Underwriting Governance Analyst

Company



Munich Re Specialty - North America



Location



New York
, United States

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

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.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty - North America, including licensing, regulatory-required, and other information on the operating companies, visit Munich Re Specialty - North America Disclosures

The Opportunity

Future focused and always one step ahead!

The Corporate Underwriting Governance Analyst role will provide key support to Corporate UW Governance team in all aspects of the UW Governance function. The Corporate UW Governance Analyst will build the success of our underwriting teams by incorporating and maintaining consistent standards, managing letters of authority, reducing friction in the underwriting process, and ensuring underwriting discipline across and within our suite of products, as well as support the business plan execution while stressing bottom line profitability.

The Corporate Underwriting Analyst will work closely with the Corporate UW Governance team, and other stakeholders in Corporate Underwriting and functional Business Units. This role will foster continuing development of knowledge of product lines, audit, and governance functions.

We will consider candidates in Princeton, NJ; Philadelphia, PA; Hartford, CT; Chicago, IL and New York, New York.

Key Responsibilities of this position include:

• Manage and Participate in the Audit Process (Internal Business Units): Manage and conduct pre-audit activities, including scheduling and participating in pre-audit meetings with units being audited, coordinating file pulls, and auditing basic portions of underwriting file reviews, including analyzing adequacy of Underwriter's risk selection and account analysis and drafting audit report and findings. Additionally, manage post-audit activities, ensuring recommendation compliance and post-audit action plans are completed on time with agreed-upon owners and dates, and that all remediation actions are tracked and completed.
• Participate in Audit Process (Delegated Business): Participate with UW Governance team in Underwriting Audits on Delegated authority business, including auditing basic portions of underwriting file reviews, including analyzing adequacy of Underwriter's risk selection and account analysis and drafting underwriting review section.
• Maintain, Analyze and Report Audit Findings Database: Use audit data to identify and analyze trends and assist the CU team with executing remediation actions. Collaborate with Corporate UW Governance team to review UW accounts, compile audit review findings, recommend remediation measures, and create and distribute audit reports.
• Write and Distribute Audit Reports: Participate in the drafting of the audit reports for internal business units and ensuring all content writers have submitted their parts, and then distribute the reports to the correct stakeholders.
• Administer Underwriting Authority: Co-lead underwriting authority administration, including creating, updating, and tracking letters of authority/no authority for Underwriters, and manage annual acknowledgments of authority.
• Manage Underwriting Quality Review Process (UQR Process): Manage the underwriting quality review process, including assigning files to underwriting managers, ensuring completion of reviews, and coordinating CU post-review activities.

• Collaborate on Underwriting Governance Projects: Work on ad hoc projects relating to UW Governance, including collaborating with UW Governance team and Corporate UW on underwriting guideline updates to ensure consistency and relevancy to business, as well as ad hoc projects across Product, UW Governance and Training Team.

• Represent the Munich Re brand and Munich Re Specialty Insurance at client events, seminars, meetings, etc.
• Assistance in day to day operations and projects as assigned which could have client, business group, divisional and corporate impact.

Job Requirements:

• Bachelor's degree
• CPCU is a plus
• Minimum 3 years P&C underwriting background, including previous Underwriting experience or Underwriting Assistant/Analyst experience. Prior experience in Underwriting Governance or Underwriting Audit is a plus.
• Strong knowledge of policy wording and structure, policy pricing, underwriting process & guidelines.
• Self-motivated, determined individual who is inquisitive, remains objective and independent, with attention to detail and project management skills, strong aptitude for math and problem-solving skills.
• Strong communication skills, both in writing as well as verbal, and eagerness to work with others in hybrid environment to find constructive solutions.
• Proficiency in enhancing existing processes and feedback loops.
• Ability to develop and foster relationships with key external and internal stakeholders

The Company is open to considering candidates in numerous locations, including Chicago, IL and NYC, New York. The salary range posted below reflects market variations across various locations. This role is designated for either Chicago or NYC and reflects multiple geographies. The offer will be adjusted per geography.

The base salary range anticipated for this position is $66,800 - $122,000, 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 is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the New York City 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.

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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