Company
Munich Re Specialty - North America
Location
New York , United States
Senior Actuarial Analyst
The Company is open to considering candidates in Princeton, NJ; Philadelphia, PA; New York City, NY.
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 Munich Re Specialty – North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty - North America Disclosures
The Opportunity
Future focused and always one step ahead!
The Senior Actuarial Analyst role will have a significant supporting role in the pricing and monitoring of the Excess and Surplus business.
Responsibilities:
- Support the launch of new products and expand the capabilities of existing products focusing on the casualty line of business.
- Develop and maintain pricing tools for account pricing and portfolio steering.
- Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and communication of results.
- Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
- Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business.
- Document and communicate assumptions, results, and alternatives to actuarial staff and internal clients.
- Identify data issues requiring specialized actuarial attention.
- Provide actuarial insight and expertise as a participant on a Line of Business Expert Group.
- Participate in training of others (underwriters, client managers, risk analysts, accountants, and actuaries) regarding actuarial analyses and methodologies.
Qualifications
- Progress toward membership in the Casualty Actuarial Society, as demonstrated by passing of actuarial exams.
- Two or more years of experience in insurance pricing, preferably supporting commercial or specialty insurance products.
- Strong understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.
- Effective communication and interpersonal skills. Ability to communicate technical concepts to non-technical audiences in an effective manner.
- Experience in R, Python, SAS, or other statistical software in insurance pricing applications.
- Excellent oral and written communication skills.
The Company is open to considering candidates in numerous locations, including NYC. The salary range posted below applies to the Company’s NYC location.
The base salary range anticipated for this position is $ 94,100 - $138,100 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.
