Your job

* We will consider candidates in the following U.S. locations: Chicago, New York City, Philadelphia, or Princeton (NJ).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.The Insurance OperationsMunich Re US has 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. This allows for the development of an overarching sales strategy through which the specialty risk appetite and product offerings 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 OpportunityFuture focused and always one step aheadThis Associate Actuary role will provide actuarial pricing/rating support for MRSI. They will also support the Public Entity business in meeting its goals by analyzing, evaluating, modeling and rating potential competitive solutions for our clients, as well as supporting rate filings.In this position you will:

• Prepare and complete pricing analyses with some guidance, 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 and external clients.
• 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
• Pursue formal education via Casualty Actuarial Society (CAS) exams.
• Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.

Your profile

Successful candidates will possess the following skills/capabilities:

• Bachelor’s Degree in mathematics, Actuarial Science, Economics, Business or related field.
• Passed four (4) to six (6) actuarial exams.
• At least four (4) years of insurance/reinsurance actuarial pricing experience.
• Good technical actuarial skills.
• Proficient computer skills in MS Office Suite used for ratemaking, pricing, modeling stochastic distributions or data analysis (as appropriate).
• Experience in use of Python, R or other statistical software in insurance pricing applications.
• Excellent oral and written communication skills and interpersonal 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.

About us

Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.

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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

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