Title:  Associate Actuary

Associate Actuary

We will consider candidates in New York City, Philadelphia, PA and Princeton, NJ

We are 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.

The Company

Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

The Opportunity

Our Associate Actuary supporting reporting and results monitoring will be responsible to enhance and manage reporting functions residing in the Pricing Governance unit for Munich Re Specialty – North America. 

Key Responsibilities of this position include:

• Lead the ongoing monthly and quarterly updates of actuarial reports.

• Become the knowledge matter expert in this domain.

• Implement robust documentation and data quality processes.

• Lead efforts to automate these updates and transfer, where possible, the future report production to the Digital Enablement team

• Implement unified price monitoring standards across all of Munich Re Specialty – North America, including rate change, technical premium, and related reports.

• Manage the annual Loss Planning process and collaborate with actuarial, finance, and IT teams in the build-out of SAP functionality and long-term planning of Munich Re Specialty – North America business.

• Collaborate with Corporate Underwriting, Data Operations, and business stakeholders in the design, implementation, and enhancement of reports.

• Identify opportunities for advances in pricing, monitoring and steering of Munich Re Specialty – North America business, including data capture and supplementation, pricing and analytical tools and methods, KPIs and portfolio deep dives.

• Implement robust documentation process for peer reviews and reporting methodologies.

Job Requirements:

• Bachelor’s Degree in Mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring modeling, programming, or quantitative analysis.

• At least 4+ years of insurance/actuarial experience.

• Membership in the Casualty Actuarial Society preferred.

• Strong knowledge technology and analytics.

• Strong interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.

• Good time management skills.

• Excellent computer skills including model building and data capture.

• Excellent oral and written communication skills.

The salary range posted below applies to the Company’s NYC locations. The base salary range anticipated for this position is $110,500 - $162,000 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.