As an integrated insurance carrier of Munich Re Group, Great Lakes Insurance SE (GL) is a white-label specialty provider and enabler for primary insurance in >100 countries. GL is an important part of Munich Re Group and enables primary insurance specialty business for Munich Re’s Global Specialty Insurance (GSI) and primary insurance opportunities that are connected to the core business of Munich Re reinsurance. In a global setup, the Great Lakes Australia (GLA) branch manages the Great Lakes business portfolio in Australia, with a focus on Delegated Authority (DA) business in cooperation with Australian MGAs.
As Deputy DA Manager, you will support the DA Manager in overseeing and optimising GLA’s delegated authority (DA) operating model across the full outsourcing value chain and lifecycle, with the goal of delivering a best-in-market proposition for Australian MGAs.
Reporting locally to the GLA DA Manager, with a functional line to the Head of DA Global Operations, you will help align local execution with the global DA framework. The role requires close collaboration with international stakeholders, particularly in Europe, to ensure consistency with global standards and ongoing enhancement of the operating model.
Your Role
Support (and deputize for) the DA Manager in operating the DA operating model:
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Business management throughout the value chain and life cycle, i.e., coordination of several functions that jointly manage the outsourcing relationship with MGAs throughout the value chain.
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Orchestrate decision-making processes of the DA lifecycle steps (onboarding, oversight and steering, offboarding).
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Oversight & control of MGA outsourcing, i.e., use the compliant oversight and control framework for outsourcing providers, ensuring ongoing control and mitigation of outsourcing risks on a global level within the 3 Lines of Defence model.
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Ensure due diligence/ quality assurance and comply with internal guidelines, considering external regulatory requirements.
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Facilitate ongoing risk assessments between internal stakeholders to provide a holistic and updated overview and share information about outsourcing relationships.
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Ensure adherence to GL’s global outsourcing policy procedures.
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Manage audit recommendations closure by following up with all partners.
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Demonstrate a proactive and ownership-driven approach to the success of GLA’s Delegated Authority portfolio.
Assume responsibility for several key elements of the DA operating model:
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Customer oversight and Complaints management: In alignment with the central Head of DA Customer Oversight in Germany, continue to roll out the global GL customer oversight framework in Australia including necessary amendments to address Australian specificities.
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Manage the GLA customer oversight framework including oversight of GLA’s internal dispute resolution (IDR) process in accordance with local regulation.
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Engage with internal and external stakeholders to resolve IDR and AFCA complaints expeditiously.
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Assume responsibility for all engagements between GLA and AFCA including the drafting of AFCA submissions and ensuring compliance with regulatory requests and requirements concerning GLA’s complaints management processes.
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Agency Audit: Coordinate the audits of local DA / MGA partners, i.e., establish scope of the audit with the central agency audit team in London as well as local GLA functions, safeguard adequate preparation of the audit including alignment with external DA partners, act as on-the-ground orchestrator of the audit and coordinate mitigation of findings.
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Dashboards, KPIs and reporting: Establish and align business requirements for the development of dashboards and KPIs to further enhance reporting across the DA value chain. Act as central owner of the GLA DA team’s business requirements, and collaborate with data analysts as well as IT to transform the requirements into usable work products.
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Assist and Support in Continuous Improvement Initiatives: Support and contribute to continuous improvement initiatives across the Delegated Authority operating model, including the design, enhancement and implementation of improvements relating to underwriting assessment, product governance, and ongoing monitoring and oversight, ensuring alignment with the global DA framework, Australian regulatory requirements, and evolving business needs.
Stakeholder Management: Maintain professional relationships at an executive level towards outsourcing partners, Munich Re business units, internal stakeholders and across various committees – including functional leads in Europe.
Client centricity: Promote client centricity within the DA business management team and deliver the DA value proposition, conducting negotiations with important internal and external clients.
Your Profile
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3–6 years’ experience in management of delegated authority arrangements, underwriting, reinsurance operations, finance, actuarial or internal audit within insurance or reinsurance.
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Experience in complaints handling, particular internal dispute resolution (IDR) and external dispute resolution (EDR) matters including AFCA submissions and ensuring compliance with regulatory requests.
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First line business experience strongly preferred, particularly within claims, underwriting, portfolio management or finance.
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Experience in a second line risk or internal audit role is beneficial but not essential.
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Working knowledge of delegated authority (agency) arrangements and related operational processes is highly desirable.
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Strong interest and capability in data analytics, data governance, risk systems, and process controls.
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Practical experience working with data, including extracting, reconciling, validating and analysing operational or financial information.
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Experience contributing to dashboards, automated reports or analytics tools (e.g. Excel, BI tools, SQL or similar) is desirable.
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Strong analytical, documentation and organisational skills.
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Ability to communicate clearly with both technical and non-technical stakeholders.
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Comfortable managing competing priorities and working with a broad range of stakeholders.
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Tertiary qualifications in underwriting, operations, business, data or a related field preferred.
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.
