Job Description

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch:

With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.

At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.

In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role:

The Assistant Longevity Client Manager, which forms part of the longevity pillar within the UK & Ireland Life strategy, is responsible for supporting effective operational contract management in a rapidly growing longevity portfolio, covering selected UK and Dutch business from a range of clients.

As part of a small team, they will work alongside client managers and actuarial colleagues and will be responsible for supporting a range of activities, including new deal executions, transitioning the deal to “BAU”, audits and other ad-hoc requests.

This is a hybrid role requiring at least 2 day per week in the London office.

Key Responsibilities:

The Assistant Longevity Client Manager is responsible for supporting the Head of In Force and the wider longevity team with the operational management of the in force longevity portfolio; this includes:

Deal origination & development - 20%

• Support new Longevity transaction due diligence exercises.
• Assist with execution tasks in respect of new Longevity transactions.
• Complete all post execution requirements, including record keeping.

In Force Longevity Deal & Client Management – 60%

• Support the Longevity Client Managers in the management of existing Longevity treaties, including the transition from deal execution to onboarding the client.
• Manage selected smaller existing Longevity treaties to build experience.
• Liaise with relevant internal/external stakeholders to manage client deliverables, ensuring all contractual obligations are met and escalate issues where required.
• Assist in various tasks such as client audits, true ups and annual reviews.
• Support our business relationship with existing clients.
• Ensure record keeping and governance requirements are kept up to date at all times.
• Assist with collateral management activities, including support of valuation, settlement and operational processes.

General Longevity Team Support – 20%

• Assist with a variety of Longevity projects and work streams.
• Co-ordinate and provide ideas for client hospitality events to help strengthen key relationships.
• Support the promotion of Longevity within the UK office and wider Munich Re Group, including aiding the development of the UK’s position as the centre of excellence for Longevity.
• Work in conjunction with the other Munich Re and UK Life Branch teams to coordinate & facilitate internal processes and controls.

Plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role.

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Essential

• Excellent communication skills
• Project co-ordination skills
• Ability to prioritise various tasks
• Organisational skills in order to meet deadlines and manage client expectations
• Ability to produce high quality written material
• Advanced excel skills

Desirable

Any of the following:

• Experience working in Life, Health and Disability insurance related fields
• Life Reinsurance experience
• Pensions and / or Longevity experience
• Project management skills

Thought Leaders:

• You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
• You will treat your colleagues and sales and business partners fairly and with respect.
• You have the ability to analyse information, identify issues and propose practical solutions.
• You will build effective working relationships with clients and internal stakeholders.

Regulatory & Conduct Requirements:

• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.

Diversity Equity & Inclusion

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

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.