Company
Great Lakes Insurance SE
Location
London , United Kingdom
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:
Key Responsibilities:
- Owner of the inhouse ELTO reporting system, overseeing and completing quality assurance for uploads to the ELD and weekly tracing requests Be responsible for completing audit findings and regulatory submissions as well as continuously improving the process;
- The relationship manager for MDS and the MIB, including MIB managed services (MID, OIC, MIAFTR, CUE, MyLicence, ELTO) ensuring memberships are up to date, reporting requirements are met and developments impacting Great Lakes are tracked and communicated;
- Support operational licensing and ensure that any ad hoc memberships/licensing applications are fulfilled in accordance with GL group requirements;
- To contribute to the role of the Secretariat for both the Global Product and Underwriting Committee and the Global Operations and Business Committee, including appropriate governance duties (forming agendas; taking minutes; quarterly reporting to of the Board of Management of GLISE in respect of GOBC approvals and notifications; ensuring that such activities are aligned with policies, norms and GLOW);
- Tracking and quality assurance of activities which feed into the Secretariat’s duties: the pipeline, APRs, Committee subjectivities and contract dates);
- Production of and input into DA Business Management board and team reports and materials and reports with the assistance of the Assoc. DABM
- To undertake any other duties that COOs may, from time to time, deem necessary for the efficient running of their department in co-operation with the Senior DA Specialist;
- To support the Delegated Authority Business Managers (DABMs) with the onboarding and offboarding of MGA’s including assisting the ABMs with the due diligence process and exit management process for stressed and managed offboarding; milestone planning, data gathering and review, liaising with GL’s internal stakeholders, external stakeholders (the MGA, principal firms, and other third party service providers) to specific deadline dates
- Maintenance of the Delegated Authority Business Manual including an annual review the Heads of Business Management (or their delegates) ensuring that it reflects any changes to processes in line with GL guidelines and any legal and regulatory requirements
- To undertake any other duties that the Head of DA Business Management UK may, from time to time, deem necessary for the efficient running of the DA Business function in cooperation with the Head of DA Business UK
Competencies:
Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.
• Business insight (we think big) – you can apply your knowledge of the business and the market to
advance your business’ and wider organisation’s goals.
• Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
• Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
• Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
• Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
• Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.
Key Skills & Experience:
- Good knowledge of the delegated authority arrangements
- Detailed understanding of ELTO
- Strong report writing skills.
- Good knowledge of Microsoft Office (Word, Excel & PowerPoint)
- Organised, self-motivated, takes initiative and is able to work well under time pressure.
- Good oral and written skills, able to communicate with senior personnel
- Solutions oriented and keen to improve processes
Qualifications and Educational Requirements:
- ACII qualified
- Qualified to degree level
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:
Over the coming years, the branch will transition to a third country branch to continue to operate post Brexit. Therefore, in addition to the responsibilities set out above, the Delegated Authority Operations and Governance Specialist role will also become responsible for:
- Ensure compliance with Insurance Distribution Directive
- Satisfying all regulatory reporting requirements in collaboration with the reporting function
- Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship.
- Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules
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.
