Senior Surety Bond & Guarantee Specialist (m/f/d)*

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.

Senior Surety Bond & Guarantee Specialist

Munich Re Specialty was formed as a stand-alone division in 2023, bringing together the wider Munich Re group’s primary specialty business units. Complementing an already strong presence in the UK and the US, Munich Re Specialty – Global Markets (MRS-GM) has been tasked with executing a wider plan to build a broader global footprint.

We are looking for a passionate and experienced Surety Bond & Guarantee Specialist to join our Specialty team at a truly exciting time. This is a rare opportunity to be part of the complete setup of our Surety operations in Europe—bringing your expertise to help build, lead, and grow a new chapter for Munich Re in the region.

As a Surety Bond & Guarantee Specialist, you will be instrumental in shaping Munich Re’s Surety operations across Europe, with a focus on Germany. Reporting into the Head of Operations Europe based in Madrid, you will manage the full lifecycle of bonds and guarantees—ensuring compliance, operational excellence, and outstanding client service—while helping us establish efficient processes and robust reporting systems. It is an opportunity to bring your ideas to life, innovate, and create something new within a collaborative, cross-functional team. You will design workflows, optimise procedures, and help build a scalable, future-ready surety platform for the European market. The role combines technical underwriting support with strategic and administrative responsibilities, contributing to the growth of a new and dynamic business line.

Responsibilities:

• Capture, issue, amend, and maintain accurate records of surety bonds (“ Bürgschaften ”) and guarantees in internal systems with utmost diligence
• Ensure timely issuance, renewal, and release of guarantees in close coordination with stakeholders
• Review and validate bond requests, facility agreements, and guarantee wordings as instructed by the underwriter
• Prepare and process guarantee documentation, including amendments and customer approvals
• Perform anti-money laundering, sanctions, ESG, and other relevant compliance and conduct risk checks on clients, brokers and projects
• Manage the signing and delivery process of bonds, including wet signatures
• Administer collaterals and handle invoicing, remittances, and refunds with precision
• Maintain a comprehensive database of active guarantees and associated documentation
• Support audits and produce meaningful reports for strategic decision-making
• Communicate effectively with domestic and international clients, brokers, beneficiaries, and internal stakeholders, ensuring excellent customer service
• Ensure compliance with internal procedures and regulatory requirements
• Help design workflows and optimise procedures for a scalable operating model

Knowledge and Skills

• Completed relevant vocational training e.g. as bank or industrial clerk or university degree or other relevant professional experience
• At least 3 years’ experience with surety bonds (“ Bürgschaften ”) , Standby Letters of Credit (SBLCs), and guarantees in banking or insurance
• Excellent experience in processing and issuing surety bonds, guarantees or Standby Letters of Credit (SBLCs)
• Strong knowledge of German surety market practices and bond & guarantee wordings
• Basic knowledge of applicable laws and regulations (e.g. relevant sections of German Civil Code BGB), Uniform Rules for Demand Guarantees (URDG) & International Chamber of Commerce (ICC) guidelines
• Excellent administrative and organizational skills
• Familiarity with compliance and conduct risk checks, sanctions, anti-money laundering procedures
• Proficiency in Microsoft Office
• Ability to prioritize and manage multiple tasks in a fast-paced environment, both independently and as part of a team
• Strong communication skills with a focus on delivering exceptional client service
• Fluent German (spoken & written) and English skills are essential; Spanish skills are preferred and any additional European languages such Italian is an advantage

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