At a Glance
- Tasks: Approve and monitor insurance products to ensure compliance and positive customer outcomes.
- Company: Join Great Lakes Insurance SE, part of the Munich Re Group, with a global presence.
- Benefits: Competitive salary, professional development, and a collaborative work environment.
- Other info: Opportunity for career growth and collaboration across diverse teams.
- Why this job: Make a real impact on product governance in a dynamic insurance landscape.
- Qualifications: University degree or insurance qualifications; regulatory knowledge is a plus.
The predicted salary is between 36000 - 60000 £ per year.
Join to apply for the Delegated Authority Product Governance Specialist role at Great Lakes Insurance SE.
About Great Lakes Insurance SE: Great Lakes Insurance SE operates from its headquarters in Munich and via branch offices in the UK, Ireland, Switzerland, Italy and Australia. It is part of the Munich Re Group. Great Lakes Insurance UK Limited (GLLS) is a fully owned subsidiary of Great Lakes Insurance SE and acts as the facilitator of agency insurance business in the UK.
About the role: The DA Product Governance Specialist is part of a small team responsible for approving, monitoring and reviewing insurance products to ensure regulatory obligations are met and customer outcomes are good. The role collaborates with the Underwriting and Products teams to develop, approve and monitor Great Lakes products, liaising with stakeholders across the organisation to support development and approval of new products and to monitor ongoing product compliance with regulatory frameworks and internal processes and documentation.
Key Responsibilities:
- Support the annual review schedule for all Great Lakes manufactured/co-manufactured products, considering UK regulatory demands.
- Organise written reports and feedback from reviews, document outcomes, and monitor progress to ensure recommendations are implemented within timeframes.
- Collaborate with partners to develop new products, bringing necessary skills from Underwriting and Products teams to support approval and growth of products under the Great Lakes brand.
- Ensure new products and changes comply with the POG framework for approval by the Global Underwriting and Product Committee.
- Monitor product development and performance against required metrics; respond to product-related queries; work with the Product Governance Manager on reviews and report findings to Boards, Committees and Senior Management; track actions to completion.
- Assist in producing and challenging product governance metrics and MI, presenting to relevant Boards, Committees and Senior Management.
- Maintain and update conduct and compliance policies; support testing, monitoring and challenge of processes; ensure stakeholders understand product governance requirements and provide training as needed.
- Manage the agent financial promotions referral process for UK Agents.
- Collaborate with colleagues across Underwriting and Product teams and beyond to support regulatory oversight; stay informed of regulatory changes and provide feedback to the product team and stakeholders.
Key Skills:
- Knowledge of Munich Re Group is a plus.
- Understanding of relevant regulatory regimes affecting Great Lakes business.
- Previous review experience and/or underwriting or audit experience; familiarity with wordings and contracts is useful.
Qualifications and Educational Requirements:
- University degree or insurance qualifications.
- Business English essential; knowledge of a European second language is beneficial.
Delegated Authority Product Governance Specialist employer: Great Lakes Insurance SE
Great Lakes London Branch offers a dynamic work environment where employees are valued and encouraged to grow. With a strong focus on collaboration and high service levels, this role provides an excellent opportunity for professional development within the insurance sector. Employees benefit from a supportive culture that prioritises work-life balance and fosters meaningful contributions to a portfolio generating significant revenue.
StudySmarter Expert Advice🤫
We think this is how you could land Delegated Authority Product Governance Specialist
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like Great Lakes Insurance SE looking for candidates who are engaged and informed.
We think you need these skills to ace Delegated Authority Product Governance Specialist
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at Great Lakes Insurance SE. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at Great Lakes Insurance SE
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with Great Lakes Insurance SE’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
