Operations Associate - Regulatory, Dodd Frank

at  ING

CSD | FM Ops/Derivative Ops | Associate | NYC
About ING:
Ranked #8 on LinkedIn Top Companies in Financial Services
Crain’s 100 Best Places to Work
Ragan’s Top Places to Work in 2023
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.
Sound like the kind of place you’d feel at home? We’d love to hear from you.

About the position:

• The person in this role will collaborate with the team leader and the Head of Financial Markets Operations. They will also coordinate with stakeholders from Front Office Swap Trading, Compliance, Legal, and IT Support teams.
• Applicant should have a background in banking and a broad understanding of the evolving regulatory environment for OTC derivatives.
• The ideal candidate will understand regulatory reporting obligations outlined in the Dodd-Frank Act Title VII, including CFTC Part 43 and Part 45, SEC Security-Based Swaps, and Canadian Trade Repository Reporting.
• The job involves supporting all activities related to Swap Dealers, including managing the Eligible Contract Participant list, ensuring accurate and prompt trade reporting to the DTCC, and improving current trade reporting methods for enhanced efficiency.

About the department:
Derivatives Ops is responsible for reporting derivatives activities to a repository as required under the Dodd Frank Act. This department also reconciles the activities with the repository.

Responsibilities:

• Produce daily reconciliations and analyze discrepancies between source systems and the DTCC for all reportable swaps.
• Work with IT stakeholders to enhance the quality of trade reporting by specifying reporting requirements.
• Monitor and maintain the ING Capital Markets eligible contract participant list using protocol information from Markit and bilateral agreements.
• Periodically carry out material term reconciliations through triResolve.
• Collaborate with Compliance and Legal teams on policy changes and process improvements.
• Engage in industry-wide calls and updates to ensure ING Capital Markets stays current with regulatory requirements.

Qualifications and Competencies

• 5 years of experience
• Microsoft Access and Office products
• Dodd Frank Regulatory Reporting background
• DTCC Global Trade Repository
• Markit
• TriResolve
• Eligible Contract Participant

Salary Range $110,000 -$140,000
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 working from home, commuting, and fitness.
ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to color, 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.

• Produce daily reconciliations and analyze discrepancies between source systems and the DTCC for all reportable swaps.
• Work with IT stakeholders to enhance the quality of trade reporting by specifying reporting requirements.
• Monitor and maintain the ING Capital Markets eligible contract participant list using protocol information from Markit and bilateral agreements.
• Periodically carry out material term reconciliations through triResolve.
• Collaborate with Compliance and Legal teams on policy changes and process improvements.
• Engage in industry-wide calls and updates to ensure ING Capital Markets stays current with regulatory requirements