Expense Planning Analyst Senior

Financial Expense Analyst Senior

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!

Join our team as an Expense Planning Analyst Senior, where you will lead and monitor all aspects of the expense planning process and related controls. In this role, you'll manage the expense planning tool, oversee training and documentation, and ensure accurate monthly reporting and monitoring. Acting as the primary contact for business and functional units, you'll provide guidance and support on expense plan inquiries. You will lead key components of the annual planning cycle, including expense allocations and staff budgets, while collaborating on variance analyses and reporting. Additionally, you will be responsible for monitoring and analyzing monthly expense performance, with a focus on expense variance to budget and prior year. You will analyze trends, investigate variances, and report any anomalies. You will also prepare and deliver monthly expense reports and analysis for senior management. This position offers an exciting opportunity to contribute to the corporate expense function and build strong relationships across a global organization.

Responsibilities

In this position you will:

Lead Expense Planning and Budgeting Activities

• Prepare and report on expense plans and staff budgets.
• Apply global and local expense planning requirements.
• Provide guidance and support to business units during the budgeting process.
• Review expense requests and allocation changes for accuracy; escalate material variances as needed.
• Assist in preparing annual plan exhibits and running expense allocation processes, including required data loads.
• Prepare reconciliation schedules for baseline and final expense figures.
• Ensure compliance with internal controls, including manager reviews and senior management sign-off.
• Maintain documentation for expense planning processes.

Manage Expense Planning Tools and Documentation

• Oversee the expense planning tool to ensure compliance with global and local requirements.
• Coordinate updates and enhancements with relevant stakeholders and IT teams.
• Conduct user training sessions and serve as the primary point of contact for tool-related inquiries.
• Maintain administrative and user guides for the tool.

• Validate expense requests and analyze variances against prior budgets and actuals.
• Utilize reporting tools and systems (e.g., SAP) to run queries and generate insights.
• Collaborate with team members to respond to inquiries from business units and senior leadership.
• Ensure timely and accurate release of monthly budget conformance reports and dashboards.
• Partner with management to implement enhancements and maintain process documentation.

• Support ad hoc and strategic expense-related projects as needed.

Qualifications

Successful candidates will possess the following experience/skills/qualifications:

• 7+ years of financial management experience in an (re)insurance environment.
• Specialty primary insurance experience highly desired.
• Bachelor degree, in accounting, finance or related field, MBA preferred.
• Strong knowledge of IFRS, GAAP and Statutory accounting principles and VBM concepts required. Working knowledge of specialty insurance products highly desired.
• Excellent financial and business analytical skills; strong knowledge of financial, regulatory, accounting practices required. Prior underwriting, consulting, operating, or audit experience a plus.
• Excellent communication (written, verbal and presentation), interpersonal and networking skills at all levels of organizations
• Able to lead, manage and effectively influence peers; able to work independently as well as in a team environment
• Able to manage time effectively, meet deadlines and budget targets
• Able to explain complex transaction structures to both technical and non-technical audiences
• Proficient with MS Office software ( Word, PowerPoint, Excel, Access, Project), SAP BO reporting, Oracle EPM and PowerBI.

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company's Princeton location.

The base salary range anticipated for this position is $104,000- $152,000 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 Princeton, NJ. 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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