Delegated Authority Business Manager 1

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Sector: Insurance
Role: Manager
Contract Type: Permanent
Hours: Full Time

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:
As a 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.

About the role:
Outsourcing of services is an essential element of Great Lakes' business model. The DA Business Management function is responsible for promoting and strengthening Great Lakes' reputation as a skilled partner; to develop PIRI business and enhance its service quality and operational excellence; to manage the development, facilitation, and business relationships of Great Lakes agency insurance business with both the serviced agents and Munich Re business owners. The DA Business Manager is responsible for assessing and managing risk through overseeing, steering and monitoring our delegated authority business.

Key Responsibilities:

1. Onboarding:
   • Collaborate with Munich Re Business Units to develop and implement tailored market- or client-specific strategies for assigned agencies and/or jurisdictions.
   • Facilitate decision-making processes for onboarding new agents, coordinating approval boards and committees in partnership with the Head of Agency Business UK and ensuring alignment with internal guidelines.
   • Provide expert insights to support senior leadership in achieving GLLS strategic objectives.
   • Lead the business development process for onboarding new agents, working closely with subject-matter experts and professional advisors to maintain consistency and compliance with internal standards.
   • Contribute to the successful delivery of Great Lakes' Delegated Authority (DA) strategy objectives.
   • Oversee the due diligence and quality assurance processes, ensuring they meet internal standards, regulatory requirements, and high-quality benchmarks.
   • Promote best practices to enhance oversight excellence across the lifecycle of delegated authority business.
   • Champion a client-focused approach, driving the delivery of value propositions and effectively negotiating with internal and external stakeholders to achieve positive outcomes.
2. Oversight:
   • Manage and oversee agency activities to strengthen Great Lakes' governance and control of Delegated Authority (DA) relationships.
   • Monitor agent performance and Key Risk Indicators (KRIs), offering regular feedback, guidance, and reporting concerns to the appropriate boards and committees when needed.
   • Serve as a trusted advisor to the Great Lakes Senior Leadership Team, leading key initiatives and presenting insights to the Board.
   • Collaborate with DA Audit Managers to define audit scopes, contribute to audit preparations, and ensure smooth execution.
   • Ensure timely resolution of audit findings by partnering with outsourcing providers and internal subject matter experts, reviewing supporting evidence and recommendations.
3. Knowledge Sharing:
   • Maintain proactive communication with other Great Lakes departments, outsourcing partners, and Munich Re Business Units to stay informed about all aspects of agents' activities, including run-off operations.
   • Foster open, service-focused dialogue with key stakeholders across the Munich Re Group.
   • Share in-depth knowledge of regulatory frameworks and environments to enhance operational practices, ensuring alignment with strategic objectives and compliance standards.
4. Projects:
   • Independently lead and manage projects, overseeing all phases from initiation to completion.
   • Drive innovation and promote continuous improvement within the DA Business Management function through proactive strategies and effective implementation.

Key Skills & Experience:

• Proven experience managing delegated authorities, with in-depth knowledge of regulatory requirements, risk-based oversight, audit, and underwriting processes.
• Familiarity with regulatory frameworks (e.g., FCA, Solvency II) related to delegated authorities.
• Exceptional analytical, conceptual, and organizational skills, with a strong attention to detail and a solution-oriented mindset.
• Strong communication skills, both written and verbal, with the ability to manage relationships and collaborate effectively with senior executives, managers, and peers across internal and external stakeholders.
• Solid understanding of Binding Authority agreements and local regulations.
• Proven ability to manage multiple tasks and meet strict deadlines.
• Excellent project management skills, with expertise in managing the end-to-end delegated authority lifecycle, and the ability to lead and collaborate on multifunctional projects.
• Extensive experience and understanding of primary insurance, ideally with a background in distribution, business development, and outsourcing governance, as well as knowledge of reinsurance and the full value chain.
• Commercially focused, with strong market awareness and business acumen.
• Confident and engaging communicator with exceptional negotiation skills.

Qualifications and Educational Requirements:

• Educated to degree level or holding an equivalent qualification.
• Project management certification (e.g., PRINCE 2) is preferred.

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 6 months family leave for times when you need it the most.

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.

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!