Vice President, Insurance Solutions (Financial Institutions Team) (London)

Do you want your voice heard and your actions to count? Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 160,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career. Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

OVERVIEW OF THE DEPARTMENT/SECTION

The NBFI team sits within Global Corporate and Investment Banking (GCIB), and is in charge of the coverage of Insurance and Reinsurance companies in EMEA. The team is building on recent success to expand the product suite to include funded insurance solutions. The team currently has 4 members and is well integrated with the US Insurance team in NY, and is also active in a number of landmark insurance solutions.

NUMBER OF DIRECT REPORTS

None initially, but there is scope to develop managerial responsibilities in the future. The role will rely on the support of junior resources within the team.

MAIN PURPOSE OF THE ROLE

We are looking for an experienced candidate with previous exposure to insurance solutions, either in a bank, an insurance company or a broker, to help with the development of Capital and Liquidity Solutions to insurance companies in EMEA. Cooperation with MUFG’s US platform is a key part of the role, and the successful candidate should expect to work closely with the team based in NY.

KEY RESPONSIBILITIES

• Be part of the Insurance coverage team, active in treasury and investment products and grow revenues, while gradually establishing MUFG as a leading Insurance House on both sides of the Atlantic.
• Build the tools to roll out the strategy in close cooperation with MUFG NY and play a leading role in building internal models for cash-flow analysis of closed books.
• As First Line of Defense, discuss the Credit and Risk implications of various products to be incorporated in the strategy, and agree on a risk framework.
• The successful candidate will identify the potential for more advanced solutions for insurance clients and take a leading role in origination, structuring, and execution.
• The role will involve travel to visit insurance companies in EMEA with the relevant RMs to expand the client base.
• Work with the Head of NBFI to train, supervise and develop insurance RMs in EMEA and other regions.

WORK EXPERIENCE

Essential:

• Previous experience in structuring insurance solutions.
• Knowledge of main solutions available for Life and non-Life including sidecar, funded reinsurance, VIF monetization, and risk transfers.

Preferred:

• Work experience in the capital management or solutions team of an insurance, reinsurance or an insurance brokerage firm.

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential:

• Knowledge of Solvency 2 and BMA regulations.
• Understanding of consolidator business.
• Understanding of reinsurance.
• Understanding of regulations relating to reserve for P&C and Life.
• Exposure to the Lloyd’s market.
• Exposure to sidecar financing.
• Finance and Derivatives knowledge.

Preferred:

• Actuarial background useful but not necessary.
• Good understanding of the credit process in a bank.

Education / Qualifications:

Ideally degree level educated, or equivalent qualifications.

PERSONAL REQUIREMENTS

• Strong team player and ability to integrate into a small but international team dedicated to the growth of the Insurance franchise at MUFG globally.
• Results driven, with a strong sense of accountability.
• Deep understanding of risk and able to take a long-term view of the business.
• Strong decision-making skills, with the ability to demonstrate sound judgment.
• Excellent attention to detail and accuracy.
• A calm approach, with the ability to perform well in a pressurized environment.
• Strong numerical skills.

We are open to considering flexible working requests in line with organizational requirements. MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected, and their opinions count. We support the principles of equality, diversity, and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief, and marriage or civil partnership. We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.