[ Job Description

* We will consider candidates in Princeton (NJ), Philadelphia (PA), New York City (NY)

Are you ready for a new challenge? We are looking for knowledgeable and skilled pricing actuaries to help drive the profitable growth of our Excess and Surplus products.

The Insurance Operations
Munich Re US recently launched a new insurance operations described as Munich Re Specialty Insurance (MRSI) that unites the strengths and expertise of Munich Re's specialty commercial teams in North America under a new management structure. This allows for the development of an overarching sales strategy through which the specialty risk appetite and offering of products that can be profitably optimized and expanded.

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

The Associate Actuary role will have a significant supporting role in the pricing and monitoring of the Excess and Surplus business.

In this position you will:

• Support the launch of new products and expand the capabilities of existing products in property, casualty, professional liability, and specialty lines 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 for 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.
• 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.
• Identification of 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

Successful candidates will possess the following skills/capabilities:

• Significant progress toward membership in the Casualty Actuarial Society, as demonstrated by five or more CAS exams.
• Four or more years of experience in insurance pricing, preferably supporting commercial or specialty insurance products.
• Robust understanding of pricing techniques, including ratemaking and predictive modeling.
• Strong interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.
• 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 $104,600 - $153,300, 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. ]