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Wording Expert (Legal Background)
senior · Risk & Compliance
About the Role
The Wording Expert provides specialised legal and regulatory support to Life & Health across the LH1.2 region (Iberia, Italy, Brazil, México, Colombia and Chile), with a primary focus on legal risk assessment, underwriting governance, and financial reinsurance transactions. The role ensures that Life & Health products, contractual arrangements, and business activities are legally sound, enforceable, and compliant with applicable laws, regulatory requirements, and Munich Re’s internal governance and risk appetite frameworks.
As a member of the Risk Management team will work closely with Pricing, Underwriting, Compliance, and Central Units. The Wording Expert advises throughout the transaction lifecycle, including product development, contract wording, approval processes, portfolio management, and the implementation of solutions. The position contributes to the identification, assessment, and mitigation of legal, regulatory, and reputational risks in complex, multi‑jurisdictional environments, while monitoring regulatory developments and translating them into clear, actionable guidance for senior stakeholders.
Key Responsibilities
Legal Governance & Quality Assurance
- Ensuring full compliance with applicable legal and regulatory frameworks governing the reinsurance business in an environment of increasing complexity, frequent regulatory changes, and heightened supervisory expectations.
- Provide clear legal interpretation of requirements related to data protection, sanctions, conduct of business, solvency, and other regulatory topics, anticipating risks and advising business teams on appropriate implementation measures. Close contact with local Compliance and Wording Experts from MR offices within the region.
- Providing clear expert legal assessments, acting as second line Wording Expert for Head of LH1.2 approvals.
- Ensure alignment of wording templates and clauses with market practices, internal policies, and legal requirements.
- Provide expert legal interpretation to all areas in LH1.2.
- Support the contractual review of complex or non-standard cases, including bespoke structures.
- Participate in external contract wording benchmarking and market discussions to ensure competitiveness and compliance.
- Legal Support on complex cases:
- coverage analysis,
- interpretation of contractual obligations,
- enforceability assessments,
- governance of exceptional/ex‑gratia decisions.
- Prepare legal documentation for potential litigation (pre‑litigation assessments, briefs, coordination with external counsel).
- Ensure robust handling and documentation of ex‑gratia considerations together with CU Legal.
Regulatory / Legal Monitoring
- Monitor legal, regulatory, and market developments affecting reinsurance business (e.g., sanctions, data protection, insurance regulation, industry alerts).
- Translate regulatory changes into concrete action plans and business‑friendly guidance.
- Support responses to regulatory consultations and requests from supervisory authorities.
Digital Solutions & Innovation
- Provide legal review for digital tools and platforms, including terms of use, data‑sharing frameworks, IP considerations, and contractual requirements.
- Responsible producing, reviewing and monitoring SARA and/or any other UW automated solution contractual documentation.
- Ensure compliance with data protection, confidentiality, retention, and usage obligations.
- Contribute to digitalization initiatives that enhance efficiency and governance of wordings.
Training & Knowledge Enablement
- Deliver training and knowledge sessions to all areas in LH1.2 on legal, regulatory, and contractual topics.
- Proactively maintain expertise on guidelines, regulatory changes, and market evolution.
- Act as a knowledge bridge between legal/regulatory frameworks and business operations.
- Cross‑Regional Collaboration
- Collaborate with wording specialists and legal counsel across global regions to align standards.
- Contribute to cross‑regional projects, knowledge‑sharing forums, and consistency initiatives.
Knowledge & Skills
- Qualified lawyer with solid experience in insurance/reinsurance contracts and regulatory frameworks.
- Strong drafting skills and deep understanding of contract law and insurance regulation.
- Proven ability to convert complex legal concepts into actionable business guidance.
- Experience working with multinational and cross‑functional teams.
- Strong analytical mindset, attention to detail, and structured problem‑solving skills.
- Excellent stakeholder management and communication.
- Advanced in Spanish, Portuguese and English (spoken and written).
Competencies
Strategic mindset (we think big) – You anticipate regulatory and legal developments, advising the business with forward‑looking solutions and clarity of purpose.
Ensures accountability (we lead the ‘we’) – You ensure rigorous governance, documentation, and discipline in line with internal standards and regulatory expectations.
Client focus (we grow with our clients) – You deliver pragmatic, value‑adding legal support to Underwriting, Claims, and Client Management.
Cultivates innovation (we grow with our clients) – You contribute to the development of new tools, digital solutions, and more efficient processes.
Sponsors work (we care and dare) – You empower partners across functions by offering clear guidance and enabling independent decision‑making.
Develops talent (we care and dare) – You contribute to building organizational legal knowledge and upskilling business teams.
Being resilient (we are clear and authentic) – You navigate complex or ambiguous situations with professionalism, recovering quickly from setbacks and providing steady guidance.
About us
As the world's leading reinsurance company with more than 16,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.
Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.
Sounds like you? Push boundaries with us and be part of Munich Re.
Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.
Rewards & Recognition
- Competitive salary: appropriate compensation for your high level of commitment.
- Retirement provision: state of the art in-house pension solutions.
- Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
- Health management: focus on your physical and mental health far beyond legal requirements.
- Hybrid working: we offer you a very flexible approach.
* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.