Director, Interest Rate Risk Management

Group Treasury | Interest Rate Risk Management | Director | New York City

About ING: 

In Americas, ING’s Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients. 

 
When you come to work at ING, you’re joining a team where individuality isn’t just accepted, it’s encouraged. We’ve built a culture that’s fun, friendly and supportive – it’s the kind of place where you can be yourself and make the most of whatever you have to offer.

We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We’re here to help you get ahead. And with our global network, there’s plenty of scope to take your career in new directions, perhaps even ones you’ve never considered. ING Americas follows a hybrid work model, allowing for in-office / work from home flexibility. Hybrid work arrangements vary based on business area.

Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the position:

The Director of Interest Rate Risk Management is the Group Treasury (GT)’s subject-matter-expert responsible for analyzing and monitoring the franchise’s Interest Rate Risk in the local balance sheet.

This role is accountable for identifying, measuring, and managing interest rate risk exposures aligned with the franchise’s balance sheet objectives and risk appetite.

The Director ensures high‑quality analytics, robust controls, and strong documentation to meet regulatory expectations, while collaborating with Second Line Risk, Finance, and Head Office.

About the department:

Group Treasury at ING Americas is responsible for managing and monitoring ING’s capital, funding, and liquidity positions across both business-as-usual and stress scenarios. This includes oversight of regulatory liquidity metrics and ensuring alignment with global treasury strategy.

The function facilitates risk and funding transfers from business lines to the Group Treasury books, sourcing funding from both the local U.S. market and Group-level channels. It actively manages associated interest rates, FX, and liquidity risks through the use of derivatives, including interest rate swaps and FX forwards.

In addition, Group Treasury oversees the management of the High-Quality Liquid Asset (HQLA) portfolio to ensure compliance with LCR and NSFR requirements, while optimizing yield and liquidity. The team also leads interest rate hedging strategies to mitigate structural risk on the U.S. balance sheet.

Group Treasury further advises business lines on pricing and potential balance sheet impacts of lending and depositing products, ensuring that commercial decisions are aligned with funding and risk objectives.

Responsibilities:

Risk Measurement & Analytics

• Review and analyze EVE, NPV, NII, sensitivity metrics, gap analyses, repricing profiles, and scenario results.
• Maintain a deep understanding of interest rate drivers, product behaviors, and embedded optionality.
• Conduct ad‑hoc analyses to support balance sheet positioning, hedging decisions, and business strategy.

Governance

• Prepare IRR analysis for ALCO, senior management, Head Office, and regulators.
• Clearly articulate risk positions, trends, vulnerabilities, and recommended actions.
• Track and monitor IRR limits, thresholds, and early warning indicators, and escalate breaches promptly.
• Support GT responses during regulatory reviews.

Balance Sheet Strategy

• Develop and recommend risk mitigation strategies
• Partner with the funding desk, liquidity management, and business units to understand upcoming activities that may affect the firm’s IRR position.
• Provide forward‑looking insights based on rate environments and market dynamics

Stakeholder Engagement

• Collaborate closely with second line Market Risk for oversight, challenge, and limit governance.
• Coordinate with Finance, ALM reporting teams, and Head Office

Qualifications and Competencies

• Bachelor’s degree in Finance, Economics, Risk Management, Mathematics, or related field; advanced degree preferred.
• 10+ years of experience in Treasury, ALM, or Market Risk within a financial institution
• Deep understanding of IRR measurement, modeling assumptions, and interest rate products.
• Familiarity with regulatory expectations for IRR, market risk, and model governance.
• Strong ability to translate analytics into strategic insights and actionable recommendations.
• Excellent communication skills, including the ability to explain complex concepts to senior management and regulators.

Salary Range: $216,000-273,000

In addition to comprehensive health benefits, a generous 401k savings plan, and competitive PTO, ING provides a broad array of benefits including adoption, surrogacy, and fertility services; student debt assistance; and subsidies for expenses associated with commuting and fitness.

ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to race, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are.

ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.