Senior Risk Analyst

About us

 

At 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.  

  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

 

Please see our website for more information.

Company
Munich Re Specialty - Global Markets
Location
London , United Kingdom

Senior Risk Analyst

 

To support and assist the on-going development, implementation and embedding of a comprehensive and proportionate Risk Management Framework and risk culture across MRS – GM , ensuring compliance with local, Munich Re, PRA, FCA and Lloyd’s risk management requirements.

 

Responsibilities:

 

As part of the central Risk team, support and assist in the implementation of the MRSG Risk Management Framework as more specifically detailed in its annual 6 Block Objectives and annual Risk Plan.  Responsibilities includes the following:

 

• Assisting the Risk team with the on-going monitoring of MRSG Risk Profile by being involved with leading, undertaking, analysing and recording results of periodic risk and control assessments across MR Specialty - Global Markets.  Exceptions and / or delays should be escalated to the Risk Manager, Head of NFR and / or Head of ERM.  Responsibilities may include arranging, preparing and / or leading the assessment meetings, and writing up the results of the assessment including minutes and updating the risk register.
• Coordinating and maintaining  an effective risk event management process through the collation, investigation and reporting of near miss and loss events for MRS - GM.  This may include conducting investigations with the incident owners, determining lessons learned and remediation actions, drafting factual incident reports for inclusion in reporting to governance groups and Munich Re Group.  This activity is coordinated with Compliance as appropriate.
• Leading the monitoring and on-going awareness of the new and / or emerging risk process and ensure such information is shared with the Risk and Compliance teams and key business stakeholders. This will involve establishing, coordinating and leading the Emerging Risk Working Group activities, documenting the “so what” analysis and reporting to the respective governance groups. 
• Maintaining an on-going awareness of regulatory and industry developments for Risk and ensure that the Risk team are informed and action is taken as necessary.  Information sources include MR Group, Lloyd’s, the PRA, the FCA and the London Market Association.
• Carrying out or supporting the review and maintenance of the Risk Management Framework specifically with regards to documented policies, processes and procedures.  Ensuring such documents are current, relevant and aligned with MR or local regulatory requirements. 
• Support in the delivery of the MR Non-Financial Risk Management Framework which includes activities for the Operational Control System (ORCS), Risk Management Reviews of projects, ISM and / or TPRM, and Risk Event reporting. 
• Completing timely production of reports to MRSG committees through collaboration with the Risk team to the existing reporting templates. Where relevant, the Senior Risk Analyst will research and drafting report sections.
• Assisting and supporting with formulation of tests as part of the stress, sensitivity and scenario framework.  This could include co-ordinating and recording discussions of workshops or linking outputs from the emerging risk analysis and risk & control assessments to inform the stress, sensitivity and scenarios. 
• Assisting and supporting the Financial Risk team with Financial Risk activities as appropriate such as validation activities and / or quantifiable risk analysis.
• Contribute to the Risk team by undertaking any ad-hoc risk management projects and activities as and when, under supervision of the Head of Non-Financial Risk, Head of Financial Risk and / or the Risk Manager. Examples of activities include gap analysis of regulatory requirements; assisting thematic risk assessments, reviews or investigations of topics that may arise from time to time; drafting risk management deliverables and carrying out administrative tasks to support the Lloyd’s Fundamental Principles process.

 

General responsibilities

 

• To raise the profile of risk management and work with the business to embed a strong and positive risk culture.  This includes proactively engaging with and maintaining visibility in the business to demonstrate and challenge risk understanding. There is a requirement to attend the office to engage with the relevant stakeholders face to face and attend meetings in person.
• To support the review, on a continuous basis, of the risk management framework to ensure that it meets the business’s emerging needs and to provide constructive and timely input into its development and embedding. This include proposing and implementing new approaches or ways of doing risk management.

 

Knowledge and Skills

 

• Appropriate risk management qualification or qualified by suitable experience in similar roles in Lloyd’s, London market insurance and/ or General Insurance.
• Aptitude to develop technical insurance and risk management knowledge.
• Be prepared to partake in conversations and meetings – able to tactfully question and challenge syndicate and service company staff, and then present considered views and findings.
• Must have strong report writing skills, experience of preparing reports and presentations for Senior management / Committee or Board review.
• Should be focussed on completing activities to meet internal/external reporting deadlines
• Be pragmatic solutions orientated and be conscientious with developing collaborative relationships with business stakeholders.
• Should have broad understanding of the current risk management environment and awareness of key developments in risk management best practice (including providing Thought Leadership in specific topics or areas as requested by the Risk Manager or Head of Risk Management).
• Should be proactive and willing to assist in other risk activities that may arise from time to time.
• University Degree and/or relevant professional qualification
• An understanding and / or experience of risk management and / or general insurance/Lloyd’s is an advantage.

 

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!