2nd VP Vice President & Actuary, Enterprise Risk Management

Munich Re North America Life & Health has a dedicated Enterprise Risk Management (ERM) organization with the objective to control financial and non-financial risks, in order to enable an efficient allocation of capital, profitable growth and predictability in business results. This unit is responsible for ERM at the life reinsurance operations in Canada (MLMC), the US (MARC) and Bermuda (MRoB). The 2nd VP of ERM Business Risk will oversee the development, implementation and monitoring of an enterprise wide integrated risk management infrastructure, analysis methodology and reporting process for the life reinsurance operations in Canada (MLMC), US (MARC), and Bermuda (MROB), with focus on financial (aka Business) risks. The 2nd VP of ERM Business Risk will report to the CRO of Munich Re North America Life & Health. People Management Oversee, manage and direct all aspects of the Risk Management team responsible for managing Business Risk; Direct the personal development of direct reports; Risk Management Within the general framework specified by Munich Re Munich, build and enhance a risk management infrastructure to identify, analyse, quantify, monitor and mitigate all risks defined in the Munich Re risk management framework, ensuring sufficient analytical tools, processes and systems are in place to support the risk management framework. The financial risks defined are: underwriting (insurance/biometric) risk, market risk, credit risk, liquidity risk, and concentration risk. Work with Integrated Risk Management in Munich and Biometric Research, Pricing, Actuarial and Finance staff within MARC to further refine the Economic Risk Capital (ERC) model; Identify, quantify and communicate within the Munich Re organization key risk exposures for in force and new business, and raise overall awareness of risk. Suggest measures to improve risk / return profile where appropriate; Evaluate new products / business proposals, including M&A activities, from a risk management perspective, with the objective to ensure they are within the MR North America risk appetite; Coordinate and contribute to the continuous development and implementation of the risk management framework. Drive the implementation of a Solvency II compliant internal risk management framework in cooperation with Munich Re Home Office; Keep CRO of North America (Life & Health) informed regarding all major risk management items and raise approvals as appropriate; Authorize and approve all quotes that are escalated for approval; Business Development Analyse new business opportunities to assess if the risk / return characteristics are within the MR NA risk appetite and likely to contribute to profitable growth, taking into account all risk dimensions, including operational, business and reputational risk; Work closely with CU Life to ensure pricing of large transactions subject to Home Office referral are within Munich Re's global guidelines; Influence the marketplace's perception of the importance of risk management, including operational risk and data management, by visiting MARC clients with business heads and representing MARC at industry meeting through speaking engagements; Coordinate meetings and develop presentations for external parties such as rating agencies, investors, regulators, working with the MARC business heads and Investor Relations in Munich; Participate in, and lead as appropriate, North American industry groups that focus on ERM; Qualifications A creative, quantitatively strong FSA with at least 10 years of experience in a variety of risk management related positions, covering a combination of life, market, credit, operational risk expertise; An understanding of market and credit risk associated with both assets and insurance liabilities; Extensive experience in life (re)insurance; Extensive expertise of IFRS, US GAAP / Statutory accounting, Canadian GAAP / Statutory accounting, or demonstrated ability to pick up accounting concepts quickly; Strong personality and ability to influence people, with excellent written and verbal communication skills; Excellent analytical and abstract reasoning skills, plus excellent organization skills; Keen strategic thinking, business acumen, and problem solving skills; Ability to influence decision makers regarding risk management and business strategy; Demonstrate high performance leadership in managing a small team of highly qualified professionals and in managing cross organization projects; Build talented staff to enable them to grow into leadership and / or expert positions. #J-18808-Ljbffr Munich Re