Business Unit Risk Manager

4 months ago

Princeton, United States Munich Re Full time

We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

Munich Re US (MR US) offers the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.

The Opportunity

Future focused and always one step ahead

We are excited to offer a unique opportunity to the right candidate interested in exploring the world of Risk Management This rotational assignment offers the opportunity to have a significant role in the risk management framework, impact the overall risk managment strategy, and positively contribute to the Business Unit's goals & objectives. If this sounds like you, read further.

The Business Unit Risk Manager for MRUS will have a significant role in risk management strategy and mitigation of unwanted exposure in alignment with the global Integrated Risk Management mandate.

This role will coordinate with de-central risk owners to ensure there are no gaps in the identification and management of risks and alignment with group risk management processes. Ensure overall risk profile is transparent to management through quarterly risk reporting and presentation to the Business Unit Leadership Team, US Non-Life Risk Management Committee and the Board of Directors. Coordinate with the regional risk management function and lead the implementation of risk management best practices and their evolution in the business unit.

Requirements

  • Monitor and report on risk management processes & related controls through the Operational Risk Control System. Support Process Owners in the development of risks and controls. Additionally, the Risk Manager may also support a local risk register with further detailed/localized risks and mitigations outside of the global ORCS framework. Challenge & review effectiveness of controls and mitigations. (20%)
  • Prepare, review and/or analyze business unit materials presented to the Business Unit Leadership Team and periodically to the US Nonlife Risk Management Committee (RMC) and report on Risk quarterly to the Board in support of Corporate Risk Governance processes. Issue Statement of Risk Management for significant decisions. (20%).
  • Identify, monitor & report risks through the collaborative preparation of a quarterly Internal Risk Report. Participate in management meetings related to key company risks, including identification and risk assessment of significant projects. (15%)
  • Support the development, monitoring, and update of a Risk Strategy, Annual ORSA, various Risk Management Surveys. Participate in the development a business strategy that is consistent with the Risk Strategy (15%)
  • Develop risk culture and awareness by education of staff on risk management and group ERM practices. Communicate with external stakeholders (rating agencies, regulator & internal & external auditors) on ERM topics (15%)
  • Oversee the Business Continuity Program & coordinate the Emergency Management Group at the business unit level (15%).
  • Partner with the business on risk related projects as applicable to strengthen support and oversight in the early detection of issues and intervention that align with the various topics and time allocations noted above (ad hoc).
Qualifications:
  • Experience/exposure to Reinsurance, Personal, Commercial Lines Insurance product knowledge
  • Working knowledge of financial metrics used in Insurance
  • Understanding of Operational Risks and Controls in the Insurance Business
  • Leadership skills to influence, negotiate and inspire others
  • Ability to present and train on risk management concepts
  • Ability to understand mathematical concepts
  • Broad relationships throughout the organization in all operational areas
  • Ability to collaborate with peers in the international organization
  • Communication Skills: Clearly and concisely verbally and in writing using appropriate language and examples; when presenting, effectively captures the audience's attention through the use of professional presentation techniques; actively listens to others to ensure understanding of issues; executive presence


At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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