Company
Munich Re Specialty - Global Markets
Location
Madrid , Spain
About us
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Please see our website for more information.
Finance Business Partner - International (12 month fixed term contract)
Munich Re is a leading global provider of reinsurance, primary insurance and insurance-related risk solutions. This role sits within the Munich Re Specialty – Global Markets (MRSGM), a division of Munich Re that focuses on Primary Specialty Insurance.
MRSGM places business via the Lloyds and Company Markets and International Distribution Companies (IDC). MRSGM have embarked on ambitious transformation and geographic expansion initiatives. This role will be actively involved in those initiatives to deliver the ambitions. As part of this initiative, Munich Re launched project Gemini 2.0 to which leverages Munich Re’s resources to address mid-market commercial opportunities in new territories. The Expense Planning, Analysis & Partnering team have been supporting initial stages of the expansion projects by leveraging existing resources within the team. However, the next stage of the initiatives’ implementation process requires a dedicated resource.
The role will initially be a Fixed Term Contractor (FTC) role for 12 months based in Madrid.
Reporting to the Head of Expense Planning, Analysis & Partnering within the Finance department and working with stakeholders across MRSGM, Munich Re Risk Solutions Ireland (MRRSI), Munich RE Group and Great Lakes (as the carrier for the geographic expansion initiatives), the role will work closely with the business to help making key decisions. The role holder creates active partnerships that provide real-time support and analysis within the HR and Accounts payable department and other areas of the business as well as with the Munich Re Group expense management teams.
The role has responsibility supporting Head of Expense Planning, Analysis & Partnering in the delivery of business objectives, including the production of expense and headcount reporting and expense planning & analysis for geographic expansion initiatives and shaping the infrastructure & processes to deliver these key reporting & planning outputs. The role will play a key part in providing cost and resource transparency for the initiatives and thereby supports commercial decision-making and provides insightful analysis to key decision makers for the Europe and MRSGM management teams and initiative project teams. The role is also expected to work closely with the HR and Accounts payable team in implementing processes to support the geographic expansion initiatives.
Responsibilities:
Relationships & behaviours
- Build a network of contacts around the business and across MRSGM, MRRSI, Munich Re Group branches of geographic expansion countries to support delivery of business objectives
- Consistently model CFO Function values and behaviours to ensure a positive team culture
- Comfortable with numbers and the ability to clearly communicate story behind numbers
- Organised and have great attention to detail
- Team player; knowledge sharing with other team members
- Handle confidential salary data with complete discretion
Project Support:
- Support projects in scope of geographic expansion initiatives
Reporting & Analysis
- Planning, forecasting & reporting for headcount, vacancies and salary cost for geographic expansion initiatives
- Bonus analysis & calculations including accruals and payment reconciliations
- Produce committee paper support, and Statutory Accounts notes on Remuneration
- Ensure Salary, Payroll, Expense & headcount values reported via internal Power BI dashboards are accurate and up to datein cooperation with the Finance & Actuarial Transformation team
- Lead the expense budgeting & forecasting processes within MRSGM for geographic expansion initiatives
- Accruals management e.g. for: recruitment fees, agency fees, legal fees, project related fees and true-up for agency fees
- Work with HR and finance to simplify and streamline processes across teams and areas
- Support production of expense sections of monthly or quarterly management reports and annual plan presentations, including internal geographic expansion monitoring presentations from legal entity boards, Europe & MRSGM management teams to the Munich Re Group Committees incorporating quality insight and analysis, to a high standard
- Work with the Expense Business Partners to clearly understand and articulate the geographic expansion initiatives actual expense base, plans & forecasts including with cost drivers
- Adhere to the process and controls framework for the Expense Planning and Analysis team
- Work with the Reinsurance Controlling Team (RIC) in Munich to deliver expense planning and forecasting deliverables for geographic expansion initiatives
Business Partnering HR
- Salary & open vacancy forecasting
- Support HR with reconciliation of headcount/roles
- Support production of Steering Committee presentations for HR related matters/projects
- Support of HR related tax matters
Knowledge and Skills
- Salary and Payroll
- Expense & headcount reporting & forecasting
- Corporate Expense planning and reporting in a multi-platform environment required
- Business Partnering
- Specialty General Insurance/Reinsurance preferred
- Understanding of business change preferred
Skills
- Strong financial modelling and variance analysis skills
- Strong written work and ability to simplify complex material within a slide pack
- Excellent communication skills and confident in speaking to technical and business stakeholders
- Analytical, critical thinker with a problem solving attitude
- University Degree and/or relevant professional qualification
- Part qualified or qualified (ACA, ACCA, CIMA or equivalent) preferred
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!
Diversity, Equity & Inclusion
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.
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.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!
#BePresent #BeBold #BeCurious
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