Business Run-Off Account Executive

Company
Munich Re America
Location
Princeton , United States

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

Business Run-Off is responsible for overseeing Munich Re US's assumed run-off portfolio and developing plans to accomplish its mission. One of the primary objectives is the creation of account strategies and action plans for each year's business plans targeted portfolio.

The Assistant Account Executive will progressively take on more complex, multi-faceted and larger responsibilities for runoff accounts. Grow into a more active role in account management, leading to assumption of full account management responsibilities for BRO clients as directed by BRO management and assigned BRO AEs.

The Assistant Account Executive (AAE) will ultimately be responsible for development of account strategies, implementation of action plans and the overseeing of all aspects of account management on their assigned accounts..

Responsibilities:

Under general guidance the role will:

Account Strategy and Action Plans

partner with other units including Claims, Corporate Reserving, FMR, MRM BRO and others to manage all aspects of assigned accounts

design, prioritize and implement key account strategies for all assigned accounts in line with BRO account management guidelines

be client-facing requiring interaction with clients

Account Monitoring

• Analyze various management reports and data requested/provided by account client to comprehend financial stability/development of account
• Research and assesses intelligence on assigned accounts from industry resources (AM BEST, SNL, Schedule F)

Internal/external Relationship

• Ensure proactive account management with internal partners and external clients
• Participate in account team meetings to execute account strategies (account services, actuarial, claims, financial and legal)
• Provide clear and direct internal/external communication with Cedants, BU and/or MRM Client Executives /Client Managers responsible for current client relationships as warranted
• Interface with SBUs' Management and staff regarding industry information, client intelligence, and business strategies to deliver optimal solutions
• Develop in depth knowledge of the management and organization of each assigned account and any issues related to the business covered
• Establish and maintain a robust network (internal/external)

Commutation Analysis and Execution

• Grow into a more active role in account management ultimately being able to oversee, negotiate, and finalize agreements on commutations, litigations, arbitrations or alternative dispute resolutions as required on assigned accounts

• Bachelor degree and/or equivalent work experience required
• 5 years of Insurance and/or Reinsurance experience in underwriting, accounting/finance, claims, actuarial or equivalent client/account management experience preferred
• Excellent understanding of insurance and reinsurance coverage principles
• Expertise in data management, reporting and analytics
• Excellent presentation, written, and oral communication skill
• Knowledge of MR US insurance & reinsurance operations, claims & accounting systems a plus
• Proficiency with Microsoft software
• Team Spirit
• Willingness to travel (25%)

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.