Financial Lines Pricing Expert
hace 9 horas
About Munich Re Specialty
Munich Re Specialty - Global Markets (MRS-GM) is a leading provider of primary specialty insurance. Our ambition is to become the industry leader, underpinned by a strong strategy, superior products, and industry leaders working in a supportive environment.
A key aspect of our success is a culture that encourages people to be present, bold, and curious, allowing them to achieve their individual goals. We are currently looking for a Financial Lines Pricing Expert to be based in Madrid on a full-time basis, reporting into the Head of MGA Performance.
This role will provide full provision of actuarial pricing and performance management support to our Surety business under MRS-GM, a stand-alone division of Munich Re.
The estimated salary for this position is approximately €80,000 - €120,000 per year, depending on experience.
Responsibilities:
We are seeking a highly skilled Financial Lines Pricing Expert to join our team. The successful candidate will be responsible for designing and developing a world-class pricing tool for Surety business, working closely with the European underwriting team.
The ideal candidate will also support the development and enhancement of technical and commercial pricing capabilities for the Surety products in Europe, with an initial focus in Spain. Additionally, they will assist underwriting teams with product design, ensuring any changes are correctly priced.
The role will involve tracking price adequacy and performance and leading profitability exercises using modelling and reserving techniques, as required. The successful candidate will conduct technical analyses, investigations (e.g. inflation), and independent deep dive reviews.
They will stay current on market dynamics and actuarial developments, including frequency, severity, and exposure accumulation trends, and determine how such trends should be accounted for in pricing. The role requires presenting results to a variety of stakeholders to provide insight and recommendations on pricing and performance-related results for the financial lines product (currently Surety only).
The Financial Lines Pricing Expert will engage proactively and collaborate with relevant stakeholders, with a focus on pricing and performance. They will be able to explain and justify their point of view.
The role also involves conducting actuarial analysis to support the onboarding of additional territories or new MGAs for Surety business and any new financial lines product related to Surety. The successful candidate will participate in Munich Re Specialty projects and initiatives to improve modelling capabilities and streamline pricing processes.
They will contribute to expanding the breadth of actuarial, modelling, and statistical techniques used across the team, engaging and collaborating across the wider Munich Re Specialty pricing and underwriting teams to bring innovation to pricing and underwriting.
The successful candidate will have expertise in pricing Surety insurance, ideally with pricing knowledge of a range of financial lines. Experience in working independently and managing senior stakeholders is essential.
The role requires proven experience with modelling and data used in credit-related products. A good understanding of standard reserving methods for Surety is also necessary. Strong analytical skills and attention to detail, with a proven ability to work collaboratively with underwriters, are essential for success in this role.
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