Whitin the Liability‑Driven Investing Unit, the Indirect & Alternative Investments team is responsible for analysing and implementing indirect investment strategies and for executing tactical asset allocation decisions across the fixed income and equity universe relevant to its remit. It ensures smooth and efficient management of assigned portfolios by carrying out all operational activities in line with internal guidelines, prospectuses, regulations and defined targets. The team conducts ex‑ante assessments of investment choices, verifying compliance with limits and performing all preliminary checks on order pre‑allocation — including reviews related to conflicts of interest, suitability and related‑party considerations — for the asset classes under its responsibility. It manages the pre‑allocation and notification of orders to the Trading Desk for the instruments within its scope. It also analyses ex‑post portfolio results, such as performance, volatility and tracking error, drawing on the insights produced by Risk Management. In addition, the team prepares reports and documentation required by the Head of the LDI structure and maintains clear, traceable records of key selection and investment decisions to ensure full transparency and auditability.

We are seeking a highly motivated and talented Investment Analyst / Associate to join our Indirect & Alternative Investments -Private Markets team. The successful candidate will support the execution, monitoring and reporting of investments across a diversified portfolio of alternative assets, including private debt, infrastructure, private equity and other private market strategies.





This role offers a unique opportunity to work within a leading institutional investor, gaining direct exposure to investment decision-making processes, fund managers, transactions and portfolio management activities in an international environment.

Key Responsibilities

- Support the evaluation and execution of investment opportunities across private market asset classes.
- Perform financial, commercial and operational due diligence on fund managers and investment opportunities.
- Analyze investment proposals, business plans, financial models and market research.
- Actively contribute to investment memoranda, presentations and materials for internal committees and governance bodies.
- Monitor portfolio performance, risk metrics and key developments across existing investments.
- Contribute to portfolio reviews and periodic reporting for senior management and stakeholders.
- Interact with external managers, advisors, consultants and other market participants.
- Conduct industry, macroeconomic and thematic research to identify emerging trends and investment opportunities.
- Support internal projects aimed at enhancing investment processes, monitoring tools and reporting capabilities.

Requirements

- Master's degree in Finance, Economics, Business Administration, Engineering or a related quantitative discipline.
- Additional professional qualifications (e.g. CFA or progress towards CFA)



are considered a plus.
- Approximately 3-5 years of experience in private markets, asset management, investment consulting, investment banking, corporate finance or related fields.
- Exposure to alternative investments, private debt, infrastructure, private equity or institutional asset management is considered an advantage.
- Fluent English, both written and spoken.
- Excellent PowerPoint and Excel skills.
- Solid understanding of investment processes and financial markets.

Soft Skills:

- Naturally curious and eager to continuously learn.
- Passionate about investments and financial markets.
- Energetic, proactive and intellectually engaged.
- Dynamic and comfortable operating in a fast-paced environment.
- Flexible and adaptable when priorities evolve.
- Rigorous in the execution of assigned tasks and committed to meeting deadlines.
- Detail-oriented, with a strong sense of ownership and accountability.
- Collaborative, with excellent interpersonal and communication skills.
- Motivated by professional growth and long-term development within the organization.

What we offer

The role is offered within the 3^Area Competente category, under the National Collective Labour Agreement for the Banking Sector (CCNL Credito) and the applicable Company Collective Agreement (Contratto Integrativo Aziendale).

The starting gross annual salary is €40.000. The final offer will reflect the candidate’s professional experience and the technical and interpersonal competences required for the position and may include an individual variable compensation component.

We also offer:

- Health insurance coverage
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📌 Investment Analyst (Lombardia)
🏢 Generali
📍 Lombardia