Munich Reinsurance America, Inc. - Princeton, NJ

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This position will manage the analysis, evaluation and modeling of potential solutions using actuarial methods and processes with a group of Actuaries and Actuarial Analysts charged with providing actuarial support for Munich Re. This position will also manage the performance and professional development for a group of Actuarial Analysts and Actuaries, as well as manage and allocate proper resources to handle multiple tasks and projects. The successful candidate will provide leadership in regard to the training of actuarial staff and the development of actuarial models.

Additional responsibilities are to:
  • Manage and complete actuarial analyses appropriate for the functional area. Direct, develop and implement effective practices for the timely, accurate and professional completion and prioritization of all of the department’s assigned projects
  • Direct the development, creation and format of actuarial presentations to internal & external clients and all levels of management as requested.
  • Manage the development, prioritization, maintenance and enhancement of actuarial models which support the business plan. Develop and build complex models including written specifications for IT.
  • Manage and provide leadership to staff, Division, Actuaries and management of the Company. Work with and address data and operational issues.
  • Manage and/or lead communication and resolution of information, technical issues, and activities between actuarial departments, as well as with internal & external colleagues (business units, IT, UMS, etc).
  • Manage the department in developing new methodologies, products and procedures for Munich Re America. Maintain current knowledge of trends and products in the (re)insurance industries
  • Complete high-level or supervisory peer reviews on actuarial work and provide constructive feedback as needed. Maintain consistency of methods as appropriate. Coordinate with other actuarial areas.
  • Assess the training needs and ensure the technical and professional development of the staff. Lead the department staff in the training of underwriters, Client managers and underwriting assistants regarding actuarial analyses and methodologies. Actively manage exam study-time and continuing education and training of department staff.
  • Responsible for the overall management and technical oversight of actuarial staff including those decisions related to hiring, assessing performance and determining of compensation.
  • Actively participate and serve as a key member in the divisional/unit planning process supported. Determine the actuarial needs of the business units. Plan and build department annual objectives and effectively budget for those needs.

  • Bachelors Degree in Mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring modeling, programming, or quantitative analysis.
  • Membership in the Casualty Actuarial Society with the attainment of Fellowship (FCAS) and membership in the American Academy of Actuaries (MAAA) or a minimum of 6 years of experience as an ACAS.
  • Ten (10) years of (re)insurance/actuarial experience.
  • At least five (5) years of management experience.
  • Expert level of technical actuarial skills and concepts.
  • Strong computer skills and application of MS Office Suite.
  • Strong interpersonal, managerial and leadership skills . Manage and develop an environment within the department which motivates people and promotes good interpersonal relationships between co-workers.
  • Excellent oral & written communication skills.
  • Strong time management skills and organizational skills.
  • Strong knowledge of (re)insurance & products, financial metrics used in insurance and industry data sources.

About this company
We have been serving insureds and self-insured entities since 1917. In 1996 Munich Reinsurance Company acquired American Re and in September...