ING 2025 Summer Internship - Finance

Job Title:                             ING 2025 Summer Internship - Finance

Experience Level:          Entry-level

Location:                             New York, NY (must be in New York or willing to relocate) 

Status:                                  Full-time; Paid (Seasonal) 

Start Date:                         June 2025 (10 Week Summer Internship) 

About ING

Ranked #8 on LinkedIn Top Companies in Financial Services and Crain’s Best Places to Work in New York 2022

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. 

Department and Role Overview:

Finance provides insightful and timely financial information, enabling ING’s management to make sound financial decisions and achieve a sustainable competitive advantage in the market through: 

• Empowering ING’s managers and stakeholders to plan, forecast, control, and continuously optimize financial performance, by providing timely, accurate and relevant financial information and decision support. 
• Providing financial accounting and regulatory reporting in full compliance with statutory and regulatory requirements, achieving best-in-class finance total cost of ownership by efficiently and flawlessly managing operational activities.
• Enforcing and coordinating rigorous financial controls and bank-wide governance and reporting to 

establish cost transparency, proactively managing financial performance against clear targets, and instilling a cost-conscious culture across the organization.

• Maintaining a continuous and accurate oversight also on the correct implementation of policies, 

effecting the financial reporting. 

This internship program targets exceptional candidates and is a pipeline program where successful interns may receive a full time offer to return the following year or get selected to follow a 1-year rotational professional development program within Finance. 

We are interested in a dynamic and eager intern excited to learn about any (or all) of the following departments within ING New York, Finance. This role will provide exposure and active engagement across all areas, as you participate in routine activities, as well as special projects in partnership with other departments. 

Local Regulatory Reporting

The Local Regulatory Reporting team within Finance New York is responsible for all regulatory and financial reporting for ING’s Swap Dealer, ING Capital Markets (INGCM) and ING’s US Broker Dealer, ING Financial Markets LLC (INGFM).  

• INGCM is a registered Swap Dealer with the Commodities Futures Trading Commission (CFTC).  INGCM is the sole ING entity generally authorized to enter into Swaps with US clients, which are principally institutional clients, corporates and bank and non-bank financial institutions as well as corporate lending clients of affiliates. INGCM provides customer facilitation services for interest rate, credit, equity, commodity, and foreign exchange swaps. INGCM became a registered standalone US Swap Dealer and must comply with CFTC capital, financial and regulatory reporting rules. 
• INGFM is a registered broker-dealer with the Securities and Exchange Commission (SEC), a member of the Financial Industry Regulatory Authority (FINRA), a member of the Securities Investor Protection Corporation (SIPC) and a member of various exchanges. The Company primarily provides customer facilitation services for equity and fixed income securities, securities lending activities, repurchase and resale transactions and underwriting services, and clearing and custodial services for ING’s affiliates. 

Financial Accounting & EU Regulatory Reporting

The Financial Accounting team (FA) within Finance department has the mission to maintain the holistic and robust reporting environment with accurate financial data and a substantial control framework. Proper presentation of financial & regulatory reporting for applicable entities in accordance with applicable ING Group policies & procedure, accounting and regulatory frameworks is our main theme. Core responsibilities include preparation of monthly financial statements and analytical review of Balance Sheet and Profit and Loss variances. 

Tax Reporting and Strategy

The Tax Department manages ING’s domestic and international tax function in the Americas.  The Tax Department advises on the tax implications of transactions and tax strategies for the businesses within the region and with the parent bank in Amsterdam. Day-to-day, the Tax Department manages ING’s U.S. tax accounting and tax compliance requirements while representing ING before various tax authorities that audit ING’s tax returns in the region.

Management Accounting

The Management Accounting team primary objective is to provide management information and financial advice to the ING New York management team & business leaders.  Information prepared and delivered to stakeholders includes corporate financial planning & forecasting. Core responsibilities include:

• Acting as a link between the (finance) business lines. 
• Facilitating the consolidated rolling forecast (RFC) process
• Preparing and facilitating the consolidated budget or Dynamic Plan (DP)
• Providing variance analysis reports and explanations. 
• Preparing the annual consolidated financial KPIs.
• Providing ad-hoc analysis and reports as needed to support stakeholders. (CFO, auditors)
• Consolidated cost and FTE reporting
• Facilitating the quarterly Performance Dialogues with the business lines
• Advising on financial key performance indicators
• Supporting development of strategic plans from financial perspective.

Procurement / Vendor Risk Management

Procurement is mainly responsible for creating, implementing, supporting, and controlling procurement policies, contract review, as well as external regulatory or legal requirements affecting procurement. In addition, the team is responsible for the interactions with the ING policy framework functions, such as Enterprise Risk Management, global process management and various policy owners.

• Manages the process of sourcing and procuring goods and services from external and intracompany suppliers.  Oversees contract execution between the business units, the legal department and suppliers.  
• Coordinates the risk evaluation of third-party vendors both before a business relationship is established and for the duration of the business contract. 

Competencies and Criteria for the role:

• Must be hardworking and detail oriented.
• Strong multi-tasking, analytical, and problem-solving skills
• High level of performance motivation, and eagerness to learn.
• Comfortable with Excel and spreadsheets. 
• Team player who is able to work collaboratively with others. 
• Rising seniors (Graduating in 2026) who are pursuing a bachelor’s/master’s degree in finance, economics or business-related field.  
• Minimum GPA of 3.3 on a scale of 4.0
• Good quantitative and analytical skills and basic understanding of financial instruments is preferred though not required. 
• Solid understanding of financial analysis/econometrics
• Good written and verbal communications skills 
• Working knowledge of one or more of the following; Microsoft Excel, VBA, Access, SQL, SAS, and Python
• In-office work requirements dependent on role

The salary for this role is $35/hour with the potential for overtime. 

Posting to be closed September 27th, 2024

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