Munich Re Specialty - Global Markets, Syndicate
Head of Capital
How your CV stacks up
Upload your CV to see how well it fits this job role
?%
Head of Capital
Head of Capital at Munich Re Specialty – Global Markets (MRS-GM)
At Munich Re Specialty – Global Markets (MRS-GM), we are dedicated to becoming the leading Primary Specialty Insurance provider. Underpinned by strategic adaptability, superior products, and a supportive, curiosity-driven culture, we empower colleagues to achieve their professional goals alongside collective success.
About the Role
You will lead the Capital Team for MRSL and MRSG, overseeing the operation, modelling, and development of the Internal Model (IM). Your leadership will shape key decision-making processes, including capital planning, reinsurance strategy, and wider risk management. As the first point of contact for all capital-related matters, you will foster strong relationships with stakeholders across Reinsurance, Underwriting, Risk, Reserving, Business Planning, and Finance.
Responsibilities
-
Leadership & Management:
- Lead the Capital Team, providing strategic oversight, resource planning, staff development, and training.
- Maintain clear communication with key stakeholders, including the Chair of the Risk & Capital Committee (R&CC), CRO (Chief Risk Officer), CEO, and Munich Re IRM, to ensure alignment and buy-in on capital positions.
-
Internal Model (IM) Governance:
- Develop, maintain, and parameterise the actuarial components of the IM, ensuring accuracy, compliance with regulatory requirements, and robust reporting.
- Produce regulatory and internal reports (e.g., SCR, ORSA, PRA, AoC, SBF, LCM, 1-in-30 AEPs) on agreed timelines (5 days for R&CC, 3 days for R&CC SG, and internal actuarial review).
Reasons to use Rodeo
Start with a chat, not a search bar
Grad scheme, placement, apprenticeship? Not sure what you want yet — that's fine. Your agent talks it through with you and turns "I have no idea" into a shortlist.
It searches the market for you
Every day your agent scans the market matching roles against what actually matters to you, not just keywords on a CV.
Only hits
No noise. No "maybe this fits." Just roles with a clear explanation of why they're right — and where to focus when applying.
-
Stakeholder Collaboration:
- Work closely with Underwriting, Claims, Reinsurance, Pricing, and Reserving to explain model outputs, inputs, and decision rationale, securing alignment on key parameters.
- Participate in R&CC, R&CC SG, and RISG meetings; attend CALM or LMAG as required.
- Potential escalation to ownership of UVM (Unknown Loss Variations Model), expanding its application across Global Specialty Insurance (GSI) entities.
-
Reserve & Compliance Oversight:
- Conduct annual peer reviews of best-estimate reserves to ensure consistency with IM assumptions and market reasonableness.
-
Model Documentation & Validation:
- Maintain comprehensive model documentation, change logs, and outputrecords to support validation processes.
Requirements
Knowledge & Experience
- In-depth knowledge of Lloyd’s capital processes and regulatory requirements (priority).
- Proven track record in capital modelling (minimum 3 years in a senior role).
- Proficient with Tyche (Munich Re’s IM platform).
- Experience leading and managing a team of 3+ staff.
- Demonstrated ability to present to executive/Board-level stakeholders (termed-of experience).
- University degree/commercial degree or relevant professional actuarial/financial qualification.
Get help with your application
Your very own career expert that helps elevate your application to the next level.
Diversity & Inclusion
Munich Re fosters a diverse, equitable, and inclusive environment where all backgrounds are valued. We actively seek candidates from underrepresented groups and provide reasonable recruitment accommodations.
Why Join Us?
Benefits
- 25 days’ annual leave (plus bank holidays).
- 10% non-contributory pension.
- Eligibility for annual bonus.
- Comprehensive insurance covers (private medical, dental, critical illness, life assurance, and permanent health insurance).
- Wellbeing & development (EAP, health assessments, growth schemes).
- Study support & professional development funding.
- Flexible hybrid working + home IT setup.
- Electric vehicle salary sacrifice scheme.
Culture & Vision
- #BePresent #BeBold #BeCurious – a culture that encourages innovation and bold thinking.
- Commitment to ESG: Alignment with sustainable societies & business practices, community initiatives, and volunteer opportunities.
Ready to make an impact? Apply even if your experience aligns partially—your unique perspective could be exactly what we need!
(Application considerations include reasonable adjustments at any stage.)
“It took my CV and asked me questions relevant to understanding what kind of jobs to suggest for me. Suggestions were almost perfect. Jobs were exactly what I’ve been looking for.”
Jessica, London
Skills
Location