This position is responsible for a breath of work related to the identification, monitoring, and mitigation of risks. The Risk Analyst Senior manages a wide scope of projects including emerging risk process, ad-hoc risk reports, Statements of Risk Management, business continuity planning, quarterly risk reporting, and Third Party Risk Management.
The Senior Analyst provides value-added insight to the business, regarding insurance business practices. This position supports risk analysis for changes in business practices, regulation, and innovation and contributes ideas to Munich Re's 2nd line of defense Integrated Risk Management function.
1.Complete effective risk management assessments, advice and strategy recommendations regarding a variety of risk items including mergers & acquisitions, surveys, strategic projects, initiatives, innovation and new products, analysis and preparation of qualitative and quantitative risk reports, and documented Statements of Risk Management informing executive decisions.
2.Serve as Risk Manager Delegate. Participate and or facilitate risk & governance committees such as Risk Management Committee, Emergency Management Group and Regional Emergency Management Group. Maintain committee charters & update based on changing risk landscape and best practices. Guide risk owners on development of risk focused presentation materials ensuring transparency of most critical risks. Develop summaries for Board reporting.
3.Manage decentralized resources in the annual Internal Control System (ICS) cycle for understanding the state of operational controls. Support and effectively challenge the business in the development and completion of ICS assessments including risk identification and strong control design and monitoring for purposes of an accurate and complete inventory of controls and improvement plans.
4.Drive a culture of strong Third Party (vendors, business affiliates, outsourced functions) Risk Management.
5.Ensure Enterprise Rism Management (ERM) Framework and practices are implemented and maintained appropriately. Provide challenge, consultation and guidance to all operations.
6.Maintain a sustainable Emerging Risk Process to enable the comprehensive research, analysis and reporting of Emerging Risks impacting each entity with the objective of implementing strategies to mitigate adverse impacts. Partner with Innovation team in support of new product development.
7.Influence business continuity strategies, complete risk assessment, and conduct exercises related to emergency management and leveraging broad working knowledge of company operation.