Delegated Authority Auditor (m/f/d)*

Company
Great Lakes Insurance SE
Location
Munich , Germany

As a specialty provider of primary insurance services, Great Lakes Insurance SE (GLISE) is an integral part of Munich Re Group closely connected to Munich Re’s reinsurance core business.

The Delegated Authority Auditor is a member of the Delegated Authority Audit and Assurance Team who are a shared service for all of Great Lakes. The role will support the Delegated Authority Audit function by assisting with a range of audits, predominantly within the EU.

The job holder will collaboratively work with the Delegated Authority Audit team who provide independent, unbiased reasonable assurance that Outsourced Service Providers (OSPs) are complying with contractual and regulatory requirements, laws, and best practice.

The role includes organising and completing delegated authority oversight and control audits of Great Lakes OSPs.  These audits will cover Company Operations, Policy Sales and Underwriting, Claims Management, Product Governance, Compliance including Consumer Duty and Conduct Risk, Complaints Management, Finance, IT and other areas from a regulatory and contractual wording lens. The role will include audit preparation, on-site fieldwork, testing, drafting reports and tracking and analysis of audit findings. The aim is to assess the adequacy of systems and controls and adherence to agreed procedures in order to minimise the risk and exposure to Great Lakes and its policy holders.

Work will be carried out at various locations throughout Europe and the UK depending on the location of the OSP.

Your Job

• To support the planning, organising and completion of  audits both onsite and remotely as directed by the Head of DA Audit & Assurance, this may include travel and opportunities for limited overseas travel.
• Reporting of suggested audit recommendations monitoring the OSPs  response and implementation.
• Preparation and delivery of audit reports.
• To maintain the Audit system in accordance with the guidelines set.
• Identify and record regulatory and/or contract breaches found during audit and report these to the Head of DA Audit & Assurance.
• Escalate overdue audit findings and support the aim to reduce and avoid findings becoming overdue to the DA Assurance Manager and Head of DA Audit & Assurance.
• Working alongside other business units or external resources on specialist ad hoc audit projects where required.
• Provide support to colleagues or other business units or external resources for ad hoc requests, or longer-term projects in carrying out the Great Lakes strategy as requested.

Your Profile

• Understanding of MGA and TPA operations
• Experience in Audit and/or oversight and control
• Knowledge of legal contracts and multi-country insurance regulation
• Knowledge of regulatory environments
• Strong report writing skills
• Strong analytical skills<span 72=""> and very good organisational skills
• Strong interpersonal skills, team player and highly motivated, always prepared to share knowledge
• Excellent written and verbal communication in English, other European languages are a plus

 

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
Laura Fuchs • HR Consultant
Königinstraße 107 • 80802 München • GERMANY