Fac Program Underwriter

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

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. We will consider candidates in New York City (NY) or Chicago (IL).

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. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

Future focused and always one step ahead!

As an Underwriter, you will underwrite and price a portfolio of reinsurance business in accordance with Munich Re guidelines, strategy and profitability standards. You will be responsible for developing recommended risk pricing and terms within appropriate underwriting authority. This includes completing risk analysis and assessment, coverage evaluation and pricing as well as participating in client negotiations in order to maintain and develop a profitable portfolio of reinsurance business.

Underwriting:

• Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
• Produce, underwrite and manage the book of business in compliance with applicable underwriting guidelines, strategies and best practices.
• Perform the underwriting referral function as specified and as required in the underwriting guidelines and mandates.
• Help to fine tune and implement our portfolio strategy.
• Assure a high quality of underwriting through coaching and mentoring, technical guidance, frequent feedback interactions.

Client relationship management:

• Develop and maintain strong market presence by developing client and broker strategies.
• Develop new business opportunities and promote Group's capabilities and competencies externally in close cooperation with Client Management.
• Establish and maintain sound contact with clients and brokers, keeping abreast of market and industry developments and client needs.
• Excellent negotiation skills, facilitating and managing the complexities and challenges associated with offers, terms of contract with Brokers/Clients and, when necessary and feasible, submit counter proposals.
• Demonstrate advanced proficiency in the use of pricing models and other risk evaluation models.
• Strategic decision making based on data interpretation beyond models.
• Participate in and provide significant input for the business plan development.
• Self-Development Planning to achieve business and developmental objectives.

• 10+ years of primary insurance and / or reinsurance experience.
• 5+ years of underwriting experience preferred.
• Bachelor's Degree preferred.
• CPCU, ARe designations preferred.
• Demonstrated knowledge of General Liability, Automobile Liability, Umbrella/Excess Liability coverage and risk analysis.
• Knowledge of common facultative and treaty reinsurance structures and terms.
• In-depth knowledge of the US insurance and reinsurance markets supported by attending industry workshops/conferences and active involvement in professional societies.
• Excellent oral and written communication skills. Ability to explain complex transaction structures to both technical and non-technical audiences.
• High degree of intellectual curiosity combined with critical thinking skills, analytical problem solving abilities, and strong intuition to flexibly seek new ways to…