Risk Manager in London

About us 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.

To support the development, implementation and embedding of a comprehensive and proportionate risk management framework and risk culture across MRSG/GSI4, ensuring compliance with Munich Re, PRA, FCA and Lloyd’s risk management requirements. The Risk Manager role will support all MRSG legal entities or GSI 4 businesses such as MRSL (the Lloyd’s regulated entity).

Responsibilities:

• Support the Head of Risk Management in the overall delivery of the MRSG risk management strategy and implementation of the risk management framework across the business.
• Be responsible for the implementation and embedding of the risk management framework across MRSG, and other non-Lloyd’s regulated entities on a risk based proportionate and consistent basis.
• Provide the business with effective and timely risk management review, challenge and advice.
• Support the MRSG Risk team in the delivery of the annual risk plan and communicate when departures from plan are anticipated.
• Address and respond to risk issues as they arise, escalating issues or key matters to the appropriate stakeholders.
• Support the Head of Risk Management in the ongoing monitoring and assessments of risks and controls for the MRSG legal entities.
• Maintain the respective entity risk register and facilitate regular risk and control assessments.
• Collaborate with business stakeholders to assess and ensure effective key controls are appropriately designed and operating effectively.
• Complete risk reporting to the respective governance groups.
• Manage the risk event management processes and ensure timely updates of risk events.
• Support the Head of Risk Management and Head of ERM in the development and production of both regular and ad-hoc risk reporting.
• Manage, lead and/or coordinate projects or activities as required.
• Lead, contribute and/or deliver risk training and awareness initiatives.
• Support or undertake any other risk management departmental activities as required.

General responsibilities:

• Raise the profile of risk management and work with the business to support embedding of a strong and positive risk culture.
• Support the review of the risk management framework to ensure that it meets the business’s emerging needs.
• Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.
• Partake in various working groups as may be required.

Knowledge and Skills:

• Proven risk management experience, internal or external audit experience with suitable qualification.
• In-depth understanding of general insurance industry, preferably of the Lloyd’s or general insurance market.
• Excellent report writing skills, experience of preparing reports and presentations for Senior management/Committee or Board review.
• Ability to tactfully and appropriately question and challenge the business at all levels.
• Broad knowledge of Solvency II and Lloyd’s market is an advantage.
• Focused on completing activities to meet internal/external reporting deadlines.
• Broad understanding of the current risk management environment and awareness of key developments in risk management best practice.
• University Degree and/or relevant professional qualification.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion:

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to 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 identities and backgrounds. We are committed to building an equitable and inclusive work environment where this diversity is celebrated and valued.

Learning and innovating today, striving for sustainable societies and business tomorrow:

Our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment.