The Insurance Operations
Munich Re Group is one of the world’s largest reinsurers. It was founded in 1880 and is based in Munich, Germany. Munich Re is a global operation that spans all continents and has 3 separate business pillars: reinsurance, primary insurance and health.
MEAG New York Corporation (MEAG NY) is a an indirect subsidiary of Munich Re. MEAG NY is an internal asset manager having responsibility for the US and Canadian dollar invested assets of Munich Re and its direct and indirect subsidiaries. MEAG NY provides investment advisory services with respect to fixed income instruments and derivatives for Munich Re with over $40 billion in assets under management.
Future focused and always one step ahead
The risk group manages the risk of all the portfolios in the company. In addition to using the common measures of risk management (VaR and scenario analysis), the risk group anticipates potential risks and with the help of credit research and potentially other groups, acts proactively to address those risks. The analyst will work with a wide array of fixed income instruments and this role will cover both market and credit risk.
- Using existing tools as well as creating new processes to analyze, measure, and monitor assets risks. Such risks include, but are not limited to: market risk, credit risk, liquidity risk, accumulation risk, etc.
- Working with related group entities to arrive at coherent risk management processes and exchanging information to improve the overall framework.
- Identify evolving risk themes and their impact on investments across individual names, sectors and asset classes.
- Working with credit research to execute credit surveillance process. Conduct surveillance of idiosyncratic risks for credit-sensitive securities that are held in MEAG portfolios.
- Provide independent formal research on debt issuers to ascertain a credit profile and gauge the willingness and ability for debt repayment as needed
- Work closely with quantitative research, technology, and risk teams in other international MEAG locations to increase functionalities of risk analytics system.
- Preparation and review of ex ante risk tracking error reports including scenario analysis, monitoring of risk budgets, regular presentations to portfolio management and other groups.
- Strong analytical background – graduate degree in Economics or Business Administration or a scientific discipline.
- Knowledge of a wide array of fixed income instruments.
- Typically has two to five years of experience in risk management function and a broad understanding of financial markets. CFA and FRM designation are preferred, but not required.
- Experience in managing both market and credit risk.
- Confidence to venture into new areas, not necessarily in his/her areas of expertise.
- Good team player with ability to interact and work closely with other departments.
- Good written and verbal communications skills.
- Experience in the application of quantitative analysis and solid knowledge of Excel, Bloomberg API and Power BI is preferrable.
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
MEAG New York Corporation
United States of America
Area of Expertise