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Investment Specialist Fixed Income and Unit Linked

Job Level:  Professional
Location: 

Milan, IT, 20145

Available until: 
Area of Expertise:  Finance & Accounting
Unit:  Allianz Italy
Employing Entity:  Allianz Spa
Job Type:  Full-Time
Remote Job:  Not applicable
Employment Type:  Permanent
ID:  11039

Allianz Investment Management (AIM) is the investment management arm of the Allianz Group, responsible for managing the risk/return profile of its EUR 780bn investment portfolio. Our global network of operations spans from Munich and Stuttgart to Milan, Paris, Minneapolis and Singapore and offers multifaceted career opportunities for outstanding financial talents.

Job Purpose/Role

As an investment professional and a member of our team at AIM (Allianz Investment Management) you will analyze, monitor and contribute to steering the EUR 90bn bn insurance assets of Allianz Italy in the segments Property & Casualty and Life & Health (traditional Life, Unit Linked and Pension Fund investment portfolios).

You will be in charge of different investment topics across the overall portfolio, contributing to the development and the implementation of strategic investment decisions, and you will participate in the investment portfolios’steering. Your focus, in particular, will be on macroeconomic and capital markets’analysis as well as on the selection, monitoring and steering of asset managers, esp. based on a robust risk / return performance contribution analysis for Unit Linked and Pension Products. This input will be used to support discussions about the steering implications of different macroeconomic scenarios for both the traditional and the Unit Linked businesses and to react timely to the changing market developments in terms of portfolio positioning and asset managers’ steering.

You will join an international community of industry professionals with a wide spectrum of insurance expertise (Investments, Finance, Risk, Underwriting, Actuarial), organized into established Global Teams or in cross-functional task forces related to ad hoc Group and local projects. You will be working on solutions that may have local roots and a global impact, as well as on the roll-out of global Group initiatives to local entities.

 

Key Responsibilities

In particular, your tasks will comprise:

  • Macroeconomic and Capital Markets’ analyses, including their implications in terms of investment strategy and portfolio steering, with a focus, in particular, on the traditional Fixed Income segment
  • Support to the Asset-Liability Management team on the development of the Strategic Asset Allocation for the traditional investment portfolios, under consideration of the liabilities’profile and within the boundaries of the Solvency II framework as well as of other insurance-specific constraints
  • Collaboration with the team responsible for Real Assets in reviewing the short- and mid-term positioning of the PC and traditional Life portfolios in consideration of capital market moves and within the boundaries of the approved Strategic Asset Allocation as well as of other steering KPIs
  • Support to strategic and tactical analyses to improve the resilience, solvency and risk / return profile of the portfolios, with a focus on traditional Fixed Income asset classes
  • Development of Fixed Income-related investment proposals for the top management, including risk-adjusted assessment
  • Peer analysis for traditional Life segregated funds and for Unit Linked respectively Pension products
  • Steering of the asset managers, including the selection of new asset managers, the monitoring of their performance, as well as the preparation of meetings with the asset managers with respect both to the traditional and to the Unit Linked/ Pension portfolios
  • Risk-return performance contribution analyses for Unit Linked and Pension Products
  • Support to the investment strategy monitoring process for Unit Linked and Pension Products
  • Support to the development of new Capital Light Life product concepts, both traditional and Unit Linked, in collaboration with the Life, Risk and Actuarial Departments
  • Cooperation with the Unit Linked Roundtable Expert Team within the AIM Global Network, dealing with common problematics, sharing local product solutions to be potentially extended to other entities and addressing common trends in customer needs and market opportunities
  • Contribution to the joint activities within the AIM international network of Experts in Fixed Income Investment Strategy and Asset Manager Management

 

Key Requirements / Skills / Experience

Qualifications:

  • Excellent Master Degree in quantitative subjects, preferably Finance, Economics, Financial Engineering, Actuarial Science
  • Further qualifications (e.g. PhD, CFA, MBA) beneficial
  • Up to 2-3 years working experience, ideally in the Finance / Investment area, are appreciated
  • Outstanding communication and presentation skills
  • Fluent English written and spoken; knowledge of Italian and/or other languages is a plus

Industry Specific:

  • Solid background and experience in Macroeconomic and in Capital Markets Analysis
  • Ability to run performance analyses (incl. peer group comparisons) and to carry out due diligence assessments on Mutual Funds
  • Knowledge of the regulatory framework for Italian Life products (Segregated Funds, Unit Linked / Pension Funds) appreciated
  • Knowledge and ability to deal with manifold accounting standards (IFRS, local GAAP, economic) and to evaluate investment strategies accordingly as a plus

Data and Digital:

  • Strong analytical and numerical skills to screen and analyse data
  • Deep knowledge of the Microsoft Office Tools, incl. advanced knowledge of Excel and mastery of PowerPoint
  • Working knowledge of the Bloomberg software and knowledge of programming languages are a plus
  • Strong ability to transform information into effective visual presentations (data visualization, presentation skills)

Behavioral:

  • Eagerness to learn and interest to work in the Finance / Investment area, with focus on both capital markets and financial / risk modelling
  • Entrepreneurship attitude and learning agility, orientation towards technical excellence, along with strong result-orientation and problem-solving capabilities
  • Ability to deliver on tight deadlines, to work independently, and to deal with separate work-streams in parallel
  • Strong team player attitude, including ability to work in flexible teams involving different local and/or international interfaces and to establish a constructive working climate

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. 
We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in.
We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.
Join us. Let's care for tomorrow. Both genders may apply in accordance with the L. 903/77 (s.m.i).