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SVP Structured Credit

Location Dublin, Ireland Job type Full-Time Work mode Hybrid Job level Professional Job ID 11689 Company Great Lakes Insurance SE Ireland Employment type Regular Area of expertise Client & Customer Management
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About Great Lakes Insurance SE:

Munich RE via its Primary Insurance entity Great Lakes Insurance SE has been continuously growing its “credit business” over the last decade with significant further growth ambitions for the coming years. One key area for growth is providing credit risk transfer / regulatory capital relief solutions to financial institutions.

In order to achieve Munich RE’s growth ambition in this area, we are building up a heterogenous, multi-talent team of experts with credit experience (capital market, lending, banking and/or insurance) from diverse backgrounds such as finance/MBA, CFA, mathematics/actuaries and lawyers.

Your tasks:

About the role:

For this specific position, we are looking for a structured credit portfolio expert based in Dublin/ Munich who has significant experience with structured finance transactions to strengthen the growth of our structured credit business. The position is focusing on underwriting loan portfolio transactions, especially so-called synthetic securitization transactions under the Basel III framework. The underlying loans may range from consumer (mortgage, auto, credit card, retail), over corporate (SME, CRE, receivable finance, leveraged finance, etc.) to specialty finance (project/asset finance, fund finance) loans. You will be part of an experienced professional team and contribute to the development of the structured credit business by underwriting structured credit portfolio transaction and preparing credit memos as basis for investment decision making.

Key Responsibilities: [Insert 8-10 bullets]

  • Originate attractive credit portfolio transactions and develop business in the area of synthetic securitizations under the Basel III securitisation framework for target banks and assets with an annual margin income of around €25-50m and manage an in-force portfolio of around €0.5-1.0bln.
  • Develop client relationships and deliver best in class solutions to target clients based on a deep understanding of their needs and motivations
  • Understand risk of collateral pools and shape transaction structures as leader of a deal team with a solid understanding of cash flow modelling, stress testing and scenario analysis for the transaction.
  • Lead and organize Due Diligences of banks/financial institutions  with regard to their processes and market position in the relevant product categories, in particular with respect to underwriting, servicing and risk models.
  • Responsible for the preparing and presenting high quality credit memos for structured credit portfolio transactions including a clear investment recommendation for approval committees.
  • Building and maintaining relationships with banks, servicers, modelling/ rating companies and other stakeholders for the business.
  • Staying up to date with relevant regulatory developments and market trends, representing Munich RE at conferences and participating in workgroups and roundtables regarding such business.

Competencies:

Drives vision and purpose (we think big) – you strive to convey a compelling and inspiring vision of the strategy and purpose of the wider organisation, region and your business and can translate strategy into action. You promote the celebration of successes and see failure as an opportunity to learn and develop. These fuel commitment, motivation, and unified efforts, creating connections within the business.

Global perspective (we think big) – you take a broad and global perspective when approaching complex issues and exploring opportunities, proactively building relationships with people from different cultures and regions.

Financial acumen (we think big) – you can interpret and apply understanding of key financial indicators to make better business decisions and incorporate a financial thinking lens into every major decision you make.

Collaboration (we lead the ‘we’) – you identify opportunities for cross-collaboration across teams, businesses and geographies, considering individual strengths, ambitions and diversity of thought and experiences, resulting in high performing teams that progress company goals.

Cultivates Innovation (we grow with our clients) – you are open to being challenged about existing ways of working. You support change, actively listening to proposals and embracing new ways of working that lead to positive improvements for our clients, both internally and externally.

Attracts and develops top talent (we care and dare) – you attract and select the best talent to meet current and future business needs, creating a pipeline of diverse talent, supporting and encouraging opportunities to develop and grow.

Emotional Intelligence (we care and dare/ we are clear and authentic) – you are self-aware, actively seeking regular feedback, asking and listening, learning, and unlearning. You are aware of yours and others' emotions and can self-regulate and communicate appropriately.

Key Skills & Experience:

  • Significant experience in investment banks, credit funds, or rating agencies with proven deal team leadership experience for structured portfolio products assessing loan pools, analysing structured credit transactions and designing cashflow waterfall structures.
  • Deep understanding of structured credit markets, existing relationships with relevant market participants and a robust network.
  • Deep knowledge of fixed income and structured portfolio products (SRT, ABS, RMBS, CLO, CDO, etc.) and experience with structured credit portfolio risk transfer products.
  • Proven track record in developing client relationships and/or business/ product lines, managing complex transactions, and leading project/ deal teams
  • Experience with retail credit asset classes (residential mortgage, auto loans), corporate/SME credit asset classes (loans, RCF, trade finance products) and/or specialty finance (project / asset based finance, fund finance).
  • Deep knowledge of banking regulation, especially with respect to the capital relief effect of credit risk mitigation and structured portfolio transactions (based on the Basel III securitisation framework) is highly desirable.
  • Experience in working with quantitative/rating models, including technical programming skills and cash flow modelling experience (stress testing, contagion and correlation modelling) is highly desirable.
  • Strong analytical skills in conjunction with a pronounced risk awareness and sense of responsibility, along with a willingness and ability to take decisions and communicate them in a clear and comprehensible manner to Senior Management.
  • Confident appearance and high social competence towards colleagues, customers and other Munich RE units. Team spirit, initiative, ability to work independently, solution-oriented thinking. Ability to use theoretical knowledge to develop practical, efficient solutions.
  • Ability to produce high quality documentation and presentations.
  • Fluent in English; knowledge of another major European language is desirable but not mandatory.

Desired Qualifications and Educational Background

  • A university post-graduate (ideally PhD or MBA) degree in Economics, Mathematics, Actuarial Science, Statistics, Physics, or a similar field.

Thought Leaders:

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the xxxx role/function will also become responsible for:

  • Ensure compliance with Insurance Distribution Directive
  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules
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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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