(Senior) Associate Credit Manager commercial real estate debt (m/f/d)

We are seeking to recruit a (Senior) Associate Credit Manager (m/f/d) who will be assessing the attractiveness of real estate investments within Commercial Real Estate Loans with the focus on populating and reviewing Issue Credit Ratings within a second-line of defense function. The focus will be on new transactions as well as on the existing portfolio.The (Senior) Associate Credit Manager (m/f/d) will be part of the PIMCO Prime Real Estate Portfolio & Analytics Function and will be based in Munich.
80335 München

Job Level


Key Responsibilities

Generating and approving Issue Credit Ratings for Commercial Real Estate (CRE) Debt Transactions
Development, maintenance and (re)validation of the CRE Rating Model with the Model Provider in accordance with the needs from internal Business or Risk Functions
Support other internal functions with requests regarding CRE ratings (e.g. stress tests, rating sensitivity analysis)
Provide guidelines and trainings across all CRE Rating Model users to ensure consistent usage of the tool
Analysis of new investments by writing independent transaction assessments for the Investment Committees based on deep insights into transactions
Close collaboration and interaction with loan origination teams in Munich / Paris / London (including the participation in site visits, etc.)
Ongoing active risk focused analysis of single portfolio investments incl. regular quarterly transaction assessments and loan reviews, rating reviews, impairment notifications etc.
Interaction with internal stakeholders to address investors‘ requirements
Support ongoing development of lending governance framework

Key Requirements

Minimum 4 years of relevant professional experience in the real estate business
Master’s degree in Business Administration / Finance / Mathematics or similar, ideally with a special focus on real estate
Additional qualifications as e.g. CFA, CCrA are highly appreciated
Excellent knowledge of Microsoft Office programs, in particular MS PowerPoint and MS Excel, programming skills are a plus
Strong analytical skills
Proficiency and strong communication skills in English are required, further languages as e.g. German or French are highly beneficial
Performance oriented and self-motivated
Strong team player and ability to work under pressure and to meet tight deadlines
Ability to collaborate and work with various departments in an international, diverse and highly interdisciplinary environment
Travel activity required


Onboarding: A mentor, a buddy program and a global welcome event will help you getting started.
Learning: A large portfolio of continuous learning opportunities will help you staying relevant in your current role and growing into future workplace demands.
Working place: An open and international working environment with a diverse and inclusive culture will inspire your everyday work. A working model which balances remote and office based work will give you the flexibility to organize the way you work.
Benefits: A company pension scheme, well-being initiatives, sports offers and other local benefits will allow you achieving a positive work life balance.

Apply now

PIMCO Prime Real Estate GmbH
A company of Allianz

PIMCO Prime Real Estate

A leading global real estate investor and manager, PIMCO Prime Real Estate is a PIMCO company and part of the PIMCO real estate platform, focusing on the Core and Core+ segments of the market and managing the Allianz Group’s $93B+ real estate mandate.
Formerly known as Allianz Real Estate, we manage a global investment portfolio of $97.5B AUM, with an international team of over 490 employees working in 17 offices in Belgium, China, France, Germany, Italy, Japan, Singapore, Spain, Sweden, the UK and the U.S.
PIMCO’s real estate platform is one of the largest and most diversified in the world, with over $190B in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets.
Allianz Group

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.
We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. 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.
Join us. Let’s care for tomorrow.
Note: Diversity of minds is an integral part of Allianz‘ company culture. One means to achieve diverse teams is a regular rotation of Allianz Executive employees across functions, Allianz entities and geographies. Therefore, the company encourages its employees to have motivation in gaining varied skills from different positions and to collect experiences from across Allianz Group.