Job Description
About us
At Munich Re Specialty – Global Markets (MRS-GM), our ambition is to become the leading Primary Specialty Insurance provider through an effective strategy, superior products, and industry leaders working in a supportive environment.
Our success is rooted in a strong culture that encourages presence, boldness, and curiosity, enabling individuals to achieve their goals.
The role involves supporting good industry practices in identifying, assessing, and managing non-financial risks and controls across MRSGM, including operational risks from internal failures and external events, as well as other non-financial risks such as group risks. This is in support of the Head of ERM and alongside the Head of Financial Risk.
Responsibilities:
* Lead the implementation of the Non-Financial Risk framework, aligning it with the MRSGM ERM framework, strategic goals, and regulatory requirements, including tools and systems like GRC.
* Ensure monitoring and reporting of non-financial risk exposures and controls to management and governance bodies to support decision-making, risk management, and compliance with regulations such as Munich Re, PRA, FCA, and Lloyd’s.
* Provide risk management support, challenge, and insights on strategic initiatives, new products, risk appetite, emerging risks, and scenario analysis.
* Promote collaboration across the business and develop expertise in specific areas.
* Report on the overall non-financial risk profile, including material exposures, control effectiveness, and incidents, supporting ORSA reporting.
* Participate in governance bodies and escalate significant risks or issues, presenting a holistic view of risks and controls to the Risk Committee and Board.
* Act as a deputy for the Head of ERM in interactions with regulators and external parties regarding risk management.
* Collaborate with Legal, Risk, Compliance, and Internal Audit functions to oversee the complete non-financial risk profile.
* Maintain relationships with stakeholders, including Munich Re Group, GSI colleagues, and external advisors.
* Support training and risk awareness initiatives to foster a strong risk culture.
* Drive industry best practices in risk identification and assessment.
* Work with colleagues on new business and change initiatives, and support enhancements to the Legal, Risk, and Compliance Target Operating Model.
* Manage and supervise staff, setting objectives and development plans.
Knowledge and Skills:
* Relevant risk management qualifications or experience
* Strong insurance knowledge, preferably UK market and Lloyd’s of London experience
* Understanding of the current risk management environment
* Stakeholder management skills, flexibility, and adaptability
* Change management mindset
* Excellent report writing and presentation skills for Board-level review
* Attention to detail, accuracy, and a diligent work approach
* Ability to work independently with strong organizational skills
* University degree and/or professional qualification
We encourage candidates whose experience doesn't perfectly match the requirements to apply, as we value diverse backgrounds.
Diversity, Equity & Inclusion
We promote innovation and resilience through diversity and inclusion, building a workforce that reflects various identities and backgrounds, and ensuring an equitable environment where everyone can succeed.
Candidates can request reasonable adjustments at any stage of the recruitment process.
Our ESG approach focuses on seizing business opportunities and fostering an inclusive, sustainable environment through community initiatives and volunteering.
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