Internship - Interest Rate Risk in the Banking Book (IRRBB) team

The Team

As an intern, you will be part of the Interest Rate Risk in the Banking Book (IRRBB) team within the Banking Risk tribe of the Financial Risk department. The team contributes to the global management of interest rate risks that affect ING Group’s consolidated balance sheet.

Specifically, the team is responsible for identifying, evaluating, controlling, monitoring, and reporting on interest rate risks. To ensure effective risk management at portfolio and balance sheet levels, there is close collaboration with senior risk management and the 1st  Line of Defence. You will work in a dynamic, international, corporate environment with professional colleagues who continually challenge each other to achieve the best results.

Role and responsibilities

• Support the IRRBB chapter in identifying, analysing, and quantifying interest rate risk for ING globally through assisting in the monthly reporting & analysis cycle. By doing so, you get familiar with the ins and outs of the department and ING’s Financial Risk structure. In addition, you will deepen your knowledge of Asset & Liability Management (ALM) practices and IRRBB models.
• Leverage programming skills to optimize and improve IRRBB risk systems, analytical tools, and reporting dashboards.
• Applying GenAI (e.g. Copilot, Python-based tools) to data analytics or financial risk problems.
• Interact with risk professional in the team and provide support to senior risk management and the 1st Line of Defence in managing and reducing financial risks as required.

How to succeed
We hire smart people like you for your potential. Our biggest expectation is that you’ll stay curious, keep learning and take on responsibilities proactively. We are looking for enthusiastic colleagues who enjoy programming, engineering of financial data, performing quantitative analyses, and have an intrinsic curiosity to continuously expand their knowledge.
In particular, as a member of our team, you are:

• Available for 36 hours per week
• Must be enrolled in a Dutch university for the entire duration of the internship and available for 6 months mimmum.
• Able to physically join your colleagues weekly in the Amsterdam office
• Currently pursuing a Master's degree in a quantitative field, such as Econometrics, Mathematics, Physics, Engineering or a related discipline. Please note that internship topics are not appropriate for thesis work.
• Equipped with strong analytical and problem-solving skills, demonstrating a keen interest in data, quantitative analysis and modelling.
• Skilled in Python programming, Power BI enabling you to strengthen existing models.
• Experienced with refactoring, data engineering-related tasks and have a good understanding of quantitative methods.
• Exhibiting excellent written and verbal communication skills in English
• Proactive with the ability to work independently and collaborating effectively within a team environment.
• Exposure to GenAI tools or techniques is a plus.

Why join us?

• Gain hands-on experience in financial risk management within a leading global bank.
• Work alongside experienced professionals and learn from their expertise in Asset & Liability Management ( ALM) and Interest Rate Risk in the Banking Book (IRRBB).
• Explore a diverse and truly international environment that encourages you to see the world through different lenses.
• Embrace a culture of innovation, continuous learning, and professional development.

Rewards and benefits
This is a great opportunity to train with highly skilled people who are experts in their field. You’ll do a lot and learn a lot – not only about your specialist area and the bank, but also about yourself and whether this type of environment is right for you.
You’ll also benefit from:

• Internship allowance of 700 EUR based on a 36 hours work week
• Your own work laptop
• Hybrid working to blend home working for focus and office working for collaboration and co-creation
• Personal growth and challenging work with endless possibilities
• An informal working environment with innovative colleagues

During the duration of your internship at ING, it is mandatory to be enrolled at a Dutch university (or EU-university for EU passport holders).

Want to apply directly? 
Please upload your CV and motivation letter by clicking the ‘Apply’ button.

About our internships
Every year, more than 350 students join our internship program. While there are no guarantees about your future, many of our former interns move into a permanent role or onto our International Talent Programme (traineeship).Whatever happens, an internship at ING is the ideal opportunity to meet a wide variety of people, to build up your own network, and to learn about many different aspects of banking – put simply, it’s a great start to your career.