Counsel

Company



Munich Re America Services



Location



Schaumburg
, United States

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

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

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

Future focused and always one step ahead!

We are currently searching 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 an experienced full time Corporate Counsel to join the Legal & Compliance Team of the Shared Services division in our Schaumburg office reporting to the SVP, General Counsel, Chief Compliance & Risk Officer.

Responsibilities

The Corporate Counsel will assist in providing effective and reliable legal services to clients. This position requires an individual with experience in the Commercial Property and Casualty insurance field with an emphasis on regulatory issues that may impact the organization and stakeholders. Experience with Ocean & Inland Marine, Cyber, Terrorism and Surety (Customs Bonds), products is preferred. As a strategic partner to our business divisions, the ideal candidate will be able to provide legal advice on a wide variety of insurance regulatory matters, including the distribution of our insurance products, the development and maintenance of insurance products, and market conduct examinations. The Corporate Counsel will review contracts as appropriate, address corporate policy and compliance issues, as well as provide legal advice on insurance laws and regulations along the business value chain, from product development to distributing products in the market, supporting the business to achieve its strategic and commercial goals. The Corporate Counsel will also collaborate closely with more senior attorneys on various legal matters.

Responsibilities include but are not limited to the following:

• Work under the direction of senior attorneys while exercising independent legal judgment and providing proactive legal solutions.
• Draft, review, revise, and negotiate Non-disclosure Agreements, Producer Agreements, Insurance related agreements, and vendor and service provider contracts.
• Research of insurance laws, regulations, and case law and provide detailed guidance and analysis to partners and internal clients
• Draft memoranda on discrete legal issues.
• Draft transaction agreements and documents with efficiency and clarity.
• Assists with the development of policy forms and endorsements.
• Manage legal projects.
• Engage with insurance industry regulators and support regulatory compliance efforts.

Qualifications

• 5+ years insurance regulatory legal and transactional experience with an in-house insurance company, insurance brokerage, MGA/Program Administrator, or law firm.
• Must be and remain licensed to practice law and in good standing in home state (Illinois preferably)
• Should preferably have specific insurance industry regulatory and transactional experience, including transactional drafting and regulatory research.
• Knowledge of Lloyd's, PRA, FCA regulatory requirements a plus.
• Ability to analyze insurance coverage issues.
• Knowledge in state-specific data privacy & security laws and foreign data privacy laws/regulations such as GDPR, etc. a plus.
• Exceptional project management skills are needed (working knowledge of SharePoint, Excel, Power Point, Adobe Writer).
• Demonstrated ability to provide practical, business-oriented legal advice that balances legal risk with company objectives.
• Excellent written and verbal communication skills, with the ability to convey complex legal topics effectively to different audiences.
• Proven ability to develop productive relationships with underwriting professionals, senior attorneys, and compliance staff.
• Experience interacting with insurance industry regulators.
• High ethical standards and integrity.

The Company is open to considering candidates in numerous locations, including Schaumburg, Illinois. The salary range posted below applies to the Company's Schaumburg location.

The base salary range anticipated for this position is $125,500 - $189,900 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 Illinois. 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.