Product Governance Manager

Munich Re; Greater London; On-site; GBP 40,000 - 80,000; Full time

Job summary

An established industry player is seeking an Insurance Product Governance Manager to join their dynamic team in London or Manchester. In this pivotal role, you will support product owners and oversee product governance processes, ensuring compliance with regulatory standards while enhancing customer outcomes. This forward-thinking company values diversity and inclusion, fostering a culture of innovation and collaboration. If you are passionate about driving positive change and have a strong background in regulatory frameworks, this is the perfect opportunity to make a significant impact in the insurance sector.

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 understanding of FCA Product Governance and Consumer Duty requirements.
• Experience in Lloyd's market is preferable.

Responsibilities

• Oversee product governance framework and ensure regular reviews.
• Facilitate stakeholder engagement and enhance customer outcomes.

Skills

Regulatory Awareness

Commercial Awareness

Communication Skills

Stakeholder Management

Organizational Skills

Education

Degree in Business or Finance

Job description

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.

We are currently looking for an Insurance Product Governance Manager to be based in London or Manchester on a full-time basis, reporting into the Head of Underwriting Oversight.

Responsibilities:

1. Support and oversee product owners (underwriters) to ensure that all MRS-GM 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.
2. Demonstrate excellent stakeholder management - facilitate open discussions on customer outcomes and ensure stakeholders engage effectively in product review processes.
3. Support stakeholders to foster a customer centric mindset, focusing on demonstrating and improving the customer outcomes delivered by our products and services.
4. Utilise the PRC and Product Catalogue, as well as insights gained through discussions with underwriters, to ensure underwriters follow product review processes (inc. FVAs) for relevant products. Be the first point of contact for any queries and the first approval checkpoint for completed product forms.
5. Oversee the escalation of product reviews through the appropriate approval channels, including referring product reviews, findings and recommendations to the relevant Product Oversight Committee(s).
6. Collaborate with the 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.
7. Regularly review and develop product governance processes to meet evolving business needs and regulatory requirements.

Knowledge and Skills:

1. Strong regulatory and commercial awareness, particularly strong understanding and experience of FCA Product Governance and Consumer Duty requirements.
2. Lloyd’s market knowledge and experience is preferable.
3. Effective communication skills at all levels.
4. Proactive, personable approach with the ability to build relationships to drive good practices and implement change.
5. 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.

Benefits:

• 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