Let’s care for tomorrow.
Your ambitions.  Your dreams.  Your tomorrow.

Whether it’s aircraft, international business, offshore wind parks, or Hollywood film productions, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses. 

We are looking for a Head of Economic Sanctions (m/f/d), based in Munich. 

The Impact You Will Have

In this role, you will manage and oversee the Allianz Commercial  Economic Sanctions Unit, and reports directly to the Global Head of Compliance. You will drive the Economic Sanctions programme within the organisation globally whilst taking into account internal and external developments. This includes regular engagement with stakeholders (e.g. Lines of Business, CUO, Claims, Group Compliance) and having a sound understanding of the end-to-end sanctions processes within the wider operational set up. 

Some of your specific responsibilities could include: 

• Managing the Economic Sanctions Unit (ESU) and overseeing their key tasks, deliverables and projects. Establishing a clear sanctions plan and ensuring clear task allocation and ownership, with regular performance evaluation and feedback. 
• Overseeing the 1st level and 2nd level sanctions support team and ensuring a viable allocation of tasks to the 2nd level with sound quality of output. 
• Overseeing the ESU's handling of referrals, ensuring correctness and appropriateness of assessment criteria and considerations. Implementing learning mechanisms amongst the team members for continuous improvements in the assessments of and responses to referrals. Managing the Sanctions Global Pratice Group globally for sharing of developments and advising on local/ regional impact/ expectations. 
• Together with the ESU, tracking and performing assessments of sanctions laws and developments across the various regimes, including guidance and practice notes from competent requlators, and interpreting and applying the same to Allianz Commercial in the context of the functional areas 
• Having a sound understanding of the sanctions requirements across business areas and improving the sanctions processes and/or streamlining requirements as the sanctions programme and the operational aspects change. 
• Preparing the necessary mangement information reports on the relevant sanctions referrals, trends and developments for the Board, internal stakeholders and the Group. 
• Liaising with the Compliance and Legal Communities, Board units, Lines of Business, Claims, Group Compliance etc. on a regular basis to ensure transparency and clear communication on sanctions requirements, developments, risks and trends. 

What You’ll Bring to the Role 

• Bachelor’s degree in Law, preferably qualified Lawyer 
• 5-7 years of experience in Sanctions Compliance within the insurance/reinsurance industry 
• Excellent leadership and people management skills 
• Exposure to stakeholder management in a global set-up 
• Legal experience in interprerting and applying laws 
• Excellent skills in legal analysis and assessment 
• Strong initiative, and resolve problems with a high degree of autonomy 
• Excellent project management skills with an ability to steer and manage topics/initiatives with a cross functional view 
• Excellent interpersonal, strong communication and presentation skills         
• Good understanding of internal controls system, processes and methodology 
• Familiarity with database workflow tools 
• Fluent English and German language skills in spoken and written 

45943 | Legal & Compliance | Management | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working.  Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back. 

Let’s care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the Allianz Group brand serving the world’s largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations’ economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.  

As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium. 

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.

People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com.

Recruitment Agencies:   
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly.  Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters.  Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired.  When we do use agencies, we have a PSL in place, so please do not contact managers directly.  

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