Risk Manager (m/f/d) *
Munich , Germany
As a provider of Primary Insurance Specialty and Retail market business, Great Lakes Insurance SE (Great Lakes) is a wholly owned subsidiary and an integral part of the Munich Re Group. Our Primary Insurance out of Reinsurance (PIRI) interlocked business model focuses on seizing opportunities closely connected to the Group’s reinsurance core business, innovation opportunities, as well as initiatives with ERGO and other Group entities. Great Lakes currently operates from its headquarters in Munich and via branch offices in the United Kingdom, Switzerland, Italy, Ireland and Australia.
To complement our Integrated Risk Management team, we are looking for a skilled and motivated individual in Munich, with the whole risk management team located in Munich and London. You will be responsible for the regulatory and internal risk reporting and in contact with quantitative capital modelling and qualitative risk management. This role will also offer the opportunity to provide risk-based business steering advice and communication to Great Lakes’ senior management, and to liaise closely with Munich Re Group’s central IRM department. You will be part of a dynamic and diverse team.
- Coordinating Great Lakes’ annual and ad-hoc ORSA processes and producing the ORSA report
- Conducting Great Lakes’ risk strategy process, which includes risk identification, setting of risk appetites and key risk indicators (with limits and triggers), as well as monitoring existing risk triggers and undertaking related control processes
- Producing the quarterly Risk Report, including challenging the first line of defence and providing risk-based business steering advice to the Board of Management
- Contributing to the regulatory reporting (Annual Report, Regular Supervisory Reporting, Solvency and Financial Condition Report) for the sections related to risk management
- Providing risk assessments and risk opinions on underwriting referrals and key business or strategic decisions
- Ensuring ongoing appropriate risk governance by maintaining documentation and approval procedures
- Contributing to the capital modelling and validation as well as to the operational risk management
- Fulfilling regulatory requirements and studies from EIOPA as well as from the relevant local regulators
- Contributing to risk management tasks related to Environmental, Social and Governance topics
- University degree in mathematics or actuarial science or a related field
- Good knowledge of risk management frameworks, Solvency II and other regulatory frameworks
- Excellent analytical and organisational skills
- Good presentation skills, communicating complex matters logically and with transparency
- Experience with regulatory reporting and submissions is an advantage
- Experience in Power BI and R is a plus
- Working collaboratively and effectively in an international group dynamic, often virtually
- Fluent English and at least intermediate German skills
Great Lakes Insurance SE ("Great Lakes"), a fully owned subsidiary of Munich Re, is a German primary insurance company based in Munich with major branches in London and Sydney. In collaboration with our partners and business units of Munich Re, we provide innovative and flexible insurance solutions for agency and coinsurance business and offer covers for complex single risks.
As the world's leading reinsurance group, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Make it happen and be part of Great Lakesand the Munich Re Group.
- You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
- You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders
- We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn
- You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working leveraging digitalization to deliver solutions
- Join us, and experience that we lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged