At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Risk Manager

As a Risk Manager you will support the development, implementation and embedding of a comprehensive and proportionate risk management framework and risk culture across the business , ensuring compliance with Munich Re, PRA, FCA and Lloyd’s risk management requirements.

Risk management framework activities include but is not limited to: Risk register assessments, control assessments, operational loss event management, emerging risk analysis, risk reporting and project work as described below. 

Provide the business (1st line of defence) with effective and timely risk management (2nd line of defence) review, challenge and advice, to represent a risk management viewpoint in in risk identification, measurement, mitigation and reporting of risks. Support the Head of Risk Management in the delivery of the annual risk activity and deliverables plan and communicating when departures from plan are anticipated on a timely basis. As well as on-going monitoring and assessments of risks captured in the risk register for areas in scope, to enable the identification of top risks, potential new risks or emerging risks.  Designing and maintaining appropriate key risk indicators (KRIs) and RAG trigger limits to monitor trends in risk exposures. Collaborating with business stakeholders to ensure effective key controls are appropriately designed and are operating effectively to mitigate identified risks in the risk register. Manage the incident management processes for those areas named in scope, and ensure timely inclusion in the overall MRSG Incident Register and associated governance/IRM reporting. Lead, contribute and / or deliver risk training and awareness initiatives on behalf of the Risk team as may be required. Raise the profile of risk management and work with the business to support understanding.  Support the review, on a continuous basis, of the risk management framework to ensure that it meets the business’s emerging needs and to provide constructive and timely input into its development and embedding. Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.

Knowledge and Skills

Proven experience of risk management, internal or external audit experience with suitable qualification. In-depth understanding of general insurance industry, and preferably of the Lloyd’s or general insurance market.  Excellent report writing skills, experience of preparing reports and presentations for Senior management / Committee or Board review.  Ability to tactfully and appropriately question and challenge the business at all levels (including Senior Management and Directors) and present considered and balanced risk opinions, findings and recommendations. Broad knowledge of Solvency II and Lloyd’s market is an advantage in order to be able to question, review and challenge Syndicate or IDC management of risks, internal control effectiveness, business processes and procedures. Focussed on completing activities to meet internal/external reporting deadlines, pragmatic solutions orientated and be conscientious with developing collaborative relationships with business stakeholders. Broad understanding of the current risk management environment and awareness of key developments in risk management best practice (including providing Thought Leadership in specific topics or areas as requested by the Head of Risk Management or Director of Risk and Compliance).

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!