Fac Program Underwriter Position
4 days ago
We are seeking a skilled Fac Program Underwriter to join our team at Munich Re America. As a key member of our underwriting team, you will be responsible for underwriting and pricing a portfolio of reinsurance business in accordance with our guidelines, strategy, and profitability standards.
Key Responsibilities:- Underwrite new and renewal business, including risk and coverage analysis and pricing, and provide recommendations for proposed terms within delegated underwriting authority.
- Provide responsive service on all broker and direct client requests.
- Monitor profitability of assigned clients, including audits for program business.
- Work collaboratively with colleagues in other functional areas and across the group, share knowledge by participating in line of business monitoring and product development activities.
- 7+ years of primary insurance and/or reinsurance experience, with at least 5 years of underwriting experience.
- Bachelor's Degree in Business, Insurance, or Risk Management preferred.
- CPCU, ARe designations preferred.
- Demonstrated knowledge of General Liability, Automobile Liability, Umbrella/Excess Liability coverage, and risk analysis.
- Knowledge of common facultative and treaty reinsurance structures and terms.
- In-depth knowledge of the US insurance and reinsurance markets, supported by attending industry workshops/conferences and active involvement in professional societies.
- Excellent oral and written communication skills, with the ability to explain complex transaction structures to both technical and non-technical audiences.
- High degree of intellectual curiosity, combined with critical thinking skills, analytical problem-solving abilities, and strong intuition to flexibly seek new ways to approach underwriting/pricing methodologies.
- Strong ability to interact effectively with clients, brokers, and colleagues.
- Effective time management skills.
- Excellent computer skills.
- Ability to develop and execute plans, and to provide strategic direction to the development and achievement of unit goals.
This position will be located in our Princeton, NJ; Chicago, IL, or NYC, NY offices. The salary range for this position is $150,300 - $220,400, plus opportunity for company bonus based upon a percentage of eligible pay. We offer 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).
We are an equal opportunity employer and strive 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 recruit and develop talent with a focus on providing our customers the most innovative products and services.
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