Delegated Authority Product Governance Specialist

Delegated Authority Product Governance Specialist

Join to apply for the Delegated Authority Product Governance Specialist role at Great Lakes Insurance SE .

About Great Lakes Insurance SE: Great Lakes Insurance SE operates from its headquarters in Munich and via branch offices in the UK, Ireland, Switzerland, Italy and Australia. It is part of the Munich Re Group. Great Lakes Insurance UK Limited (GLLS) is a fully owned subsidiary of Great Lakes Insurance SE and acts as the facilitator of agency insurance business in the UK.

About the role:

The DA Product Governance Specialist is part of a small team responsible for approving, monitoring and reviewing insurance products to ensure regulatory obligations are met and customer outcomes are good. The role collaborates with the Underwriting and Products teams to develop, approve and monitor Great Lakes products, liaising with stakeholders across the organisation to support development and approval of new products and to monitor ongoing product compliance with regulatory frameworks and internal processes and documentation.

Key Responsibilities:

• Support the annual review schedule for all Great Lakes manufactured/co-manufactured products, considering UK regulatory demands.
• Organise written reports and feedback from reviews, document outcomes, and monitor progress to ensure recommendations are implemented within timeframes.
• Collaborate with partners to develop new products, bringing necessary skills from Underwriting and Products teams to support approval and growth of products under the Great Lakes brand.
• Ensure new products and changes comply with the POG framework for approval by the Global Underwriting and Product Committee.
• Monitor product development and performance against required metrics; respond to product-related queries; work with the Product Governance Manager on reviews and report findings to Boards, Committees and Senior Management; track actions to completion.
• Assist in producing and challenging product governance metrics and MI, presenting to relevant Boards, Committees and Senior Management.
• Maintain and update conduct and compliance policies; support testing, monitoring and challenge of processes; ensure stakeholders understand product governance requirements and provide training as needed.
• Manage the agent financial promotions referral process for UK Agents.
• Collaborate with colleagues across Underwriting and Product teams and beyond to support regulatory oversight; stay informed of regulatory changes and provide feedback to the product team and stakeholders.

Key Skills & Experience:

• Strong communication skills and ability to interact in Group project teams and cross-divisional teams in a dynamic environment.
• Passion to advance Great Lakes underwriting oversight goals with a diverse set of stakeholders.
• Strong analytical abilities and organizational skills; knowledge of Munich Re Group is a plus.
• Understanding of relevant regulatory regimes affecting Great Lakes business.
• Previous review experience and/or underwriting or audit experience; familiarity with wordings and contracts is useful.

Qualifications and Educational Requirements:

• University degree or insurance qualifications.
• Business English essential; knowledge of a European second language is beneficial.

Regulatory & Conduct Requirements:

• Ensure compliance with FCA PROD 4 requirements.
• Satisfy regulatory reporting requirements in collaboration with the reporting function.
• Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

We offer a strong compensation package, on-target bonus, 25 days of annual leave (with option to purchase more), private medical insurance, and a contributory pension. We also provide fully paid 6 months family leave in certain times of need.

Diversity, Equity & Inclusion:

Munich Re fosters DEI to drive innovation and resilience. We aim to build a diverse workforce across identities and backgrounds and provide equitable opportunities to succeed. If your experience does not align perfectly with every requirement, we encourage you to apply anyway. Reasonable adjustments are available during the recruitment process via your Talent Acquisition contact.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Product Management, General Business, and Strategy/Planning
• Industries: Insurance, Financial Services, and Insurance Agencies and Brokerages

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