Expense Management Specialist in London

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are looking for an Expense Management Specialist to join our London Office for an 18 month Fixed Term Contract with hybrid working. The role is initially offered on an interim basis however could result in a permanent opportunity. The Interim Expense Management Specialist will drive improvement across the Expense function by applying best-practice experience to strengthen processes, enhance control frameworks, improve data quality and hand-offs, and embed more consistent and efficient ways of working. The objective is to uplift the overall maturity of the operating model and step up the strategic management of expenses by improving understanding of cost drivers, strengthening cost control, and supporting the identification and delivery of efficiency opportunities across the expense base.

In parallel, where required, the role will support the timely and accurate delivery of BAU expense activities, including month-end reporting, reconciliations, controls and planning support, ensuring all outputs meet required standards of quality and governance.

Key Responsibilities

• Support the continued development of a more strategic approach to expense management by improving and understanding of key cost drivers, areas of controllability and opportunities for efficiency.
• Assist in reviewing current expense processes, reporting, controls and governance, drawing on insurance industry best practice.
• Identify areas where accuracy, efficiency or compliance can be strengthened and provide clear, practical recommendations to address these gaps.
• Partner with AP/AR and Finance Operations to strengthen hand-offs, improve data quality and enhance the overall integrity of expense information.
• Streamline processes to reduce rework, increase automation opportunities and improve operating efficiency.
• Enhance standard operating procedures, validation steps, timetables and process notes to ensure reliable and scalable outcomes.
• Assist in maintaining and refreshing process documentation to ensure completeness, transparency and alignment with governance expectations.
• Support the development of indicators to track process quality and control performance, ensuring that improvements are embedded and sustained.
• Where required, support core BAU expense activities, including month-end close, reconciliations, accruals, reclassifications, cost centre reviews and governance checks.
• Ensure BAU deliverables are timely, accurate and well controlled, maintaining operational stability while improvement activity is progressed.
• Respond to ad-hoc requests, queries and investigations to support operational delivery and stakeholder needs.
• Help drive forward good conduct for the business to deliver the best outcomes for customers / policyholders.

Knowledge and Skills

• Strong technical understanding of expense reporting and planning processes within a complex financial services or insurance environment.
• Demonstrable experience of working within best-practice expense teams, with exposure to mature governance frameworks, standardised methodologies, and controlled operational processes in financial services or the insurance sector.
• Experience in strengthening expense controls, documentation and operational governance, ensuring accuracy, consistency and audit readiness.
• Good working knowledge of cost centre structures, AP/AR interfaces, accrual methodologies and data dependencies that drive expense accuracy and integrity.
• Excellent analytical skills with a disciplined approach to accuracy, control and process integrity.
• Strong written communication skills, with the ability to produce clear and concise reporting and documentation for senior stakeholders.
• Able to challenge constructively and support operational teams in adopting more robust, standardised ways of working.
• Strong collaboration skills, able to build effective working relationships across Finance and Operations to support both BAU delivery and improvement activity.
• Self-starter with the confidence to identify improvements, influence change, and drive implementation through to sustainable adoption.
• Professional accountancy qualification such as ACA, ACCA, or CIMA.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.

Learning and innovating today, striving for sustainable societies and business tomorrow. At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!