Head of Non-Financial Risk – Munich Re Specialty - Global Markets, UK

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Head of Non-Financial Risk

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Munich Re Specialty - Global Markets, UK .Location: London, United Kingdom

About UsAt Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

Role overviewTo drive good industry practices in terms of identification, assessment and management of non-financial risks and controls across MRSGM, in support of the Head of ERM, alongside the Head of Financial Risk. This includes operational risks arising from inadequate or failed internal processes, personnel or system, or from external events; as well as other non-financial risks such as group risks.

Responsibilities

Lead the implementation and embedding of the Non-Financial Risk framework setting out MRSGM’s approach to identification, assessment and management of non-financial risks and controls in alignment with the MRSGM enterprise risk management (ERM) framework, strategic objectives, Group and regulatory requirements. This includes implementation of associated tools and systems e.g. a GRC system.

For all MRSGM businesses, ensure non-financial risk exposures and associated controls are appropriately monitored and reported to the required governance bodies to support key decisions, identify and manage key and emerging risks, and ensure compliance with Munich Re, PRA, FCA and Lloyd’s requirements.

Provide effective risk management support, challenge and opinions to the business on strategic developments, change initiatives and new products; support the development and embedding of risk appetite and other metrics; support emerging risk assessments and scenario analysis activities.

Promote close and harmonious working relationships across the business and develop deep subject matter expertise in relevant areas.

Report on the aggregate non-financial risk profile across GSI4, including material risk exposures / position against risk appetite, effectiveness of the control environment and material incidents; support ORSA report production process.

Participate as a member and/or attendee of governance, management bodies and committees as appropriate; escalate high-priority issues to the Head of ERM and present a holistic view of Non-Financial Risks to the Risk Committee and the Board.

Act as a point of contact to regulators and other stakeholders as appropriate; maintain relationships with internal and external parties.

Work with Legal, Risk and Compliance and Internal Audit to ensure comprehensive governance and oversight of the non-financial risk profile.

Support training and risk awareness across GSI4 to enhance risk oversight and embed a strong risk culture.

Lead and manage staff as applicable, setting objectives and development plans.

Knowledge and Skills

Appropriate risk management qualification or suitable experience in relevant roles

Strong insurance knowledge; UK market preferred; Lloyd’s of London Market experience desirable; additional jurisdictions an advantage

Comprehensive understanding of the current risk management environment

Strong stakeholder management skills with the ability to challenge and support; flexible as required

Change mindset; ability to lead and bring teams along in a change environment

Excellent report writing skills; experience preparing reports and presentations for Board level review

Attention to detail, accuracy and diligent work approach

Ability to work on own initiative with strong management and organisational skills; business-oriented

University degree and/or relevant professional qualification

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

DEI and ESGDiversity, Equity and Inclusion: Munich Re fosters innovation and resilience, embracing DEI as core to who we are. We are committed to building an equitable and inclusive work environment and providing reasonable adjustments in the recruitment process upon request.

Further information: Learn more about sustainability at Munich Re and our ESG initiatives.

Seniority and Employment

Seniority level: Executive

Employment type: Full-time

Job function: Finance and Sales

Industries: Insurance

Note: Some sections of the original listing include extraneous material (e.g., related job postings and site navigation). This refinement preserves the core role, responsibilities and qualifications while removing non-essential boilerplate.

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