Head of Risk and Compliance

Introduction:

Are you a purpose-driven Risk & Compliance leader looking for a role with real strategic influence?
We are committed to building a diverse, collaborative, and inclusive leadership team, and we welcome applicants from individuals of all backgrounds and experiences. In this role, you will help shape our risk culture, strengthen our regulatory framework, and play a pivotal part in guiding our organisation forward. This is a highly visible Senior Manager function (SMF4/SMF16), working closely with our Executive Committee and Boards, and contributing directly to our long-term success. If you’re ready to bring your expertise, fresh thinking, and leadership to an organisation that values equity, inclusion, and growth, we would be delighted to hear from you.

This role carries formal responsibilities under the Senior Managers & Certification Regime (SM&CR):

• SMF4 – Chief Risk Officer
• SMF16 – Compliance Oversight Function

The post-holder must be approved by the FCA for these functions and remain fit and proper in accordance with the FCA Handbook, Code of Conduct (COCON), and all relevant regulatory requirements.

About us:

Munich Re Specialty North America - Biding Authority (Bell & Clements formerly) 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.

About the Role:

We are seeking an experienced and forward-thinking Head of Risk & Compliance to lead our Risk Management & Compliance Support (RMCS) function. You will own the delivery of a robust risk management and compliance framework, ensure full regulatory alignment, and provide strategic direction across the business. Working closely with senior leadership, Boards, and Munich Re Group functions, you will play a central role in shaping our risk culture and supporting sustainable business growth.

Key Responsibilities:

Risk Management – SMF4 (Chief Risk Officer)

• Lead the development and implementation of a comprehensive risk management strategy aligned to MRSNA-BA and Munich Re Group objectives.
• Oversee identification, assessment, and mitigation of financial, operational, strategic, and regulatory risks.
• Maintain risk frameworks, policies, procedures, and the company Risk Register.
• Provide regular reports to the Executive Committee and Boards on key risks, trends, and mitigation actions.
• Deliver second line oversight for incident management, business continuity, and project risk.
• Support and challenge risk owners through the RCSA process in line with Group ORCS requirements.
• Promote a strong risk culture, delivering training and guidance across the organisation.
• Engage with regulators, auditors, and external stakeholders as required.

Compliance Oversight – SMF16

• Develop, implement, and maintain a compliance framework that meets FCA and other global regulatory obligations.
• Serve as the internal subject matter expert on regulatory matters.
• Provide regular compliance reports to the Executive Committee and Boards.
• Ensure effective horizon scanning, regulatory monitoring, and change management.
• Oversee compliance training and support the embedding of a strong compliance culture.
• Ensure timely and accurate regulatory submissions (e.g., RMAR, Companies House filings).
• Oversee outsourced Legal and Data Protection arrangements.
• Collaborate with Group Compliance, the UK Head of Compliance, and global teams.

Leadership & Department Management

• Lead and develop the RMCS team, fostering capability, confidence, and professional growth.
• Ensure adherence to all legal, regulatory, and policy requirements.
• Set strategic direction, objectives, and performance standards for the department.
• Uphold and promote COCON standards across the team.
• Contribute to the Internal Audit Programme and Remuneration Committee recommendations.

General Responsibilities

• Build strong working relationships across MRSNA-BA, MRAS, GSI, and Munich Re Group functions.
• Provide a high-quality, professional service to internal and external stakeholders.
• Embrace continuous improvement, development, and constructive feedback.

Qualifications & Experience:

• Membership of a relevant professional body (desirable).
• Ideally already approved as SMF4 and/or SMF16 within an insurer or intermediary.
• Minimum 10 years’ experience in risk management, compliance oversight, or related fields in financial services.
• Proven leadership experience at senior level within Risk or Compliance.
• Strong knowledge of FCA regulations, governance frameworks, and risk methodologies.
• Exceptional communication and stakeholder-management skills, with influence at Executive and Board level.

Why Join Us?

• Senior leadership role with direct strategic influence across the business.
• Opportunity to shape, modernise, and enhance our risk and compliance environment.
• Highly collaborative culture with global support from Munich Re Risk & Compliance teams.
• Competitive compensation and benefits package.

About Us:

At Munich Re, we think big: We lead with purpose, embrace change, and promote innovation.
We care and dare: We build future leaders, empower others, and lead with empathy.
We communicate clearly and authentically: We listen, learn, and foster transparent dialogue.
We grow with our clients: We support the business in creating value and embracing digital ways of working.
We lead the We: We value different thoughts, generations, cultures, and experiences, and create an environment where everyone can thrive.

Our Commitment to Diversity, Equity & Inclusion
We believe diversity strengthens our resilience, enhances innovation, and enables us to fulfil our purpose of helping humankind act braver and better. We aim to build a workforce that reflects a wide range of identities, backgrounds, experiences, and perspectives. We are committed to creating an inclusive environment where everyone is valued and has equitable access to opportunities.

If you’re excited about this role but your experience doesn’t align perfectly with every requirement, we encourage you to apply — you may be exactly the candidate we’re looking for.

We welcome requests for reasonable adjustments at any stage of the recruitment process. Please speak with your Talent Acquisition contact to discuss your needs