Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Senior Risk Manager

Location Munich, Germany Date posted 09/29/2025 Job type Full-Time Work mode Hybrid Job level Professional Job ID 8038 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
Apply Now

About the LH1 Madrid Hub (LH1 MAD):

Together with the Hubs in Munich and London, LH1 MAD forms the Life and Health 1 division of Munich Re, LH1 MAD aims to become an increasingly relevant player in the generation of new business for Munich Re through its initiatives in Southern Europe and Latin America, while maintaining its stable and profitable portfolio in the region.

To achieve its ambition, LH1 Madrid has focused its growth strategy on scaling the traditional Protection business in Life and Health, shaping it via Business Transformation (Automated UW, B2B2C Cooperation Models, and Product Development), and expanding its Financial Reinsurance solutions across the region.

The Risk and Pricing department based in Madrid is responsible for providing LH1 MAD with best-in-class actuarial and risk management services, ensuring the Hub’s rapid growth occurs sustainably and in line with the Group’s underwriting guidelines

About the role:The Senior Risk Manager works closely alongside colleagues in LH1 MAD, the LH1 Risk Management team, and within Munich central functions in strengthening the LH1 Madrid’s Actuarial and Enterprise Risk Management capabilities.

In addition to this, they will support the ongoing production of internal reports required, such as the Annual Risk Report, Risk Assessment Cycle and ICS analysis.

LH1 MAD has a regional responsibility along the Southern Europe (Spain, Portugal, Italy, and Malta) and Latin America, with close contact with the offices of MR in Milán, Malta, Sao Paulo, Bogota and Mexico City. This responsibility encompasses all Life and Health Protection and Financial Reinsurance contracts. The collaboration with Non-Life is relevant as all MR offices operate under the one-roof concept, especially with the local compliance officers, but RM is not responsible for the compliance processes. 

The position will be based in Madrid.

Key Responsibilities:

 Actuarial Risk Management

  • Review of large and complex transactions, especially with respect to financial, operational, legal and reputational risk, in line with the defined risk appetite.
  • Review changes to pricing bases, product designs and pricing tools
  • Working collaboratively with other LH1 Risk Management units on projects and reviews

Enterprise Risk Management

  • Risk reporting to LH1 CRO, LH1 MAD management and central functions
  • Internal business governance activity within LH1 MAD
  • Delivery of the operational risk management framework
  • Review and assessment of other risk types e.g. market, credit, reputation, concentration, liquidity etc.
  • Second line treaty wording review 

General Risk Management

  • Support the LH1 Madrid to write and maintain profitable commercial business and innovation initiatives, in line with the business strategy and risk appetite, acting as a Business/Risk Partner
  • Promote Risk Management principles, develop the LH1 Madrid risk strategy, and communicate and raise awareness of Risk Management within the region
  • Maintain and improve the LH1 Madrid risk management framework, policies and processes
  • Develop the LH1 Madrid risk strategy and appetite including product limits, striking the balance between risk guidelines and commercial demands
  • Periodically represent Risk Management in special initiatives (e.g. product developments and business improvements)
  • Be a point of reference for the business for guidelines and control processes

Competencies:

  • Commercial awareness and pragmatism
  • Perseverance, focus, ambition
  • Questioning nature / intellectual curiosity
  • Diplomacy and tact
  • Self-awareness, ability to act on constructive feedback
  • Flexible working style
  • Very good English proficiency, Spanish would be a plus.

Key Skills & Experience:

Essential

At least basic knowledge and experience of the following areas:

  • Experience in Actuarial Risk Management
  • Life pricing experience, in particular areas of Life Protection, Health and Reinsurance Structuring
  • Confidence and diplomacy to challenge peers and manage upwards
  • Effectively dealing with senior stakeholders
  • Ability to build an understanding of internal and external client strategy and needs
  • At least basic knowledge and experience of Enterprise Risk Management methodologies and frameworks
  • Experience delivering projects

Desirable

  • Significant experience in the LH insurance market, preferably in reinsurance, risk management, pricing or consulting
  • Understanding of key features of a reinsurance contract
  • Good knowledge of the protection market’s key products and features
  • Understanding and familiarity with a range of Reinsurance Structuring solutions

Qualifications and Educational Requirements:

  • Essential: University graduate or equivalent; qualified actuary
  • Desirable: A postgraduate qualification in insurance or risk management (e.g. CERA)
Apply Now

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.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.