Actuarial Manager, Pricing Tools

Actuarial Manager, Pricing Tools

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.

The Company

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.

The Opportunity

Future focused and always one step ahead!

Are you ready for a new challenge? Munich Re Specialty - North America is seeking a talented hands-on manager to lead the strategy and execution of Munich Re Specialty's pricing tool transformation. This is an exciting opportunity to shape and modernize the pricing technology of a leading specialty insurer.

Key Responsibilities:

• Lead the multi-year transformation from legacy to modern, modular, and cloud-based pricing tools.
• Define and execute the strategy for a suite of pricing tools supporting account and portfolio pricing, including manual rating, experience rating, exposure rating, and contract structure modeling.
• Direct and develop a team of actuarial developers to design, build, and implement pricing methodologies and user interfaces that support underwriting and pricing decision-making.
• Partner with actuarial, underwriting, IT, Operations, and third-party stakeholders to define and refine the target solution, establish priorities, and translate business needs into clear requirements and delivery roadmap.
• Establish and execute a governance framework for pricing tool development and change management to ensure delivery is disciplined, scalable, high quality, and aligned to business objectives.
• Own and execute the pricing tool roadmap, prioritizing initiatives and feature development based on business value, user needs, and transformation objectives.
• Drive execution of the target-state architecture by partnering with IT and Operations to integrate pricing tools with databases, benchmark libraries, third-party data, external models, and policy administration systems.
• Champion a user-centered approach to tool design, ensuring interfaces are intuitive, efficient, and effective for underwriting and actuarial users.
• Lead training and adoption efforts for underwriting, actuarial, and other end users to ensure effective use of pricing tools, methodologies, and analytics.

Qualifications:

Successful candidates will possess the following experience/skills/qualifications:

• Membership in the Casualty Actuarial Society required. FCAS preferred. 
• Eight (8) or more years of experience in primary insurance pricing.
• Hands-on experience building web-based pricing tools required. Experience with vendor pricing tool platforms preferred.
• Strong technical actuarial skills and strong knowledge and understanding of rating models.
• Strong interpersonal skills.  Ability to influence and negotiate with others and create acceptance for proposals.
• Proficiency with Python in insurance pricing applications.
• Excellent oral and written communication skills.
• People management experience preferred.

The Company is open to considering candidates in numerous locations, including New York City (NY), Hartford (CT), Chicago (IL), Philadelphia (PA), and Princeton (NJ). 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 $177,700 - $296,100, 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 New York and San Francisco job markets. 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.