Financial Risk Manager

Financial Risk Manager – Munich Re Specialty – Global Markets, UK

Munich Re Specialty – Global Markets (MRS‑GM) is seeking a Financial Risk Manager to lead the implementation and embedding of the financial risk framework across our London and Manchester offices. The role is ideal for a part‑ or near‑qualified actuary looking to step up to senior stakeholder engagement and drive risk strategy.

Key responsibilities include:

• Supporting the Head of ERM in providing challenge, oversight and risk opinions on all financial risk matters including capital, reserving, product design and pricing, exposure management, business plan, solvency and climate change.
• Leading the independent validation of the internal model to satisfy Lloyd’s and the PRA’s requirements; performing annual parameterisation review and update for Operational risk modelling.
• Coordinating with and managing external consultancies on the delivery of projects.
• Supporting the development, implementation and embedding of appropriate risk appetite and other metrics.
• Supporting the Risk and Control Self Assessments (RCSA) with focus on emerging risks and climate change risks.
• Supporting the production of the Own Risk and Solvency Assessment (ORSA) report, including coordinating stress and scenario testing activities.
• Representing the financial risk function at committees and sub‑committees.
• Building strong relationships with key internal and external stakeholders, including Munich Re Group, GSI colleagues and external advisors.
• Supporting key strategic and regulatory projects, regulatory reporting and responding to regulatory requests.
• Staying up to date with technical expertise, regulations, professional guidance and deepening understanding of the business and strategy.
• Assisting with other Legal, Risk and Compliance departmental activities as required.

Knowledge and skills:

• Part or near‑qualified actuary with experience in the general insurance industry.
• Experience working in the Lloyd’s market in a Capital / Risk team is desired.
• Strong technical proficiency in data manipulation using Excel and other analytical tools; ability to conceptualise solutions for complex problems using technology.
• Demonstrated ability to produce board‑level and other reports for a wide range of audiences on complex topics.
• Excellent ability to manage one’s own time and deal with competing demands.
• Experience collaborating effectively with cross‑functional teams, including Underwriting, Claims, Finance, and building positive relationships with stakeholders at all levels.
• Must demonstrate accuracy, attention to detail and a diligent approach to work.

We encourage applicants to apply even if their experience does not align perfectly with every requirement – you may still be the candidate we are looking for.

At Munich Re, diversity, equity and inclusion foster innovation and resilience and enable us to act braver and better. We are committed to building a diverse workforce that includes a wide range of backgrounds, identities and experiences. All candidates can request a reasonable adjustment at any point in our recruitment process. Learn more about our ESG and sustainability initiatives at Munich Re.

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