Senior Delegated Authority Business Manager

Munich Re; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player seeks a Senior Delegated Authority Business Manager to lead and optimize delegated authority operations. This role is pivotal in managing risks, ensuring compliance with regulatory frameworks, and fostering strong relationships with outsourcing partners. You will oversee onboarding processes, conduct audits, and drive innovation within the business management function. Join a forward-thinking company that values diversity and offers a supportive environment, where your contributions will enhance operational excellence and service quality. If you are passionate about making a difference in the insurance sector, this opportunity is for you.

Benefits

Private Medical Insurance

10% Employer Contributory Pension

25 Days Annual Leave

Fully Paid 6 Months Family Leave

On-Target Bonus

Qualifications

• Proven experience managing delegated authorities with regulatory knowledge.
• Strong analytical and communication skills with a detail-oriented approach.

Responsibilities

• Oversee and manage delegated authority business, ensuring compliance.
• Lead onboarding processes and drive strategic objectives for agencies.

Skills

Delegated Authorities Management

Regulatory Knowledge

Risk Oversight

Audit Processes

Analytical Skills

Communication Skills

Stakeholder Management

Project Management

Market Awareness

Education

Degree-level education

Project Management Certification (e.g., PRINCE 2)

Job description

Senior Delegated Authority Business Manager

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

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 SE operates from its headquarters in Munich, and via branch offices in the UK, Ireland, Switzerland, Italy, and Australia. Great Lakes Insurance UK Limited (“GLLS”), regulated by the 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:

Outsourcing of services is an essential element of Great Lakes’ business model. Great Lakes largely outsources services to Munich Re units and delegates these services to agents to achieve maximum synergy and efficient operations. The DA Business Management function is responsible for promoting and strengthening Great Lakes’ reputation as a skilled partner; to develop PIRI business and enhance its service quality and operational excellence; to manage the development, facilitation, and business relationships of Great Lakes agency insurance business with both the serviced agents and Munich Re business owners. The Delegated Authority Business function is a key component of our Delegated Authority model, the purpose of which is to act as the first line of defense for the business. The DA Business Manager is responsible for assessing and managing risk through overseeing, steering, and monitoring our delegated authority business. This is primarily achieved through forging strong relationships with Great Lakes’ outsourcing partners and internal stakeholders at all levels of the organisation to ensure that our outsourcing partners (such as Managing General Agents and Cover holders) are operating in conjunction with Great Lakes’ internal guidelines, regulatory requirements, and the binding authority contract.

The role will report into the Head of DA Business Management UK.

Key Responsibilities:

Deputy Responsibilities:

• Provide professional leadership to Agency Business Managers for assigned agencies and/or jurisdictions.
• Conduct peer reviews of key control documents/reports to support decision-making by approval committees and the Board of Management.

Onboarding:

• Partner with Munich Re business units to implement tailored market/client-specific strategies for assigned agencies and/or jurisdictions.
• Drive the decision-making process for onboarding new agents, coordinating approval boards and committees in collaboration with the Head of Agency Business UK.
• Contribute to achieving GLLS strategic objectives, utilizing expertise to drive business development.
• Manage due diligence and quality assurance processes, adhering to high standards and regulatory requirements.

Oversight:

• Strengthen oversight and control of DA relationships, monitoring performance and key risk indicators (KRIs).
• Report concerns to relevant boards and committees while fostering proactive collaboration.
• Partner with DA Audit Managers, define audit scope, and drive closure of audit findings.

Knowledge Sharing:

• Maintain a high level of knowledge about agents’ activities, including run-off, and share expertise across teams.
• Drive service-focused communication with stakeholders across the Munich Re Group.

Projects:

• Lead and manage key projects, driving innovation and process improvements across the DA Business Management function.

Key Skills & Experience:

• Proven experience managing delegated authorities with in-depth knowledge of regulatory requirements, risk oversight, audit, and underwriting processes.
• Familiarity with regulatory frameworks (e.g., FCA, Solvency II) and binding authority agreements.
• Strong analytical, conceptual, and organizational skills with a detail-oriented, solutions-driven approach.
• Effective communication and stakeholder management skills, including working with senior executives.
• Experience with primary insurance, reinsurance, distribution models, and outsourcing governance.
• Project management expertise, including tools and strategies for overseeing the delegated authority lifecycle.
• A commercial mindset with strong market awareness.

Qualifications and Preferred Experience:

• Degree-level education or equivalent qualifications.
• Project management certification (e.g., PRINCE 2).

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.

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, 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 recognize 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.