[ Actuary Sr - Bell & Clements Company Munich Re America Location Princeton , United States

Actuary Senior - Bell & Clements

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 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.

The Opportunity

Are you ready for a new challenge? We are looking to hire a lead pricing actuary for Munich Re Specialty Insurance's Bell & Clements business unit, which writes residential property, commercial property, and other coverages on an excess and surplus basis in the US market by delegating authority to select coverholders. This individual will support the profitable growth across existing and new products in support of Munich Re Group's Ambition 2025.

We may consider qualified candidates from other offices.

Key Responsibilities of this position include:

• Partner with Business Unit and Coverholders as a trusted advisor to drive pricing excellence for Residential Property, Commercial Property, Transportation, Flood, Earthquake, Lender-Placed, and other products.
• Develop technical pricing indications across responsible products based on actuarial techniques, including predictive modeling.
• Perform rate studies across responsible products to evaluate portfolio rate need, project profitability, and guide Business Unit to improve profitability.
• Develop 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, internal clients, and external clients.
• In consultation with the Cat Modeling team, drive improvements in the sophistication and accuracy of technical pricing for catastrophic perils, including tropical cyclone, severe convective storm, winter storm, earthquake, wildfire, and flood.
• Liase with Digital Underwriting team to enhance models and workflows used to digitally price Residential Property and Commercial Property business.
• Conduct pricing analyses with minimal supervision, including the development of rates, ultimate loss projections, trend studies, and communication of results. Influence stakeholders based on results of analyses.
• 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 minimal assistance/guidance.
• Provide actuarial insight and expertise on actuarial assumptions and parameters as participant or lead on a Market Research Analysis and Parameters (MRAP) line of business group.
• Maintain contemporary, in depth knowledge of property lines of business.
• Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.
• Mentor, train, and review analyses from more junior actuaries

Job Requirements:

• Membership in the Casualty Actuarial Society or Institute and Faculty of Actuaries required. FCAS/FIA preferred.
• Eight (8) or more years of experience in primary insurance pricing, especially property lines.
• Strong technical actuarial skills and strong knowledge and understanding of rating models.
• Strong understanding of industry catastrophe models, including vendor models such as RMS and AIR.
• Strong interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.
• Experience in use of R, Python 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 $188,300 - 276,200, 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 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. ]