Structured Credit Analyst

Facility: Great Lakes Insurance SE Ireland

Description:

About Great Lakes Insurance SE:

Munich RE via its Primary Insurance entity Great Lakes Insurance SE has been continuously growing its "credit business" over the last decade with significant further growth ambitions for the coming years. One key area for growth is providing credit risk transfer / regulatory capital relief solutions to financial institutions. In order to achieve Munich RE's growth ambition in this area, we are building up a heterogenous, multi-talent team of experts with credit experience (capital market, lending, banking and/or insurance) from diverse backgrounds such as finance/MBA, CFA, mathematics/actuaries and lawyers.

As specialty provider of primary insurance services in Ireland, Great Lakes Irish Branch ("GLIR") is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

About the role:

For this specific position, we are looking for a structured credit portfolio analyst based in Dublin who is keen to work on structured finance transactions and strengthen the growth of our structured credit business. The position is focusing on monitoring business performance and underwriting loan portfolio transactions, especially so-called synthetic securitization transactions under the Basel III framework. The underlying loans may range from consumer (mortgage, auto, credit card, retail) to corporate (SME, CRE, receivable finance, leveraged finance, etc.) loans. You will be part of an experienced team and contribute to the development of the structured credit business by analysing structured credit portfolio transactions and preparing credit memos as basis for investment decision making.

Key Responsibilities:

• Performing portfolio analytics and data visualization tasks.
• Monitoring of structured credit portfolio transactions, analysing portfolio performance, updating stress analysis and reporting findings.
• Underwriting of credit portfolio transactions and supporting development of business in the area of synthetic securitizations under the Basel III securitisation framework primarily for European banks and assets.
• Risk assessment of collateral pools and transaction structures as part of a deal team with a focus on analysing the underlying portfolio, cash flow modelling, stress testing and scenario analysis.
• Supporting due diligence of banks/financial institutions with regard to their processes and market position in the relevant product categories, in particular with respect to underwriting, servicing and risk models.
• Contributing to credit memos for structured credit portfolio transactions including a recommendation for approval committees.
• Staying up to date with credit market developments and researching relevant market data.
• Maintaining relevant external vendor and internal modelling/pricing tools and deal monitoring infrastructure for structured portfolio and cash flow-based products.

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation's performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business' and wider organisation's goals.

Collaboration (we lead the 'we') – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

• Strong analytical skills in conjunction with a pronounced risk awareness and sense of responsibility, along with a willingness and ability to take decisions and communicate them in a clear and comprehensible manner.
• Experience with assessing loan pools, analysing structured credit transactions and designing cashflow waterfall structures is desirable.
• Solid knowledge of fixed income and structured products (ABS, RMBS, CLO) and experience with structured credit portfolio risk transfer products is desirable.
• Knowledge of banking regulation, especially with respect to the capital relief effect of credit risk mitigation and structured portfolio transactions (based on the Basel III securitisation framework) is desirable.
• Experience in working with quantitative/rating models, including technical programming skills and cash flow modelling experience (stress testing, contagion and correlation modelling) is desirable.
• Confident appearance and high social competence towards colleagues, customers and other Munich RE units. Team spirit, initiative, ability to work independently, solution-oriented thinking. Ability to use theoretical knowledge to develop practical, efficient solutions.
• Ability to produce high quality documentation and presentations.
• Fluent in English; knowledge of another major European language is desirable but not mandatory.

Desired Qualifications and Educational Background:

• A post-graduate degree in Economics, Mathematics, Actuarial Science, Statistics, Physics, or a similar field.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, this role/function will also become responsible for:

• Ensure compliance with Insurance Distribution Directive
• Ensuring compliance with Munich Re's Code of Conduct and the FCA Conduct Rules

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave, with private medical insurance and employers' contributory pension of 10%.

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.