Senior Risk Analyst

We are looking for a Senior Risk Analyst to join our team in the London City or Manchester Office on a full‑time basis with hybrid working of 2‑3 days per week.

You will support the Risk Manager in the development, implementation and embedding of a comprehensive and proportionate risk management framework and risk culture, ensuring compliance with Munich Re, PRA, FCA and Lloyd’s risk management requirements.

Responsibilities

• Support development of the risk management framework, adopting Group policies and guidelines.
• Assist in managing and escalating risk events/issues to relevant senior stakeholders and governance bodies.
• Oversee the risk event process and maintain the MRSG Risk Event Log and related reporting.
• Monitor risks and controls, identifying top/emerging risks and assessing control effectiveness, including:
• Maintain entity risk registers and facilitate regular assessments.
• Support design/monitoring of risk appetite measures and RAG thresholds.
• Collaborate with business to ensure key controls are in place and effective.
• Recommend actions to reduce exposures and meet risk appetite.
• Support risk reporting to governance bodies (ExCo, Boards), including regular/ad‑hoc reporting.
• Conduct thematic reviews, lessons learned, and 2nd line risk reviews on projects, emerging risks, or third‑party arrangements. Examples include:
• Review MRSL against Lloyd’s Fundamental Principles.
• Contribute to ORCS and internal model validation (e.g. operational risk parameterisation).
• Support outsourcing risk reporting.
• Help deliver the annual risk plan and flag deviations where needed.
• Deliver risk training and awareness sessions.
• Provide ad hoc support across risk department activities.
• Promote a strong risk culture across the business.
• Continuously review and improve the risk management framework.
• Support positive conduct and outcomes for customers/policyholders.

Knowledge and Skills

• Strong understanding of general and Lloyd’s insurance markets.
• Confident in challenging all levels of the business with well‑reasoned risk opinions.
• Knowledge of Solvency II and Lloyd’s regulations is an advantage.
• Deadline‑driven, pragmatic, and collaborative.
• Strong resilience and ability to navigate through change and a dynamic operating environment.
• Should have broad understanding of the current risk management environment and awareness of key developments in risk management best practice, including providing thought leadership in specific areas.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.

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.

Learning and innovating today, striving for sustainable societies and business tomorrow. At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

#BePresent #BeBold #BeCurious