Place rack in center of oven and preheat to 350 degrees F.

Use sharp paring knife to score brie with shallow diagonal slices on top. Slice through rind, not into cheese. Repeat with perpendicular lines to create crosshatch pattern.

Transfer brie to small cast iron skillet. Spread preserves over brie and down sides. Top with dried cranberries and walnuts.

Cover with aluminum foil and bake 10-15 minutes until cheese is soft and melty in center. Top with thyme and serve immediately with toasted bread or crackers.