Title:  Claims Governance Oversight Manager

Introduction

Munich Re Specialty – North America(MRSNA), Binding Authorities is a leading expert in understanding and connecting US coverholders and brokers to flexible and innovative insurance solutions. We are also a registered Lloyd’s Broker. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products and risk appetite of one of the largest and most successful insurance groups in the world.

We are specialists in offering expertise in underwriting, broking and capacity management for US Excess and Surplus (E&S) lines insurance solutions. The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd’s, London Market companies, and Munich Re owned capacity in Germany and the US.

Why join us?

We are a responsible employer, with a reputation for innovation and adding value in the insurance distribution chain. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products, risk appetite and career development opportunities of one of the largest and most successful insurance groups in the world. As our business continues to grow, we are committed to expanding our team and provide development opportunities to ensure we are always supporting our people in their career journey. Our talent pool makes us who we are, and our inclusive culture means we are looking to continue to build our team with broad expertise, diverse backgrounds, and ambitious employees. Being part of MRSNA-BA provides access to multiple health and wellbeing benefits, work-life balance initiatives (including hybrid working), financial wellbeing packages as well as training, development and career opportunities.

The Role 
Claims Governance Oversight Manager

Overview
The Claims Governance Oversight Manager, will primarily focus on governance and control framework strategy for Claims Governance across the inhouse and our delegated business, including the oversight of Third-Party Administrators (TPAs), Coverholders and our internal practices. The successful candidate will be responsible for creating a framework to ensure robust governance practices are in place, managing data quality, and implementing controls to ensure their compliance, including adherence to regulatory requirements and industry best practices.

Responsibilities 

This role will primarily focus on governance and control framework strategy for Claims Governance across the inhouse and our delegated business, including the oversight of Third-Party Administrators (TPAs), Coverholders and our internal practices. The successful candidate will be responsible for creating a framework to ensure robust governance practices are in place, managing data quality, and implementing controls to ensure their compliance, including adherence to regulatory requirements and industry best practices.

Key Responsibilities

Develop and drive the strategy for the implementation of a comprehensive governance framework tailored to the delegated business written by MRSNA- BA.

• Establish a Quality Assurance and Control framework, policies, and procedures and reporting standards to ensure consistent product or service quality across portfolio.
• Proactively assess the potential impact of legal developments within relevant jurisdictions, on claims work and amend guidelines and work practices where necessary so that industry specifications, standards, regulations are adequately reflected.
• Prepare materials and information required in response to internal and external regulatory audits, data calls and surveys and assist in preparing responsive communications. Partner with the business units in preparation for internal and external audits and examinations, including remediation plans resulting from such audits and exams
• Risk and Control Self-Assessment (RCSA), Assess risks and identify potential areas of compliance vulnerability, define and review essential risks of the processes for claims management regarding compliance, anti-fraud measures and others according to the ORCS Group Policy. Manage claim governance and quality assurance projects and programs to ensure claims are always kept in compliance.
• Oversee the management practices of Third-Party Administrators (TPAs) /Coverholders to ensure compliance with agreed standards and regulatory requirements:

• Act as a key point of contact for governance matters, providing guidance and support to stakeholders. And to demonstrate ownership and accountability in the UK for  key decision making areas, which includes, managing annual contract renewals, and overseeing TPA audits outcomes and the adoption of GLOW.

• Take active involvement in Claims related project work, including acting as the project lead, where required.
• Take ownership of and make personal and professional development a priority as part of Continuous Conversations.

General Duties and Responsibilities

• To embrace and actively implement the core principles of Continuous Conversations; (Commitments, Feedback and Development) as part of daily activities and with other colleagues;
• Take ownership of and make personal and professional development a priority as part of Continuous Conversations;
• In line with Continuous Conversations, establish and achieve development aspirations and needs through the setting of commitments and giving and receiving frequent, constructive feedback (referring to resources provided for support);
• To abide by the policies and procedures of B&C.

Key Skills and Experience 

• Proven experience in data governance, data management, or a related field within the insurance industry.
• Strong understanding of delegated authority business and the role of TPAs/Coverholders in the insurance value chain.
• Experience in managing data quality and implementing data governance frameworks.
• Knowledge of regulatory requirements related to data governance in the insurance sector.
• Excellent communication and interpersonal skills, with the ability to engage and influence stakeholders at all levels.
• Strong written communication skills essential 
• Strong organisational and presentational skills
• Strong problem-solving skills and the ability to think strategically.
• High level of attention to detail and a commitment to delivering high quality outcomes.

Benefits

• This position is offered on a Permanent basis.
• Annual salary will be dependent on the skills and experience of the successful candidate.
• Annual leave - 25 days per year (plus bank holidays), increases with length of service.
• Health & Wellbeing – our offering includes private medical insurance for employees, their partners and their families, a Digital GP service and an annual allowance (currently £550) any activities which supports health and wellbeing.
• Hybrid and remote working – to support your work balance we have introduced hybrid working.  You will be provided with support to work from home up to a maximum of three days per week.
• Flexible working hours – the opportunity to flex your working hours.
• Generous gender-neutral family leave policy - employees with 26 weeks’ continuous service at the Expected Week of Childbirth are eligible to receive 26 weeks full pay.

Equal Opportunities
Munich Re is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, transgender status, religion or belief, marital status, or parental status.