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Risk Manager (Enterprise & P&C Reinsurance)

Location Sydney, Australia Job type Full-Time Work mode Hybrid Job level Professional Job ID 13300 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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The Risk Management team is responsible for the risk frameworks across the Australia and New Zealand reinsurance entities. The Risk Management team works closely with the Boards and Risk and Compliance committees on a range of risk related matters. The objective of the Risk Management team is sound risk management that helps in realisation of the operating plans for the business.

As Risk Manager (Enterprise & P&C Reinsurance), you will support effective risk management across Munich Re’s Australian reinsurance entities, covering P&C Reinsurance and key shared service functions including Investments, IT & Cyber, HR, Tax, Facilities and Procurement.

You will bring practical experience from a first line role (e.g. claims, underwriting, operations or finance) to strengthen second line risk oversight, leveraging your understanding of core insurance processes.

The role offers broad exposure to enterprise and operational risk, risk systems and data, and senior stakeholder engagement. Working closely with senior risk leadership, you will contribute to risk insights and governance while benefiting from strong development opportunities within the Risk function.

Your Role

Risk Frameworks, Risk Assessment & Control Oversight

  • Lead the identification and assessment of risks in the P&C Reinsurance business unit and shared service functions.
  • Conduct and facilitate risk and control self-assessments (RCSAs), including assessing control design and effectiveness.
  • Maintain and enhance risk registers, control libraries and related documentation.
  • Manage risk events including triage, root cause analysis and monitoring remediation actions.
  • Support the development and rollout of local risk policies, standards and procedures aligned with Group frameworks and regulatory expectations.

Risk Systems, Data Governance & Analytics

  • Lead the development and enhancement of the in-house Governance, Risk & Compliance (GRC) system.
  • Support system configuration, testing and user enhancements in line with Munich Re practices.
  • Develop and maintain processes and controls supporting strong data governance, including data quality checks, reconciliations and validation routines.
  • Maintain oversight of risk-related data flows to ensure information is accurate, complete and timely.
  • Contribute to analytics initiatives, including dashboards, automated reporting and data-driven risk insights.

Risk Reporting & Insights

  • Prepare high-quality, timely and accurate risk reporting for management and governance forums.
  • Analyse risk and control data to identify trends, emerging risks and key risk indicators (KRIs).
  • Draft clear, concise and well-structured commentary to support executive-level discussions and decision making.

Stakeholder Support & Engagement

  • Build and maintain effective working relationships with P&C Reinsurance teams and shared service functions.
  • Provide guidance and support on risk identification, control design and risk management practices for new initiatives, process changes and system projects.
  • Support the delivery of risk training and awareness activities, including sessions for staff and governance forums.

Team Contribution

  • Actively contribute to CRO team initiatives and continuous improvement activities.
  • Support the organisation in strengthening and embedding Munich Re’s target risk culture.

Your Profile

  • 3–6 years’ experience in claims, underwriting, reinsurance operations, finance, actuarial or internal audit within insurance or reinsurance.
  • First line business experience strongly preferred, particularly within claims, underwriting, portfolio management or finance.
  • Experience in a second line risk or internal audit role is beneficial but not essential.
  • Working knowledge of P&C (Non-Life) reinsurance and related operational or financial processes is highly desirable.
  • Strong interest and capability in risk systems, data analytics, data governance and process controls.
  • Practical experience working with data, including extracting, reconciling, validating and analysing operational or financial information.
  • Experience contributing to dashboards, automated reports or analytics tools (e.g. Excel, BI tools, SQL or similar) is desirable.
  • Strong analytical, documentation and organisational skills.
  • Ability to communicate clearly with both technical and non-technical stakeholders.
  • Comfortable managing competing priorities and working with a broad range of stakeholders.
  • Tertiary qualifications in risk, finance, business, actuarial, data or a related field preferred.

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.

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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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