Associate Actuary - Insurance Programs

All locations Philadelphia, United States;
Chicago, United States;
New York, United States;
Princeton, United States;

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.

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. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

Future focused and always one step ahead!

We are looking to hire an Associate Actuary to provide actuarial pricing/rating support for Munich Re Specialty-North America (MRSNA). Support Insurance Program business in meeting its goals by analyzing, evaluating, modeling and rating potential competitive solutions for our clients, as well as supporting rate filings. This individual will support profitable growth across existing and new programs in support of Munich Re Group's multi-year strategy.

• Partner with the business unit as a trusted advisor to drive pricing excellence for Insurance Programs.
• 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.
• Support the DOI state filing process by developing/revising rating plans, conducting competitive analyses, providing actuarial filing support and responding to objections.
• Provide actuarial insight and expertise on actuarial assumptions and parameters as participant on a Market Research Analysis and Parameters (MRAP) line of business group.
• Participate in training of others (underwriters, client managers, risk analysts, accountants and actuaries) regarding actuarial analyses and methodologies.
• Pursue formal education via Casualty Actuarial Society (CAS) exams.

• 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 Power
  
  BI to be used for rate making, 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 numerous locations, including New York City (NY), Philadelphia (PA), Princeton (NJ), or Chicago (IL). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $99,700 - $166,100
, 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 is adjusted to reflect the varying market conditions across different locations, with the higher end being more aligned with the NYC job market. Factors that may be used to…