Intern Internal Risk Modelling in Group Risk at Allianz SE (m/f/d)

Who will you be joining?

Within Allianz SE, Group Risk (GR) is in charge of managing risks to bolster Allianz's financial strength and to support value-focused company leadership. As such Group Risk is responsible for monitoring and reporting on the Group's overall risk profile, and thus ensuring that individual Allianz companies adhere to the Group's risk governance principles.

Within Group Risk, the Internal Modeling (IM) team is covering the wide range of financial risk and capital management in the context of the maintenance and development of group-wide Internal Model with focus on real-world scenario generation, copulas and correlation settings management, risk aggregation, market risk, replicating portfolio, asset and tax modeling, etc.

How can you make an impact?

• Support the development of quantitative risk management tools both in terms of modelling and programming, maintained by Group Risk and the team.
• Implement and test existing and new methods for risk measurement and investment solutions for the management of Allianz's portfolio exposures in line with the regulatory requirements.
• Support to the maintenance and further development of key areas of the Internal Model with particular interest in risk aggregation such as the calculation of various Value-at-Risk (VaR) measures used for risk impact assessments both for the Group and the Operating Entities modelled internally.

What are you made of?

• Importantly must be enrolled in a Master program (during the whole internship contract) in a highly quantitative subject such as Mathematics/Mathematical Finance, Statistics, Actuarial Science, Physics, and Computer Science or related.
• Good command of statistical programming languages (e.g., R and/or Python, Excel VBA, Java) ideally showcased via shared projects on Git or similar, with the ability to use it in a productive environment and create prototypes. Ability to understand and work with large datasets and knowledge of basic algorithms.
• Familiarity with fundamental mathematical and statistical concepts such as calculation of various Value-at-Risk (VaR), time series analysis, copula, correlation and stochastic simulation methods, proved through relevant coursework or prior internship experience.
• Fluent in English and Self-motivated team player
• Must be able to commit to a full 6-month timeline (with potential for extension)
• Openness to creative and innovative solutions, as well as a passion for working with forward-thinking technologies such as artificial intelligence or internal ChatGPT.

Our highlights for you:

Health & well-being: Numerous sports and health offers as well as preventative measures lay the foundation for your physical and mental health.

Remuneration: In addition to an attractive salary, you can expect a monthly travel allowance of 30,00 € and a daily lunch allowance in our excellent staff restaurants.

And there is much more: Allianz SE Benefits

To learn about our recruitment process: Allianz SE Recruitment Process