Job Purpose:

To support a new Delegated Authority (DA) Assurance function, designed to enhance oversight and control of Delegated Authority relationships within Great Lakes.

This role focuses on capturing additional data, performing detailed analysis, and conducting quality assurance to strengthen governance over DA arrangements, audits, and processes, including those of Great Lakes' Outsourced Service Providers (OSPs).

Key Responsibilities:

Act as a deputy to the Assurance Manager as needed.
Promote best practices in Delegated Authority oversight.
Monitor, analyze, and oversee audits of approved DA arrangements by Third Parties and Great Lakes partners.
Share audit findings and trend analysis with business stakeholders.
Contribute to due diligence activities for onboarding new agents, coverholders, and TPAs, including on-site reviews as needed.
Conduct quality assurance reviews of audits and share findings with the Head of DA Audit and Assurance and relevant stakeholders.
Facilitate feedback for internal audit issues, assisting with tracking and reviewing follow-up actions.
Support adherence to the Audit Risk Appetite, aiming to minimize and avoid overdue audit findings.
Foster and maintain collaborative relationships with colleagues, business partners, and external stakeholders.
Provide support for ad hoc projects or long-term initiatives aligned with Great Lakes’ goals.

Key Duties & Tasks:

Oversee audits of DA arrangements and analyze reports from OSPs.
Communicate results and trend analysis of Sub-Delegated and Third Party Audits to relevant business units.
Conduct audits of Sub-Third Party Service Providers both onsite and remotely, with occasional international travel.
Assist in preparing regular MI reporting for Great Lakes UK and SE boards and committees, ensuring data accuracy and relevance.
Support due diligence and onboarding processes, assessing the suitability of new business partners.
Participate in Quality Assurance Dip Checking and "Check the Checker" reviews for the Delegated Authority Audit Pillar.
Manage the internal issues log, coordinating with Subject Matter Experts (SMEs) to address and resolve concerns.
Clarify audit versus BAU oversight responsibilities within the business.
Work collaboratively with ABMs, Claims, and SMEs to proactively manage audit findings, helping prevent overdue findings.
Ensure compliance with Munich Re’s Code of Conduct and FCA Conduct Rules.
Support regulatory reporting requirements with the reporting function as needed.

Key Skills & Experience

Essential:

Strong experience with Delegated Authority models, oversight, and controls.
Solid knowledge of the regulatory landscape surrounding insurance products.
Proficiency in report writing and Microsoft Office Suite.

Desirable:

Knowledge of MGA and TPA operations.
Experience in auditing and familiarity with legal contracts.
Skills in data analytics and Power BI.

Personal Attributes:

Strong analytical and creative thinking skills.
Excellent organizational and interpersonal skills.
Team-oriented, with a proactive approach to sharing knowledge and ideas.
Effective communication and client-facing abilities.
Willingness to travel (up to 10% of the role, including within the UK and internationally).
Flexible and collaborative, able to advise and provide constructive feedback.
Consistently fair and pragmatic, offering independent and balanced perspectives.

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.

Fixed Term Delegated Authority jobs

DA Assurance Specialist (1Yr FTC)