Chief Risk Underwriting Officer

08-Oct-2019

Title

Chief Risk and Underwriting Officer

Job Description

The Company
Were 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.

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.

The Opportunity
Future focused and always one step ahead

As a key member of the Munich Re America Services, Inc. (MRAS) senior leadership team, the Chief Risk and Underwriting Officer reports to the CEO and assumes a strategic role in the overall management and 2nd line of defense Enterprise Risk, including Underwriting Risk, across Munich Re, US P&C Operations. Ensure the quality of underwriting and both internal and external risk management, and assure that all Group underwriting, risk management, protocols, and controls are consistently applied throughout the all US P&C Companies and their subsidiaries. The position oversees risk in insurance and reinsurance business, as well as a diverse and growing number on non-insurance entities. The position must demonstrate creativity and expertise in evaluating innovative approaches to underwriting and risk management.

As the Chief Risk and Underwriting Officer , you will:

• Provide 2nd line of underwriting governance and defense that can provide oversight of the entire Munich Re, US P&C, portfolio.
• Support the CEO with referrals as needed, peer reviewing large or special quotations.
• Review the pricing and underwriting of US P&C Operations where authority is delegated. Lead UW reviews of selected portfolios/LoBs, bringing in underwriting expertise from Munich Re Group. Coordinate special/ad-hoc reviews with 1st line UW, CU MRM and selected underwriters with knowledge in the respective LoB from other entities.
• Monitor underwriting strategy, policy, guidelines and controls for the Munich Re, US, consistent with Group objectives and directives. Oversee completion of Pricing Tool Development projects fully directed by CU Munich.
• Support the US P&C operations in reaching its strategic goals by identifying trends and emerging risks, in order to suggest adjustments as appropriate to underwriting policy and strategy.
• Ensure proper standards and processes are in place with respect to actuarial pricing & underwriting governance.
• Maintain transparent, current documentation of Munich Re, US CEO and BU CEO UW authorities.
• Facilitate the Regional Risk Management Committee. Ensure a highly efficient & effective risk governance function. Report to the Board on Risk.
• Oversee Integrated Risk Management (IRM) as part of the independent control functions in the US P&C Operations and closely cooperate with Group Audit, Compliance and Accumulation Risk Controlling & Identification.
• Production of Risk Strategy & Risk Appetite documents, Regular Risk Reporting internal & external, ORSA.
• Ensure a consistent strategy for managing US P&C risks, including local responsibilities for managing, measuring & reporting on risks consistent with established limits & triggers.
• Support the development of new products and the diversification of our risk profile.
• Develop an effective UW and Risk Management network with each business unit and Munich Re.

Requisition Number

3350BR

Qualifications

Successful candidates will be possess the following skills/capabilities:

• Exceptional Leadership skills, negotiation and influencing skills including a network of internal & external alliances.
• Comprehensive knowledge of traditional risk management principles and practices, regulatory, legal, underwriting and operational risks. Risk knowledge in non-insurance entities.
• 15+ years insurance and reinsurance experience; 10+ years of people management experience.
• 10+ years of broad front line underwriting experience.
• Demonstrated strong hands-on underwriting management experience with in-depth knowledge of insurance and reinsurance underwriting in property, casualty, and specialty lines of business.
• Keen strategic thinking, business acumen and problem solving skills.
• Excellent people skills, with an ability to partner with a dynamic leadership team and manage staff and projects.
• Possess personal values of integrity beyond reproach, credibility, and commitment to corporate mission.
• Excellent communication (written, verbal and presentation), interpersonal and networking skills at all levels of organizations.
• Bachelor degree in Mathematics, Business, Finance, Accounting or related field. FCAS, CFA or advanced degree preferred.

State

New Jersey

Employment Type

Full Time

City

Princeton

Company Name

Munich Re America

Country

United States of America