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- 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, bonus, 25 days leave, private medical insurance, and family leave.
- Why this job: Make a real impact in product governance while collaborating with diverse teams.
- Qualifications: University degree or insurance qualifications; strong communication and analytical skills.
- Other info: Dynamic environment with a focus on diversity, equity, and inclusion.
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 & Experience:
- Strong communication skills and ability to interact in Group project teams and cross-divisional teams in a dynamic environment.
- Passion to advance Great Lakes underwriting oversight goals with a diverse set of stakeholders.
- Strong analytical abilities and organizational 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.
Regulatory & Conduct Requirements:
- Ensure compliance with FCA PROD 4 requirements.
- Satisfy regulatory reporting requirements in collaboration with the reporting function.
- Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
We offer a strong compensation package, on-target bonus, 25 days of annual leave (with option to purchase more), private medical insurance, and a contributory pension. We also provide fully paid 6 months family leave in certain times of need.
Diversity, Equity & Inclusion: Munich Re fosters DEI to drive innovation and resilience. We aim to build a diverse workforce across identities and backgrounds and provide equitable opportunities to succeed. If your experience does not align perfectly with every requirement, we encourage you to apply anyway. Reasonable adjustments are available during the recruitment process via your Talent Acquisition contact.
Seniority level: Mid-Senior level
Employment type: Full-time
Job function: Product Management, General Business, and Strategy/Planning
Industries: Insurance, Financial Services, and Insurance Agencies and Brokerages
Delegated Authority Product Governance Specialist in London employer: Great Lakes Insurance SE
Contact Detail:
Great Lakes Insurance SE Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Product Governance Specialist in London
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those at Great Lakes Insurance SE. A friendly chat can open doors and give you insights that might just land you an interview.
✨Tip Number 2
Prepare for the interview by understanding the regulatory frameworks and product governance processes. Show us you know your stuff and can hit the ground running in the role of a Delegated Authority Product Governance Specialist.
✨Tip Number 3
Practice your communication skills! You’ll need to collaborate with various teams, so being able to articulate your thoughts clearly is key. Try mock interviews with friends or use online resources to sharpen your skills.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining the Great Lakes team.
We think you need these skills to ace Delegated Authority Product Governance Specialist in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV speaks directly to the role of Delegated Authority Product Governance Specialist. Highlight relevant experience and skills that match the job description, especially in product governance and regulatory compliance.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background aligns with Great Lakes Insurance's goals. Don’t forget to mention any specific projects or achievements that showcase your expertise.
Showcase Your Communication Skills: Since strong communication is key for this role, make sure your application reflects your ability to convey complex information clearly. Use concise language and structure your documents well to demonstrate your organisational skills.
Apply Through Our Website: We encourage you to apply directly through our website for the best chance of success. It’s the easiest way for us to track your application and ensure it gets the attention it deserves!
How to prepare for a job interview at Great Lakes Insurance SE
✨Know Your Regulatory Stuff
Make sure you brush up on the relevant regulatory regimes affecting Great Lakes Insurance. Understanding FCA PROD 4 requirements and how they apply to product governance will show that you're serious about compliance and can hit the ground running.
✨Show Off Your Collaboration Skills
This role involves working closely with various teams, so be ready to discuss your experience in cross-divisional collaboration. Think of specific examples where you've successfully worked with others to develop or monitor products, and how you navigated any challenges.
✨Prepare for Product Governance Questions
Expect questions around product governance metrics and how you would approach monitoring product performance. Be prepared to share your thoughts on what good customer outcomes look like and how you would ensure they are met.
✨Bring Your Analytical A-Game
Since strong analytical abilities are key for this role, come prepared with examples of how you've used data to drive decisions or improvements in previous roles. Highlight any experience you have with producing reports or presenting findings to senior management.
