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Business Manager
Risk & Compliance
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About Great Lakes Insurance SE:
As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.
Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.
Munich RE via its Primary Insurance entity Great Lakes Insurance SE has been continuously growing its “credit business” over the last decade with significant further growth ambitions for the coming years. One key area for growth is providing credit risk transfer / regulatory capital relief solutions to financial institutions. A business that Munich RE refers to as Structured Portfolio Solutions (SPS).
In order to achieve Munich RE’s growth ambition in this area, we are building up a heterogenous, multi-talent team of experts with credit experience (capital market, lending, banking and/or insurance) from diverse backgrounds such as finance/MBA, CFA, mathematics/actuaries and lawyers.
About the role:
For this specific position, we are looking for a SPS business manager based in Dublin who acts as a coordinator across management, business units, and support functions to ensure that the business operations run smoothly, all process post execution are performed and quality is ensured, performance is monitored and improved and governance and reporting are robust. The position is less client-facing and more internal coordination and control. SPS business is mainly so-called synthetic securitization transactions under the Basel III framework. The underlying loans may range from consumer (mortgage, auto, credit card, retail) to corporate (SME, CRE, receivable finance, leveraged finance, etc.) loans. You will be part of an experienced team and contribute to the development of the SPS business by improving reporting and surveillance, business planning and strategy tracking, as well as business operation improvement with a high focus on systems, data quality, and transaction accuracy.
Key Responsibilities:
- Ensure that all SPS transactions are captured in all relevant systems with high quality. Engage with stakeholders where data quality is insufficient.
- Ensure collection and processing of client reports for the business. Quality check client reports and follow up on missing reports or quality issues.
- Perform limit monitoring and ensure correct accumulation control of relevant exposures.
- Ensure claims payment process is timely and correct.
- Prepare reports, dashboards, and KPIs for management and other stakeholders
- Track business performance vs targets
- Analyse payment data and reconcile cash flows for SPV transactions
- Identify issues and propose corrective actions
- Ensure processes run efficiently, Improve workflows and systems, Troubleshoot operational issues
- Coordinate across departments (risk, finance, legal, IT)
- Ensure compliance with business norms and directives
- Support audits and controls
Competencies:
Drives engagement (we think big)– you create a climate where individuals understand team commitments and the Company ambition. They understand how their role contributes to both and you create an environment where they feel motivated and inspired.
Builds effective teams (we lead the ‘we’) – you build strong-identity teams that work collaboratively, applying their diverse skills and perspectives to achieve common commitments.
Values differences (we lead the ‘we’) – you recognise the value that different thoughts, generations, cultures and experiences bring to your team, business unit and wider across the Group. Thus, ensuring that team dynamics are diverse and inclusive.
Balances stakeholders (we grow with our clients) – you can anticipate and balance the needs of multiple stakeholders (internal and external), prioritising effectively, challenging appropriately and ensuring value is provided.
Situational adaptability (we care and dare) – you recognise the need to be flexible and adapt your approach depending on the situation. Whether you are a people manager or technical expert, you lead with empathy, whilst appropriately identifying when to take a stand against complacency and conformity.
Develops talent (we care and dare) – you develop talent to meet both their personal and professional goals, but also the organisation’s goals, identifying opportunities and supporting managers in your team to develop their direct reports (for technical experts this would involve supporting the development of talent).
Instils trust (we are clear and authentic) – you gain the confidence and trust of others through honesty, integrity and authenticity, building strong relationships and inspiring those around you.
Key Skills & Experience:
- University degree in a relevant discipline, like business, law or Mathematics or a similar field
- Several years of professional experience with finance operations, experience in roles related to project management
- Knowledge of structured credit products (ABS, RMBS, CLO) and experience with structured credit portfolio risk transfer products.
- Knowledge about banking products and regulation
- Financial and data analysis skills, comfortable with reporting, KPIs, and systems
- Effective communication skills, able to present complex matters to a non-technical audience
- Excellent analytical and conceptual skills combined with the ability to explain and present on a senior management level
- Ability to work collaboratively and effectively in an international, dynamic and hybrid set-up
- Willingness to travel
- Confident appearance and high social competence towards colleagues, customers and other Munich RE units. Team spirit, initiative, ability to work independently, solution-oriented thinking. Ability to use theoretical knowledge to develop practical, efficient solutions.
- Ability to manage stakeholders and problem solving skills.
- Fluent in English; knowledge of another major European language is desirable but not mandatory.
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Thought Leaders:
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.
You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
You will treat your colleagues and sales and business partners fairly and with respect.
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, this role/function will also become responsible for:
- Ensure compliance with Insurance Distribution Directive
- Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules