Claims Risk Governance & Control Mgr

Company



Munich Re America



Location



Princeton
, United States

We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead.

The Claims Risk Governance & Control Manager manages the Governance for Reinsurance North American (RINA) Claims and partners with the Global Claims Governance to assure compliance with the Global Claims Guidelines including assurance that all RINA Claims professional perform within delegate authority. Monitor, analyze and modify as warranted all MRAm systems and financial, claims, actuarial and other corporate reports.

This position provides quality control and risk assessment not only to Reinsurance North American Claims but also to Reinsurance Accounting(RIA). Quality Assurance (QA) controls maintenance and accurate record keeping are essential in this role as it is the main contact for E&Y, state, and internal auditors to assure our regulatory compliance and efficacy of our claim controls on a continuous daily, weekly, monthly and quarterly basis. Lead and coordinate the annual cycle of activities including updates and revision to Operational Risk Control System (ORCS).

Requires independent assessment of Claim's risk, ability to create controls, and develop mitigations as appropriate. Assess opportunities to leverage talents to provide additional services more broadly within the Global Claims organization. Oversee MRUS Claims Business Continuity Management (BCM) process. Position is required to independently assess risk and develop mitigations as appropriate.

Responsibilities

• Lead and participate in the annual cycle of the RCA Risk Control Assessment, ORCS Operational Risk Control System, Sarbanes Oxley (federal regulation) compliance, development, monitoring and modifying of quality assurance controls.

• Lead engagement with Integrated Risk Management (IRM) regarding Claims Risk Control mitigation and OpRisk Events.

• Manages RINA Claims audit functions with external auditors such Ernst & Young and the State of Delaware; as well as Internal Audit. This position is the main contact, responding on all requests and providing understanding of our claim processes, procedures & controls.

• Evaluates and modifies Claim's risk assessments, risks and recommend risk mitigation strategies to reflect new systems and changing impacting claims. Manages the regular and ad hoc risk assessments to ensure Quality Assurance review and updates for Claims and Claims Handling including control testing and monitoring and completed on schedule. Seeking support as needed.

• Represent and evaluate RINA Claims position in reviewing the Global Claims guidelines to ensure they reflect our local requirements.

• Complete and enhance required reviews and provide Lessons Learned Analyses as requested by management.

• Manage changes to global and local data sources and proactively seek the best outcomes for the Claims organization.

• Oversee MRUS Claims Business Continuity Management (BCM) process & activities. Stay current on BCM best practices and implement required changes in MRAm RI NA Claims plan.

Qualifications

• Bachelor degree in Accounting, Economics, Finance, Actuarial Science, or Risk Management

• 10 years reinsurance/insurance experience within multiple disciplines, which can include auditing, accounting, underwriting, risk management, finance.

• Knowledge of Claims Industry Best Practices especially in the areas of Risk Governance, and Operational Risk.

• Strong interpersonal skills and ability to translate business knowledge into critical risk assessment.

• Analytical skills and experience in extracting and manipulating data for the purposes of analysis.

• Project Management Skills: Excels in taking initiative, prioritizing, and working independently to meet deadlines.

• Business Knowledge: Demonstrates knowledge of how Claims creates and delivers value for its clients and employees. Maintains and demonstrates proficiency on all current functional trends and best practices.

• Client Relationships: Establishes and maintains relationships with internal and external clients based on trust, respect, and an understanding of client needs. Responds to clients' needs by providing value-added solutions.

• Communication Skills: Clearly and concisely verbally and in writing using appropriate language and examples. Actively listens to others to ensure understanding of issues.

• Influence: Drives decisions, projects, and processes without formal authority

• Agility: Identifies and initiates necessary changes and applies them, bearing in mind overall implication, promoting adaptability and sustainability.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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