Chief Financial Officer, Great Lakes in London

Our Purpose Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance As a specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial segment within 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 insurance platform of Munich Re Group's Global and Specialty Insurance (GSI) Unit. 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 and specialty insurance business in the UK.

About the role As Chief Financial Officer (CFO), your role will collectively with other Board members, advising, governing, overseeing policy, directing, and providing leadership and general promotion of the Company so as to support its mission in accordance with its value proposition as the Munich Re preferred service provider. As the financial steward of the organisation, you will lead a large and diverse finance team which is charged with governing the implementation of our business plan in accordance with shareholder's expectations and executing leadership responsibility for all finance and reserving functions. As part of the accountable Executive team, you will maintain and develop values and reputation of the Company, in particular manage the relationship with all regulatory bodies and be a trusted advisor to the local Board of Directors.

Key Responsibilities

• Manage the direct reporting lines from the UK finance and finance actuarial teams, plan and steer capacities and oversee the service and project deliveries of the outsourced finance activities.
• Accounting of all technical and non-technical items and interfaces to external parties such as agents, pools, banks, insurers and reinsurers in addition to overseeing the service company interaction of MRUKS with other Munich Re units based in London.
• Planning, forecast and controlling of financial activities and operational performance, technical, non-technical and cash management.
• Budgeting and cost planning and controlling for UK units serviced by MR UK Services.
• Oversight and steering of all local capital management activities, including asset liability management, dividend policy and stakeholder management thereof both locally and with the headquarter.
• Management of all cash flows and bank accounts, in line with all regulatory requirements and restrictions (e.g. trust funds and tied assets).
• Financial reporting in the UK and according to several accounting regimes (mainly UK-GAAP, IFRS and HGB), including the consolidation into MR and ERGO Group.
• Managing relationships with external auditors and reporting bodies, such as PRA, FCA etc., and with central divisions of the Group.
• Accounting and reporting of the Munich Re UK Services Plan and the related pensions schemes of MR UK Service Ltd.
• Tax reporting and compliance across multiple tax regimes with special focus on transfer pricing and international taxation items.
• Management of the relationship with external tax authorities (e.g. HMRC) and external tax advisors, including personal liability as SAO for tax compliance.

General Duties and Tasks

• Development and implementation of the market strategy.
• Expand the Company's position as preferred enabler for agency business.
• Further increase the high proportion of tailor-made transactions and innovative solutions.

Client centricity and business development

• Drive stringent delivery of the Company's value proposition and excellent positioning.
• Build a high-class network and conduct negotiations with important internal and external clients.

Risk control

• Oversight and control of major risk categories (e.g. conduct risk) in collaboration with the Compliance and Risk function.
• Regular risk reporting to the Board and its Committees.

Leadership & management

• Active people management and coaching to ensure the highest standards.
• Provide line and functional management.
• Optimize knowledge / qualifications and resource deployment in the teams.
• Set ambitious targets in line with GLISE's and Munich Re Group's expectations.

Firm building

• Collaborate with interdependent functional owners (e.g. CEO, COO) and peers (e.g. GSI, ERGO) to maximize MR Group's opportunities.
• Support business development through effective process and system solutions, multiply knowledge and advise international Munich Re Group units.

Key Skills & Experience

Essential

• Meet fit and proper requirements of EIOPA for approved persons and UK Senior Management Regime.
• Extensive experience in financial, tax and regulatory reporting under IFRS and UK-GAAP.
• Excellent understanding and deep experience in General Insurance and/or P&C reinsurance.
• Sound knowledge of cash management and asset management principles.
• Experience in Solvency II and in related supervisory activities.
• Profound knowledge of MR reporting, planning, controlling and steering processes.
• Multiple years of experience in relevant management positions in a financial department.
• Well-experienced in the communication to and interaction with regulatory bodies (i.e. PRA/FCA).
• Comfortable and credible in terms of meeting with the Board, senior management within the Group and with senior clients and brokers.

Desirable

• London market experience as well as experience with agencies and delegated underwriting authorities (MGA's).
• Chartered Financial Accountant (ACCA), CIMA, FIAA, CFA or similar professional qualification.
• Audit or Tax consultancy background.
• Experience in managing larger teams of more than 20 FTE in multiple legal settings.
• Able to manage large multi-million budgets and high risk projects with strong operational impact.
• Proven track record in managing projects as well as in implementing change management processes and projects under stress situations.
• Sound IT system and process knowledge, i.e. FSRI, GT and bespoke feeder systems (DFEnS) and databases.
• Experience in assessing and evaluating financial statements and business plans.
• M&A and corporate finance experience is a plus.
• International experience working abroad with multinational teams.

Personal attributes

• High gravitas as a Senior Manager and Board member of MR UK Services and Great Lakes Insurance UK Ltd.
• Several years in leading diverse teams, with a demonstrated ability to bring people together from across different disciplines, reporting lines, business units and geographic locations.
• Outstanding stakeholder management capabilities, with an eye for detail yet an ability to judge commercial imperatives and encourage balance in decision-making.
• Excellent presentation and communications skills with adaptive communication styles for varied audiences and stakeholder groups.
• An overarching curiosity and ability to encourage that spirit within teams to ensure that finance has strong, respective - and when necessary, a critical voice, in all matters across the organization.
• Can do attitude with the ability to see things through.

People Leaders

• You are aware of your role (as a leader) in being able to influence your team structure and culture to promote principles of diversity and inclusion.
• You strive to continuously educate yourself on best practice for inclusive leadership.
• You demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
• You support a culture in which high ethical conduct is recognised, valued and embodied by all.
• You treat everyone fairly and with respect.
• You are responsible for recruiting new talent within your team, in addition to other people management responsibilities such as task management, providing regular feedback, having continuous conversations, development planning/career discussions etc.
• You are also responsible for driving the performance of your team to meet the business' strategic goals and objectives.
• You will consider the impact on the wider business when planning and making decisions.
• You will be considered part of the Senior Management Team.
• The development of your team is of significant importance to you, you embrace and promote development and act as a Talent Broker, continuously looking for opportunities for them to expand their skills, knowledge and experience.

Qualifications and Educational Requirements

• University degree in Finance, Economics or Law.
• Detailed knowledge of technical insurance and reinsurance accounting.

Regulatory & Conduct Requirements

The CFO role is also responsible in respect to both GLLS and GLG for:

• Representing Compliance SMF internally and externally as first point of contact, e.g. with HQ and Group Finance, business units, the PRA, FCA and other relevant regulatory bodies.
• Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime.
• Satisfying all regulatory reporting requirements in collaboration with the reporting function.
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship.
• Ensuring compliance with Munich Re's Code of Conduct and the FCA Conduct Rules.

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.

Please note application closing date: 17th July 2026.