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About UK Life Branch:
With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.
At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.
About the role:
The role holder will be a senior member of the Pricing division, taking a leading role in the work that the team delivers. They will be ultimately responsible for managing all systems, tools and infrastructure across the Pricing division, for all lines of business. This includes maintaining and developing the existing tools, and taking a steering role in transform projects to ensure that new toolsets continue to meet the needs of the business.
Key Responsibilities:
- Take a lead role in defining and setting the strategic direction with regards to pricing tools and infrastructure. Developing and delivering a roadmap that helps to achieve our goals.
- Be an important technical expert and contact point for all systems and tools across the Pricing division, which includes providing a steer on technology that are used.
- Develop technical knowledge and expertise relevant to the tools and systems used within reinsurance Pricing.
- Develop and maintain strong relationships with our IT teams and Third-party providers, and senior stakeholder across the business.
- Take a role in the delivery of maintenance of the existing toolsets, including getting feedback from the wider division on tools development needed and ensuring compliance with technical standards.
- Propose improvements to Pricing tools and processes to ensure that we are the most efficient we can be.
- Oversee and lead decisions on transform projects to ensure that new toolsets and infrastructure meet our needs, and that we are embracing new technology.
- Provide technical input into to the development of tools, including best practices on programming, development and testing.
- Ensure that any maintenance or transform project is resourced and prioritised effectively, by partnering with other leads within the Pricing division.
- Ensure that training on systems and tools is embedded and actively encouraged within the division.
- Oversee the delivery of accurate work. Checking and peer reviewing other team members’ work and providing guidance to more junior members of the team.
- Construct important branch and global network of contacts, including those within the Protections and Longevity Pricing teams who use the tools and systems.
- Represent the team and communicate updates and decisions to senior management and other departments.
- Direct line management responsibility and also support of other junior colleagues. Supporting the development of those individuals by setting expectations, providing feedback and looking for opportunities where they can challenge themselves and have autonomy.
- Lead discussions to help set the direction of the team, inputting in to non-technical topics (including people and culture).
Competencies:
Strategic mindset (we think big) – you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.
Ensures accountability (we lead the ‘we’) – you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.
Managing complexity (we grow with our clients) – you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.
Sponsors work (we care and dare) – you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) – you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.
Being resilient (we are clear and authentic) – setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.
Key Skills & Experience:
- Significant and relevant knowledge or experience of the UK insurance market.
- Knowledge of systems and tools used within Pricing processes and actuarial modelling. Prior experience within reinsurance is preferable.
- Ability to oversee and project manage tools development. Prior experience in delivering systems projects is preferable.
- Strong programming skills (R, Python, SQL, VBA or similar) and strong computer literacy (MS Excel, Word).
- Ability to grasp new concepts and technical issues quickly.
- Good analytical skills and ability to make judgement calls where there is uncertainty.
- Ability to communicate technical concepts effectively to colleagues from with varying levels of knowledge.
- Ability to work effectively with IT teams and developers by communicating our requirements.
- Confidence to challenge peers and manage upwards.
- Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority.
- Ability to build an understanding of internal strategy and needs of the division.
- Good organisational and planning skills.
- Experience with managing or providing leadership to other colleagues either directly through line management or indirectly on work, providing feedback and supporting with development.
Qualifications and Educational Requirements:
- Qualified Actuary, or actuarial experience
People Leader:
You are aware of your role (as a leader) in being able to influence your team structure and culture to promote principles of diversity and inclusion.
You strive to continuously educate yourself on best practice for inclusive leadership.
You demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
You support a culture in which high ethical conduct is recognised, valued and embodied by all
You treat everyone fairly and with respect.
Thought Leader:
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.
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
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.
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.
