Project Infrastructure Finance Underwriting Analyst

Location: Milano, IT

Are you passionate about finance and eager to build a career at the intersection of project finance and insurance? This is your opportunity to join a pioneering team, develop deep expertise in credit analysis and underwriting, and make a real impact on complex infrastructure transactions. If you thrive in a collaborative environment and are hungry to learn, we want to hear from you!

About the Role

As an Underwriting Analyst within our Project and Infrastructure Finance team, you will contribute to the analysis and evaluation of infrastructure and project finance transactions while developing your underwriting and credit risk expertise. You will work side by side with Senior Underwriters, gaining hands‑on experience across the full lifecycle of project finance deals—from initial credit analysis through transaction execution and ongoing portfolio management.

Key Responsibilities

• Assessment of project finance transactions and preparation of credit underwriting memoranda, including:
  • Analysis of market, business profile, and technical aspects
  • Review of cash flow models including scenario analysis
  • Review of financing agreements
• Review and execution of transaction documentation
• Portfolio management tasks, including:
  • Updating deal information
  • Analysis of the existing portfolio
  • Analysis of industry trends
  • Reviewing performance of existing transactions

Qualifications & Requirements

• Interest in project and infrastructure finance with an understanding of transaction structure and key financing documentation
• Experience or academic exposure to infrastructure sectors such as energy, telecom, transport, utilities or social infrastructure
• Familiarity with insurance markets, particularly credit products
• Strong written and verbal communication skills; ability to present complex analysis clearly to senior stakeholders
• Experience working in a cross‑functional or international environment, demonstrating adaptability and cultural awareness

Hybrid Work Model

Expected to work in the office at least three days per week.

Compensation & Benefits

For Italy, the annual base salary range is EUR 33 000 – EUR 55 000. Salary is determined by role requirements and candidate profile. Additional variable compensation is offered and benefits are available worldwide and in Italy, subject to company policy.

Swiss Re is an equal‑opportunity employer.