Munich Re America
Facultative Property Team Lead
Munich Re America, Chicago, Illinois, United States, 60290
Facultative Property Team LeadCompany:Munich Re AmericaLocation:Chicago, United States
We will consider candidates in our Chicago or NYC, NY offices.
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. We will consider a range of experience for this role and the offer will be commensurate with that.
The Company
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.
Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. By aligning our single risk business in one unified team, we better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.
The Opportunity
In this role, the Facultative Property Underwriting Team Lead will lead a team of underwriters that is part of the Global Facultative & Corporate Division (MRF&C) to achieve business unit goals. They will be accountable for a book of business by managing the underwriting of profitable business, achieving the goals as set forth in the business plan, and managing, developing, and retaining talent.
Key Responsibilities of this position include:
Manage the underwriting process within the Individual Certificate portfolio in line with F&Cs risk appetite, efficiency goals, and market strategy to achieve a balanced, well-diversified, and profitable portfolio in all market cycles as well as underwriting and pricing integrity of the portfolio.
Establish clear performance and professional development goals and milestones for all employees. Mentor underwriters and support the development of talent across the MR Group.
Work with key brokers and cedants to grow the property individual certificate portfolio in a profitable way.
Delegate underwriting authority to staff, and work with Referral Underwriting Team to ensure underwriters have a clear understanding of underwriting and pricing guidelines and are proficient in the use of all applicable underwriting and pricing tools.
Ensure underwriting practices are consistent with MR Group, MR US P&C, and MR F&C guidelines, Best Practices, and underwriting strategies. Identify deficiencies in underwriting, implement corrective actions, and provide guidance/training for the development of underwriters.
Take the lead in creating solutions and resolving problems involving other functional units such as Treaty, Client Management, Underwriting Support, Pricing, etc.
Provide insight into the quantitative and qualitative analyses of results for F&C NA.
Work with Division management to develop a Business Plan for Individual Certificate and a Prospect List of Property Individual Certificate cedants as well as initiatives to ensure future success of F&C.
This position may also have underwriting responsibility for key accounts as assigned and agreed to with the Head of Property Fac as appropriate.
Qualifications:
BS/BA preferred, advanced degree a plus. CPCU, ARe designations preferred.
10+ years industry experience, 7+ in reinsurance. Primary insurance experience and knowledge of program business is a plus.
Underwriting expert level knowledge of applicable Property Lines of Business.
High level of actuarial understanding and demonstrated competency using MRAm pricing tools.
High level of reinsurance contract (terminology) understanding and ability to develop alternative clauses where necessary.
Experience in managing people, leading cross-functional projects plus strong interpersonal and social skills, solid negotiation, oral and written communication skills, understanding of accounting, finance, and actuarial concepts.
Facultative Individual Certificate and Facultative Program experience is preferred.
Experience working with Brokers is required.
In-depth knowledge of the US insurance and reinsurance markets. Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals.
Ability to explain complex transaction structures to both technical and non-technical audiences.
Required to travel to branch offices and for audits and client and broker visits (approx. 25% of time).
The salary range posted below applies to the Company’s NYC location.
The base salary range anticipated for this position is $246,500 - $361,500 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.
Apply now!
#J-18808-Ljbffr
We will consider candidates in our Chicago or NYC, NY offices.
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. We will consider a range of experience for this role and the offer will be commensurate with that.
The Company
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.
Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. By aligning our single risk business in one unified team, we better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.
The Opportunity
In this role, the Facultative Property Underwriting Team Lead will lead a team of underwriters that is part of the Global Facultative & Corporate Division (MRF&C) to achieve business unit goals. They will be accountable for a book of business by managing the underwriting of profitable business, achieving the goals as set forth in the business plan, and managing, developing, and retaining talent.
Key Responsibilities of this position include:
Manage the underwriting process within the Individual Certificate portfolio in line with F&Cs risk appetite, efficiency goals, and market strategy to achieve a balanced, well-diversified, and profitable portfolio in all market cycles as well as underwriting and pricing integrity of the portfolio.
Establish clear performance and professional development goals and milestones for all employees. Mentor underwriters and support the development of talent across the MR Group.
Work with key brokers and cedants to grow the property individual certificate portfolio in a profitable way.
Delegate underwriting authority to staff, and work with Referral Underwriting Team to ensure underwriters have a clear understanding of underwriting and pricing guidelines and are proficient in the use of all applicable underwriting and pricing tools.
Ensure underwriting practices are consistent with MR Group, MR US P&C, and MR F&C guidelines, Best Practices, and underwriting strategies. Identify deficiencies in underwriting, implement corrective actions, and provide guidance/training for the development of underwriters.
Take the lead in creating solutions and resolving problems involving other functional units such as Treaty, Client Management, Underwriting Support, Pricing, etc.
Provide insight into the quantitative and qualitative analyses of results for F&C NA.
Work with Division management to develop a Business Plan for Individual Certificate and a Prospect List of Property Individual Certificate cedants as well as initiatives to ensure future success of F&C.
This position may also have underwriting responsibility for key accounts as assigned and agreed to with the Head of Property Fac as appropriate.
Qualifications:
BS/BA preferred, advanced degree a plus. CPCU, ARe designations preferred.
10+ years industry experience, 7+ in reinsurance. Primary insurance experience and knowledge of program business is a plus.
Underwriting expert level knowledge of applicable Property Lines of Business.
High level of actuarial understanding and demonstrated competency using MRAm pricing tools.
High level of reinsurance contract (terminology) understanding and ability to develop alternative clauses where necessary.
Experience in managing people, leading cross-functional projects plus strong interpersonal and social skills, solid negotiation, oral and written communication skills, understanding of accounting, finance, and actuarial concepts.
Facultative Individual Certificate and Facultative Program experience is preferred.
Experience working with Brokers is required.
In-depth knowledge of the US insurance and reinsurance markets. Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals.
Ability to explain complex transaction structures to both technical and non-technical audiences.
Required to travel to branch offices and for audits and client and broker visits (approx. 25% of time).
The salary range posted below applies to the Company’s NYC location.
The base salary range anticipated for this position is $246,500 - $361,500 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.
Apply now!
#J-18808-Ljbffr