This position will support the strategic development, implementation and maintenance of the ERM framework of Munich Re’s US P&C legal entities and ensure that risk management strategies, policies and procedures reflect the organizations’ appetite and tolerance for risk, and provide clear guidance on the identification, measurement, monitoring and assessment of risks.
Other major accountabilities are to:
- Create and implement risk management policies reflecting Munich Re Group, rating agency and regulatory requirements for the GCNA3 legal entities
- Assess the adequacy and effectiveness of organizational processes and the risks and controls and recommend changes in process or controls.
- Identify and analyze business scenarios which negatively impact financial metrics (i.e., income, capital, liquidity) and recommend solutions and risk mitigation strategies
- Quantify the frequency and severity of losses for scenario analyses or risk assessments
- Build and maintain a network of internal risk management contacts
- Solicit feedback on policies, synthesize in policy updates, explain/justify to Risk Management Committee and influence the approval
- Bachelors degree in e.g. Business, Economics, Finance, Mathematics, Risk Management
- At least 10 years of Insurance/Reinsurance experience or other business experience with emphasis on risk management preferred
- Strong knowledge of (re)insurance & products, financial metrics used in insurance and industry data sources.
- Broad knowledge of insurance company processes and functions.
- Requires strong teamwork skills in order to collaborate and build strong relationships with co-workers and internal clients to support development and implementation of solutions for identified gaps in risk management.
- Project management skills: plans, organizes, motivates, and controls resources to achieve specified project goals and objectives while respecting defined constraints
- Decision making skills: Solicits and objectively considers input from appropriate sources; Considers implications of actions on other areas, people, and processes when making a decision
- Communication skills: clear and concise verbally and in writing using appropriate language and examples
- Agility: Adapts approaches that are appropriate for each situation, Accepts and adapts to new situations