Title:  Head of Credit and Surety

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 is open to considering candidates in numerous locations, including Princeton, NJ and New York City (NYC), NY.

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. 
 

The Opportunity

Future focused and always one step ahead!

Lead a team of Credit, Surety and Political Risk underwriters to achieve business unit goals.  Responsibility for the Credit & Surety book of business by managing the underwriting of profitable business, achieving the goals as set forth in the business plan and managing, developing and retaining talent. 

Responsibilities

• Manage a team responsible for the underwriting process to ensure efficiency as well as underwriting and pricing integrity of the portfolio.
• Ensure underwriting practices are consistent with Munich Re (MR) Group and Munich Re US local guidelines, Best Practices and underwriting strategies.  Identify deficiencies in underwriting and pricing, implement corrective actions and provide guidance/training for the development of underwriters.
• Develop financial and non-financial goals and objectives for individual underwriters.
• Develop and mentor underwriters and support the development of talent across the MR Group.
• Provide insight into the quantitative and qualitative analyses of Credit/Surety/PR results for MRUS. Collaborate actively with colleagues from business development, claims and reserving. 
• Work with the Head of Specialty to develop LoB strategies, the LoB Business Plan and a Target Portfolio as well as initiatives to ensure future success of MRUS.
• Serve as the primary underwriter on a limited number of treaties in order to maintain strong connections to the broader market and our underwriting and pricing processes.
• Operate as the key point of contact for the functional leaders at our key broker and client partners.

Qualifications

• 10+ years of industry experience preferred, 5+ in reinsurance is a plus;
• Underwriting Expert level knowledge of Credit, Surety and Political Risk
• High level of reinsurance contract (terminology) understanding and ability to develop alternative clauses where necessary;
• Experience in leading cross-functional projects;
• Strong interpersonal and social skills;  
• In-depth knowledge of the US Credit/Surety insurance and reinsurance markets;
• Solid negotiation, oral and written communication skills;
• Understanding of accounting, finance and actuarial concepts;
• Ability to explain complex transaction structures to both technical and non-technical audiences;
• Excellent presentation skills;
• Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals; 
• Willingness to travel for audits and client and broker visits (approx. 20% of time);
• BS/ BA preferred, advanced degree a plus

The Company is open to considering candidates in numerous locations, including Princeton, NJ and New York City (NYC), NY. The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $277,600 - $442,500, 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 is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the New York City job market.  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.

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