Intern (m/f/d) Valuation of illiquid debt instruments

Job Purpose/Role

We are looking for an Intern (f/m/d) to join our Investment Controlling – Debt Strategies department in Munich or Frankfurt starting from January 2026 onwards. 

What you do

• Valuation of private debt instruments applying advanced pricing tools based on widely accepted and appropriate valuation techniques
• Analyze issue documentation of private debt instruments as well as their set up in the internal pricing engine
• Analysis and set-up of appropriate yield and default curves using internal and external market data to price private debt instruments
• Support ongoing review and life cycle management of private debt instruments, including cash flow adjustments, rating migrations, and other relevant updates
• Support the preparations for investment committees and board meetings

What you bring

• Enrolled in advanced semester of Bachelor's or Master's degree with a financial or quantitative background
• Basic programming skills with first practical experience in one or more of SQL, Python or other object-oriented language is a plus
• Fluent in spoken and written English, good knowledge of German is a plus
• The ability to work independently and the ability to work flexibly in a team environment and to think out of the box
• Very good team player with high positive work attitude

What we offer  

• "New Normal", it's not news to us: As a global company, we've known the hybrid model before it was 'in'. Work flexibly according to internal guidelines (e.g., hybrid model/ flexible working hours)  
• Support for what matters: Mental health and wellbeing programs  
• Investments in your career: Career opportunities within the entire Allianz Group  
• Investments in your skills:  Comprehensive learning and development offerings, including certifications and professional qualifications 
• … and so much more 

 83465 | Asset & Investment Management | Student  | n.a. | Allianz Global Investors | Full-Time | Temporary

About Allianz Global Investors 

Allianz Global Investors is a leading global active asset manager. 

We invest for the long term and want to create value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their needs, and build solutions based on capabilities across public and private markets. Our focus on enhancing our clients' assets leads naturally to a commitment to sustainability for positive change. Our goal is to enhance the investment experience for clients, whatever their location or goals. 

Putting our clients' needs first, behaving in a transparent way and treating people fairly means acting with integrity. We encourage a collegial culture, that supports individual responsibility. We invest in the development of our employees to maximize the power of innovation.  

We at Allianz believe in a diverse and inclusive workforce, we are committed to the principles of Equal Employment Opportunity and to helping applicants with any disabilities. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Great to have you on board. 

If you feel inspired to promote the active asset management experience, this is the place for you. Join our diverse, 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  

To Recruitment Agencies: 

Allianz Global Investors has an in-house recruitment team that sources great candidates directly. Therefore, Allianz Global Investors does not accept unsolicited resumes from agency or search firm recruiters. 

When we do work with recruitment agencies, that engagement is formalized by a contract. Fees will only be paid when there is a contract in place. 

Without a contract in place, we will not accept invoices on unsolicited resumes, even if the candidate was ultimately employed by Allianz Global Investors. 

Finally, please do not contact hiring managers directly.