DA Product Governance Manager

Company Great Lakes Insurance SE Location London, United Kingdom Together, we engage with everything we have and are, to help humankind act braver and better. About Great Lakes Insurance SE: As a 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 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 role: The DA Product Governance Manager will be part of a small team responsible for approving, monitoring, and reviewing insurance products to ensure they fulfill our 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, and monitoring of products underwritten by Great Lakes. They will liaise with relevant stakeholders throughout the Great Lakes organization to assist in the development and approval of new products and monitor products to ensure they adhere to the respective regulatory frameworks. Key Responsibilities: Support the annual review schedule for all Great Lakes manufactured/co-manufactured products taking into account the regulatory demands in the UK. Organize the written report and 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 stakeholders to develop new products, ensuring that we bring the necessary skillsets from the Underwriting and Products team to assist in the approval and growth of products under the Great Lakes brand. Ensure that any new products and significant changes to existing products adhere to the POG framework in order to be approved by the Global Underwriting and Product Committee. Monitor 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 completion. Assist in the production of, and challenge of, product governance metrics and MI and present these to relevant Boards, Committees, and Senior Management as required. Maintain and update all related conduct and compliance policies and support the testing, monitoring, and challenge of relevant processes. Ensure internal stakeholders have a solid understanding of product governance requirements across the business and carry out training as required. Manage the agent financial promotions referral process for UK Agents. Collaborate with colleagues across the Underwriting and Product team and beyond to deliver on internal and regulatory oversight requirements. Keep informed of product-related changes in regulation and provide feedback to the product team/internal stakeholders. Key Skills & Experience: Strong communication skills and ability to interact in Group project teams and cross-divisional project teams in a dynamic environment. Passion to strive for Great Lakes underwriting oversight goals together with a diverse set of stakeholders. Strong analytical abilities and organizational skills. Ideally, knowledge of Munich Re Group organization. Understanding of the relevant regulatory regimes that impact Great Lakes business. Previous review experience and/or underwriting or audit experience beneficial. Experience in wordings and contracts useful. Qualifications and Educational Requirements: University degree or insurance qualifications. Knowledge of a European second language beneficial. Regulatory & Conduct Requirements: Ensure compliance with FCA PROD 4 requirements. Satisfy all regulatory reporting requirements in collaboration with the reporting function. Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules. 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.

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