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:
Outsourcing of services is an essential element of Great Lakes’ business model. Great Lakes largely outsources services to Munich Re units and delegates these services to agents to achieve maximum synergy and efficient operations. The DA Business Management function is responsible for promoting and strengthening Great Lakes’ reputation as a skilled partner; to develop PIRI business and enhance its service quality and operational excellence; to manage the development, facilitation, and business relationships of Great Lakes agency insurance business with both the serviced agents and Munich Re business owners. The Delegated Authority Business function is a key component of our Delegated Authority model the purpose of which is to act as the first line of defense for the business. The DA Business Manager is responsible for assessing and managing risk through overseeing, steering and monitoring our delegated authority business. This is primarily achieved through forging strong relationships with Great Lakes’ outsourcing partners and internal stakeholders at all levels of the organisation to ensure that our outsourcing partners (such as Managing General Agents and Cover holders) are operating in conjunction with Great Lakes’ internal guidelines, regulatory requirements and the binding authority contract.
The role will report into the Head of DA Business Management UK.
Key Responsibilities :
- Provide support to the Delegated Authority (DA) Business Management team in the onboarding of new agents, ensuring processes align with internal guidelines.
- Manage and monitor performance data and Key Risk Indicators (KRIs) of agents, promptly reporting any issues or delays to the Head of DA Business Management UK.
- Assist in implementing audit recommendations, tracking responses, and escalating potential delays to the DA Business Manager to ensure timely resolution of findings.
- Contribute to due diligence and onboarding processes to evaluate the suitability of potential new business and business partners, maintaining accurate records and flagging any concerns.
- Collaborate with other business units or external resources to deliver on specialist ad-hoc projects as required.
- Prepare presentations and reports for various Board and Committee meetings to support effective decision-making.
Competencies:
Nimble learning (we think big) – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.
Collaborates (we lead the ‘we’) – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.
Optimises work processes (we grow with our clients) – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.
Resourcefulness (we care and dare) – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.
Communicates effectively (we are clear and authentic) – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way.
Key Skills & Experience:
- Strong report writing skills
- Fluent using Microsoft Packages
- Background in governance or oversight role
- Familiarity with regulatory frameworks (e.g. FCA, Solvency II, governing delegated authorities)
- Good organisational skills with a high attention to detail.
- Solution/output-orientated
- Demonstrate strong communication skills (written and verbal)
- Ability to manage multiple tasks and meet strict deadlines
Qualifications and Educational Requirements:
- Degree level educated or equivalent qualifiers
Thought Leaders:
You will demonstrate 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.
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
You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions
We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.
