MRSGM NA VP, Ocean Marine

Munich Re Group • Schaumburg, IL

101d • $185,000 - $250,000

About The Position

Munich Re Specialty Global Markets North America (MRSGM N.A.) is looking for enthusiastic individuals to join us as we grow. As part of Munich Re Group, we are a unique organization providing expertise in specialty and marine lines of insurance as well as surety risks and customs bonds with in-house claims solutions. We are seeking a full time Vice President, Ocean Marine to join the Re Specialty Group Insurance Services division to be a hybrid employee in one of the following US office locations (Schaumburg, IL, New York, NY, Houston, TX) reporting to the SVP, CUO Marine & Specialty.

Requirements

• Surplus lines and Admitted experience
• Licensed Producer or ability to receive home state Agents and producer license within 6 months of hire
• Strong Leadership Skills
• Ability to coach and encourage employees towards improving performance, while managing own objectives
• Understanding of laws and regulations governing class of business and industry
• Ability to negotiate to a mutually beneficial and desired outcome (internal and external)
• Open to collaboration with others at all levels within organization to accomplish common goals
• Production experience
• MGA and Lloyds experience helpful

Responsibilities

• Lead and manage the Ocean Marine Underwriting Team by setting clear guidelines and standards for new and renewal business.
• Oversee and evaluate new and renewal business to ensure risk quality.
• Drive Underwriting Standards across assigned business lines by assuring Underwriting- and Service standards are being met, conducting peer reviews (internal audits) to foster consistent and profitable risk selection.
• Foster a collaborative approach to growing the Ocean Marine Business Lines by communicating with peers, identifying profit and loss trends, developing strategic portfolio growth initiatives and information from your team on changing underwriting standards to drive department profitability goals.
• Review reports on loss ratios, conduct research on market trends and best practices and be the leader in the implementation of innovative underwriting strategies to enhance Ocean Marine portfolio and ensure organization is competitive in the market.
• Build, foster and maintain internal and external relationships within Ocean Marine by leading the delivery of training, utilizing individual credibility to inform on risk exposure decision-making process and leading team to efficiently underwrite business to meet profit goals, service standards, and production.
• Monitor territorial needs and economic changes to ensure future planning aligns with long-range business growth goals for all Regions.
• Manage a culture of service and proficiency by actively leading, coaching, and mentoring direct reports.
• Manage budget and resources by forecasting expenditures and properly accounting for Ocean Marine Expenses/Corporate Expenses.
• Contribute to a positive environment by leading by example; reinforce Munich Re Ocean Marine Culture and Underwriting Standards.
• Build and train your team to build a profitable book of business by accepting or rejecting accounts based on sound underwriting judgement.
• Analyze, price, and evaluate new and renewal business.
• Monitor and assess Ocean Marine profitability, mix of business, compliance, etc.
• Contribute to the enhancement of underwriting tools, platforms, forms, services and standards.

Benefits

• Generous healthcare plans
• Voluntary dental & vision plans
• 401(k) plan
• Flexible spending plans
• Health Savings Accounts (HSA)
• Paid time off
• Paid holidays
• Tuition reimbursement
• Short/long term disability
• Paid Parental Leave
• Employee Assistance Program (EAP)
• Employee Wellbeing Program
• Community involvement
• Life insurance

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree