ING is a global financial institution offering banking services to individuals, families, small businesses, large businesses, institution and governments. With more than 52,000 employees, ING is active in over 40 countries. The purpose of the bank is empowering people to stay a step ahead in life and business. When the economic environment changed drastically due to the events in 2008, ING needed to think about their future strategy. The bank presented its Think Forward strategy in 2014. The strategy aims to create a differentiating customer experience enabled by a streamlined organization, operational excellence and an enhanced performance culture. The Corporate Strategy department of ING plays an important role in the development of such a strategy. Top of Minds works fore mostly for the Corporate Strategy Department of ING.
The Corporate Strategy Department of ING
The Corporate Strategy (CS) department is led by Dorothy Hillenius who reports directly to the CEO of ING Bank. The department has two teams, Strategy Development (7 FTE) and Strategy Consulting (14 FTE). Strategy Development supports the Management Board Banking in setting the strategic vision of ING, ensures implementation and alignment of the Think Forward Strategy and tracks performance. Strategy Consulting serves ING’s CEOs and Board members via short, high impact projects, aligned with the strategic vision.
About the position: Performance Manager
The Performance Manager (PM) is responsible for leading the Corporate Strategy team in terms of effort, performance management and regulatory affairs. In order to do so, the PM works with two colleagues and reports to the Director of Corporate Strategy, Dorothy Hillenius. The PM interacts with the senior management of the bank (head of Business Units) and the Management Board Banking (MBB) on a regular basis.
Taking the lead
The PM manages the regular performance review process for Business Units to the MBB. This means analyzing business performance (financial and non-financial) and identifying key issues. In this position the PM is liaising with the senior leaders of the Business Units to prepare performance updates and ensure quality of deliverables to facilitate discussion on key issues in the MBB. The PM takes the lead within corporate strategy in managing the annual planning cycle (in close cooperation with finance) and analyzes new business, investment and innovation proposals. This person stays abreast of performance optimization (including capital allocation, balance sheet improvements and growth projections) and upcoming changes in regulation – the PM prepares recommendations on how ING should optimize performance.
Minimum seven years’ relevant strategy consulting or business experience. The PM has experience, knowledge and expertise in financial services, with a focus on financial analysis, capital and regulation. Proven communication and influencing skills, focus on optimization and the ability to develop out-of-the-box solutions are essential to be successful.
The exposure to a wide range of topics, lines of business and top management, makes CS an ideal landing spot for external hires from consultancy firms. The CS teams are composed of former strategy consultants (e.q. McKinsey, BCG), as well as high performers within ING. CS is a good training ground for future management. The team has an excellent track record in both core strategic projects and placement of alumni in senior positions.