ING

VP Rates Trading

In short

This role leads ING's Rates Desk in Manila, driving market-making in government securities, interest rate swaps, and cross-currency swaps while managing trading risk against approved mandates. It sits within ING's Financial Markets business, working closely with Sales, Risk, and Compliance teams. The role demands significant prior experience in rates trading at a bank or financial institution, strong expertise in fixed income and derivatives, and proven risk and stakeholder management skills.

Shape the Future of Fixed Income Markets with ING
Markets move fast. The best traders stay a step ahead.
At ING, we're looking for an experienced Rates Trading professional to lead our Rates Desk, drive market-making activities across government securities and interest rate derivatives, and help clients navigate an evolving fixed income landscape. This is an opportunity to play a key role within Financial Markets while working alongside talented colleagues in an international banking environment.
Role Summary
As the Rates Trading Lead, you will be responsible for managing and growing the Rates Desk, executing transactions within approved mandates, and maintaining risks within established limits and target risk profiles. You will oversee trading activities across government securities, interest rate swaps, cross-currency swaps, sovereign and corporate fixed income products, while contributing directly to the desk's profitability and strategic direction.
About the Team
You will join ING's Financial Markets business, partnering closely with Sales, Risk, Compliance, and other global stakeholders to deliver market-leading solutions for clients. The team operates in a highly collaborative environment where market insight, innovation, and disciplined risk management are equally valued.
What You'll Be Doing
•Lead the Rates Desk and deliver against P&L objectives.
•Conduct market-making activities in Government Securities.
•Trade and manage Interest Rate Swaps (IRS) and Cross-Currency Swaps (CCS).
•Support the development of fixed income and derivatives structures for clients.
•Manage local currency fixed income trading across sovereign and corporate issuances, including Global Peso Notes (GPNs).
•Monitor market developments and identify trading opportunities and hedging solutions.
•Maintain compliance with trading mandates, internal controls, and risk limits.
•Partner with Sales teams to provide market insights and technical expertise to clients.
•Build and maintain market intelligence, research, and trading databases.
•Strengthen relationships with market participants and industry networks through relevant market associations and activities.
•Act as backup for the FX and FX Swaps desk when required.
What We're Looking For
•Significant experience in Rates Trading within a bank or financial institution.
•Strong expertise in government bonds, fixed income products, interest rate derivatives, and cross-currency swaps.
•Proven ability to manage risk, trading limits, and regulatory obligations.
•Strong commercial acumen with experience delivering trading revenue and client solutions.
•Deep understanding of local and global financial market dynamics.
•Excellent communication and stakeholder management skills.
•High ethical standards and commitment to compliance and market conduct.
•Ability to thrive in a fast-paced, highly regulated trading environment.
What We Offer
•The opportunity to lead a critical trading function within a global financial institution.
•Exposure to complex financial markets and sophisticated client solutions.
•A collaborative and international working environment.
•Ongoing professional development and growth opportunities.
•A culture built on trust, integrity, innovation, and collaboration.
How to Apply
Click the apply button on our careers site and submit your application through Workday.
About ING
With 65,000 employees and operations in approximately 40 countries, there is no shortage of opportunities for people with initiative who want to help people take a step ahead in life and in business.

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