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Risk Consultant (Non Financial Risk)

Location Madrid, Spain Job type Full-Time Work mode Hybrid Job level Professional Job ID 14446 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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About the role

The Risk Consultant (LH1.2) sits within the LH1 Madrid Risk Management team and supports MR’s RM framework across the region. The position will support the unit in the implementation, coordination, and administration of key activities across Enterprise Risk Management, Risk Communication & Culture, and Compliance & Operational.

The position requires a structured, detail-oriented professional who is eager to grow/develop within the risk discipline while ensuring high-quality delivery of core risk processes and governance requirements.

Your Job

Enterprise Risk Management (ERM)

  • Maintenance and update of the risk management framework, including documentation and reporting.
  • Qualitative and quantitative risk reviews, including markets monitoring analysis, treaty’s risk assessment status updates, and monitoring activities.
  • Participate in the update of the regional operational framework, such as UW strategy, authorization manual, risk assessment cycle, and mandates databases.
  • Preparation and issuance of mandates or authorization letters.
  • ERM-related projects (e.g., RM SharePoint enhancements).
  • Monitoring and reporting risk appetite, metrics, and governance outputs.

Risk Communication & Culture

  • Support risk culture initiatives, including organization of trainings, awareness campaigns, and community sessions.
  • Managing approvals and dispensation processes, including Block Approval and dispensations.
  • Maintain access rights, training records, and updates in tools.
  • Contribute to committees, networks, and internal communication workflows that enhance risk awareness across the organization.

Compliance & Operational Risk Management

  • Preparation and consolidation of the Risk Report.
  • Participate in Operation Risks assessments and coordinate information gathering with internal stakeholders.
  • Assist in compliance-related activities, including GDPR processes, Service Level Agreements, and coordination with Legal/Compliance teams.
  • Provide support in audits and reviews, including follow-up actions stablished for the Business Units, Underwriting, Claims, and other departments.
  • Assist in preparing and coordinating data protection reviews across regions.

Additional Responsibilities

  • Contribute to wording-related tasks. Assisting the maintenance of standard treaty wordings, translations, and updates under guidance from senior team members.
  • Support cross-functional collaboration with Corporate Underwriting, Compliance, and other teams

Your profile

Required

  • Strong analytical and organizational skills.
  • Ability to manage multiple tasks in a structured and efficient manner.
  • High attention to detail and commitment to quality.
  • Strong communication skills in English, written and verbal.
  • Proficiency in Microsoft Office tools; familiarity with SharePoint is a plus.

Preferred

  • Prior experience in Risk Management, or related functions.
  • Background in insurance, reinsurance, actuarial, or financial services.
  • Familiarity with ERM frameworks, governance structures, or internal control systems.

Unlock your potential

  • 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.
  • Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
  • Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

  • Competitive salary: appropriate compensation for your high level of commitment.
  • Retirement provision: state of the art in-house pension solutions.
  • 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: we offer you a very flexible approach.

* 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.

Diversity, Equity & Inclusion

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.

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.

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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.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

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