Company:

Oliver Wyman

Description:

Remote type: Hybrid/Remote

Locations: Flexible, but preferably in US/Canada (New York, Chicago, Montreal)

Time type: Full time

Company Overview:

The Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a rapidly growing practice with offices across the globe. Our actuaries hold the highest professional qualifications and are recognized as experts in their field(s). We use mathematical and statistical modeling skills and our qualitative assessment methodologies to assist clients in evaluating and addressing risk. Our solutions help clients manage and prepare for the potential financial consequences of uncertain future events. We bring a combination of broad-based expertise with specialized knowledge of specific risks, allowing us to provide independent, objective advice in the three primary areas of risk: healthcare, life and annuity, and property and casualty.

The Property and Casualty Consulting Practice assists insurance companies, self-insured corporations, government entities, and other organizations with all aspects of managing property and casualty insurance exposures. We guide P&C clients on their qualitative assessment and quantification of risk and loss exposures, and offer advice on a range of issues, from external business strategy and internal risk management to economic capital modeling and new product development.

Summary

Oliver Wyman’s US P&C Actuarial Consulting Practice is hiring an Actuarial Manager/Senior Manager — Domain Specialist with deep expertise in at least one of these areas: pricing, reserving, or capital modeling. This is an actuarial role centered on technical judgement: validating models and assumptions, challenging outputs, and providing clear actuarial recommendations to senior stakeholders. The Actuarial Manager will work closely with actuarial consultants and analysts to execute projects. The candidate profile aligns with deep hands‑on actuarial experience in reserving, capital modelling or pricing.

Responsibilities

• Provide technical leadership in your area of expertise as you support our practice’s business development and sales initiatives as well as client engagements.
• Validate, challenge and sign‑off model outputs and assumptions (deterministic and stochastic), ensuring appropriate documentation and audit trails for committee and regulatory review.
• Perform and oversee complex actuarial analyses, that meet actuarial standards of practice and prepare thorough actuarial documentation to support your work.
• Lead internal client projects, and review changes made by project teams to ensure our deliverables address business objectives.
• Communicate our actuarial findings and recommendations to key stakeholders, such as finance, risk and senior management.
• Work closely with our actuarial developers: translate actuarial judgement into precise model requirements, review developer changes, and verify implementations through independent testing and reconciliation.
• Prepare clear, executive‑level reports and present findings to senior stakeholders (Reserve Committees, CFO/Chief Actuary level), and mentor junior actuarial staff.

Qualifications

Required

• Fellowship in a recognized actuarial body (e.g., FCAS/FIA) or equivalent senior actuarial qualification.
• Substantial hands‑on experience in reserving, pricing and/or capital/regulatory modelling within P&C insurance or reinsurance (multiple years’ operating independently on core actuarial processes).
• Strong technical skills with actuarial tools and languages (experience with Python, VBA, SQL, or R is advantageous).
• Demonstrated experience preparing actuarial reports or papers and interacting with senior stakeholders and auditors.
• Proven ability to challenge model development teams constructively and to translate actuarial judgement into testable, auditable requirements.

Preferred

• Track record of running innovation or efficiency projects that improved actuarial processes or model robustness.
• Proven mentoring / training experience for junior actuaries and cross‑departmental collaboration.

Why Work for Us

The Actuarial Practice of Oliver Wyman seeks to invest in its people by fostering a safe and inclusive environment, respecting and welcoming different perspectives, promoting an ownership culture,

providing opportunities for individuals to develop their personal brand, and celebrating successes and rewarding performance. There are employee groups for: the LGBT+ community, racially and ethnically diverse employees, women, family life, introverts, and veterans of military service at Oliver Wyman.

Oliver Wyman offers a performance-based pay program that rewards colleagues for the contributions they make to our business results, including year-end bonuses based on personal and corporate performance. We also offer an impressive array of benefits. Explore all the benefits offered at US Benefits | Marsh McLennan.

For more information, please visit our website at www.oliverwyman.com/actuaries.

Marsh McLennan is committed to embracing a diverse, inclusive, and flexible work environment. We aim to attract and retain the best people regardless of their sex/gender, marital or parental status, ethnic origin, nationality, age, background, disability, sexual orientation, gender identity or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting TANA@mmc.com.

The applicable base salary range for this role is $125k -$200k.

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis.

In addition to the base salary, this position may be eligible for performance-based incentives.

We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.

Oliver Wyman is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $24 billion and more than 90,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow us on LinkedIn and X.

The Actuarial Practice of Oliver Wyman, a Marsh business, advises clients across a broad spectrum of risk management issues. We are a rapidly growing group with offices expanding across the globe. Our actuaries hold the highest professional qualifications and are nationally recognized as experts in their field(s). We use mathematical and statistical modeling skills and our qualitative assessment methodologies to assist clients in evaluating and addressing risk. Our solutions help clients manage and prepare for the potential financial consequences of uncertain future events. We bring a combination of broad-based expertise with specialized knowledge of specific risks, allowing us to provide independent, objective advice in the three primary areas of risk: healthcare, life and annuity, and property and casualty.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.