Structured Credit / Quantitative Analyst - Intern (m/f/d*)

Standort München, Deutschland Art der Arbeit Vollzeit Arbeitsform Vor Ort Job level Praktikanten & Werkstudenten Job ID 13622 Unternehmen Munich Re Anstellungsart Befristet Fachbereich Aktuariat u. Risikomanagment

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Munich Re’s Structured Portfolio Solutions (SPS) team underwrites banks’ portfolios of credit risk, such as residential mortgage loans, corporate loans or consumer loans worldwide. Underwriting those portfolios requires extensive quantitative and qualitative risk assessment in order to derive several parameters for the final risk modelling. One such transaction typically takes 2–12 weeks from start to finish, meaning interns can follow a transaction through its entire lifecycle. SPS business sits at the intersection of insurance & banking/investment. This internship offers the unique opportunity to get first-hand insights into the world of (credit) risk transfer business which normally takes place behind the curtain as this is a fully private, non-public market.

Your Job

Assist in underwriting structured credit portfolio business worldwide with a focus on Europe

Assist with the development of models for the analysis of credit pools as well as database driven cash flow modelling

Analyse, price and monitor loan portfolio transactions applying existing, but complex analysis models

Assist in developing our pricing model in python further to react to new client requirements

Assist in writing a credit memo for internal deal approval and inspect legal contracts

Market research (S&P, Moodys, Bloomberg, etc.) and benchmarking of a deal against the broader portfolio

Work closely with experienced colleagues to gather knowledge and experience about structured credit markets

Your Profile

Student with quantitative focus (e.g. mathematics, statistics, actuarial science, physics, computer science, or economics/finance with real analytical depth)

Experience and interest in programming (e.g. Python, R, VBA, SQL)

Fluent in English

Intrinsically motivated, curious team player with a positive attitude

Working collaboratively and effectively in an international group

Minimum duration: 6 months, switch to working student afterwards / in between potentially possible; start date: flexible between August 2026 and July 2027

No credit risk experience required Students from countries outside the EU require a German residence-/work permit. The first master's degree may not have been completed before/during the entire internship.

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.

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Münchener Rückversicherungs-Gesellschaft

Oksana Kern / Nina Hartmuth • Coordination Students Program

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