[ Associate Actuary - Public Entity Company Munich Re America Location New York , United States

Associate Actuary - Public Entity

*We will consider candidates in Princeton, NJ, Philadelphia, PA, New York City, NY and Chicago, IL.

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 for knowledgeable and skilled pricing actuaries to help drive the profitable growth of our Public Entity book.

Key Responsibilities of this position include:

• Support actuarial pricing for large accounts in the Public Entities space (such as Municipalities, Transit Authorities, and School Districts). Major LOBs to be priced are GL, AL, PL and Property. Additionally, coverages such as Sexual Abuse and Law Enforcement Legal, are also commonly provided.
• Develop and maintain pricing tools for account pricing and portfolio steering.
• Prepare and complete rate studies, develop adequate premium and communicate the results.
• Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration on technical issues.
• Support ad-hoc requests and projects from UW community as well as miscellaneous actuarial studies. 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.
• Assist UW with the troubleshooting in actuarial tools and data reconciliation as needed.
• Provide actuarial insight and expertise as a participant on a Market Research group.
• Participate in training of others (underwriters, client managers, risk analysts, and actuaries) regarding actuarial analyses and methodologies.

Job Requirements:

• 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 experience rating.
• Strong interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.
• Excellent oral and written communication skills.

The salary range posted below applies to the Company's NYC location. The base salary range anticipated for this position is $ 107,700 - $158,000 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. ]