Longevity Client Manager

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch:

With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.

At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role:

The Longevity Client Manager / Longevity Operations Specialist, which forms part of the longevity pillar within the UK & Ireland Life strategy, is responsible for ensuring effective operational contract management and exemplary client management in a rapidly growing longevity portfolio, covering selected UK and Dutch business from a range of clients.

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Essential

• Excellent verbal and written communication skills
• Exceptional organisational and time management skills
• Ability to prioritise, plan and manage multiple tasks concurrently
• Experience in Pensions, Longevity or Reinsurance Operations
• Ability to produce high-quality written material (e.g. reports, presentations, and stakeholder communications)

Desirable

• Relationship management experience
• Demonstrable ability to review, interpret and summarise complex legal documentation
• Advanced Microsoft Excel skills (e.g. PivotTables, lookups, and data analysis)
• Project management expertise

As part of a small team of Longevity Client Managers / Longevity Operations Specialists, they will work alongside actuarial colleagues and will be responsible for range of activities, including supporting new deal executions, transitioning the deal to “BAU”, conducting audits, managing ad-hoc requests and leading on complex projects.

Key Responsibilities:

The Longevity Client Manager / Longevity Operations Specialist is responsible for supporting the Head of In Force and the wider longevity team with the operational management of the in force longevity portfolio; this includes:

Deal Executions – 20%

• Providing project management oversight for new deal executions, adhering to internal approvals processes and delivering associated workstreams.
• Negotiating and agreeing operational aspects of new deals, ensuring the contractual operations are scalable.
• Leading new deal due diligence exercises, including producing relevant reports.

Deal & Client Management – 70%

Manage selected existing longevity contracts, including:

• Leading and strengthening our business relationship with specific existing clients.
• Working with the client and internal teams to ensure timely transition from execution to business-as-usual.
• Overseeing the delivery of various business-as-usual and ad-hoc elements of existing longevity transactions.
• Leading audit activity for existing deals, including producing the relevant reports.
• Assessing changes to existing contractual terms, balancing client needs with managing the risk to the business, and managing any associated contract addendums through to execution.
• Liaising with relevant stakeholders internally and externally to ensure all aspects of the deal are understood and managed in line with our risk appetite and guidelines.
• Managing deadlines and deliverables and escalating issues as appropriate.

General Longevity Team Support – 10%

• Project managing a variety of longevity projects and agreed work streams.
• Producing reports and presentations as required.
• Supporting the promotion of Longevity within the UK office and wider Munich Re Group including aiding the development the UK’s Longevity centre of competence proposition.

Plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role.

Thought Leaders:

• You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.
• You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
• You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits:

  You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

  We are one of the few employers to offer fully paid  6months family leave for times when you need it the most. 

Diversity Equity & Inclusion

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.