Product Governance Analyst

Munich Re; London; On-site; GBP 40,000 - 65,000; Full time

Job summary

Munich Re is seeking a Product Governance Analyst in London. This role involves supporting product owners to ensure governance compliance and facilitating discussions on improving customer outcomes. The ideal candidate will have strong regulatory awareness, effective communication skills, and a proactive approach to fostering stakeholder engagement.

Benefits

Critical illness insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Study & continuing Professional Development Support

Qualifications

• Strong regulatory and commercial awareness, especially regarding FCA Product Governance requirements.
• Knowledge of Lloyd’s market preferred.
• Proactive approach and strong relationship building skills.

Responsibilities

• Support product owners to ensure all products are regularly reviewed.
• Facilitate discussions on customer outcomes.
• Collaborate with the Conduct team to enhance governance training.

Skills

Regulatory awareness

Commercial awareness

Effective communication

Organisational skills

Planning skills

Interpersonal skills

Job description

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto 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 currently looking for a Product Governance Analyst to be based in London on a full-time basis, reporting into the Group Head of Underwriting Oversight.

Responsibilities:

• Support and oversee product owners (underwriters) to ensure that all MRSG products falling within the scope of the product governance framework are regularly reviewed, approved and have undergone at least annual Fair Value Assessments (FVA) as appropriate.
• Help with facilitating open discussions on customer outcomes and ensure stakeholders engage effectively in product review processes.
• Support stakeholders to foster a customer centric mindset, focusing on demonstrating and improving the customer outcomes delivered by our products and services.
• Utilise product and conduct MI to monitor customer outcomes and, in collaboration with Conduct Risk, identify opportunities for product improvement.
• Collaborate with Conduct team to design and deliver a multi-faceted training programme to enhance stakeholder engagement with product governance and conduct risk and build a positive perception of these areas across the business.
• Regularly review and develop product governance processes to meet evolving business needs/ regulatory requirements.
• Continuously develop internal processes to improve governance and monitoring of products (including maintenance of the Product Catalogue).

Knowledge and Skills

• Strong regulatory and commercial awareness. In particular, an understanding and experience of FCA Product Governance and Consumer Duty requirements.
• Lloyd’s market knowledge and experience is preferable.
• Effective communication skills at all levels.
• Proactive, personable approach with the ability to build strong working relationships to drive good practices and implement change.
• Strong organisational and planning skills.

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!

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.

• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support