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Operational Resilience & Vendor Management Specialist
Munich RE
Full-time
Manchester, GB-MAN, GBR
2h ago
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.
Operational Resilience & Vendor Management Specialist
We are looking for an Operational Resilience & Vendor Management Specialist to join our team in our Manchester Office on a full-time basis with hybrid working of 2-3 days per week.
The Operational Resilience & Vendor Management Specialist will play a key role in the oversight, management, operation, and evolution of the Operational Resilience and Third Party Vendor Management functions.
Deputising for the Operational Resilience Manager and Third Party Vendor Manager across all relevant 1st Line of Defence topics managed by the Operations Management team around business continuity management, operational resilience, third party vendor management, and outsourcing oversight as well as emergency management.
You will support the effective operation and continuous improvement of Operational Resilience and Third Party Vendor Management ensuring effective operational delivery and regulatory compliance, third-party due diligence, and ongoing monitoring.
The role has a strong focus on operational resilience & third party vendor management reporting, incident reporting, Board, Executive, and regulatory documentation, policy reviews, and regulatory awareness.
You'll collaborate, communicate, and engage with all stakeholders internal and external that have material relevance to Operational Resilience and Third Party Vendor Management ensuring we are abreast of current or up and coming (horizon scanning) regulatory topics.
Responsibilities
- Drafting incident summaries, root cause analysis, lessons learned, and remediation plans as well as tracking actions, vulnerabilities, and support escalations to governance forums.
- Business Continuity Planning (BCP) and alignment with Operational Resilience frameworks.
- Annual reviews including self-assessments and updating plans.
- Ensure resilience documentation reflects current processes, people, systems, and third party dependencies.
- Conducting impact analyses and identifying critical business services.
- Assess operational impacts, tolerances, and time-critical activities.
- Evaluate third-party resilience including assessments of vendors’ resilience capabilities & ensuring contractual resilience obligations are adhered to and evidenced.
- Develop, maintain, and own the incident reporting process which is introduced through the PRA/FCA regulation around Operational Incident Reporting (PRA SS1/26)
- Monitoring of important third-party arrangements, SLA performance, & KPIs.
- Onboarding and lifecycle management of vendors including contract reviews.
- Third-party arrangement inventory & systems records additions & updates.
- Contract assessment & remediation support.
- Regulatory compliance assessments, validation, and submission preparation support.
- Annual reviews and updates to plans.
- Draft, Review, develop, and maintain including the regular review cycle of relevant policies, regulatory submissions, guidelines, and procedures managed by the 1st line of defense e.g. Operational Resilience Policy, Business Continuity Plan, Wind Down Plans, Third Party Risk policies, and other related documentation ensuring alignment with Munich Re Frameworks and regulatory requirements from governing bodies (e.g. Lloyd’s, FCA & PRA).
- Monitor regulatory developments (FCA, PRA, Lloyd’s) and conduct any necessary impact assessments
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Knowledge And Skills
- Must have experience working in Operational Resilience or Third Party Vendor/Risk Management within a regulated environment.
- Strong understanding of Operational Resilience, Outsourcing, Vendor Management & Business continuity regulation (Lloyd’s, FCA, and PRA).
- Experience in the insurance industry and in particular for a candidate with an understanding of regulatory standards for insurance.
- Must have excellent report writing skills, experience of preparing reports, policies, and presentations for senior management / committee or board review.
- Must have ability to appropriately question, support, and challenge the business at all levels and present considered and balanced opinions, findings, and recommendations.
- Should be focused on completing activities, pragmatic solutions-oriented, and be conscientious with developing collaborative relationships with stakeholders.
- Proven experience achieving results in a multifunctional and inclusive international environment with a culture of be present, be bold, and be curious.
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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!
Diversity, Equity & Inclusion
At 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 recognize 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.
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.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social, and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- Critical illness insurance + Life Assurance + Permanent Health Insurance
- Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility
- Electric Vehicle Salary Sacrifice Scheme
- Study & continuing Professional Development Support
- Hybrid Working + IT Home Set-up Support
#BePresent #BeBold #BeCurious
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