Title:  Senior Corporate Underwriter - Legal & Distribution (m/f/d)*

Corporate Underwriting’s Legal & Distribution Team ensures compliance with legal requirements in underwriting and quality of contract wordings in (re-)insurance transactions through guidelines (General Underwriting Guidelines and Line-of-Business specific Guidelines, Work Instructions and Alerts) and trainings, assists underwriting units with individual legal advice on underwriting specific topics (e.g. reputational risks, reinsurance and insurance law, insolvency law, compliance-related topics like Financial Sanctions or Data Protection law) and drives the development of tools to support an efficient wording analysis process. The team also assures quality of and advises in respect of transactions involving the delegation of (underwriting or other) authority to external parties and is also responsible for assessing reputational risks that could be associated with business activities.

It will be your job to define how Munich Re’s underwriting standards correctly translate into contract language, be it in corporate directives or through individual consulting to business units. You are part of various quality-assuring processes (e.g. large deal, ex-gratia, reputational risk, UW reviews). Your responsibilities will also include content support for the development and support of underwriting relevant IT tools (Wording Universe incl.Clause Library, MRef, GDD, Contract Repository and AI assisted wording tools).

We are looking for someone with strong legal skills who can maintain a fair balance between the demands of the operational business and the binding requirements that our business is subject to (legal, risk management, organizational). In addition to professional experience, the position requires particularly strong technical guidance skills, a willingness to take on responsibility, and a high degree of decisiveness. These skills are an essential prerequisite for filling this responsible and demanding position.

Your Job

• Representation of Corporate Underwriting in legal and underwriting matters, incl. contact with central units such as Compliance, Group Legal, ESP, Integrated Risk Management
• Representation of Corporate Underwriting in executive committee and board meetings and in projects
• Development and implantation of Munich Re’s underwriting guidelines for all classes of business and for general, non-LoB-specific underwriting topics
• Regular review of underwriting guidelines and ad-hoc issuance of Underwriting-alerts in reaction to external developments
• Assisting the automation of Undwriting process and support in the development and maintenance of wording-related underwriting tools and their implementation
• Assurance of the wording quality of re-/insurance contracts via underwriting reviews and by providing the risk management statement to the Global Underwriting & Risk Committe/Reinsurance Committe or the Head of Corporate Underwriting for any deviations from mandatory underwriting guidelines
• Assessing reputational risks that may be associated with business activities and supporting our activities in the Reputational Risk Committee  
• Monitoring of external developments relating to ESG criteria and other sensitive topics (like Financial Sanctions) to ensure a pro-active development of Munich Re opinions
• Advising colleagues from all lines of business  in their business-related legal and underwriting challenges
• Supporting the Corporate Underwriting-Management in coping with new or changing strategic problems  together with other (Corporate Underwriting) units
• Providing and coordinating Underwriting trainings with respect to selected Underwriting topics together with colleagues from Corporate Underwriting and the Business Units
• Taking part in Underwriting Reviews as a subject matter expert for contract clauses or specific topics
• Supporting the Wording Expert Group with focus on selected topics
• External representation of Munich Re’s legal expertise and risk appetite towards clients, brokers and insurance associations, especially to bodies like the LMA or NMA developing global standards for insurance and reinsurance wording language.

Your Profile

• Qualified lawyer (2nd state examination or equivalent university degree)
• Extensive experience with underwriting-related topics and in-depth knowledge of Property and Casualty (Re-)Insurance, ideally also in other lines of business.
• Very good knowledge of the relevant topics (reinsurance law, reinsurance contract systematics, exclusion languages, etc.) 
• Extraordinary ability to abstract and communicate difficult legal topics to various target groups across all management levels
• Strong analytical, problem-solving and technical guidance skills
• High degree of decisiveness and willingness to take on responsibility
• Initiative and creativity in the further development of the topics
• Confident and authoritative appearance, assertiveness and ability to deal with conflicts
• Fluent in English, ideally also in German

Application Instructions

In order to consider your application, we require your application to be submitted via our online applicant portal. In addition to uploading your CV, we recommend writing a cover letter to tell us more about why the position is of interest to you.

About us

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel. 

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified. 

Münchener Rückversicherungs-Gesellschaft
David Brengelmann | HR Consultant