Structured Credit Modeller

About Great Lakes Insurance SE:

Great Lakes Insurance SE, Irish Branch (GLIR) is the centre of excellence for credit insurance business at Great Lakes Insurance SE. As such, the branch is handling and supporting all direct credit insurance business of Munich RE.

Direct credit insurance business of Munich RE has been continuously growing over the last decade with significant further growth ambitions for the coming years. Such growth comes with growing complexity of operations by additional products, regions or client groups and structures.

In order to achieve Munich RE’s growth ambition in this area, it is vital that GLIR has robust and efficient processes ensuring that day‑to‑day operations run efficiently, compliantly, and in line with the firm’s strategy and overall governance.

About the role:

 Munich RE, through 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. A key area of focus is providing credit risk transfer and regulatory capital relief solutions to financial institutions.

To support this growth, we are looking for a Structured Credit Modeller based in Dublin who combines strong analytical and quantitative skills with an interest in credit risk. The role offers a unique opportunity to help develop the analytical infrastructure of a rapidly growing business while gaining exposure to the structured credit market, with a particular focus on Synthetic Risk Transfer (SRT) transactions.  Over time, you will take increasing responsibility for the underwriting of SRTs and other structured credit transactions.

Key Responsibilities:

• Support the continued development of the structured credit database, monitoring platform and analytical infrastructure (written in Python) underpinning the structured credit business.
• Work with large datasets to generate portfolio insights, enhance reporting capabilities and support transaction monitoring and repricing activities.
• Support development of pricing and benchmarking tools to improve consistency, transparency and comparability across transactions.
• Support the analysis and execution of structured credit transactions, including SRT transactions, by performing portfolio analysis, cash flow modelling, stress testing and scenario analysis.
• Conduct due diligence on banks and financial institutions, assess underwriting and risk management practices as well as banks internal and regulatory risk models, and prepare credit memoranda and recommendations for internal approval committees and external reinsurance partners.

Competencies:

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

Key Skills & Experience:

• Several years of relevant professional experience developing analytical databases and working with large datasets. Strong quantitative modelling, programming and cash flow modelling skills, together with experience developing analytical tools, are required.
• Experience in credit analysis and knowledge of structured credit products such as SRT, ABS, RMBS, CLOs, CDOs or similar financing structures is desirable.
• Strong analytical and problem-solving skills, combined with sound judgement, attention to detail and the ability to clearly communicate recommendations and conclusions.
• A collaborative mindset with strong interpersonal skills, the ability to work independently and a practical, solution-oriented approach to problem solving.
• Ability to translate complex analytical concepts into clear and actionable insights for both technical and non-technical stakeholders.
• 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, Finance or a related quantitative field.

Thought Leaders:

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, this role 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 along with private medical insurance and employers' contributory pension of 10%

Diversity, Equity & Inclusion:

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.