Senior Actuarial Manager, E&S
Munich Re America
New York , United States
Senior Actuarial Manager, E&S
Munich Re Specialty Insurance
We will consider candidates in Princeton (NJ), Philadelphia (PA), or New York City (NY).
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.
Munich Re Specialty Insurance (MRSI) 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 Insurance (MRSI) 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.
Future focused and always one step ahead
Are you a seasoned actuarial leader looking for an exciting opportunity to drive a high-performing pricing team? At Munich Re Specialty Insurance, we are looking for an Actuarial Manager Senior to support the continued growth of our Excess and Surplus business unit, supporting Property, Primary GL, Excess Casualty, Healthcare, Professional Liability, Financial Lines, Commercial Auto, and Surety products.
As an Actuarial Manager Senior, you will spearhead the development, analysis, and evaluation of innovative actuarial solutions, employing cutting-edge methodologies to support and enhance the financial profitability and production objectives of Munich Re Specialty Insurance. You will champion key projects related to the design and refinement of actuarial models, tools, analyses, and databases, collaborating with technical teams and conducting in-depth research to optimize pricing methodologies and process efficiency. You will be responsible for communicating actuarial results to the Executive Leadership Team (including CEO, President of E&S, CUO, and CFO) in a clear, concise, and impactful manner.
You will also be entrusted with the responsibility of cultivating a high-performing team. Through effective mentorship, talent development, and continuous conversations, you will empower team members to reach their full potential, driving both individual success and the collective achievement of strategic objectives.
In this position you will:
• Manage actuarial activities for assigned area and staff. Participate in negotiations and structuring of actuarial policies and practices to achieve financial goals. Maximize profit generated the Company as appropriate for the functional area. Balance sometimes conflicting goals.
• Complete and prioritize multiple actuarial, analytics, and/or reporting analytic projects. May include pricing studies, ultimate loss projections, rating plan development, risk capital modeling, portfolio analyses, research projects, planning, and reporting. Lead and manage projects/analyses requiring multiple resources including those who are not direct reports.
• Direct and lead the development of new methodologies, products and procedures for the company, including the integration of traditional actuarial techniques and advanced analytics.
• Lead the development, maintenance and enhancement of actuarial models and tools which support the business plan and develop written specifications for IT.
• Lead efforts to streamline processes and workflow as requested.
• Lead the communication, documentation and coordination of information, technical issues, and activities between actuarial departments as well as with internal & external colleagues and clients.
• Provide leadership in the training of underwriters, client managers, underwriting assistants and other actuaries regarding actuarial analyses and methodologies.
• Complete peer reviews on actuarial work and provide constructive feedback, as needed. Maintain consistency of methods as appropriate.
• Interact with internal and external contacts, including executives, to improve quality and knowledge of work product. Provide feedback to staff on ways to address issues, promote techniques to address and recognize all levels of feedback.
• Maintain current knowledge of trends and products in the (re)insurance industries and address the need for development of new methods, products and procedures.
• Cultivate a high-performing team by fostering a culture of collaboration, innovation, and continuous development, ensuring that your team members are motivated, supported, and equipped to excel in their roles.
Successful candidates will be possess the following skills/capabilities:
• Bachelor’s Degree in Mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring.
• Fellowship in the Casualty Actuarial Society (FCAS).
• Ten (10) years of insurance/actuarial experience with at least five (5) year in commercial insurance pricing (single risk E&S insurance pricing experience preferred)
• Five (5) years of experience managing direct reports.
• Experience in use of R, Python or other statistical software in insurance pricing applications is preferred.
• Knowledge of advanced analytics.
The salary range posted below applies to the Company’s NYC location. The base salary range anticipated for this position is $240,500 - $352,700 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 US, we see Diversity 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.