Munich Re Markets: Derivative Performance Analyst (m/f/d)*

Munich Re; München; On-site; EUR 90,000 - 130,000; Full time

Benefits offered by this job

Competitive salary

Retirement provision

Work-life balance

Hybrid working

Health management

Job summary

Munich Re Group Markets in Munich seeks a highly analytical professional to monitor and analyze the impact of capital markets on our portfolio, including performance attribution and P&L explanations. You'll work in our front office system handling onboarding, reporting, maintenance and automation tasks.

The role requires strong R and SQL skills, familiarity with derivatives and IFRS 17/ Solvency II knowledge is a plus, plus 3+ years in (re)insurance or finance.

Qualifications

• University degree in mathematics, physics or computer science with strong financial math knowledge.
• Experience with derivatives and capital market products is required.
• Advanced skills in R and SQL; Java knowledge is a plus.

Responsibilities

• Monitor and analyze the impact of capital markets on the portfolio (Performance Attribution, P&L Explain).
• Handle monitoring, onboarding of transactions, reporting, maintenance and automation in the front office system.
• Drive automation initiatives by identifying gaps, improving code, and developing new tools (R/SQL).
• Support QA processes and internal/external audits.

Skills

R

SQL

Java

English

German

Education

Mathematics/Physics/Computer Science degree

Tools

Calypso

Job description

Munich Re Markets structures and administers bespoke reinsurance solutions for Munich Re’s life insurance clients with a focus on clients’ products in the savings, retirement and investment space. These transactions typically involve combinations of insurance risks and complex financial market risks. They have a relevant impact to our clients’ capital and risk management.

Business written thus far offers a great variety of insurance contracts together with a wide range of hedge products. The portfolio is valued using market consistent principles as well as following a variety of accounting standards (IFRS 9 being the dominant one). Among others, the team is responsible for daily monitoring and regular reporting of this business, with interfaces to risk management, reserving, controlling, as well as to risk carriers in various countries (e.g. in Switzerland, Malta and China). Reporting duties are formally recurring, but as the portfolio and external requirements are evolving constantly the content is always different.

To keep up with the growing volume and complexity, a high degree of automation and constant evolution of tools is required.

Are you a self-motivated team player with strong analytic skills? And do you enjoy solving problems and developing tools? Are you interested in working in a multinational and interdisciplinary team of highly skilled experts? Then a multitude of challenging tasks awaits you!

Your Job

• Monitor and analyze the impact of capital markets on our portfolio ('Performance Attribution', 'P&L Explain')
• Within our front office system perform monitoring, onboarding of new transactions, reporting, maintenance and automation tasks
• Drive automation initiatives by identifying process gaps, enhancing existing code and developing new tools (primarily using R and SQL)
• Contribute to recurring and ad hoc team activities, including quality assurance processes and internal and external audit support

Your Profile

• University degree in mathematics, physics or computer science, and strong knowledge of higher financial mathematics (including valuation models for derivatives), are a must
• Both theoretical knowledge and practical experience with in particular derivatives, but also other capital market products
• Advanced skills in R and SQL; ideally complemented by some Java knowledge
• At least 3 years of professional experience in (re-)insurance (Life, Risk Management or Reserving), investment banking, trading, consulting or related fields
• Ongoing or completed training towards fellowship in an actuarial society would be considered an asset
• Knowledge of International Financial Reporting Standards (IFRS 9/17), and European and/or Chinese regulatory standards (Solvency II, SST, C-ROSS) would be an advantage
• Experience with banking software or trading platforms, particularly Calypso, would be an advantage
• Experience in project work and ideally project management
• Excellent analytical and conceptual skills
• Fluent business English; German language skills would be an advantage

About Us

As the world's leading reinsurance company with more than 16,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.
• Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.