Financial Planning Analyst Senior

Financial Planning Analyst Senior

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, (MRSNA) 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!

The Financial Planning Analyst Senior will manage day-to-day financial management activities for MRSNA with a primary focus on assigned units. They will serve as a key financial partner for business unit executives to develop financial plans, analyze actual results and provide insights to support effective steering of the business.

The Senior Analyst will be expected to provide written summaries and present financial results to senior stakeholders across the organization. This role will also contribute to efforts to build/maintain the team's procedures and tools, including development of new monitoring reports.

Responsibilities

In this position you will:

• Drive the development of three-year financial plans for MRSNA.
• Lead effort to develop financial plans for assigned units. Work closely with business unit executives to project portfolio results and quantify impact of planned initiatives.
• Coordinate with actuarial and/or underwriting resources in the establishment of appropriate by-line expected loss ratios (ELRs). Coordinate with MRSI Financial Analyst and Financial Management and Reporting (FMR) - Planning and Controlling to ensure expenses are properly reflected in plans.
• Prepare reports and analysis to assist leadership, Head of Financial Management and FMR - Planning and Controlling with the preparation of consolidated plan results and documents. Ensure timely delivery of plan data, consistent with local and Munich technical requirements.
• Develop quarterly forecast of financial results for assigned units consistent with the quarterly closing process.
• Prepare and present analysis of variance drivers to MRSNA Finance Head, FMR management and Reinsurance Controlling.
• Support MRSNA Finance Head in developing composite view of MRSNA quarterly results and underlying drivers.
• Provide the business unit heads and MRSNA leadership team with reports, analysis and advice on all financial issues with a focus on those related to underwriting performance of the US portfolio.
• Work with the Financial Reporting Analyst, functional experts and business unit leaders to prepare the Quarterly Business Review materials and address all financial matters that arise during normal course of business, including information requests from MRSNA Executive Leadership, FMR and/or Reinsurance Controlling.
• Conduct regular monitoring of results using standard divisional reports and automated reporting tools (e.g., TM1, SAP, Power BI, Oracle, etc.)
• Coordinate closely with key stakeholders to produce reports that effectively support the information needs of unit executives and MRSNA Executive Leadership.
• Partner with actuarial and financial reporting resources to understand linkage across planning, pricing and reported results (e.g. pricing to reserving gap) and serve as a subject matter expert to explain these to non-technical audiences.
• Support efforts to enhance linkages between pricing and financial metrics as respects assigned units.
• Contribute to efforts to maintain the unit's processes, tools and related procedural documentation.
• The senior analyst would be expected to lead team efforts to build and design processes and tools required to meet new requirements.
• Provide guidance and advice to other MRSI Finance staff, as needed.

Qualifications

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

• 7+ years of financial management experience in an (re)insurance environment required.
• Specialty primary insurance experience highly desired.
• Bachelor degree, in accounting, finance or related field, MBA preferred.
• Strong knowledge of IFRS, GAAP and Statutory accounting principles and VBM concepts required. Working knowledge of specialty insurance products highly desired.
• Excellent financial and business analytical skills; strong knowledge of financial, regulatory, accounting practices required.
• Prior underwriting, consulting, operating, or audit experience a plus.
• Excellent communication (written, verbal and presentation), interpersonal and networking skills at all levels of organizations
• Able to lead, manage and effectively influence peers; able to work independently as well as in a team environment
• Able to manage time effectively, meet deadlines and budget targets
• Able to explain complex transaction structures to both technical and non-technical audiences
• Proficient with MS Office software ( Word, PowerPoint, Excel, Access, Project), SAP BO reporting, Oracle EPM and PowerBI.

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company's Princeton location.

The base salary range anticipated for this position is $104,000- $152,000 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 Princeton, NJ. 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.

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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