk embedded in the commercial activities of the commercial businesses.

Money Market & Long Term Funding (MM&LTF) - MM&LTF is the execution arm of BT its role of taking care of the bank’s funding needs by covering the complete professional funding mix ranging from overnight interbank fund to long term public debt issuance and central bank access. In addition, MM&LTF manages the bank’s liquidity buffer, the structural funding gap of the bank, and the bank’s collateral portfolio.

Balance Sheet Management (BSM) -BSM monitors and analyses balance sheet developments in commercial activities of the bank. Its primary goal is determining and then analysing  balance sheet optimisation opportunities.

Investment Portfolio Management (IPM) -IPM manages the portfolio of debt securities that make up the liquid asset buffer. This desk also issues ING debt.

Working at Bank Treasury requires good analytical skills. It is not easy. You will have to tease your brains to make sure you understand the risks and financial markets in detail. We believe it is a balanced combination of theory and practice, which makes it an exciting and dynamic environment for an econometrician to learn about banking.  This is also emphasized at your stay in the dealingroom, where can you feel the tension in these exciting times.

Your role in the team

What’s in it for you?

A lot, we can promise! You will act like any other regular employee just entering the team. This means you will get to learn the ins and outs of Bank Treasury.  Your communication skills will be challenged when you are sparring with other departments (often internally, with other Bank Treasury locations across the globe) and bringing messages across to senior management of the bank. You are part of a bigger team, which will further improve your collaboration skills. You will get a good insight in the balance sheet management and composition of the bank – no longer from a text book, but put to practice. You will receive direct coaching from your team manager to make sure you develop in the areas where there are opportunities for growth.

What’s in it for ING?

As a big international bank but with Dutch roots, we believe that we should provide opportunities for growth of ‘our’ students. At the same, the student will help us boost our enhancements. These are turbulent times and lots remains to be done; especially now we see new regulations pressurizing us more than ever (never a dull moment!). Additional support by an enthusiastic econometrist will definitely help us in achieving our goals. Besides, it is a splendid opportunity to meet up with students to see if there is a match for perhaps the longer term. We are very excited to work for ING and perhaps this ‘virus’ might spread...

Requirements

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

  • Last year bachelor or in masters of econometrics study (or alike);
  • Strong analytical and communication skills;
  • Interest in financial markets and risk management;
  • Fluency in written / spoken English (Dutch is not required);
  • Affinity with IT / software (VBA, databases, Excel etc).

Experience from an intern

The following feedback was received from Mariya Yankova, who did an internship at the IRM team early 2015:

“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 regarding the internship procedure and submitting your letter plus curriculum vitae, please contact Carolyn Chang, Business Manager, tel. +020 563 8764, Carolyn.Chang@ingbank.com.

For questions regarding Bank Treasury activities or your potential role, please contact Sander Boogmans, Head of Interest Rate Management Netherlands, tel. 020 – 563 8114, sander.boogmans@ingbank.com.

Looking forward welcoming you to our team!