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Financial and Prof Lines UW Lead

Location New York, United States Job type Full-Time Work mode Hybrid Job level Management & Leadership Job ID 12050 Company Munich Re America Employment type Regular Area of expertise Claims & Underwriting
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Financial and Professional Lines - Financial Institutions Underwriter Team Lead
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. 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.


The Opportunity
Future focused and always one step ahead!

With this opportunity, you will lead a team consisting of D&O and Professional Liability Underwriters to further develop the in-force portfolio and implement the strategies for Financial and Professional Lines Single Risk business in the US Primary Insurance market.  This position will work closely with other members of Munich Re’s global Facultative and Corporate Casualty team.  

Responsibilities:

•    Manage the Financial and Professional Lines portfolio in the US.  
•    Implementation of business plans and client and account production strategies to maximize profitable growth.
•    Leadership, management, and development of the team in the US, including coaching, training, objective setting and performance management of assigned staff members.  
•    Active involvement in underwriting of public D&O and Professional Liability insurance transactions and peer reviewing transactions underwritten by team members.  
•    Ensuring close co-operation and collaboration with other teams in NA and the global facultative and corporate network.  
•    Further development, growth, and profitability of a relatively young Financial and Professional Lines portfolio that started in late 2020.
•    Delegate underwriting authority and ensuring that underwriting and production efforts follow corporate underwriting guidelines and established best practices.  
•    Active engagement with brokers and their clients to identify new and interesting business development initiatives.  
•    Further development of existing products and solutions, marketing them in cooperation with the other underwriting teams and supporting cross-team collaboration and innovation initiatives.

Qualifications:

•    Bachelor’s degree 10 + years of insurance and/or reinsurance experience with a strong technical background of underwriting Financial and Professional Lines exposures. 
•    D&O expertise is an absolute must have.  Sound technical knowledge of Financial and Professional Lines business as well as sound knowledge of the related US (Corporate) Insurance Market.  
•    Exceptional communication skills that energize and engage clients and colleagues, and the ability to convey a vision and client-focused solutions. 
•    Ability to develop and nurture working relationships within Munich Re North America and within the broader Munich Re Group.  
•    Ability to think strategically and function tactically.  
•    Strong consultative skills which can be deployed at any level of an organization, including negotiation, creativity, emotional intelligence, adaptability, and problem-solving skills. 
•    Strong analytical skills and quick understanding of key success factors. 
•    Strong track record in developing business and broker relationships. 
•    Good understanding of business economics (i.e. ability to assess business plans, analysis of cornerstones of business models, etc.). 
•    Proven ability to lead / manage people as well as handle day-to-day work with high level of autonomy.  
•    Innovative mindset coupled with ability to explain complex transaction structures to both technical and non-technical audiences.  
•    Ability to travel nationally and internationally up to 30%.  

The Company is open to considering candidates in numerous locations, including New York City (NYC), NY. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $257,800 - $378,100 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 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. 

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:
•    Two options for your health insurance plan (PPO or High Deductible).
•    Prescription drug coverage (included in your health insurance plan).
•    Vision and dental insurance plans.
•    Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
•    Short and Long Term Disability coverage.
•    Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
•    Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:
•    A robust 401k plan with up to a 5% employer match
•    A retirement savings plan that is 100% company funded.
•    Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
•    Eligibility to receive a yearly bonus as a Munich Re employee.
•    A variety of health and wellness programs provided at no cost.
•    Paid time off for eligible family care needs.
•    Tuition assistance and educational achievement bonuses.
•    A corporate matching gifts program that further enhances your charitable donation.
•    Paid time off to volunteer in your community.

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.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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