Head of Financial Management & Strategy

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.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

As a key member of the executive leadership team, the Head of Finance and Strategy reports to the CEO and assumes a key role in the overall financial and strategic management of the company. This position is responsible for the direction of Munich Re Specialty's North America financial functions including, but not limited to planning, implementing, reporting, managing analyzing and controlling all financial-related activities for the company. The role is also accountable for shaping the long term business strategy and steering MRSNA leadership to drive the company's growth, profitability, and overall success.

Responsibilities

Finance

• Lead and set direction for MRSNA's financial management, planning, analysis, budgeting, and reporting functions, in line with MR Group standards.
• Develop, implement, and monitor MRSNA's short- and long-term financial plans and budgets. Assess performance against plan and report results to local, regional and global senior management. Respond to group and regional inquiries regarding actual and plan results.
• Manage processes for financial forecasting, budgets and consolidation and reporting to the Company
• Provide executive management with advice on the financial implications of business activities and make recommendations as appropriate to enhance financial performance and business opportunities, including opportunities for expense efficiencies.
• Evaluate and advise on the impact of long-range planning and strategy development.
• Ensure that effective internal controls are in place and ensure compliance with local regulatory laws and rules for financial reporting.
• Leverage technology and process improvements to maintain an effective back-office function organization that is responsive while supporting long-term efficiency targets. Look for opportunities to reduce internal complexities and enable business-focused solutions.Support and drive Munich Re Group's talent-related goals to create and sustain a high-performance culture and diverse workforce.

Strategic Planning

• Lead and set the direction to provide MRS NA expert guidance for developing, communicating, and executing the company's overall strategic plan .
• Creates and socializes MRSNA's strategic roadmap and product plan within the context of critical business needs, technology needs, pain points, and business impact.
• Builds thought leadership, analysis, and execution capability for identifying market trends, strategic trends, emerging product and platform trends, and new business models which may impact the direction and strategy of MRSNA in the commercial insurance space.
• Develops business cases for strategic priorities and / or capital expenditures in partnership with MRSNA executives; authors strategy white papers to communicate and constructively challenge the Company's strategic initiatives.
• Provides leadership in efforts focused on customer experience definition and market insights capability, platform feature development and prioritization and business process development and automation in the commercial specialty insurance market.
• Supports the President and executive peers in managing board mandates, preparing for board meetings, preparing strategy presentations or papers, external & internal speaker assignments and other external / internal communication and position papers.
• Identifies and evaluates potential business opportunities, partnerships, and collaborations to expand the company's market presence.
• Oversees and leads negotiations and executes strategic alliances that enhance the company's product / service offerings.
• Oversees and leads M&A projects to determine strategic fit at MRSNA.
• May represent MRSNA interests in different internal or external audiences. May represent MRSNA as a speaker, author, or panelist at internal and external events.
• Oversees risks associated with strategic initiatives, ensuring compliance with internal Company governance processes, regulatory requirements, and industry standards.

Qualifications

• Bachelor degree in Finance, Accounting or related field
• 15+ years of financial management experience
• Significant expertise in consulting and leading strategic planning, delivering strategic projects in a commercial specialty insurance market.
• 5+ years of people management experience
• CPA designation
• Strong knowledge of GAAP, IFRS, and Statutory accounting practices required
• Excellent financial and business analytical skills; strong knowledge of financial, regulatory, accounting practices required
• Strong strategic and analytical mindset, good understanding of the US P&C insurance market and excellent project management skills.
• Visionary thinking to anticipate future industry developments and position the company for long-term success.
• Demonstrated ability to lead, innovate, and make decisions to foster and develop more advanced techniques as appropriate for the functional area
• Experience leading target operating model initiatives with substantial positive business results.
• Deep knowledge of insurance platforms integrated and automation technologies as well as insurance end to end underwriting and claims processes.
• Strong expertise in consulting, influencing and / or leading teams in translating a business objective and strategy into a defined services, operating model, product vision and roadmap and then executing on the required roadmap.
• Demonstrated analytical problem-solving skills : identifying opportunities for improvement, applying a disciplined approach to determine root cause, then creating and implementing appropriate corrective actions.
• Strong relationship management and presentation skills. This person will work across a large group of stakeholders, potentially including external partners, demanding strong interpersonal skills, influence management and written / oral communication skills.

The Company is open to considering candidates in numerous locations, including Princeton, NJ and New York City (NYC), New York. The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $294,200-$490,300 , 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 is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the NYC job market. 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.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits :

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse / domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy :

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

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.

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