Risk Manager

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.

PURPOSE OF THE ROLE

The Risk Manager will support the Head of Coverholder Management in the design, enhancement and implementation of the MRS-NA BA’s Risk Management framework. This role will involve regular interaction with all of the Senior leadership team.

The Risk Manager will work collaboratively with the Company’s Management team to lead the management of MRS-NA BA’s risk appetite and framework under its delegated authority business model, providing guidance, oversight and challenge on financial and operational risk issues, together with development of key risk mitigation strategies, controls and assessments.

The Risk Manager will maintain strong relationships with MRS-NA BA  (including B&C Inc.), MRAS, GSI and it’s entities and divisions and Munich Re Group Risk Management functions, ensuring MRS-NA BA’s compliance with MRS-NA BA/Munich Re’s risk management framework and also aligns with other GSI IRM functions to achieve a common risk assessment framework. The Risk Manager will also be a key member of MRS-NA BAs RMCS department.

This role requires regulatory approval to perform the SMF 4 function.

QUALIFICATIONS AND EXPERIENCE

• Membership of an appropriate professional body preferred.
• At least few years’ experience showing consistent achievement of corporate targets, excellent business appreciation and sound understanding of risk management methodologies.

DUTIES AND RESPONSIBILITIES

• Be responsible for the company’s Risk Register, including reporting to the appropriate committees or Boards.
• To implement and oversee the Third Party Risk Management process within MRS-NA BA.
• Support, effectively challenge, and ensure risk owners annually complete Risk Control Self Assessment (RCSA) returns in alignment with Munich Re Group Operational Risk Control System (ORCS).
• Support the senior management team to ensure the Company’s risk appetite, control framework and policies under its delegated authority business model are clearly documented, communicated and adhered to.
• To report on risk related topics to the appropriate MRS-NA BA Committees and Boards.
• Prepare the Quarterly Risk Report for review by the B&C Executive and Statutory Boards.
• Act as an internal risk management subject matter expert and develop organisational capability around risk governance.
• Work closely with the RMCS department to support the Compliance Plan and aide identification of emerging risks as a result of compliance or regulatory changes.
• Regular monitoring and updating of all internal risk policies, including Munich Re Norms.
• Monitor and review operational risk exposures, events, business and IT incidents ensuring such cases are reported timely and appropriately escalated. Support the business in development and implementation of appropriate risk controls to mitigate such incidents.
• Provide input into the Annual Internal Audit Programme in conjunction with the CRCLO.
• Provide second line oversight and support to business operations in relation to the Company’s Business Continuity Management policy and procedures.
• Actively engage with the Project Managers in IT SSO to assist them with the identification of risks on those projects which will affect significant changes to the Company’s operating processes or position.
• Proactively horizon scan and monitor emerging risks to which the Company may become exposed in order that management can be timely alerted to take action.
• Promote risk culture and awareness through education of key staff on risk management and  MRS-NA BA/Munich Re risk management practices.
• Provide support and training to business units on risk matters as required.
• Communicate with external stakeholders (auditors etc.) on risk management topics as necessary.

GENERAL DUTIES AND RESPONSIBILITIES

• To embrace and actively implement the core principles of Continuous Conversation; (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 settings of commitments and giving and receiving frequent, constructive feedback (referring to resources provided for support);
• To abide by the policies and procedures of MRS-NA BA.

RELATIONSHIP MANAGEMENT

• To provide a highly professional service to stakeholders.
• Support the Company’s US business and engender good relationships with internal and external stakeholders at all levels through competent and professional service.

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.

Please note application closing date : 15th May 2026