Legal Counsel

Company
Great Lakes Insurance SE
Location
London, United Kingdom

About Great Lakes Insurance SE:

As a specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of 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 part of the Munich Re Group.

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 insurance business in the UK in the post-Brexit world.

About the role:

The Legal Department at Great Lakes provides legal advisory and consultancy to the management and all business units to manage legal risks and meet Great Lakes’ strategic objectives.

The main responsibility of the role is to enhance excellence and the service quality within GLISE Legal department in the UK through regulatory and legal expertise in insurance law and ability to provide practical and comprehensive legal and technical consultation services for Great Lakes.

Key Responsibilities:

1. Provide legal consultation and advice to Great Lakes’ stakeholders on matters relating to GLLB and GLLS including contract law and regulatory matters;
2. Provide legal advice and insurance law consultancy to Great Lakes’ stakeholders for all related business opportunities, excluding claims handling and decisions related matters;
3. Develop, review and negotiate a variety of DUA agreements and other insurance distribution services with third parties and Munich Re Business Units;
4. Draft and negotiate wordings on insurance products and related documentation;
5. Undertake legal research, develop legal and contractual documentation and draft briefing notes and legal opinions.
6. Coordinate external counsel opinions, if necessary.
7. Coordinate the process of development of the main contractual templates;
8. Development of the junior team members.

Additional Responsibilities:

1. Develop strong business relationships with internal stakeholders, maintaining business focus;
2. Support Great Lakes business model as it grows and innovates and develops new and/or improved insurance products;
3. Closely work and collaborate with Great Lakes legal, compliance and risk colleagues and contribute to overall internal governance framework;
4. Collaborate with teams and international colleagues of MR Group globally;
5. Be responsible for trainings and other knowledge exchange activities to business functions, so as to improve their understanding of wording, coverage as well as general legal issues;
6. Support the Head of Legal as required, including legal administration. Undertaking other duties such as project work as assigned;
7. Maintain and further develop familiarity with legal and regulatory environment.

Key Skills & Experience:

1. Minimum of 3 years’ experience in insurance with agency or distribution law experience as well as insurance wordings
2. Demonstrated experience in contract drafting and negotiating skills
3. Ability to communicate, both written and oral, on complex issues in an easily understandable manner to stakeholders
4. Ability to work in large complex projects
5. Strong organisational skills and ability to prioritise work in a disciplined manner.
6. Ability to think strategically and take initiative
7. Knowledge of SII requirements
8. Experience in dispute resolution or arbitration
9. Experience in insurance regulatory environment outside of the UK

Qualifications and Educational Requirements:

1. Strong knowledge in UK insurance law, financial services regulation and markets
2. Fluent business English language

Diversity, Equity & Inclusion:

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind 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 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.

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!

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.

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.