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Surety Business Solutions Specialist

Location New York, United States Job type Full-Time Work mode Hybrid Job level Professional Job ID 10563 Company Munich Re Specialty - North America Employment type Regular Area of expertise Operations & Product Management
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All locations New York, United States; Philadelphia, United States; Princeton, United States;

The Company is open to considering candidates in Philadelphia, PA, Princeton, NJ and New York City, NY.

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!

The Business Solutions Specialist. You will be responsible for supporting the administration of the Surety Department in alignment with the company’s surety business model to achieve projected profitability and expense goals. This role works closely with the Head of Surety to balance operational and strategic priorities, ensuring budgeted financial results are met, including premium volume, loss ratio, premium collections, and expense management (including commissions).

Through ongoing efforts to enhance and improve overall operations, you will coordinate and delegate tasks effectively to reduce operational expenses and drive profitable outcomes. In addition, you will serve as the lead in coordinating the Surety Department’s collaboration with other teams within the Group, including IT, Operations, and Risk Management.

Responsibilities

In this position you will:

  • Develop and execute strategies that improve overall operating efficiencies
  • Maintain and improve the use of our Surety Underwriting System
  • You will serve as the lead point of contact for ongoing cooperation within the Group, working in coordination and collaboration with other business teams.
  • Work directly with the Operations Teams to improve accuracy and efficiencies and continue to develop and improve new and existing standard operating procedures (SOP’s).
  • Collaborate with Group Surety colleagues in order to fully leverage MRS-NA surety capabilities and increase our customer base
  • Manage all aspects of agency appointments and Power Of Attorney
  • Develop and implement long term-strategic initiatives designed to support continued growth and expansion of the surety department

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.

Qualifications

  • Bachelor’s degree in Business Administration, Economics, Finance, Accounting, or related field
  • 7+ 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 colleagues
  • Works independently, with guidance in only the most complex problems
  • Interprets internal/external business challenges and recommends best practices to improve services
  • Ability to think strategically and function tactically
  • Exceptional communication skills that energize and engage colleagues and the ability to convey a vision and focused solutions
  • Effective time management and organizational skills
  • Willingness to travel up to 10%.

The Company is open to considering candidates in Philadelphia, PA, Princeton, NJ and New York City, NY. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $104,200 - $166,100 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, 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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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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