Munich Re is one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. We are globally active and operate in all lines of the insurance business.

Since our founding in 1880, we've been known for our unrivaled risk-related expertise and sound financial position. We offer customers financial protection when faced with exceptional levels of damage - from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season. We possess outstanding innovative strength, which enables us to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics.

We're also playing a key role in driving forward the digital transformation of the insurance industry, and in doing so have further expanded our ability to assess risks and the range of services that we offer. Our tailor-made solutions and close proximity to our customers make Munich Re one of the world's most sought-after risk partners for businesses, institutions, and private individuals.

Our corporate culture is defined by performance, mutual respect and trust. All this makes us an attractive employer providing global career development opportunities and prospects.

The Credit Risk Management team is responsible for the management of Munich Re's credit risks. This includes the development of the group-wide credit risk strategy and, more specifically, all credit risk management activities arising from investments, external retro and reinsurance placements, and reinsurance transactions that give rise to credit risk exposures, i.e. credit (re)insurance business or financially motivated reinsurance (FinMoRe). To achieve our goals, we work in close collaboration with other reinsurance departments, other risk management and investment management units as well as with our primary insurance group ERGO and asset manager MEAG.
For these challenging and exciting tasks we are looking for a (Junior) Credit Risk Manager. This position is offered for a 12 months period and shall start around 01 April 2026.
Your Job
The overarching task is to support the group-wide credit risk management processes. There are the following activities/tasks in which you may support or take responsibility based on your professional background and experiences. Specific tasks can be negotiated and designed to maximize the mutual benefit:
* Support in expanding and improving processes to gather, control and manage counterparty exposures and derive the respective group counterparty limits
* Analyse and assess pricing models for the credit (re)insurance segment and contribute to their approval
* Assist in validation, maintenance and development tasks of the Solvency II internal capital model for the credit (re)insurance segment
* Contribute to the initial approval and ongoing validation processes for rating models of external rating agencies
* (Re)insurance products that give rise to credit risk, including structured credit insurance solutions and FinMoRe transactions
* Contribute to the development of internal standards and processes for credit insurance of bank portfolio structures (synthetic risk transfer)

Your Profile
* University degree, ideally in economics, mathematics, business administration or a comparable field
* First experience in underwriting or risk management in the (re)insurance industry or in risk management, trading or structuring in a bank
* Understanding of fixed income and structured capital market products, (credit) (re)insurance products or experience with structured credit risk transfer techniques is a plus
* Curious to gain initial insights and experience in credit risk management at a large reinsurance company
* Conceptual skills and the ability to think in solutions
* Independent and responsible approach to work
* Good analytical skills and distinct ability to explain and present complex issues in a clear and simple way
* Very good command of English (written and spoken)
Programming skills (MATLAB, VBA, Python, R) are a plus



Application Instructions
In order to consider your application, we require your application to be submitted via our online applicant portal. In addition to uploading your CV, we recommend writing a cover letter to tell us more about why the position is of interest to you.


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.

Münchener Rückversicherungs-Gesellschaft
Sascha Srbecky, HR Consultant