This position is open to being located in the following locations: Philadelphia, NYC, Princeton, Hartford, or Boston.

We are 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 in the Surety space.

The Company

Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.

The Surety team is one of the businesses being built within MRSI. Focused on a differentiated solution, we are creating a full service Contract and Commercial Surety market with significant capacity and the ability to handle bonds and accounts of all sizes from small/emerging companies to individuals to large co-surety capacity.

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

The Regional Surety Manager will be responsible for the marketing, underwriting, administration, and overall business development of assigned geographic territory in accordance with the company’s surety business model to meet projected profitability and expense goals. You will serve as lead underwriter for assigned region as front line for either the commercial or contract departments or both. The position supports the Head of Surety in balancing the needs to achieve budgeted financial results (premium volume, loss ratio, premium collections and expense management including commissions) through sound underwriting practices in an effort to produce profitable results. You will also serve as lead in Book of Business reviews and assist Head of Underwriting in portfolio management.

Our value proposition includes embedding significant underwriting authority in the position to create an enhanced, new age customer and broker experience. We will do this by providing an enhanced level of autonomy in the position to allow our regional offices to better service our agents and clients using an agile and lean approach.

Your Responsibilities in this position:

• You will develop and execute a strategic business plan in order to expand our surety portfolio and will maintain full P/L responsibility for the region
• You will establish and maintain key surety broker relationships in compliance with guidelines for new and renewal surety business
• You will develop and underwrite a profitable portfolio, coordinate new/renewal business while exercising proper underwriting pricing and discipline in compliance with underwriting guidelines, systems and procedures
• You will hire, develop and train other team members in your region Sr. Underwriters, Underwriters, Associates and Trainees as appropriate.
• You will collaborate with MRSI surety colleagues in order to fully leverage MRSI surety capabilities and increase our customer base

Because we’re committed to finding the best talent, we are open to considering candidates with a range of experience. Compensation, level and accountabilities for the selected candidate will be commensurate with experience.

Successful candidates will possess the following skills/capabilities:

• Bachelor’s degree in Business Administration, Economics, Finance, Accounting, or related field
• 10 years or more of progressive experience working with surety products
• Entrepreneurial skill set, excellent marketing, negotiating and communication skills
• Successful track record of developing and maintaining strong relationships with agents/brokers
• Ability to think strategically and function tactically
• Exceptional communication skills that energize and engage brokers, clients and colleagues and the ability to convey a vision and client-focused solutions
• Ability to present and negotiate complex agreements with brokers
• Effective time management and organizational skills
• Willingness to travel up to 40%

The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $188,300 - $276,200 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available 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).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

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.

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