Associate Actuary - Wholesale & Specialty Insurance

Associate Actuary - Wholesale & Specialty InsuranceWe 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.Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.The Associate Actuary role will have a significant supporting role in the pricing and monitoring of the Wholesale & Specialty Insurance (WSI) business.Key ResponsibilitiesSupport the launch of new products and expand the capabilities of existing products for the Wholesale & Specialty Insurance (WSI) lines of business.Develop and maintain pricing tools for account pricing and portfolio steering.Prepare and complete pricing analyses, including the development of rates, ultimate loss projections and communication of results.Participate in development and update of Actuarial models and databases through formula development, research on methodologies, and collaboration on technical teams.Support result monitoring, pricing and portfolio management projects that will assist underwriters and management in managing and steering business.Document and communicate assumptions, results, and alternatives to actuarial staff and internal clients.Identify data issues requiring specialized actuarial attention.Provide actuarial insight and expertise as a participant on a Line of Business Expert Group.Participate in training of others (underwriters, client managers, risk analysts, accountants, and actuaries) regarding actuarial analyses and methodologies.QualificationsBachelor's degree in related fieldProgress toward membership in the Casualty Actuarial Society, as demonstrated by passing of actuarial exams.Four or more years of experience in insurance pricing, preferably supporting commercial or specialty insurance products.Strong understanding and ability to discuss and apply the use of existing & new actuarial concepts/techniques involving exposure adjustments, trend, loss development, exposure rating, et al with some assistance/guidance.Excellent communication and interpersonal skills. Ability to communicate technical concepts to non-technical audiences in an effective manner.Experience in R, Python, SAS, or other statistical software in insurance pricing applications.Excellent oral and written communication skills.The Company is open to considering candidates in numerous locations, including Princeton (NJ), Philadelphia (PA), Chicago (IL), New York (NY), or Hartford (CT). 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 $101,700 - $169,500, 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 job market. 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 matchA 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.