Business Analyst Specialist

2 weeks ago

Princeton, United States Munich Re Full time
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. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

Munich Re US (MR US) offers 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.

We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.

The Opportunity

Future focused and always one step ahead

Design, develop, and maintain metrics/reports/tools and other adhoc reports as requested in support of various Claims initiatives. Analyze the information contained in these reports and other financial, actuarial, and corporate reports, as well as the reinsurance and insurance systems as requested by Claims personnel.

Requirements
  • Access and analyze appropriate data sources as necessary or as requested in support of Claims initiatives.
  • Work with all affected parties to ensure proper booking of commutations and other transactions.
  • Analyze financial, actuarial and claims data and other reports in support of Claims initiatives. Provide an assessment of the implied financial impact of commutations on MRAm results.
  • Work with FMR and Claims in analyzing and confirming accuracy of key financial measures and figures and recommend proper accounting and claims processing associated with complex commutation transactions.
  • Provide analytical support and insight for client-specific financial/claim audits and special projects.
  • Work directly with internal and client personnel as necessary to ensure compliance with key insurance and reinsurance contract terms.
  • Support the design, development, and maintenance of metrics necessary for monitoring the BRO and overall Claim portfolios.
  • Support the design, development, and maintenance of metrics as requested by Head of Corporate Claims.
  • Complete complex data manipulation required to compare client data to MRAm financial and claim information and investigate drivers of differences.
  • Train Claims personnel on the proper use of customized metrics, reports and other tools and act as key expert resource on internal systems, such as FS-RI, BW, ICO BW, etc. as well as MS Office products, such as Excel, Access, Word, and PowerPoint.
  • Prepare necessary analyses in support of the production of Claims'/BRO's quarterly reporting.
  • Manage and assemble key financial and claim information in support the quarterly Ultimate Estimate Report.
  • Support Claims/BRO planning process as needed.
  • Support the design, development, and maintenance of regulatory compliance reporting.


Qualifications:
  • Bachelor's degree or equivalent prior experience
  • 3-5 years of insurance/reinsurance experience is strongly preferred
  • Working knowledge of MRAm's data sources, especially the new systems (FS-RI, RMnL, BW, ICO BW)
  • Strong working knowledge of insurance/reinsurance accounting, business structures, claim and actuarial practices
  • Extensive experience in extracting and manipulating data for the purposes of analysis, report creation, and report automation
  • Strong knowledge of Microsoft Office (especially Excel and Access)
  • Desire to continue to pursue advancement of technical and analytical skills
  • Experience with contract and coverage interpretation preferred
  • Strong analytical and problem solving skills
  • Strong interpersonal skills
  • Strong oral and written communication skills


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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