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VP, Facultative Property Certificate Underwriter

Atlanta, GA, USA | Munich Re Group

  • Industry:
    Insurance - General
  • Position Type:
  • Functions:
    Risk Management
  • Experience:
    5-7 years
Job Description:
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Your job


*We will consider candidates in Atlanta, Chicago and San Francisco.


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.


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 recently 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, your primary responsibility will be underwriting property facultative reinsurance programs and/or certificate business in the US. Facultative Underwriters are responsible for risk analysis and assessment, coverage evaluation, pricing and marketing to assigned brokers and clients. This position will lead or assist in negotiations in order to maintain and develop a profitable facultative reinsurance portfolio.


Responsibilities:



  • Independently underwrite and price certificate and program business in accordance with corporate, divisional and department guidelines and philosophy.

  • Underwrite new and renewal business, including all tasks associated with risk and coverage analysis and pricing, and provide recommendations for proposed terms within delegated underwriting authority.

  • Review primary policy, reinsurance contract and endorsement wording and ensure authorization accuracy and conformance with guidelines.

  • Refer all business outside of delegated underwriting authority to appropriate referral underwriter.

  • Assess and analyze required risk information and recommend reinsurance solutions to brokers and clients.

  • Maintain complete and accurate business records.

  • Provide insight into the quantitative and qualitative analyses of results for the SBU.

  • Facilitate internal communication and coordination between the SBU, RD, Company and if applicable the MR Group.

  • Collaborate with Claims.

  • Assist management as needed in fulfilling all managerial duties.


Client Relationship Management:



  • Develop and maintain client relationships and develop new sources of business.

  • Provide responsive service on all broker and direct client requests.

  • Monitor profitability of assigned clients.

  • Promote the Group’s capabilities and competencies externally.


Reviews:



  • Participate in peer reviews of team members’ accounts

  • Participate in underwriting reviews of program clients or prospective clients, sometimes in conjunction with the Reinsurance Division


Your profile


Successful candidates will possess the following skills/capabilities:



  • 5+ years of experience in (re)insurance underwriting, broker community or corporate risk market

  • Bachelor’s Degree preferred, advanced degree a plus. CPCU, ARe designations preferred.

  • Proficiency in the use of pricing models, tools and other risk evaluation models.

  • Strong interpersonal skills, excellent negotiation, oral and written communication skills in addition, solid understanding of accounting, finance and actuarial concepts.

  • Ability to manage Client relationships and maintain profitable relationships

  • Experience working with Brokers, Direct Clients or Managing General Agents is required. Required to travel to branch offices, annual client audits, client and broker visits and industry conferences (approx. 20% of time)


The Company is open to considering candidates in numerous locations, including San Francisco. The salary range posted below applies to the Company’s San Francisco location.


The base salary range anticipated for this position is $142,400 to 208,800 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 San Francisco. 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 US, we see Diversity 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.


About us


Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.


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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.


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