We are looking for a Senior Risk Manager (m/f/d) to join our Risk Management team in Munich, Germany. 

Your Team 

You will join the Enterprise Risk Management team, part of AGCS Risk Management within Allianz Commercial’s CFO Board Unit — a senior expert group responsible for ensuring that qualitative risks across the organisation are adequately identified, assessed, mitigated, and reported. The team works closely with the 1st Line of Defence, senior management, and Allianz Group centres to maintain a robust and effective risk management framework across all areas of the business. 

This is a senior role with meaningful global scope. Reporting to the Head of Underwriting Risk Management and Enterprise Risk Management, you will help facilitate alignment, strengthen collaboration, and support consistency across ERM workstreams. You will bring strong expertise, strategic thinking, and a collaborative mindset to a team that plays an important role in protecting the long-term resilience of Allianz Commercial. 

The Impact You Will Have 

As Senior Risk Manager, you will help ensure that qualitative risks across key areas of Allianz Commercial are adequately managed by their respective risk owners. You will oversee that material risks are identified in a timely manner, assessed consistently, mitigated in line with the organisation’s risk appetite, and reported clearly to senior management. In addition to your individual risk ownership responsibilities, you will coordinate set priorities, facilitate alignment, and support the team’s overall effectiveness without formal line management authority. Your expertise will contribute to strengthening Allianz Commercial’s risk culture and governance framework. 

Responsibilities 

• You will ensure that an effective risk management framework is in place for specific broader areas of Allianz Commercial, overseeing that risks are managed by the 1st Line of Defence in line with the organisation’s risk strategy. 

• You will test key controls and oversee that risk mitigation measures are implemented effectively, engaging directly with senior management of the business on risk management topics. 

• You will manage Internal Control System related activities for functions within your area of responsibility, ensuring robust and consistent control processes are in place. 

• You will own and maintain risk governance activities, including the implementation and maintenance of policies and standards relevant to your area of responsibility. 

• You will support coordination across ERM workstreams by facilitating alignment, driving internal communication, and helping to coordinate set priorities without formal line management responsibility. 

• You will interact with senior management of the 1st Line of Defence on risk management topics, including the definition and follow-up of risk mitigation measures. 

• You will contribute to the development and continuous improvement of qualitative risk management techniques, frameworks, and tools across the organisation. 

• You will support the broader ERM team’s effectiveness by fostering a collaborative team culture and ensuring consistency and quality across all risk management activities. 

What You’ll Bring 

• You bring several years of relevant experience in risk management, ideally around 7 to 10 years, with strong knowledge of qualitative risk management techniques including risk identification, assessment, analysis, and control. 

• You have a Master’s degree in Finance, Risk Management, Economics, or a related field; a relevant professional certification is an advantage. 

• You have strong knowledge of Non-Financial Risk Management frameworks and a good understanding of finance topics relevant to a global insurance organisation. 

• You have advanced risk analysis skills, with the ability to assess complex risk exposures, identify key drivers, and provide clear recommendations to senior management. 

• You have good IT skills in Microsoft Office and experience using Open Pages / ORGS; experience with VBA, R, or other relevant expert systems would be an advantage. 

• You have proven experience in risk governance, including the implementation and maintenance of policies, standards, and internal control systems. 

• You demonstrate advanced communication and presentation skills, with the ability to engage effectively with senior management and Group-level stakeholders on complex risk topics. 

• An interest in artificial intelligence, machine learning, or data-driven risk insights would be an advantage, particularly where these topics can support innovation and informed risk decision-making. 

• You have very good English language skills; proficiency in German or another language is a welcome advantage. 

• Expertise in integrating AI into various business functions, enhancing efficiency, and fostering a culture of data-driven innovation is crucial. 

Further Information 

For Germany, the base salary range for this position is between EUR 82,000 and EUR 108,000 (for a full-time role). The specific salary offered considers: 

• the requirements, scope, complexity and responsibilities of the role, 

What’s in it for you? 

Let’s care about everything that makes you, you 

We are committed to nurturing an inclusive environment where everyone feels they belong.  We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working.  Please feel free to discuss flexible working arrangements with us. 

Let’s care for your financial wellbeing 

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension. 

Let’s care for your opportunities to progress 

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered. 

Let’s care for life’s twists and turns 

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back. 

Let’s care for our society and our planet 

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients. 

Care to join us? 

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

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. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust. 

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. 

Join us. Let's care for tomorrow.