DA Product Governance Specialist

CompanyGreat Lakes Insurance SELocationLondon, United KingdomAbout Great Lakes Insurance SE :As specialty provider of primary insurance services in the UK, Great Lakes London Branch (GLLB) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.Great Lakes Insurance UK Limited (GLLS), regulated by the Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.About the roleThe DA Product Governance Specialist will be part of a small team responsible for approving, monitoring and reviewing insurance products to ensure they fulfil regulatory obligations and provide good customer outcomes. They will be responsible for ensuring that the DA Product Team works closely with existing teams in the development, approval, monitoring and reviewing of products underwritten by Great Lakes. They will liaise with relevant stakeholders throughout the Great Lakes organisation to assist in the development and approval of new products and monitor products to ensure that they adhere to the respective regulatory frameworks and ensure that internal processes and documentation within the team also match requirements.Key ResponsibilitiesSupport the annual review schedule for all Great Lakes manufactured/co-manufactured products taking into account the regulatory demands in the UK.Organise the written report and the feedback to the various stakeholders arising from the review, document the feedback and monitor the outcomes of the review, ensuring that recommendations are achieved within the timeframes.Work with partners to develop new products, ensuring that we bring the necessary skillsets from the Underwriting and Products team to help with the approval and growth of products under the Great Lakes brandWork with the team to ensure that any new products and any changes to existing products follow the POG framework in order to be approved by the Global Underwriting and Product CommitteeMonitor the development of new and existing products to ensure they perform within the required metrics. Respond to any product related queries. Work with the Product Governance manager on the product reviews and report findings of product reviews to relevant Boards, Committees and Senior Management as required and track actions to completionHelp produce, and challenge, product governance metrics and MI and present these to relevant Boards, Committees and Senior Management as requiredHelp maintain and update all related conduct and compliance policies and support the testing, monitoring and challenge of relevant processes. Ensure internal stakeholders have an understanding of product governance requirements across the business and accomplish training when requiredManage the agent financial promotions referral process for UK AgentsCollaborate with colleagues across the Underwriting and Product team and beyond to support internal and regulatory oversight requirements. Keep informed of product-related changes in regulation and provide feedback to the product team/internal stakeholdersKey Skills and ExperienceStrong communication skills and ability to interact in Group project teams and cross-divisional project teams in a dynamic environmentPassion to strive for Great Lakes underwriting oversight goals together with a diverse set of stakeholdersStrong analytical abilities and organisational skills. Ideally, knowledge of Munich Re Group organisation.Understanding of the relevant regulatory regimes that impact Great Lakes businessPrevious review experience and/or underwriting or audit experience beneficial and experience in wordings and contracts would be usefulQualifications and Educational RequirementsUniversity degree or insurance qualificationsBusiness English essential and knowledge of a European second language beneficialThought LeadersYou are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.You will demonstrate and role model 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.Regulatory and Conduct RequirementsIn addition to the responsibilities set out above, the role will also become responsible for:Ensure compliance with FCA PROD 4 requirementsSatisfying all regulatory reporting requirements in collaboration with the reporting functionEnsuring compliance with Munich Re’s Code of Conduct and the FCA Conduct RulesYou 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 6 months family leave for times when you need it most.Diversity, Equity and InclusionAt 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.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 ..... full job details .....