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Senior Risk Manager

Location London, United Kingdom Job type Full-Time Work mode Hybrid Job level Professional Job ID 13043 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia. 

Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

About the role:

As Senior Risk Manager (Risk Reporting) you will be responsible for leading and coordinating key Risk Management deliverables like the quarterly Risk Report and the ORSA. You will be responsible for keeping GLLS’ Risk Strategy fit for purpose and contribute to risk assessments to support risk-based decision-making

Key Responsibilities:

  • Leading and coordinating GLLS’s annual and ad-hoc ORSA processes, including leading the Stress & Scenario and Sensitivity Testing, and producing the ORSA report
  • Leading and coordinating Great Lakes’ annual and ad-hoc Risk Strategy
  • Producing the quarterly Risk Report, including monitoring risk triggers in line with the Risk Strategy, and providing risk-based business steering advice to the Board
  • Contributing to the regulatory reporting (Annual Report, Solvency and Financial Condition Report) for the sections related to risk management
  • Ensuring ongoing appropriate risk governance by maintaining documentation and approval procedures and implementing new risk management processes
  • Providing risk assessments and risk opinions on business and strategic decisions
  • Supporting the development of risk management framework for emerging or new risks
  • Coordinating or participating in strategic projects
  • Presenting Risk Management results to the relevant GLLS governance Committees
  • Maintaining liaison with the Great Lakes and Group IRM teams

Competencies:

Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

Key Skills & Experience:

Essential:

  • Solid experience in the (re)insurance industry
  • Good knowledge of risk management frameworks, Solvency II and other regulatory frameworks
  • Excellent analytical and organisational skills 
  • Ability to communicate complex matters in a logical and transparency way
  • Full command of MS Office suite
  • Fluency in spoken and written English

Desirable:

  • Experience in regulatory reporting and submissions
  • Good presentation skills
  • Experience with Power BI and R
  • Intermediate German knowledge

Desired Qualifications and Educational Background:

  • University degree, ideally in a relevant insurance-related field, e.g. actuarial studies, or equivalent degree
  • Collaborative mindset and previous experience working with a matrix international team
  • Ability to work in a fast-paced and ever-changing environment

Thought Leaders:

You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the Senior Risk Manager (Risk Reporting) role/function will also become responsible for:

  • Satisfying all regulatory requirements in collaboration with the reporting function
  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid  6months family leave for times when you need it the most. 

About us:

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

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

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!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Application Closing Date - 29th May 2026

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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