Compliance Manager

Overview

As a Compliance Manager in the UK, you will develop and maintain a compliant CMS and lead risk-based advisory across Great Lakes UK entities within the Munich Re group. You will strengthen the compliance culture, deliver the Compliance Plan, and provide specialist guidance on topics like sanctions, outsourcing, and regulatory change. You’ll train stakeholders, monitor breaches, and support governance with a focus on sustainable compliance improvements. This is an opportunity to shape a robust compliance framework in a collaborative, risk-aware environment.

Pay / Benefits

• great compensation package
• on target bonus
• 25 days annual leave
• private medical insurance
• employer’s contributory pension of 10%
• fully paid 6 months family leave

Responsibilities

• Support the Head of Legal & Compliance to develop, implement and maintain a compliant CMS
• Maintain and enhance CMS elements: culture, risk analysis, norms management, whistleblowing, training and monitoring
• Deliver the Compliance Plan as approved by the Company Board
• Own specific Compliance topics and advise the business
• Develop and enhance the CMS framework, including controls and automation opportunities
• Create and deliver training on compliance topics and regulatory landscape
• Perform compliance monitoring and adapt to business changes
• Monitor and escalate potential compliance breaches and external regulatory breaches
• Implement group-wide compliance norms for GLLB and GLLS
• Perform impact analysis of regulatory publications to identify CMS risks
• Support onboarding of new business, risk assess outsourcing, ensure external service requirements
• Advise on Financial Sanctions risks across insurance/reinsurance
• Collaborate with second line and support risk and control assessments
• Draft regulatory notifications and communications with authorities
• Contribute to adjusting compliance function across GLLB and GLLS and governance requirements

Key requirements

• Proven experience in developing and monitoring a conduct risk framework including product governance for SME and retail insurances
• Several years’ experience in a compliance role within insurance
• Full working knowledge of PRA and FCA rules, practices and expectations
• Knowledge of primary insurance regulatory environment and related conduct risks
• Understanding of compliance requirements for at least two core topics (e.g., Prudential standards, SMCR, Financial Crime, Financial Sanctions)
• Analytical, pragmatic, solution-oriented
• Ability to manage internal and external stakeholders at different seniority levels
• Excellent organizational skills and communication abilities
• Experience with delegated authority models and multi-channel insurance distribution networks (desirable)
• Experience in preparing reporting to senior management and Boards and presenting on key topics
• Experience in developing and reporting on Management Information (risk tolerances, KRIs, KPIs)
• Degree-level education or equivalent; professional qualification as Chartered Insurer or progress towards it
• Knowledge of Solvency II and BaFin regulatory standards

• Nimble learning
• Collaborates
• Optimises work processes
• Conduct risk framework
• Product governance for SME and retail insurances
• Regulatory change impact analysis

…