Underwriting Support Manager

Underwriting Support Manager

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. We believe that  by aligning our single risk business in one unified team we will 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

Future focused and always one step ahead!

The Underwriting Support Manager will provide oversight and management of Underwriting Analysts (UAs) as well as implement standardized processes, deploy resources and ensure the integrity of the data entered into systems for relevant lines of business.

Responsibilities:

•           Direct and oversee the timely processing of business according to underwriting guidelines.

•           Direct the input of terms and conditions of complex accounts into global and local systems and ensure that the team remains in compliance with global process.

•           Oversee quality control of system entries to ensure accurate financials and mitigate any resulting financial impacts; maximize the integrity, quality and usability of information which will minimize discrepancies encountered by local and global data consumers.

•           Ensure that consistent and efficient underwriting support and processes are in place.

•           Work independently as well as with other Underwriting Support Managers to promote a team environment.

•           Monitor attendance, workloads and capacity across team of UAs.

•           Run Quality Control reports and conduct audits for assigned Team Members.

•           Create new and/or update existing processing procedures, manuals and training plans for new employees

•           Manage and mentor employees inclusive of the creation of development plans and facilitation of training and development for underwriting support staff.

•           Lead or participate in any global or local project that impacts the business unit or division.

•           Ensure UAs are working closely with underwriters.

•           Be aware of and ensure that external compliance responsibilities are complied with on an administrative level, including specific state requirements, associated with writing Large Single Risk business through admitted and non-admitted paper.

Qualifications:

•           Bachelor’s degree with emphasis on insurance, business or accounting or equivalent work experience

•           6+ years of Insurance or Reinsurance company experience including underwriting process and coverage with 5+ years of supervisory or management experience preferred

•           5+ years of experience with pricing, quoting and binding support working for a primary insurance company in underwriting or policy administration, performing policy issuance and underwriting support functions preferred

•           Advanced level computer skills preferred – Microsoft Excel, Word, PowerPoint, SharePoint, One Note and Outlook

•           Tech savviness and a willingness to experiment with and learn new technologies

•           Detail oriented and results-driven

•           Excellent interpersonal, verbal and written communication skills

•           Proactive and passionate service approach with ability to take ownership and drive issues to resolution

•           Highly adaptive and able to work effectively in ambiguous and changing environments

•           Able to work quickly and with minimal direct oversight

•           Ability to multi-task and manage competing priorities within a team-first, solutions-oriented culture

•           Ability to travel within and outside of the United States

The Company is open to considering candidates in numerous locations, including Princeton (NJ) or Chicago (IL). 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 $138,000 - $165,000 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 Princeton, NJ. 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.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

•           Two options for your health insurance plan (PPO or High Deductible).

•           Prescription drug coverage (included in your health insurance plan).

•           Vision and dental insurance plans.

•           Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.

•           Short and Long Term Disability coverage.

•           Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).

•           Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

•           A robust 401k plan with up to a 5% employer match

•           A retirement savings plan that is 100% company funded.

•           Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.

•           Eligibility to receive a yearly bonus as a Munich Re employee.

•           A variety of health and wellness programs provided at no cost.

•           Paid time off for eligible family care needs.

•           Tuition assistance and educational achievement bonuses.

•           A corporate matching gifts program that further enhances your charitable donation.

•           Paid time off to volunteer in your community.

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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