Intern Risk Manager (f/m/d)

Join us now as an Intern - Risk Manager in Frankfurt within the Legal, Compliance & Risk function. In this role, you will support the Liquidity & ESG Risk team in monitoring liquidity, market, credit and ESG risks while contributing to quantitative analyses, reporting automation and risk-related projects.

This role is based in our Frankfurt office.

About the Job 

Investment Risk Management is part of AllianzGI’s risk management function and is structured around specialised teams dedicated to Market Risk, Liquidity & ESG Risk, and Credit, Counterparty & Pricing Risk monitoring. This focused approach ensures deep domain expertise and effective oversight. Our risk governance framework goes beyond legal and regulatory requirements and reflects our commitment to proactive and responsible risk management. This internship offers the opportunity to work in a dynamic international environment, gain hands-on experience in risk analytics and contribute to projects with high learning potential.

What you do

• Support the maintenance and enhancement of existing monitoring processes for liquidity risk, including daily net cash flow monitoring, monthly large client concentration monitoring and monthly liquidity stress testing monitoring
• Contribute to market and credit risk monitoring activities, including VaR, leverage and Credit VaR analyses
• Support ESG risk monitoring processes, including BoE stress test reports and ESG risk screening reports
• Participate in the review and update of climate change stress test scenario methodologies
• Contribute to the enhancement of the MSCI LMX Liquidity Metrics model for assessing the liquidity of fixed income portfolios
• Explore practical use cases for risk analytics, reporting automation and knowledge retrieval using AI and data analytics tools.

What you bring

• Currently pursuing a master’s degree or university degree in computer science, business administration, applied mathematics, finance or a related discipline, ideally with a quantitative and financial background
• Diligent team player who is eager to actively get involved in risk management and thrive in a dynamic environment
• Ability to independently prioritise tasks and work flexibly, efficiently and in a target-oriented manner
• Passion for quantitative analyses, automation and asset management
• Strong interest in artificial intelligence, machine learning and generative AI, with the ability to identify practical use cases for risk analytics, reporting automation and knowledge retrieval
• Practical knowledge of Python and SQL; exposure to data analytics, machine learning libraries, prompt engineering, Microsoft Copilot or similar enterprise AI tools would be an advantage
• Good written and verbal communication skills, with the ability to adjust communication style to different audiences
• Professional English skills, both written and spoken; previous experience in risk or asset management is a plus
• Excellent collaboration and stakeholder management skills, with the ability to build trusting relationships with diverse individuals
• Ability to work from the office at least three times a week to foster collaboration and team engagement
• Ability to use Microsoft Copilot, with a strong commitment to ethical and responsible AI practices.

 What we offer

• Balanced work environment: A dynamic office culture that supports flexibility and collaboration
• Mental health and wellbeing programs (EGYM Wellpass)
• Mobility solutions (Subvention Jobticket, Deutschlandticket etc.)
• Canteen subsidy
• Corporate benefits
• … and so much more.

About Allianz Global Investors 

Allianz Global Investors is a leading active asset manager, managing assets for individuals, families, and institutions worldwide. Our shared goal to shape a future of opportunity for our clients is foundational to our culture and our values. We look to attract, and actively nurture, individuals with the drive to achieve excellence at every stage of the investment experience.

We believe an inclusive culture is key to a flourishing workforce. Not only do we celebrate the broad range of experiences, backgrounds, and attributes that our workforce brings, but we support our people to live and work in a way that promotes their own wellbeing.

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.  

We are united by a shared commitment: to put our clients first and at the centre of everything we do. Their needs inspire our thinking and guide our actions.  

Together, we can build an environment where everyone feels empowered and confident to explore, grow and shape a better future – for our clients and for the world around us. At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. The foundation for this is our inclusive workplace, where people and performance both matter, and where integrity, fairness, inclusion and trust are at the heart of our culture.  

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations. 

 If you feel inspired to promote the active asset management experience, this is the place for you. Join our international, technology-enabled, and agile environment. Simply upload your CV in English to apply for this position.  If you need support to navigate our websites or at any stage during your application, please send an email with your request to recruiting@allianzgi.com.   

Join us. Let’s care for tomorrow.

How to Apply: Applying is quick and easy. Simply upload your CV, complete your personal details, confirm your consent for AI support in the “Additional Information” section, and submit your application.

To support our recruiters, we use Fit Score—an AI‑powered tool that highlights how closely your profile aligns with the role. This helps us review applications more efficiently and focus on what matters most: your skills and experience.

Good to know: The Fit Score is a support tool only. At Allianz, technology never replaces human judgment. Every application is carefully reviewed by our recruiting teams, ensuring a fair, thoughtful, and personal hiring process.

102636 | Legal & Compliance | Student | n.a. | Allianz Global Investors | Full-Time | Temporary