About the Role
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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, the Wording Expert works closely with Pricing, Underwriting, Compliance, and Central Units. The 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

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- 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.

- Providing 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.

- Ensuring alignment of wording templates and clauses with market practices, internal policies, and legal requirements.

- Providing expert legal interpretation to all areas in LH1.2.

- Supporting the contractual review of complex or non‑standard cases, including bespoke structures.





- Participating in external contract wording benchmarking and market discussions to ensure competitiveness and compliance.

- Legal support on complex cases:

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- Coverage analysis

- Interpretation of contractual obligations

- Enforceability assessments

- Governance of exceptional/ex‑gratia decisions

- Preparing legal documentation for potential litigation (pre‑litigation assessments, briefs, coordination with external counsel).

- Ensuring robust handling and documentation of ex‑gratia considerations together with CU Legal.

Regulatory / Legal Monitoring

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- Monitoring legal, regulatory, and market developments affecting the reinsurance business (e.g., sanctions, data protection, insurance regulation, industry alerts).

- Translating regulatory changes into concrete action plans and business‑friendly guidance.

- Supporting responses to regulatory consultations and requests from supervisory authorities.

Digital Solutions & Innovation

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- Providing legal review for digital tools and platforms, including terms of use, data‑sharing frameworks, IP considerations, and contractual requirements.

- Responsible for producing, reviewing, and monitoring SARA and/or any other underwriting automated solution contractual documentation.

- Ensuring compliance with data protection, confidentiality, retention, and usage obligations.

- Contributing to digitalization initiatives that enhance efficiency and governance of wordings.

Training & Knowledge Enablement

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- Delivering training and knowledge sessions to all areas in LH1.2 on legal, regulatory, and contractual topics.

- Proactively maintaining expertise on guidelines, regulatory changes, and market evolution.

- Acting as a knowledge bridge between legal/regulatory frameworks and business operations.

- Cross‑regional collaboration:

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- Collaborating with wording specialists and legal counsel across general regions to align standards.





- Contributing to cross‑regional projects, knowledge‑sharing forums, and consistency initiatives.

Knowledge & Skills

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- 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

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- Strategic mindset – anticipating regulatory and legal developments, advising the business with forward‑looking solutions and clarity of purpose.

- Ensures accountability – ensuring rigorous governance, documentation, and discipline in line with internal standards and regulatory expectations.

- Client focus – delivering pragmatic, value‑adding legal support to Underwriting, Claims, and Client Management.

- Cultivates innovation – contributing to the development of new tools, digital solutions, and more efficient processes.

- Sponsors work – empowering partners across functions by offering clear guidance and enabling independent decision‑making.

- Develops talent – building organizational legal knowledge and upskilling business teams.

- Being resilient – navigating complex or ambiguous situations with professionalism, recovering quickly from setbacks and providing steady guidance.

Rewards & Recognition

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- 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: a very flexible approach.

- Munich Re is an equal‑opportunities employer. xqbhyrx Severely disabled candidates will also be prioritized, if equally qualified.

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📌 Wording Expert (Legal Background) (Madrid)
🏢 Munich Re
📍 Madrid