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- Tasks: Support risk management strategy and framework implementation across diverse business entities.
- Company: Join Munich Re, a leader in specialty insurance with a supportive culture.
- Benefits: Competitive salary, inclusive environment, and opportunities for professional growth.
- Why this job: Make a real impact in risk management while developing your skills in a dynamic setting.
- Qualifications: Proven risk management experience and strong communication skills required.
- Other info: Diversity and inclusion are at our core; we welcome all applicants.
The predicted salary is between 36000 - 60000 £ per year.
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.
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 as may be required.
- 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.
- Address and respond to risk issues as they arise, escalating issues or key matters to appropriate stakeholders.
- Support the Head of Risk Management in the ongoing monitoring and assessments of risks and controls.
- Maintain the respective entity risk register and facilitate regular risk and control assessments.
- Complete risk reporting to the respective governance groups.
- Manage the risk event management processes.
- Support the Head of Risk Management and Head of ERM in the development and production of risk reporting.
- Manage, lead and/or coordinate MRSG / GSI4 projects or activities.
- Lead, contribute and/or deliver risk training and awareness initiatives.
- Provide second line review and challenge of the business Lloyd’s Fundamental Principles Oversight Framework.
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 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.
- Ability to tactfully 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, we encourage you to apply anyway.
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.
Learning and innovating today, striving for sustainable societies and business tomorrow.
Risk Manager employer: Munich Re Specialty - Global Markets
Contact Detail:
Munich Re Specialty - Global Markets Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk Manager
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their risk management framework and be ready to discuss how your experience aligns with their goals. Show them you're not just a fit on paper!
✨Tip Number 3
Practice your responses to common interview questions, especially those related to risk management. Use the STAR method (Situation, Task, Action, Result) to structure your answers and highlight your achievements.
✨Tip Number 4
Don’t forget to follow up after your interview! A quick thank-you email can leave a lasting impression and show your enthusiasm for the role. Plus, it keeps you on their radar as they make their decision.
We think you need these skills to ace Risk Manager
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter for the Risk Manager role. Highlight your relevant experience in risk management and how it aligns with our goals at Munich Re Specialty. We want to see how you can contribute to our risk culture!
Showcase Your Skills: Don’t hold back on showcasing your report writing skills and any experience you have with risk assessments. We’re looking for someone who can communicate effectively with senior management, so make sure to include examples of your past work that demonstrate this.
Be Bold and Curious: In your application, reflect our values of being bold and curious. Share instances where you’ve taken initiative or explored new ideas in risk management. This will show us that you embody the culture we cherish at Munich Re.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our company there!
How to prepare for a job interview at Munich Re Specialty - Global Markets
✨Know Your Risk Management Framework
Before the interview, make sure you have a solid understanding of risk management frameworks, especially those relevant to the insurance industry. Familiarise yourself with key concepts like risk identification, assessment, and mitigation strategies. This will help you speak confidently about how you can contribute to the company's risk culture.
✨Prepare for Scenario-Based Questions
Expect to be asked about specific scenarios related to risk management. Prepare examples from your past experience where you've successfully identified and mitigated risks. Use the STAR method (Situation, Task, Action, Result) to structure your answers clearly and effectively.
✨Showcase Your Communication Skills
As a Risk Manager, you'll need to communicate complex risk concepts to various stakeholders. Be ready to demonstrate your report writing and presentation skills during the interview. Consider bringing a sample report or presentation that showcases your ability to convey information clearly and concisely.
✨Emphasise Your Collaborative Approach
Highlight your experience working with cross-functional teams to embed a strong risk culture. Discuss how you've built relationships with business stakeholders to ensure effective risk management practices. This will show that you understand the importance of collaboration in achieving the company's risk management goals.
