Associate Wordings & DA Product Manager

About the role

The Associate Wordings & Delegated Authority Product manager is responsible for overseeing and ensuring compliance for all Product Wording and Financial Promotions being submitted from Agents in the UK Market.

Key Responsibilities

• Ensure that wordings meet the legal, regulatory and internal guidelines and are kept up to date with any necessary changes both within the U.K. and Europe.
• Work with external law firms to ensure product wording is appropriate for countries where there are limited internal language capabilities.
• Support the annual reviews for European products, including feedback to the agents, reports and monitoring of the outcomes.
• Manage the marketing and financial promotions process and develop the process for European agents.
• Collaborate with key stakeholders on internal and regulatory oversight requirements. Analyse and feedback on key regulatory development and the impacts on products.
• Manage the centralised wordings repository and consider the potential options for a future wordings library.
• Lead the process for new product approvals by coordinating with all relevant internal and external stakeholders.
• Work closely with the Legal department and other wording experts within the wider Munich Re Group.

Competencies

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience

• Strong legal and organisational skills.
• Strong interpersonal skills, great teammate and highly motivated.
• Excellent communication skills.
• “Can do” demeanour with a solutions focussed approach.

Desired Qualifications and Educational Background

Essential

• University degree or insurance qualifications;
• primary insurance wordings and regulatory experience
• knowledge of various regulatory frameworks such as EIOPA and FCA PROD rules.

Desirable

• Understanding of European regulatory regime
• knowledge of the pricing best practice for personal and commercial lines products
• Fluency in German and/or another European language

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, the Associate Wordings & Delegated Authority Product manager will also become responsible for:

• Ensure compliance with Insurance Distribution Directive
• Liaising if required with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

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.

Diversity, Equity & Inclusion

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. We recognise diversity can be multi‑dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

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