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Associate Wordings & DA Product Manager

Location Munich, Germany Date posted 09/26/2025 Job type Full-Time Work mode Hybrid Job level Graduate & Entry-Level Job ID 9090 Company Great Lakes Insurance SE Employment type Regular Area of expertise Audit, Compliance & Legal
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Together, we engage with everything we have and are, to help humankind act braver and better. 

About 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 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. 

The Role
We are looking for someone to work with the team to ensure that any new products and significant changes to existing products adhere to the POG framework in order to be approved by the Global Product and Underwriting Committee. Collaborate with colleagues within the Product team and beyond in order to deliver on internal and regulatory oversight requirements. Review our new and existing wordings and those of our competitors, including analysis and explanation of individual clauses through to complete product wordings and act as a technical reference point for wordings related queries.  Proactively manage and undertake policy wording development and control, working closely with key stakeholders to build new insurance products or refine or expand existing products, with a focus on MGA Business, ensuring our wordings are robust while being easily understood by our customers and reflect the appropriate coverage intent during product design. 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. Maintain and improve the wording oversight checklists and processes in cooperation with the wording manager. 

Key Responsibilities:  

  • Ensure that wordings meet the legal, regulatory and internal guidelines and are kept up to date with any necessary changes both within the U.K. and Europe.

  • Work with external law firms to ensure product wording is appropriate for countries where there are limited internal language capabilities. 

  • Support the annual reviews for European products, including feedback to the agents, reports and monitoring of the outcomes. 

  • Manage the marketing and financial promotions process and develop the process for European agents. 

  • Collaborate with key stakeholders on internal and regulatory oversight requirements. Analyse and feedback on key regulatory development and the impacts on products.

  • Manage the centralised wordings repository and consider the potential options for a future wordings library.

  • Work closely with the Product Team to ensure effectively collaboration with all stakeholder in the product process. 

  • Work closely with the Legal department and other wording experts within the wider Munich Re Group. 

Competencies: 

Nimble learning (we think big) – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.  

Collaborates (we lead the ‘we’) – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.  

Optimises work processes (we grow with our clients) – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved. 

Resourcefulness (we care and dare) – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value. 

Communicates effectively (we are clear and authentic) – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way. 

Key Skills & Experience: 

Essential

•University degree or insurance qualifications;

•primary insurance wordings and regulatory experience

•knowledge of various regulatory frameworks such as EIOPA and FCA PROD rules.

Desirable

•Understanding of European regulatory regime

•knowledge of the pricing best practice for personal and commercial lines products

•Fluency in German and/or another European language

Personal attributes:

•Strong legal and organisational skills.

•Strong interpersonal skills, great teammate and highly motivated

•Excellent communication skills.

•“Can do” demeanour with a solutions focussed approach.

Thought Leaders: 

You will demonstrate 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 & Conduct Requirements: 

In addition to the responsibilities set out above, the role/function will also become responsible for: 

  • Ensure compliance with Insurance Distribution Directive  

  • Satisfying all regulatory reporting requirements in collaboration with the reporting function 

  • Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules 

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 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 contact.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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