Oliver Wyman Actuarial – Manager – UK Life

Company:Oliver Wyman

Description:

Company Overview

Oliver Wyman is a global leader in management consulting. With offices in more than 70 cities across 30 countries, Oliver Wyman combines deep industry knowledge with specialised expertise in strategy, operations, risk management, and organisation transformation.

The Actuarial Practice of Oliver Wyman provides customised actuarial services and strategic insight, supporting clients as they strive to exceed their business objectives. Our exceptional client and employee retention exemplify our commitment to relationships built on trust, responsiveness, and clear communication.

Oliver Wyman is currently growing its Actuarial department and seeking Actuaries (partially or fully qualified) to join the UK team. This position requires the candidate to work closely with our wider management consulting team, as well as our actuarial teams across Europe and other regions, to independently analyse complex problems and develop innovative solutions for our clients.

Job Description

You will work alongside, and learn from, Oliver Wyman’s industry leaders and other experienced consultants while contributing to a broad range of client projects. You will gain industry exposure with Oliver Wyman’s clients, which include top tier insurance companies, reinsurance companies, investment banks, law firms, regulators, private equity firms and many more. You will also have the chance to take the initiative and lead on new and emerging ideas, leveraging the wider Oliver Wyman and Marsh businesses.

Potential projects may include:

• Capital and financial reporting, leveraging the tools available and developed by Oliver Wyman globally. This will also cover capital optimisation, IFRS 17 and understanding the latest regulatory changes
• Risk management and support, including validation, risk appetite reviews and oversight, as well as emerging practice on climate risk
• New business propositions and life and PRT/ annuity product development including modelling, valuation analysis and strategy support
• Ability to lead client conversations on certain topics and heavily participate in client presentations and RfP responses
• Mergers & acquisitions due diligence including assumption review, management support and strategy, model build, and development of projected UK statutory distributable earnings, Actuarial Appraisal Values and so on
• Transformation of pre and post actuarial model data and processes, including systems and financial reporting integration, analytics, and workflow
• Actuarial model conversions and optimisation and help clients undertake wider actuarial transformation
• Client and industry presentations, surveys, case studies and wider marketing support and business development including managing proposals, tenders and other stakeholder management
• Development and maintenance of intellectual capital, including involvement with the latest data science techniques and cutting edge methodologies from quantitative finance
• Supporting other business lines within the Marsh family as we continue to build integrated solutions for our clients

Skills and Attributes

• Bachelor’s or Master’s degree, preferably in Actuarial Science, Mathematics, Statistics, Finance or a related field
• Minimum 5 years of relevant Life Insurance actuarial experience
• Fully qualified actuary (FIA or equivalent)
• Strong Knowledge of finance and/or risk management topics, including technical aspects such as Solvency II internal models, ORSA and IFRS 17
• Demonstrated ownership of work streams and ability to support the design of a solution and execute on that design as part of a wider team
• Understanding of the insurance industry and the challenges faced by our clients
• Highly motivated and willing to work in a dynamic environment and ability to motivate others around them
• Strong background in problem-solving with demonstrable analytical skills
• Ability to lead a small team to ensure client needs are met, and our junior staff receive exceptional on the job training
• Ability to manage the various stakeholders with exceptional communication skills - managing the team, the client, and communicating effectively with senior management
• Ability to multi-task and support the team to the best of their ability, in managing its multiple priorities
• Experience in reinsurance, capital, and M&A projects is also highly desirable

WHY WORK AT OLIVER WYMAN?

Working as part of our global, entrepreneurial company, you will do meaningful work from day one. We are looking for individuals who challenge the norm, and constantly strive to build something new for the firm and the world around us. There is no "one size fits all" - we hire exceptional people and help them thrive through a built-in support network, flexible career paths, and no barriers to advancement.

We have a collaborative, supportive and impactful team environment - we want you to bring your authentic self to the team and enjoy working alongside diverse and down-to-earth colleagues who do serious work, but who enjoy what they do.

At Oliver Wyman, a Marsh (NYSE: MRSH) business, we bring deep industry insight, bold innovation, and a collaborative approach that cuts through complexity to help organizations navigate their most defining transformative moments. 

As a business of Marsh, we work alongside the world’s leading experts across risk, reinsurance and capital, people and investments, and management consulting. Together with Marsh Risk, Guy Carpenter, and Mercer, we help organizations build resilience and competitive advantages from every angle. With annual revenue of $27 billion and more than 95,000 colleagues in 130 countries, Marsh helps build the confidence to thrive through the power of perspective. 

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 $27 billion and more than 95,000 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, civil partnership status, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law. We are an equal opportunities employer. We are committed to providing reasonable adjustments in accordance with applicable law to any candidate with a disability to allow them to fully participate in the recruitment process. If you have a disability that may require reasonable adjustments, please contact us at [email protected].

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.