Portfolio Risk Manager

The Risk Management Department is responsible for identifying, measuring and mitigating risks across the investment activities of Generali Asset Management. Within the department, the MtM Portfolio Risk Management team focuses on the definition, implementation and monitoring of methodologies and processes to assess portfolio performance and risk factors for the portfolios managed according to the Mark to Market approach.

The Portfolio Risk Manager will join the MtM Portfolio Risk Management team within the Risk Management Department of Generali Asset Management. The role contributes to the analysis, monitoring and communication of portfolio risk and performance across a wide range of investment strategies, supporting internal decision-making processes and interactions with senior management and external stakeholders. The position offers exposure to complex and diversified portfolios within a leading international asset manager, with strong analytical responsibility and high visibility towards key internal committees.

Key responsibilities

• Perform portfolio risk and performance analysis across multiple asset classes, including attribution, contribution and factor-based analysis;
• Set up and monitor risk limits and thresholds, assess breaches and anomalies, and actively support escalation and remediation processes;
• Analyze market, liquidity and sustainability/climate risks across investment portfolios, interpreting and challenging key risk metrics;
• Support internal and external stakeholders by clearly explaining methodologies, assumptions and results;
• Prepare analytical reports and presentations for senior management, internal committees and Boards of Directors;
• Respond to complex and ad-hoc analytical requests, contributing expert judgment and pragmatic risk insights;
• Contribute to the continuous enhancement and optimization of risk methodologies, tools and processes;
• Promote efficiency, automation and data quality improvements in risk reporting and analytical processes;
• Ensure risk analyses and reporting are aligned with regulatory requirements and internal policies and procedures;
• Support internal governance processes and contribute to regulatory-driven projects impacting risk management activities.

Requirements

• University degree in Economics, Finance or a related quantitative field;
• 6-10 years of experience in Investment Risk Management within an Asset Management Company or Financial Advisory for Institutional Investors (or equivalent exposure);
• Fluency in English, both spoken and written; knowledge of German and/or French are considered a nice-to-have;
• Solid understanding of financial instruments, investment processes and asset management business models;
• Knowledge of market risk metrics (UCITS Commitment exposure, AIF Leverage, VaR, TEV, sensitivities) and stress testing / scenario analysis techniques;
• Knowledge of liquidity risk analysis/metrics and stress testing;
• Knowledge of other investment risks such as credit risk, concentration/counterparty risk and sustainability risk, including climate physical and transition risks;
• Knowledge of the European regulatory framework relevant to asset management activities (e.g., UCITS, AIFMD, MMF Regulation, PRIIPs, SFDR, etc.);
• Strong quantitative background with solid knowledge of statistical and financial models applied to portfolio risk and performance analysis;
• Advanced use of Microsoft Office, in particular Excel;
• Experience with financial data / risk platforms such as Bloomberg and/or FactSet;
• Programming skills in Python and/or VBA, R, SQL, with demonstrated use in analytical or reporting contexts.

Nice to Have

• Hands-on experience with ESG and Climate Risk analysis and stress testing;
• Knowledge/experience regarding Liquidity Management Tools (e.g. gates, swing pricing) and related processes, methodologies and regulatory requirements;
• Experience with MSCI RiskMetrics (RM4) and/or SimCorp;
• Experience with PowerQuery, PowerBI or similar data analysis and reporting tools.

Company Profile

Generali is a major player in the global insurance industry – a strategic and highly important sector for the growth, development and welfare of modern societies. Over almost 200 years, we have built a multinational Group that is present in more than 60 countries, with 470 companies and nearly 80,000 employees. Our Group aims to become the standard bearer and industry leader in the European retail insurance market, building on our existing base of 50 million retail clients, out of an overall total of 72 million.

Generali Asset Management is a European investment specialist, offering a wide range of active funds and bespoke solutions across both public and private markets. Our investment experience is grounded in a solid heritage, with skills that have been developed and honed over time by managing Generali Group and external clients' assets.

Generali Asset Management S.p.A. guarantees a solid framework of services designed to support various asset management activities. Key elements include the provisioning of IT services over all applications underpinning the investment and asset management value chain (Front Office, Trading Desk, Investment Compliance, Middle and Back Office, Analytics and Reporting, etc.) The company also acts as a holding company, retaining share capital in the boutiques and Generali Investments’ companies.