Head of Enterprise Risk Management

1 week ago


London, United Kingdom Munich Re Specialty Group Full time

Head of Enterprise Risk Management

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.

**Company**
Munich Re Specialty Group
**Location**
London, United Kingdom

Head of Enterprise Risk Management

To ensure that the Munich Re Speciality Group (MRSG) businesses meet all applicable regulatory and Munich Re Group risk management requirements and to ensure that an effective risk management system is in place, including the specific Solvency II requirements where applicable and due regard to both Financial and Non-Financial risks.

To carry out the function of a board member for Munich Re Syndicate Ltd (MRSL) and a member of the executive management and other nominated committees of other entities (including but not limited to Munich Re Specialty Insurance UK (MRSIUK)). Collectively with other Board members, advise, govern, oversee policy and direction, and assist with the support and oversight of MRSG business activities. For additional Global Specialty Insurance (MRSG) businesses, ensure an appropriate risk management framework is in place and appropriately monitored and reported on.

To lead the progression and implementation of the Risk Strategy and the Enterprise Risk Management Framework proportionately and consistently across the businesses, including but not limited to risk culture, risk appetite, escalation and risk governance frameworks across both Financial and Non-Financial risks.

The Role
- Satisfy MRSL regulatory Senior Manager requirements:

- Responsibility for the overall management of the risk controls of the firm, including the setting and managing of its risk exposures, and reporting directly to the MRSL Board and other governing bodies on its risk management arrangements.
- Comply with the PRA/FCA principles for firms and individuals.
- Member of MRSL Board, management team and sub committees, as appropriate.
- Member of the executive management and other nominated committees of other entities (including but not limited to MRSIUK).
- Collectively with other Board members, advise, govern, oversee policy and direction, and assist with the support and oversight of MRSG business activities.
- For all MRSG businesses, ensure an appropriate risk management framework is in place and appropriately monitored and reported on for the required governing bodies
- Act as a contact to the FCA, PRA, Lloyd's, GSI, Munich Re Group and other parties regarding Risk Management issues, reporting to regulators as required
- Appropriate interaction with other governance areas including Compliance, CoSec and Internal Audit to ensure comprehensive governance and oversight of the complete risk profile of the business. Maintain relationship with key internal and external stakeholders including (and not limited to) non-executive directors, senior management and Group colleagues, external advisors
- Lead the development of training courses across MRSG tailored to the Board, ExCo and relevant Committees needs to enhance their oversight of the various risk types
- Drive good industry practices in terms of identification and assessment of risks and controls consistently across the business
- Support implementation and embedding of the Legal, Risk and Compliance Target Operating Model. Work closely with LR&C colleagues and other key stakeholders on new business and change initiatives
- Must continue to be “fit and proper” to execute the duties of a director and comply with the requirements of Lloyd’s Byelaws and Codes of Practice.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders

**As a Senior Manager**:

- You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively
- You must take reasonable steps to ensure that the business of the firm



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