ING’s Global Retail Banking Segment faces the challenge of combining solid sales and performance with compliance to new and complex international regulations. The retail banking customers – ranging from individuals to small and medium enterprises – expect a best in class daily banking experience, while the regulator watches over the banks’ activities with enhanced transparency demands. The Global Retail Daily Banking team lacks the expertise to combine the business aspect with a solid understanding of risk and regulations, to be applied across the thirteen countries where the business is present. A business-savvy Product Control Manager with substantial experience in risk and compliance will step in to make sure the team delivers on both these KPIs, in this highly influential, highly visible role.
ING Retail Banking
ING is the Benelux market leader for retail banking, and is also active and successful in twelve other countries – including Spain, Poland, Italy, and Australia. Retail banking customers consist of individuals and small to mid-size companies. Their activities include making and receiving payments; investing; and saving. The internationally oriented Global Team is located in Amsterdam Zuid-Oost and led by Matteo Pomoni. The team supports the Retail Banking teams in thirteen countries, both from a business perspective and risk and regulatory perspective.
Compliance, risk and regulations
Two new regulations, Mifid2 and PSD2, have been added to the compliance responsibilities of retail bankers. With these regulations, the banking landscape is expected to experience higher competition as a new, high degree of price transparency and access to information – for customers and competitors – are required to be provided. This development contains obvious risks (such as losing market share), but may also imply new opportunities, for instance in service and advisory activities. ING Retail Banking needs to be on top of its game to mitigate the risks brought on by the new regulations and to actively seek opportunities for the bottom line in the new regulatory landscape.
Vacancy: Product Control Manager Retail Banking
The function of the Product Control Manager has been newly created to do just that. The ideal candidate for this role has a background in risk and regulatory / compliance – ideally at a Big Four risk and compliance branch – but is also very well versed in the business aspect of the financial service industry. He or she combines excellent knowledge and understanding of Mifid2 and PSD2 with the ability to think about the business from a commercial and strategic perspective. For additional support, the Product Control Manager can count on the Legal and Regulatory teams, but he or she has the knowledge and gravitas to individually drive the subject within the Retail Banking team. In doing so, he or she will get the freedom to further design and shape the role based on his or her own understanding of priorities. Given the current lack of expertise on these topics within the team, this is an opportunity for the Product Control Manager to take a key role as advisor and strategist – as a business partner for all thirteen countries, and within the Global Retail Banking segment as a whole. The role comes with high visibility, so to successfully deliver on this challenge means to open up interesting career opportunities within ING Global in the future.
- ± 8 years of experience: A combination of risk / regulatory / compliance (ideally at Big Four), and business experience at a financial service provider
- Ability to combine in-depth regulatory and compliance knowledge with a commercial and strategic view on the Retail Banking business
- Excellent stakeholder management skills
- Ability to work well in a global organization and be a business partner across thirteen countries (with ±20% of travel)