Risk Analyst - Investment Pricing

The Pricing Monitoring Unit is part of the Risk Management Department of Allianz S.p.A. and operates as a second line of control function. The function is part of the Market & Credit Risk & PMU team, and  is responsible for the independent oversight and validation of pricing methodologies applied to financial instruments and alternative assets, ensuring consistency with market practice and regulatory expectations. The unit plays a key role in supporting sound risk governance by liaising with the investment department, external asset valuators, and relevant internal Committees, and by providing robust analytical evidence to senior stakeholders.

KEY RESPONSIBILITIES

• Extrapolate and critically assess financial data and methodology documentation to support independent pricing oversight
• Validate the consistency of pricing methodologies with current market practice and internal standards
• Verify the correctness of financial data used within the pricing process
• Formulate alternative approaches to pricing methodologies and independently source market parameters
• Evaluate pricing correctness through reperforming and independent repricing exercises
• Assess the economic impact of independent repricing outcomes
• Monitor the first line of control in its pricing activities, ensuring compliance with applicable frameworks
• Liaise with the Investment Department and external entities responsible for asset valuation
• Report controls evidence, results, and independent validation findings to relevant internal Committees
• Support investment and risk assessment activities across the department

EDUCATION / EXPERIENCE / SKILLS

• Master's Degree in Finance, Physics, Mathematics, Statistics, or a related quantitative field
• 1-3 years of experience in investments, risk management, pricing, quantitative development, or an equivalent background with strong quantitative and analytical skills
• Programming skills in Python and VBA, as well as familiarity with statistical software and databases
• Solid technical expertise in pricing methodologies for both financial instruments and alternative assets (Corporate Bonds, Real Estate, Private Equity, etc.)
• Knowledge of financial information providers, in particular Bloomberg
• Strong attention to detail, problem-solving mindset, and ability to work effectively in analytical and data-driven environments
• Fluent in Italian and English (written and spoken)

Pursuant to Article 5(1) of Legislative Decree No. 96 of 7 May 2026, as amended and supplemented from time to time, the range applicable to the position offered is between € 35.000,00 gross and € 45.000,00 gross. Employment will be subject to the terms and conditions set forth in the National Collective Labor Agreement for Insurance Companies and the applicable Company Agreement. The final determination of the starting remuneration will be based on an evaluation of the candidate's qualifications, skills, and relevant experience in relation to the requirements of the role.

101739 | Risk Management | Professional | Non-Executive | Allianz Italy | Full-Time | Permanent