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Senior Risk Manager

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Munich Re

9d ago

  • Job
    Full-time
    Senior & Expert Level
  • Madrid

AI generated summary

  • You should have actuarial risk management experience, life pricing, stakeholder management skills, knowledge of ERM, reinsurance, and products. A qualified actuary with a relevant postgraduate qualification is essential.
  • You will manage actuarial and enterprise risks, review transactions, support governance, promote risk strategies, and enhance frameworks while collaborating with regional units and stakeholders.

Requirements

  • Experience in Actuarial Risk Management
  • Life pricing experience, in particular areas of Life Protection, Health and Reinsurance Structuring
  • Confidence and diplomacy to challenge peers and manage upwards
  • Effectively dealing with senior stakeholders
  • Ability to build an understanding of internal and external client strategy and needs
  • At least basic knowledge and experience of Enterprise Risk Management methodologies and frameworks
  • Experience delivering projects
  • Significant experience in the LH insurance market, preferably in reinsurance, risk management, pricing or consulting
  • Understanding of key features of a reinsurance contract
  • Good knowledge of the protection market’s key products and features
  • Understanding and familiarity with a range of Reinsurance Structuring solutions
  • University graduate or equivalent; qualified actuary
  • A postgraduate qualification in insurance or risk management (e.g. CERA)

Responsibilities

  • Actuarial Risk Management
  • Review of large and complex transactions, especially with respect to financial, operational, legal and reputational risk, in line with the defined risk appetite.
  • Review changes to pricing bases, product designs and pricing tools
  • Working collaboratively with other Regional Risk Management units on projects and reviews
  • Enterprise Risk Management
  • Risk reporting to Regional CRO, Life & Health Madrid Hub management and central functions
  • Internal business governance activity within Life & Health Madrid Hub
  • Delivery of the operational risk management framework
  • Review and assessment of other risk types e.g. market, credit, reputation, concentration, liquidity etc.
  • Second line treaty wording review
  • General Risk Management
  • Support the Life & Health Madrid Hub to write and maintain profitable commercial business and innovation initiatives, in line with the business strategy and risk appetite, acting as a Business/Risk Partner
  • Promote Risk Management principles, develop the Life & Health Madrid Hub risk strategy, and communicate and raise awareness of Risk Management within the region
  • Maintain and improve the Life & Health Madrid Hub risk management framework, policies and processes
  • Develop the Life & Health Madrid Hub risk strategy and appetite including product limits, striking the balance between risk guidelines and commercial demands
  • Periodically represent Risk Management in special initiatives (e.g. product developments and business improvements)
  • Be a point of reference for the business for guidelines and control processes

FAQs

What is the main purpose of the Senior Risk Manager role at Munich Re?

The Senior Risk Manager is responsible for strengthening Madrid's Actuarial and Enterprise Risk Management capabilities, supporting internal reports, and ensuring sustainable rapid growth in line with the Group's underwriting guidelines.

Where is the Senior Risk Manager position located?

The position is based in Madrid, Spain.

What are the key responsibilities of the Senior Risk Manager?

Key responsibilities include Actuarial Risk Management, Enterprise Risk Management, and General Risk Management, which involve reviewing transactions, risk reporting, promoting risk management principles, and supporting profitable commercial business.

Is knowledge of Spanish required for this position?

While very good English proficiency is essential, knowledge of Spanish would be a plus.

What qualifications are required for this role?

A university graduate or equivalent, and a qualified actuary are essential qualifications for the Senior Risk Manager role.

What experience is considered essential for candidates applying to this position?

Essential experience includes actuarial risk management, life pricing, and enterprise risk management methodologies, as well as the ability to effectively deal with senior stakeholders.

Are there opportunities for career mobility within Munich Re?

Yes, Munich Re actively supports career mobility, offering a wealth of career growth opportunities due to its strong global and regional presence.

Does Munich Re promote diversity and inclusion in the workplace?

Yes, Munich Re embraces diversity as a key driver of innovation and resilience, believing that it enables the organization to act braver and better.

Are there flexible working options available?

Yes, Munich Re offers a hybrid working approach to promote work-life balance.

What benefits does Munich Re offer for employees?

Benefits include a competitive salary, retirement provision, work-life balance initiatives, and a flexible hybrid working model.

Pushing the boundaries of insurability to help the world advance with confidence.

Finance
Industry
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Employees

Mission & Purpose

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. We are globally active and operate in all lines of the insurance business. Since our founding in 1880, we’ve been known for our unrivaled risk-related expertise and sound financial position. We offer customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season. We possess outstanding innovative strength, which enables us to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics. We’re also playing a key role in driving forward the digital transformation of the insurance industry, and in doing so have further expanded our ability to assess risks and the range of services that we offer. Our tailor-made solutions and close proximity to our customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. Our corporate culture is defined by performance, mutual respect and trust. All this makes us an attractive employer providing global career development opportunities and prospects.