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Senior Associate, ALM

Posted Oct 13, 2026

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N26 GmbH

Berlin

EnglishSeniorSponsors visasMentions relocation support

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€41,000 to €67,000

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About this job

Who we are

N26 has reimagined banking for today’s digital world. Technology and design empower everything we do and it’s how we are building the global banking platform the world loves to use.

We've eliminated physical branches, paperwork, and hidden fees for an elegant digital experience and supreme savings. Giving people the power to live and bank their way is what gets us out of bed in the morning and inspires the work that we do.

We are headquartered in Berlin with offices in multiple cities across Europe, including Vienna and Barcelona, and a 1,500-strong team of more than 80 nationalities.

Your tasks

About the opportunity

The Senior Analyst ALM, Treasury is responsible for executing and overseeing a broad range of ALM related operations, including supporting on transaction execution and booking, providing relevant and data-driven analyses and taking over multiple recurring processes which are involved in the ALM function. A core focus of this role involves helping to manage the growing balance sheet of the bank across both its assets and liabilities.

With deeper expertise and autonomy, the role acts as a key point of contact for risk controlling, credit risk, regulatory reporting and system-related matters, ensuring accuracy and compliance across all functions. The Senior Analyst supports the investment life-cycle, contributes to audit readiness, and helps maintain efficient ALM management. By collaborating closely with finance and audit teams, this role strengthens operational stability while ensuring regulatory alignment within a dynamic financial environment

In this role, you will:

Asset-Side Operations

Transaction & Portfolio Management:

Adding and maintaining transactions in the Front Office system, including the necessary documentation according to internal policies. Take over the daily maintenance of the portfolio and monitor the life-cycle of multiple asset classes including bonds, promissory notes (Schuldscheine), public loans, investment funds, and mortgage loans. The role is expected to also lead to supervised execution of financial transactions.

Portfolio Optimisation:

Run analyses and provide insight on how to optimise the asset distribution and future allocations based on quantitative metrics in alignment with internal risk appetite and investment targets.

Risk Mitigation & Credit Operations:

Contribute to the analysis of hedging strategies, monitor their effectiveness, and support the execution of risk mitigation programs. Provide structural support in requesting and setting up bank credit lines.

Liability-Side Operations & Core ALM Modelling

Replication Portfolio:
Help build up, model, and maintain the replication portfolio framework for non-maturing liabilities.
Capital Market Issuances:
Support the balance sheet, structural, and modeling requirements of actual and future debt issuances, with a primary focus on secured or securitized assets.
Risk Profiling & Analytics:
Support the maintenance and validation of ALM models and assumptions. Assist in the modeling of new products and analyze their direct impact on the overall ALM risk profile.
Stress Testing & Regulatory Tracking:
Contribute to the preparation of regulatory stress tests and scenario analyses. Staying updated on relevant ALM regulations (CRR/CRD, MaRisk, EBA guidelines on IRRBB, Liquidity, etc.) and assist in assessing their balance sheet impact.

What you need to be successful:

Professional Background:
2-4 years of overall work experience in a Top Tier consulting or banking institution, featuring 1–3 years of focused, practical experience with fixed-income instruments, encompassing both cash vanilla and structured assets and interest rate derivatives
Treasury Expertise:
Strong understanding as well as practical experience with Bank Front Office and/or Treasury and/or ALM frameworks and the investment process for a regulated institute, alongside a strong command of broader economic data and market developments.
Regulatory Knowledge:
Knowledge of essential regulatory requirements , including an established knowledge of the current financial and banking legal environment, guidelines, and frameworks (CRR/CRD IV/KWG and MaRisk).
Academic Background:
Bachelor or Master degree in Business studies, Finance, Economics, or an equivalent quantitative qualification.
Languages:
Fluent English with business-level German language capabilities.
Autonomy & Drive:
High degree of availability, self-motivation, initiative, and a proven capacity to work with a high level of autonomy to drive processes with minimal oversight.
Resilience & Adaptability:
Clear willingness to work on recurring, operational tasks to support senior colleagues; effectively under pressure, with the psychological resilience and capacity to adapt quickly to shifting priority lines in a fast-paced neobank environment.

What’s in it for you:

Accelerate your career growth by joining one of Europe’s most talked about disruptors .
Employee benefits that range from a competitive personal development budget, work from home budget, discounts to fitness & wellness memberships, language apps and public transportation.
As an N26 employee you will have access to a Premium subscription on your personal N26 bank account. As well as subscriptions for friends and family members.
Additional day of annual leave for each year of service.
A high degree of autonomy and access to cutting edge technologies - all while working with a friendly team of peers of diverse nationalities, experiences, and backgrounds.
A relocation package with visa support for those who need it.

Equal opportunities for all

At N26, we believe our strength lies in our people and the varied perspectives they bring. We strive to build diverse teams that drive innovation and business success. We actively seek talent from all backgrounds and welcome applications from all genders, cultures, sexual orientations, abilities, neurodiversities, and ages.

We are committed to providing an excellent and accessible candidate experience. If you require any accommodations to make this process work for you, please let us know. We’re here to support you!

Discover more about Diversity & Inclusion at N26: https://n26.com/en-eu/diversity-and-inclusion

Do you see yourself thriving in this role?

We’d love to see your application even if you don’t meet 100% of the criteria. You may just be the right fit for this or other roles!

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Job facts

Employer: N26 GmbH
Role: Senior Associate, ALM
City: Berlin
Work mode: not stated
Language: English
Seniority: Senior
Posted: Oct 13, 2026
Source: StepStone

Company rating

Glassdoor 3.6
1K reviews
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Kununu 3.5
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