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Senior Specialist, Governance, Risk and Compliance
senior · Risk & Compliance
Munich Re Retakaful, part of Munich Re, the world’s largest reinsurer, is looking for a Senior Specialist, Governance, Risk and Compliance, who can help us continue forging ahead in the global Family Retakaful market.
You will be responsible for providing an effective key second line of defense role for Munich Re Retakaful operations both from a Bank Negara Malaysia (BNM) regulatory perspective but also in relation to Munich Re’s internal corporate governance, risk management (both financial and non-financial) and compliance standards.
You will report to the Chief Risk and Compliance Officer, Munich Re Retakaful and will be based in Kuala Lumpur
Your Job
- Support the Chief Risk & Compliance Officer in driving the Risk and Compliance agenda, balancing business objectives, regulatory requirements, and Group expectations.
- Lead the implementation and continuous enhancement of the Risk Management Framework, including risk identification, assessment, monitoring, reporting, and escalation of key risks and exposures.
- Oversee Enterprise Risk Management activities, including ICAAP, Risk Control Self-Assessment (RCSA), operational risk management, risk appetite monitoring, and regulatory reporting requirements.
- Manage Compliance Management activities, including compliance risk assessments, advisory support, monitoring, investigations, regulatory change management, training, and fostering a strong compliance culture.
- Ensure effective implementation of Munich Re Group Risk Management Framework and Compliance Management System requirements within Munich Re Retakaful.
- Oversee key risk and compliance programmes, including information security and cyber risk, AML/CFT, sanctions, anti-corruption, data protection, outsourcing, business continuity management, and third-party risk management.
- Develop, review, and enhance Shariah Risk and Compliance frameworks, policies, procedures, and guidance, while providing advisory support to business and support functions on Shariah-related matters.
- Monitor emerging risks arising from changes in market conditions, geopolitical developments, regulatory expectations, and industry trends, and provide timely recommendations to Management.
- Act as the primary coordinator for regulatory engagements, including interactions with Bank Negara Malaysia and other relevant authorities, ensuring timely and accurate submissions and responses.
- Build and maintain strong relationships with stakeholders across Munich Re Group, regional and global functions, Board and Management Committees, external partners, and cedents across the Middle East and other key markets
Your Profile
- Relevant work experience (typically around 4+ years) in risk, compliance, insurance, or related fields.
- Degree in a relevant discipline, with professional qualifications in compliance, risk management, actuarial science, or insurance (e.g., CERA, FSA, LOMA, AMII, FLMI, BRM, or equivalent).
- Certification in Muamalat / Islamic Finance or equivalent Shariah-related qualification (e.g., IBFIM, IIUM) is an advantage.
- Knowledge of the Takaful business model is advantageous.
- Possesses fundamental knowledge of Shariah principles.
- Proficient in Microsoft Excel and PowerPoint (essential).
- Strong communication skills in spoken and written English, with the ability to articulate ideas clearly and deliver effective presentations.
- Demonstrates curiosity, adaptability, and a willingness to conduct independent research.
- Ability to formulate and confidently present evidence-based viewpoints, even when they differ from others.
- Exercises sound, independent judgment and communicates decisions transparently.
At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.