Insurance Analytics Specialist

Company

Munich Re America Services

Location

Princeton , United States

Analytics Specialist

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.

Job Description:

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

The Company

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

This position is responsible for a breath of work related to the identification, measurement, monitoring, mitigation, and reporting of risks. The Risk Governance & Analytics Specialist manages a wide scope of projects including quarterly risk reporting, emerging risk process, ad-hoc risk reports, Statements of Risk Management, business continuity planning, and Third-Party Risk Management. The Risk Governance & Analytics Specialist provides value-added insight to the business, regarding insurance business practices and enterprise risk management framework. This position supports risk analysis for changes in business practices, regulation, and innovation and contributes ideas to Munich Re’s 2nd line of defense Integrated Risk Management function. The Risk Governance & Analytics Specialist is responsible for leading the alignment of risk reporting; facilitating best practices within IRM; and supporting integration of risk analytics within the risk framework and Non-Financial Risk management process.

Qualifications:

Successful candidates will possess the following experience, skills, and capabilities:

• Bachelor’s degree in relevant discipline such as Business, Finance, Accounting, Actuarial, or equivalent work experience.
• 10 years of Finance, Accounting, Underwriting or other business experience with emphasis on risk management preferred
• Experienced analytical skills and ability to understand mathematical concepts.
• Expert-level proficiency in Microsoft O365 Suite, with ability to leverage advanced features to drive efficiency and productivity.
• Strong expertise in data visualization and business intelligence tools, with ability to design and develop interactive dashboards that inform business decisions.
• Possess a good understanding of enterprise risks in the insurance/reinsurance business and related processes including internal control and risk frameworks.
• Demonstrates executive presence by confidently engaging with senior leaders, presenting complex information with clarity, and maintaining professionalism in high-pressure situations.
• Interaction with a variety of internal and external people in a professional with conflict resolution capabilities to foster mutually satisfactory resolution to risk gaps and issues.
• Clearly and concisely communicate both verbally and in writing complex financial concepts using appropriate language and examples.
• Excellent organizational skills: ability to establish priorities, multi-task, handle competing priorities and follow through on all open items/tasks.
• Proven experience in managing complex projects. Demonstrates the ability to define a problem or situation and logically diagnose the cause and identify a solution.

Responsibilities:

• Complete effective risk management assessments, advice, and strategy recommendations regarding a variety of risk items including mergers & acquisitions, surveys, strategic projects, initiatives, innovation and new products. This includes leading the preparation of quarterly internal risk report ad-hoc Statements of Risk Management, facilitating effective risk meetings with stakeholders, and serve as Risk Manager delegate.
• Lead and drive the risk governance agenda through active participation and facilitation of key committees, including the regional Risk Management Committee (RMC) and other business unit risk forums. Own the development and management of the RMC agenda, working closely with the regional CRO, and guide risk owners to develop compelling, insightful presentation materials that effectively communicate critical risk information. Develop summaries for Board reporting, ensuring transparency and clarity on key risk topics. Proactively review, update, and maintain committee charters to reflect evolving risk landscapes and best practices, implementing changes as needed to ensure alignment and effectiveness.
• Lead the continued effort to streamline and align the Risk Reporting and Risk Governance processes across US Non-Life Operations, partnering with Business Unit Risk Managers and Risk Analysts to drive consistency, efficiency, and effective risk management.
• Collaborate with the Head of Risk Analytics & Strategy to integrate advanced quantitative insights into risk reporting and Non-Financial Risk management, driving improved risk decision-making, and address key risk management gaps and opportunities.
• Ensure Enterprise Risk Management (ERM) Framework and practices are implemented and maintained appropriately. Provide challenge, consultation, and guidance to all operations.
• Manage decentralized resources in the annual Operational Risk Control System (ORCS) cycle for understanding the state of operational controls. Support and effectively challenge the business in the development and completion of Risk Control Self-Assessment including risk identification and strong control design and monitoring for purposes of an accurate and complete inventory of controls and improvement plans. Collaborate with IRM ORCS community.
• Support Third-Party (vendors, business affiliates, outsourced functions) Risk Management and business continuity management.
• Maintain a sustainable Emerging Risk Process to enable the comprehensive research, analysis and reporting of Emerging Risks impacting each entity with the objective of implementing strategies to mitigate adverse impacts. Partner with Innovation team in support of new product development.

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.