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Head of Modeling and Analytics, MRSI

Company: Munich Re
Location: Princeton
Posted on: April 8, 2021

Job Description:

Head of Modeling and Analytics, MRSI Location
New York , United States Your job * We will consider candidates in New York, NY or Philadelphia, PA.

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.

The Insurance Operations

Munich Re US has established an insurance organization described as Munich Re Specialty Insurance that is uniting the strengths and expertise of Munich Re's specialty commercial teams in North America under a common management structure. This will allow for the development of an overarching sales strategy through which our specialty risk appetite and product offerings can be profitably optimized and expanded.

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

The Head of Modeling and Analytics will lead the organization's underwriting, claims and distribution analytics efforts and manage our predictive models, actuarial tools and methods and legacy reporting to impact overall business results. She or he will identify and integrate data into our business, identify insights and enable actionable analytics and champion our cultural attribute of informed risk taking. This role is a key member of the corporate underwriting leadership team and reports to the Chief Underwriting Officer.

He or she will communicate effectively with others across the organization, from executive management to the individual user, to leverage the analytics experience to enable analytics-driven decision making through implementation of dynamic and pragmatic steering tools that help us achieve our corporate goals. This person will collaborate closely with our Data Hunting function to identify relevant external sources of data to incorporate into our predictive models. She or he will also work closely with our Data Architects and Engineers to ensure that the relevant data is available for use by the analytics team and other business users.

This person will lead ratemaking tool and method innovation across MRSI in coordination with the business unit and actuarial teams with a focus on effective synchronization. He or she will oversee and drive initiatives to educate underwriting and support functional units in order to empower business leaders through modeling and analytics.

Key to the achievement of our goals to become a digital enterprise which leverages data analytics in order to make decisions about current and future risks, claims handling, operations and distribution approaches, you'll be empowered and expected to support and add to our culture of innovation and the data vision for the future.


In this position you will:

  • Lead, manage and coach a team of analytics professionals, developing top talent and creating an attractive proposition for employees and external hires.
  • Set vision for analytics function, including clear expectations on behavior and performance to support pricing, risk selection, distribution, claims, and operations.
  • Work closely with other leaders in the company to identify and prioritize data-driven initiatives which support business goals. Educate leadership on use of portfolio steering options.
  • Articulate the link between the company's data-related technical capabilities and business needs in order to drive a culture of informed risk taking and support data-driven decision and solutions.
  • Oversee Tools and Methods across MRSI, including:
    • Method/tool optimization with the goal of simplifying, integrating and leveraging methods and tools across MRSI BUs
    • Partner with Actuarial on methodology implementation and updates
    • Partner with Actuarial to refine pricing benchmarks and allow greater segmentation leveraging Munich Re's Line of Business Expert (LOBE) groups and other data insights
    • Develop and maintain scenario testing capabilities
    • Oversee pricing tool landscape priorities including underwriting and rating parameters
    • Coordinate with Actuarial to manage pricing tool governance and health, including contributing to model risk management
    • Collaborate with digital enablement data architecture and engineering teams to find innovative ways to impact the business through new data-driven approaches for the purpose of generating business insights through data analytics, and addressing unanswered business issues in a proactive manner.
    • Keep abreast of new analytics capabilities, and drive implementation of new tools and methods to maintain the company at a competitive advantage. To be successful, the candidate must understand how data models can support admitted and surplus lines pricing plans within regulatory constraints.
    • Understand the data available for the enterprise and how it can be leveraged to support the organization's missions.
    • Act as a liaison to regional and global Munich Re data and analytics teams, including forward-looking strategies such as our "data hunting" team. There is no appetite to replicate teams or resources that exist at scale regionally or globally.
    • Conduct showcases of company's analytics capabilities, so leaders know what is available.
    • Maintain relationships with members of the organization who perform analytics work to understand their needs and find ways to improve their capabilities and output quality.
    • Be the central MRSI contact point for data hunting and other regional analytics teams. Your profile Successful candidates should possess the following skills/capabilities:
      • Bachelor's Degree in mathematics, actuarial science, economics, finance, statistics or related field requiring modeling, programming or quantitative analysis
      • 12 years of analytics experience preferred including business intelligence, data mining, modeling, rate making and/or using predictive analytics tools.
      • 6+ years of applicable insurance experience.
      • Experience in the execution of core and advanced analytics initiatives, leading to the development of useful insights and the improvement of a business's performance and growth.
      • Technical knowledge paired with business acumen - find ways to leverage data the company has available to solve business problems.
      • Deep experience in either a technical pricing/actuarial or claims analytics function strongly preferred.
      • Collaborative personality - work with other members of the organization to drive business value from analytics.
      • Relevant credential such as FCAS, ACAS or CSPA is preferred
      • Business visionary - envision how analytics can change the company's business model
      • Technical and management ability to lead a team of data scientists, analysts and actuaries to help design and implement an efficient and credible flow of data across the organization utilizing industry best practices.
      • Good technical background and understanding of data architecture and how it can be leveraged.
      • Strong communication skills to articulate value of analytics to different business leaders and facilitate the use of analytics in developing business plans and strategies.
      • Experience managing a team of analytic professionals and ensuring value added results.At Munich Re US, we see Diversity 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. About us Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.

        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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products. Apply now!

Keywords: Munich Re, Trenton , Head of Modeling and Analytics, MRSI, Other , Princeton, New Jersey

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