ERGO NA Senior Portfolio Account Manager

Sr Underwriter

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

As the world’s leading reinsurance company with 40,000 employees at over 50 locations in all parts of the world, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty in manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that may be climate change, major construction projects, medical risk assessment or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Make it happen and be part of Munich Re.

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities. 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.

ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide and focuses on its core and growth markets in Europe and Asia. ERGO offers a comprehensive range of insurance policies, pensions, investments and services. With ERGO’s recent acquisition of Next Insurance, ERGO is now entering the North American insurance market for the first time.

The Opportunity

Future focused and always one step ahead!

The ERGO NA Sr Underwriter will report directly to the Head of ERGO NA. This serves a critical function as the primary liaison between ERGO/NEXT and both the ERGO and MRAS underwriting offices. This position is crucial in fostering strong relationships and collaboration with various stakeholders, including local management, claims, actuarial, and underwriting, data solutions teams, and thus plays a key

Responsibilities           

• Serve as the primary contact for ERGO/NEXT within ERGO’s CUO division.
• Coordinate and conduct structured management dialogues with ERGO NA business to set and monitor targets, identify deviations through local reporting, and collaborate with local management to define corrective measures. Ensure follow-up on agreed actions and measures.
• Actively participate to ERGO/NEXT’s squads that are dealing with topics with relevance for the CUO function.
• Provide oversight of the P&L by actively engage with claims, actuarial, underwriting, and data solutions to support ERGO/NEXT.
• Ensure close co-operation and collaboration with other teams within GSI and ERGO Global P&C teams and the corporate Munich Re network.
• Facilitate effective communication and coordination between the local company, Global P&C and other group functions including ERGO International, Controlling, IRM.
• Support and implement underwriting guidelines, underwriting training, underwriting audits, and due diligence, including follow-up actions.
• Actively participate in planning processes and conduct regular monitoring activities.
• Prepare and follow up on meetings with the Board of Directors, ensuring thorough documentation and actionable outcomes.

Qualifications

Successful candidates will possess the following skills/capabilities:       

•            Minimum of 7 years of professional experience in the US P&C industry, with a focus on small commercial lines.

•            Deep experience in Underwriting and Risk Management.

•            Strong analytical and problem-solving skills to identify deviations, assess risks, and define corrective actions.

•            Skilled at navigating cross-functional stakeholders in a matrix structure with a balanced approach to decision-making.

•            Excellent communication and interpersonal skills to serve as a primary contact between ERGO/NEXT and foster collaboration across multiple teams and geographies.

•            Willingness to travel within US and occasionally overseas.

•            Knowledge, skills and other capabilities acquired through a university degree in mathematics or economics and/ or equivalent training in the insurance industry.

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 $144,000- $212,000 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.

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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