North America Primary Insurance Market

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

As a member of Munich Re’s US operations, we offer the financial strength and stability that comes with being part of the world’s preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. By aligning our single risk business in one unified team we better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

The Opportunity

With this opportunity, you will be part of building a team consisting of Underwriters and Risk professionals and will be integral to the implementation strategies for Financial Institutions business in the North America Primary Insurance market. This position will work closely with other members of Munich Re’s Financial and Professional Lines team.

Key Responsibilities of this position include:

• Implementation of strategies for management and professional liability risks specific to financial services/ financial institutions business in the US
• Active involvement in underwriting of complex transactions and peer reviewing transactions underwritten by team members.
• Participate in development, growth, and profitability of a new Financial Institution portfolio.
• Active engagement with brokers and their clients to identify new and interesting business development initiatives, applying opportunity management techniques to prioritize high potential opportunities with greatest likelihood of realization
• Further development of existing products and solutions, adapting them if necessary and marketing them successfully in cooperation with the other underwriting teams
• Support cross-team collaboration and innovation initiatives
• Contribute to assigned special projects and to a positive work environment

Qualifications:

• College degree with emphasis on insurance, business or accounting preferred.
• 4+ years insurance or reinsurance company experience with emphasis on analytic functions in underwriting, accounting or 2+ years experience as an Underwriting Analyst.
• Working knowledge of pricing models, insurance policies and reinsurance contracts for property/casualty (or otherwise agreed) lines of business.
• Basic knowledge of primary and/or reinsurance underwriting process and coverage.
• Good interpersonal, verbal and written communication skills.
• Understanding of global and local systems, applications and reports; how the data flows through, how to read and interpret policies, binders and contracts.
• Excellent customer service skills with successful ability to take ownership of and resolve issues
• Detail oriented and results-driven
• Intermediate to expert level computer skills – Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook
• Ability to Travel – Princeton / New York.

The ideal candidate:

• Bachelor’s degree
• 7 + years of insurance and/or reinsurance experience with a strong technical background of underwriting D&O for publicly traded companies
• Sound technical knowledge of Financial and Professional Lines business as well as sound knowledge of the related US (Corporate) Insurance Market
• Exceptional communication skills that energize and engage brokers, clients and colleagues, and the ability to convey a vision and client-focused solutions
• Excellent analytical skills and quick understanding of key success factors
• Strong track record in developing business
• Good understanding of business economics (i.e., ability to assess business plans, analysis of cornerstones of business models, etc.)
• Solid understanding of policy forms and coverage
• Ability to develop and nurture working relationships within Munich Re North America and within the broader Munich Re Group
• Ability to travel nationally and internationally up to 30%

This position will be located in our NYC office. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $150,300 – $220,400 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

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.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.