Risk Manager

Munich Re; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading specialty insurance provider in London is looking for a Risk Manager to develop and implement a comprehensive risk management framework. You will ensure compliance with industry regulations while actively promoting a positive risk culture in the organization. Ideal candidates will possess proven risk management experience and excellent report writing skills. This role offers an opportunity to work within a supportive environment focused on innovation and sustainable practices.

Qualifications

• Proven risk management experience in a relevant field.
• In-depth understanding of general insurance industry.
• Experience preparing reports for senior management.

Responsibilities

• Support the Head of Risk Management in strategy implementation.
• Provide timely risk management review and advice.
• Manage risk event management processes.

Skills

Proven risk management experience

Internal or external audit experience

Excellent report writing skills

Ability to question and challenge the business

Broad knowledge of Solvency II

Collaboration with business stakeholders

Education

University Degree or relevant professional qualification

Job description

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.

Risk Manager

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:

• To 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.
• Providing the business with effective and timely risk management review, challenge and advice.
• To support the MRSG Risk team in the delivery of the annual risk plan and communicating when departures from plan are anticipated on a timely basis.
• To address and respond to risk issues as they arise, escalating issues or key matters arising to the Head of Non-Financial Risk Management or the Head of ERM, other stakeholders and governance bodies as appropriate.
• To support the Head of Risk Management in the on-going monitoring and assessments of risks and controls for the MRSG legal entities.
• To manage the risk event management processes, and ensure timely updates of risk events in the MRSG Risk Event Log and associated governance/IRM reporting.
• To manage include carry out thematic risk assessments, risk reviews/opinions or investigations of topics that may arise from time to time.
• To support the Head of Risk Management and Head of ERM in the development and production of both regular and ad-hoc risk reporting to various stakeholders of MRSG/GSI4.
• To manage, lead and/or coordinate, or contribute towards MRSG/GSI4 projects or activities which may be required.
• To lead, contribute and/or deliver risk training and awareness initiatives on behalf of the Risk team as may be required.
• To support or undertake any other risk management departmental activities as and when required by the Head of Risk Management and Head of ERM.

General responsibilities:

• To raise the profile of risk management and work with the business to support embedding of a strong and positive risk culture.
• To support the review, on a continuous basis, of the risk management framework to ensure that 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

• Must have proven risk management experience, internal or external audit experience with suitable qualification.
• Must have in-depth understanding of general insurance industry, and preferably of the Lloyd's or general insurance market.
• Must have excellent report writing skills, experience of preparing reports and presentations for Senior management/Committee or Board review.
• Must have ability to tactfully and appropriately question and challenge the business at all levels.
• Broad knowledge of Solvency II and Lloyd's market is an advantage.
• Should be focused on completing activities to meet internal/external reporting deadlines, pragmatic solutions orientated and be conscientious with developing collaborative relationships with business stakeholders.
• Should have 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

Diversity, Equity & Inclusion

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.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.

Learning and innovating today, striving for sustainable societies and business tomorrow