Senior Risk Manager

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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 generating new business for Munich Re through initiatives in Southern Europe and Latin America, while maintaining a stable and profitable portfolio. Its growth strategy focuses on scaling traditional Protection business in Life and Health, shaping it via Business Transformation (Automated Underwriting, B2B2C Cooperation Models, and Product Development), and expanding Financial Reinsurance solutions across the region.

The Risk and Pricing department based in Madrid provides actuarial and risk management services, supporting sustainable growth aligned with the Group's underwriting guidelines.

About the role :

The Senior Risk Manager collaborates closely with LH1 MAD colleagues, the LH1 Risk Management team, and Munich central functions to strengthen LH1 Madrid's actuarial and enterprise risk management capabilities. They will support internal reporting such as the Annual Risk Report, Risk Assessment Cycle, and ICS analysis. LH1 MAD covers Southern Europe (Spain, Portugal, Italy, Malta) and Latin America, working with offices in Milan, Malta, São Paulo, Bogotá, and Mexico City. The role encompasses all Life and Health Protection and Financial Reinsurance contracts, with collaboration with Non-Life teams, but without responsibility for compliance processes. The position is based in Madrid.

Key Responsibilities :

• Actuarial Risk Management : Review large and complex transactions for financial, operational, legal, and reputational risks; review pricing bases, product designs, and tools; collaborate on projects.
• Enterprise Risk Management : Report to LH1 CRO and management; oversee risk governance; deliver operational risk framework; assess other risk types like market, credit, reputation, liquidity.
• General Risk Management : Support profitable business and innovation initiatives; promote risk principles; develop risk strategy and appetite; represent risk management in initiatives; serve as a guideline reference.

Competencies :

Key Skills & Experience :

Qualifications :

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