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About the Role
Reporting to the Head of Munich Re F&C North America, this role leads the Casualty Fac US team to be the reinsurer of choice for brokers and clients by leveraging financial strength, underwriting capabilities, and client/market focus to achieve target North America results.
Responsibilities
- Implement F&C strategic plans to identify opportunities to expand the portfolio and risk appetite.
- Leverage underwriting expertise and data to drive optimal risk selection, differentiated capacity, and increased efficiencies.
- Monitor portfolio performance and market cycle in conjunction with the F&C Analytics Team, and steer the portfolio accordingly.
- Manage the underwriting process to ensure efficiency, underwriting integrity, and pricing integrity of the portfolio.
- Ensure underwriting practices are consistent with MR Group, MRF&C, and US local guidelines, Best Practices, and underwriting strategies.
- Identify underwriting deficiencies, implement corrective actions, and provide guidance/training for underwriter development.
- Delegate underwriting authority to staff, ensuring underwriters understand guidelines and proficiently use all applicable tools.
- Provide insight into quantitative and qualitative analyses of results for the Casualty Fac Portfolio, in conjunction with F&C Operations, Reserving, and FMR.
- Lead the creation of solutions and resolution of problems involving other functional units such as Business Development, Underwriting Support, Pricing, and GC/NA.
Requirements
- 10+ years of experience in (re)insurance underwriting or broker community.
- Demonstrated superior leadership and management skills.
- Ability to think strategically and function tactically.
- Underwriting expert level knowledge of applicable Casualty Lines of Business.
- Ability to develop and execute plans and provide strategic direction for unit goals.
- Exceptional communication skills that energize and engage clients and colleagues.
- Ability to convey a vision and client-focused solutions.
- High level of actuarial understanding and demonstrated competency using pricing tools.
- High level of (re)insurance contract (terminology) understanding.
- In-depth knowledge of the US insurance and reinsurance markets.
- Ability to explain complex transaction structures to both technical and non-technical audiences.
- Tech savviness and a willingness to experiment with and learn new technologies.
- Willingness to travel up to 30%.
Skills
- Leadership
- Management
- Strategic Thinking
- Tactical Functioning
- Casualty Lines of Business Underwriting
- Planning and Execution
- Communication
- Client Focus
- Actuarial Understanding
- Pricing Tools
- (Re)insurance Contract Understanding
- US Insurance and Reinsurance Markets Knowledge
- Complex Transaction Explanation
- Technology Adaptability
Location
- New York City, NY
- Princeton, NJ
- Chicago, IL
Work Type
- Onsite
- Hybrid
Experience Level
- 10+ years
Education Level
- Bachelor's Degree preferred
- Advanced degree a plus
Salary/Compensations
- $270,800 - $451,400
- plus opportunity for company bonus based upon a percentage of eligible pay
Benefits
- Health insurance coverage (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)
- 401k plan with up to a 5% employer match
- Retirement savings plan (100% company funded)
- 24 days paid time off annually
- Yearly bonus eligibility
- 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
- Munich Re's US operations offer financial strength and stability as part of the world's preeminent insurance and reinsurance brand.
- Risk experts assemble the right mix of products and services to help clients stay competitive.
- Munich Re Facultative and Corporate (MR F&C) bundles facultative and corporate business into one global unit.
- Aligning single risk business in one unified team better positions Munich Re to provide a holistic suite of products and services meeting growing client and broker demands.
Equal Opportunity
- We are an equal opportunity employer.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- We see Diversity, Equity and Inclusion as a solution to challenges and opportunities.
- Our goal is to foster an inclusive culture and build a workforce that reflects our customers and communities.
- We strive to provide a workplace where all colleagues feel respected, valued, and empowered.
- We recruit and develop talent focusing on providing customers with the most innovative products and services.