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About the Role

Provide actuarial pricing/rating support for Munich Re Specialty-North America (MRSNA). Support Digital Underwriting by analyzing, evaluating, modeling and rating potential competitive solutions for clients. This individual will support profitable growth across existing and new programs in support of Munich Re Group’s multi-year strategy.

Responsibilities

• Partner with the business unit as a trusted advisor to drive pricing excellence for Digital Underwriting, including Excess & Surplus Homeowners, Commercial Property and General Liability lines of businesses.
• Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and trend studies with some guidance.
• Communicate results of analyses to stakeholders.
• Participate in development and update of actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
• Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in understanding and steering business.
• Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
• Identification of data issues requiring specialized actuarial attention.
• Perform research on relevant competitor rates and industry trends which will serve as benchmarks for pricing.
• Provide actuarial insight and expertise on actuarial assumptions and parameters as participant on a Market Research Analysis and Parameters (MRAP) line of business group.
• Work closely with underwriting, data science and engineering teams to resolve any issues during testing and integration of the pricing models and algorithms.

Requirements

• Bachelors Degree in Mathematics, Actuarial Science, Economics, Business or related field.
• Passed at least four (4) Casualty Actuarial Society exams.
• At least three (3) years of insurance/reinsurance and actuarial pricing experience.
• Good technical actuarial skills.
• Understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.
• Proficient computer skills in MS Office Suite, including PowerBI to be used for ratemaking, pricing, modeling stochastic distributions or data analysis.
• Excellent oral and written communication skills.
• Good judgmental and problem-solving skills to address potentially complex and high-profile issues.
• Good time management and organizational skills including the ability to manage conflicting priorities, complete multiple tasks and projects.

Skills

• PowerBI
• R
• Python
• SAS
• statistical software
• MS Office Suite

Location

• New York City

Work Type

• Full-time

Experience Level

• 3+ years

Education Level

• Bachelors Degree

Salary/Compensations

• $96,100 - $140,900

Benefits

• Company bonus
• Health insurance coverage
• Employee wellness program
• Life and disability insurance
• 401k match
• Retirement savings plan
• Paid holidays
• Paid time off (PTO)
• Two options for health insurance plan (PPO or High Deductible)
• Prescription drug coverage
• Vision and dental insurance plans
• Basic life insurance equal to 1x annual salary
• AD&D coverage equal to 1x annual salary
• Short and Long Term Disability coverage
• Supplemental Life and AD&D plans
• Voluntary Benefit plans (Accident, Critical Illness and Hospital Indemnity)
• Robust 401k plan with up to a 5% employer match
• 100% company funded retirement savings plan
• 24 days paid time off annually
• Yearly bonus
• Health and wellness programs
• Paid time off for eligible family care needs
• Tuition assistance
• Educational achievement bonuses
• Corporate matching gifts program
• Paid time off to volunteer

About the Company

• Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers.
• We offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages.
• With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability.
• Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face.
• Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

Equal Opportunity

• We are an equal opportunity employer.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us.
• Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.
• We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
• We recruit and develop talent with a focus on providing our customers the most innovative products and services.