Senior Legal Counsel, Alternative Risk Transfer (ART)

This job is brought to you by Jobs/Redefined, the UK's leading over-50s age inclusive jobs board. We are looking for a Senior Legal Counsel - ART, based in London.

Your Team

Allianz Commercial's dedicated Alternative Risk Transfer (ART) team is growing its presence in London, to improve further our delivery of personalized solutions for our clients as they manage, control and reduce risk. These solutions include multi-year, multi-line insurance products, as well as fronting and captive reinsurances services.

The Impact You Will Have

Based in London and reporting directly to the Head of Deal Legal ART, you will be integrated into the global underwriting teams of the ART Line of Business to co-construct bespoke solutions for our clients. You will work closely with our Structured Insurance team in London and other ART offices in New York and Zurich and will participate in developing cross sell opportunities with other Allianz Commercial business units to provide innovative and complex solutions in a fast changing environment.

Some of your specific responsibilities could include:

• Support the ART business teams in the negotiation and execution of transactions and other deal-related activities and pro-actively manage all relevant legal and regulatory aspects of international transactions, including cross border aspects.
• Draft and/or review documentation relating to the company's insurance and reinsurance business (binders, slips, contracts, I&L Agreements, trust agreements, assignments, LOCs, and NDAs) against ART's internal standards and business requirements.
• Promote and maintain relationships with brokers and key business partners including participating in regular conference calls/meetings with key clients to obtain feedback on outstanding contract issues.
• Provide solution-oriented and practical legal advice & support as well as functional guidance for management and business teams and monitor legal, regulatory, compliance & internal developments affecting ART business.
• Actively participate and provide actionable guidance in legal practice group and underwriting meetings for the ART business teams, and perform required legal sign-offs in line with Allianz's internal standards.
• Support good governance within the existing UW Governance framework and coach UW community on legal, regulatory and general compliance topics.
• Manage internal and external customer expectations; anticipate issues and concerns of internal customers and address them proactively and directly.
• Ensure good knowledge transfer of relevant issues to other members of ART Deal Legal team and Allianz Commercial's global and local Legal departments, e.g., material developments in laws and best practices.

What You'll Bring to the Role

• Qualified to practice under English law.
• At least 10 years' experience in the London market, with a focus on structuring and documenting insurance and reinsurance transactions (involving multiple legal entities in multiple jurisdictions) under English law and other governing laws commonly used in international (re-) insurance.
• Excellent understanding of regulatory implications of cross-border insurance transactions and self-procured (non-admitted business), as well as familiarity with the principles of the UK and US regulatory landscape, and European regulations on Insurance Distribution (IDD) and financial instruments (EMIR; MIFID).
• Experience operating in regulated environments, including an understanding of internal control framework and compliance requirements under the Solvency II framework.
• Able to work in an international matrix organisation and cross-functional teams.
• Ability to actively participate in client negotiations; solid understanding of key risk drivers and key economics typical for a complex /reinsurance transaction.
• Solid business acumen and broad understanding of economic drivers and implications of structured insurance & reinsurance transactions.
• Strong personality, willingness to contribute beyond own technical area of expertise.
• The ability to ensure ethical AI practices and stay updated with emerging AI technologies will be key to maintaining a competitive advantage.

What's in it for you?

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our culture.

People with disabilities: We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com

Recruitment Agencies: Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.