Full-time (38 hrs./wd) Reference number (04/2025) About Athora Athora is a leading European savings and retirement service group. We focus on growing our franchise, via acquisition, transfer or reinsurance of portfolio from other insurers, and delivering a competitive long-term return to our customers. Our primary insurance businesses are in Netherlands, Belgium, Germany and Italy. Our reinsurance subsidiaries are in Bermuda and Ireland. Per end of 2024, the Athora Group employs some 1,500 staff and has around 2,8 million customers with Assets under Administration of €73bn. Guided by our values – Dare to be different, Seek simplicity, Care and Do the right thing – we have ambitious plans to grow our business across Europe and we are looking for team players to join us on our journey. We offer a fast paced, dynamic and collaborative work environment where our actions define us, more than any words or promises. People are at the heart of what we do, and we value that humanity. We do what we do as well as we can because we are about improving lives, inside and outside our business. Location: Munich or Wiesbaden Purpose of this role As a senior credit risk analyst you will have a unique opportunity to work as part of the Athora Germany Risk Management team and Athora Group Credit Risk Team, which is strategically important global team of credit experts providing credit assessment of private credit assets. In this role you will contribute to strengthening of the risk management function and success of the Athora business. You will be part of a strong team of risk experts and actuaries and a competent spearing partner supporting business functions in risk identification, assessment, management and monitoring, whereas you will collaborate cross-functionally and with Group Risk. Key Contribution Areas Responsible for monitoring and managing credit risk portfolio of Athora Germany, covering private debt and publicly traded assets and ensuring that existing and new investments are within credit risk appetite for different asset classes. Contribute to further improvement of credit concentration and counterparty limit management system, support automation of limit management and reporting process, monitor adherence to approved limits and coordinate with the local investment office required actions in case of limit breaches. Responsible for monitoring and validating external ratings by public rating agencies, reporting rating migrations and making recommendations on limit adjustments. Responsible for credit assessment and internal rating on Mid-Market Loans (MML), Large Cap Direct Lending, Asset Backed Lending and Infra private assets. Contribute to further development of the Athora private credit internal rating methodology. Review and oversee independent valuations for private credit assets. Ensure integration of ESG and climate risk measurement into the credit underwriting and investment processes. Responsible for oversight of the credit risk of internal transactions, reinsurance, bank counterparties and complex structuring proposals using internal or external ratings. Perform asset, sector and thematic risk deep dives on the portfolio. Provide input into stress and scenario testing frameworks Closely manage, leverage and develop relationships with key asset managers, including Apollo. Contribute to effective collaboration within Global Credit Center of Excellence, sharing credit expertise with Athora business units and the Group. Contribute to effective preparation of management reporting for Athora Germany Risk Committee, Investment Committee, Group Credit Assessment Forum and other governance bodies. Functional or Technical Knowledge and Skill Required Advanced qualifications reflective of a high degree of numeracy CFA or CIA qualification, minimum of 10 years of experience with corporate credit exposure and fundamental credit analysis in a financial service company Experience of public IG credit, public ratings, Mid-Market Loans (MML), Large Cap Direct Lending, asset backed lending and infra private credit assets, property dept, intra-group transactions Experience in effective internal rating assessment of MML, Large Cap Direct Lending, Asset Backed lending, and Infra private credit assets Familiarity with EU Solvency II regulations, and the approach of prudential supervisory to ALM / investment risks in life insurance Ability to use investment data sources and tools (Bloomberg, UBS Delta etc.) and working tools (rating scorecards, MS Excel, MS Word and MS PowerPoint) Personal Capabilities Required A strong team player at all levels, who collaborates easily and effectively across functions, business units and with external asset managers, senior decision makers and technical experts to ensure that optimal solutions are developed and results are delivered Highly organised, able to work independently to tight deadlines in a fast-paced environment and manage conflicting priorities, in coordination with various stakeholders Flexible and with positive attitude towards change, resilient, self-motivated Highly commercially focussed and committed to excellence driven to solve problems and deliver highest standards of quality; takes responsibility for implementing better ways of doing things Able to see and shape the “bigger picture”, with an absolute command of the detail, credible in front of executives, senior supervision teams, rating agencies, and other key stakeholders Experienced in providing sound opinions and constructive challenge, able to convince others and make them part of the solution; uses sound judgement to prioritise and resolve conflicts constructively; committed to joint success Experience working within insurance risk management in an international business environment Strong analytical skills with strong communication skills for efficient stakeholder management Benefits Remuneration: Permanent contract with 13.3 salaries including vacation and Christmas bonuses, regular increases in accordance with the collective agreement, and the possibility of special payments Flexibility: In coordination with your team, you can work when you are most efficient – through flexible working hours between 6 a.m. and 9 p.m. with time tracking, up to 60% home office and the possibility of part-time work Balancing family and career: 30 vacation days, as well as work-free Christmas Eve and New Year's Eve, are a matter of course for us. A counseling service (Employee Assistance Program) on topics from your private everyday life, such as promoting mental health, support in finding childcare, caring for relatives, and much more, round off the package. Provision: We offer you a company pension plan with an attractive employer's allowance and capital-forming benefits – plan for your future together with us. Eating together: At the Wiesbaden location, a canteen with discounted lunch specials awaits you – take advantage of this together with your colleagues for a pleasant break. Voucher: Every month, you will receive a credit of €40 on your voucher account, which you can redeem for a wide range of products and services. Mobility: Do you have the Deutschlandticket? We are happy to support you in using public transport with a monthly travel allowance of €20. Security: We offer you a job at a forward-looking German company with the strong backing of an international, financially strong holding company. Culture: You can expect a varied job, changing challenges and flat hierarchies, as well as a professional working environment in which personal initiative is supported and a team that works together in a spirit of trust and partnership. We are sculpting the future with our new business model. Become a part of Athora and let’s shape the future together If you think that our mission can become yours, send your application (documents in English please) to us as well as your salary expectations.As long as you can see that the job vacancy is online, we'll be happy to receive your application. We look forward to receiving your application. For further information, please contact Sabine Hauschild, Tel. 0611/7118-9622. LI-Hybrid Apply By: