Underwriting Oversight Manager (m/f/d)*
Great Lakes Insurance SE
Munich , Germany
As a specialty provider of primary insurance services Great Lakes Insurance SE (GLISE) with its branches in the UK, Australia, Switzerland, Italy and Ireland and its newly founded subsidiary in the UK, is an integral part of Munich Re Group and an important enabler for Specialty Insurance Business (GSI – Global Specialty Insurance) closely connected to Munich Re’s reinsurance core business.
The role will be to act as an interface between Great Lakes‘ Underwriting and Product team as well as the business unit(s) of the Munich Re Group in an oversight function where the business units provide underwriting services for delegated authority business underwritten by Great Lakes. The Delegated Authority Underwriting Oversight Manager will be part of the Underwriting and Product team and will be responsible for overseeing/monitoring all underwriting activities and controls that are performed by all stakeholders (internal and externals) in a transparent, effective and efficient manner. The role will be located in Munich.
- Conduct the oversight of all UW outsourced activities and controls over the value chain (underwriting/ pricing/wording/policy admin/budget monitoring/regulatory reporting)
- Act as the interface between the Underwriting and Products team and the business units in relation to MGA business including product development, data requirements, wording and regulatory feedback and broader strategic direction
- Conduct the measurement of the efficiency and effectiveness of the underwriting oversight framework
- Perform the assessment of adequacy of underwriting processes and controls in order to keep underwriting operational risks within risk appetite level and, at the same time, meet regulatory requirements
- Organize quarterly meetings with the respective business units to discuss current performance and set up periodical performance review of the business unit(s) (including the follow-up and closing of actions)
- Collaborate with Great Lakes stakeholders and outsourced parties to review/redesign underwriting oversight activities
- Experience in Underwriting, and/or Audit, Operational Risk Management or similar areas; a degree in one of those areas is beneficial
- Working knowledge of Power BI and/or similar dashboards and exposure analytics tools
- Ideally, knowledge of the Munich Re Group organization
- Passion to strive for Great Lakes underwriting oversight goals together with a diverse set of stakeholders
- Strong communication skills and ability to interact in Group project teams and cross-divisional project teams in a dynamic environment
- High level of motivation, commitment, responsibility and willingness to learn
- Strong written and verbal communication in German and English
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- Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
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- Competitive salary: appropriate compensation for your high level of commitment.
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- Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
- Health management: focus on your physical and mental health far beyond legal requirements.
- Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.
* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.
Laura Fuchs • HR Consultant
Königinstraße 107 • 80802 München • GERMANY