At a Glance
- Tasks: Oversee global reinsurance claims, ensuring accuracy and governance.
- Company: Join Great Lakes Insurance, part of the Munich Re Group, focused on innovation.
- Benefits: Competitive salary, 25 days leave, private medical insurance, and generous family leave.
- Other info: Collaborative environment promoting diversity, innovation, and continuous improvement.
- Why this job: Step into a pivotal role with exposure to complex risk structures and data-driven insights.
- Qualifications: Experience in reinsurance or claims, strong analytical skills, and attention to detail.
The predicted salary is between 60000 - 80000 £ per year.
Together, we engage with everything we have and are, to help humankind act braver and better.
About Great Lakes Insurance SE: As a specialty provider of primary insurance services in the UK, Great Lakes London Branch ("GLLB") is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in the UK, Ireland, Switzerland, Italy and Australia. Great Lakes Insurance UK Limited ("GLLS"), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post‑Brexit world.
About the role: We are looking for a high‑potential Claims Manager (Treaty) to support oversight of a global reinsurance claims portfolio, with a focus on treaty reinsurance business in London branches and working for Munich Re Treaty UW Teams. This role sits within the claims oversight and governance framework, providing exposure to portfolio performance, financial oversight, and cedant management, while developing toward full Senior Claims Manager capability. You will play a key role in ensuring accurate financial outcomes, strong governance and effective portfolio oversight, working closely with underwriting, actuarial, finance and risk functions. This is an excellent opportunity for someone with strong analytical capability and foundational treaty exposure, looking to step into a more accountable, oversight‑driven role.
Key Responsibilities
- Treaty Claims Oversight & Technical Delivery
- Review and validate treaty claims bordereaux, advices and large loss notifications
- Ensure correct application of treaty structures (XoL, quota share, aggregates), limits, attachments and retentions
- Support oversight of coverage application and financial accuracy across cedant submissions
- Assist in the management of large losses and catastrophe events, including escalation and internal reporting
- Provide input on technical queries and support Senior Claims Managers on complex or high‑value claims
- Portfolio Oversight & Performance
- Support ownership of a treaty portfolio, monitoring performance across cedants and lines of business
- Analyse loss development, recoveries and trends, identifying emerging risks and areas of concern
- Contribute to portfolio performance reviews, including preparation of MI and insight packs
- Engage with cedants and brokers to support effective performance management and relationship building
- Financial & Analytical Oversight
- Track and interpret claims movements, reserving trends and exposure development
- Support portfolio analytics and reporting, including development of dashboards (Excel / Power BI)
- Contribute to financial oversight processes, ensuring completeness and accuracy of treaty reporting
- Generate insight to support underwriting strategy and portfolio steering
- Governance, Oversight & Controls
- Support delivery of audits, due diligence reviews and technical file assessments
- Track audit findings and contribute to remediation and continuous improvement activity
- Ensure adherence to internal governance frameworks, regulatory requirements and oversight standards
- Contribute to onboarding and ongoing oversight of cedants, including documentation and controls setup
- Data, Analytics & Innovation
- Leverage data and claims MI to support insight generation and decision‑making
- Assist in enhancing reporting frameworks and portfolio visibility
- Contribute to process improvement and automation initiatives, including use of AI and digital tools
- Support development of modern treaty oversight capabilities, aligned to data‑driven claims management
- Stakeholder Engagement
- Collaborate with Underwriting, Actuarial, Finance, Risk and Compliance teams
- Participate in portfolio discussions, governance forums and internal reviews
- Support engagement with cedants, brokers and external partners
- Build confidence in communicating technical and financial information clearly
Key Skills & Experience – Essential
- Experience or exposure to reinsurance or claims (treaty, DA, or financial lines)
- Strong analytical and numerical capability, with ability to interpret claims data
- Good understanding of claims processes, financial flows or insurance structures
- High attention to detail, particularly in financial validation and data accuracy
- Strong communication skills, with ability to engage internal stakeholders
Key Skills & Experience – Desirable
- Exposure to treaty reinsurance structures and claims reporting
- Experience using Excel and/or data tools (Power BI preferred)
- Awareness of claims governance, audits or regulatory requirements
- Interest in data, automation and digital transformation in claims
What we are looking for
- A data‑driven thinker with strong curiosity around how claims portfolios behave
- Someone comfortable moving from technical detail to portfolio‑level insight (or vice versa)
- A proactive individual looking to step up into a Senior Claims Manager career pathway
- Strong commercial awareness and interest in how reinsurance supports risk transfer
- A collaborative mindset with a focus on continuous improvement and better outcomes
Why join us
- Clear pathway into a Senior Claims Manager (Treaty or DA) role
- Exposure to global reinsurance portfolios and complex risk structures
- Strong focus on data, analytics and future‑fit claims capabilities
- Opportunity to work across Underwriting, Actuarial and Finance functions
- A collaborative environment focused on innovation and development
Desired Qualifications and Educational Background
- University degree or equivalent work experience required
Regulatory & Conduct Requirements
- Support compliance with FCA requirements and internal governance frameworks
- Contribute to strong conduct risk management and fair customer outcomes
- Ensure appropriate oversight discipline and audit readiness across portfolios
Benefits
You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%. We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.
About us: You will work in an environment where we think big: Change and culture are continuously role‑modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning. You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders. We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn. You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions. We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged. At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi‑dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Senior ML Engineer in London employer: Great Lakes Insurance SE
At Great Lakes Insurance SE, we pride ourselves on fostering a collaborative and innovative work culture that empowers our employees to grow and excel. With a clear pathway to advance into senior roles, comprehensive benefits including generous family leave, and a strong focus on data-driven decision-making, we offer a rewarding environment for those looking to make a meaningful impact in the reinsurance sector. Our London branch is not just a workplace; it's a community where diverse perspectives are valued, and every team member is encouraged to contribute to our shared purpose of helping humankind act braver and better.
StudySmarter Expert Advice🤫
We think this is how you could land Senior ML Engineer in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Great Lakes Insurance SE. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Senior ML Engineer in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Great Lakes Insurance SE.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Great Lakes Insurance SE's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Great Lakes Insurance SE
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Great Lakes Insurance SE.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Great Lakes Insurance SE will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Great Lakes Insurance SE employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
