Actuarial Analyst Sr - Digital Underwriting

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face.

About the role

We are looking to hire a Sr Actuarial Analyst to provide actuarial pricing/rating support for Munich Re Specialty-North America (MRSNA). Support Digital Underwriting by analyzing, evaluating, modeling and rating potential competitive solutions for our clients. This individual will support profitable growth across existing and new programs in support of Munich Re Group’s multi-year strategy.

Responsibilities

• Partner with the business unit as a trusted advisor to drive pricing excellence for Digital Underwriting, including Excess & Surplus Homeowners, Commercial Property and General Liability lines of businesses.
• Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and trend studies with some guidance. Communicate results of analyses to stakeholders.
• Participate in development and update of actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.
• Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in understanding and steering business. Document and communicate assumptions, results, and alternatives to actuarial staff and internal and external clients.
• Identification of data issues requiring specialized actuarial attention.
• Perform research on relevant competitor rates and industry trends which will serve as benchmarks for pricing.
• Provide actuarial insight and expertise on actuarial assumptions and parameters as participant on a Market Research Analysis and Parameters (MRAP) line of business group.
• Work closely with underwriting, data science and engineering teams to resolve any issues during testing and integration of the pricing models and algorithms.

Qualifications

• Bachelors Degree in Mathematics, Actuarial Science, Economics, Business or related field.
• Passed at least four (4) Casualty Actuarial Society exams.
• At least three (3) years of insurance/reinsurance and actuarial pricing experience.
• Good technical actuarial skills.
• 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.
• Proficient computer skills in MS Office Suite, including PowerBI to be used for ratemaking, pricing, modeling stochastic distributions or data analysis.
• Experience in use of R, Python, SAS or other statistical software in insurance pricing applications is preferred.
• Excellent oral and written communication skills.
• Good judgmental and problem-solving skills to address potentially complex and high-profile issues.
• Good time management and organizational skills including the ability to manage conflicting priorities, complete multiple tasks and projects.

The Company is open to considering candidates in New York City.

Pay

The base salary range for this position is $96,100 - $140,900 plus opportunity for company bonus based upon a percentage of eligible pay. 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.

Benefits

• Health insurance coverage with two options (PPO or High Deductible).
• Prescription drug coverage included in health insurance plan.
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary at no cost.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans available for purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement health and life insurance (Accident, Critical Illness and Hospital Indemnity).
• 401k plan with up to a 5% employer match.
• Retirement savings plan that is 100% company funded.
• Paid time off starting at 24 days each year, with additional days added for milestone service anniversaries.
• Yearly bonus eligibility.
• Health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• Corporate matching gifts program for charitable donations.
• Paid time off to volunteer in your community.