Oliver Wyman Actuarial - Principal/Senior Principal - Property & Casualty

Company:
Oliver Wyman
Description:

Office/Regions available

Flexible, but Chicago or Midwest strongly preferred
Reports to

Region Leader
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 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.
Oliver Wyman provides customized 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.
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 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.
Job Description

Oliver Wyman is currently seeking an experienced consultant to join the Property & Casualty Actuarial Consulting Practice as a Principal/Senior Principal.
This position will oversee a portfolio of business and play a crucial role in engaging and interacting with Oliver Wyman's clients, which consist of large self-insured corporations, captive insurance companies, and (re)insurers. Additionally, this position necessitates experience in business development to implement the growth strategy effectively.
Potential projects and responsibilities may include:
Leads complex client engagements, including managing overall service delivery and strategy for projects associated with calculating risk, determining ideal liability/claims reserve for a range of property and casualty risk exposures, and developing products for monitoring ongoing liability (such as dashboards).
Drives project management best practices in providing timely direction and guidance to ensure deadlines and service standards are met or exceeded.
Manages day-to-day client contact/management to resolve project-related questions and challenges and may coach junior staff members in client interactions.
Develops, reviews, and oversees the delivery of high-quality exhibits and written reports or presentations that summarize findings and their implications, ensuring effective communication of insights and recommendations to clients.
Evaluate and verify client deliverables, ensuring technical accuracy and integrity across a diverse range of analyses, templates, and exhibits.
Strengthen client relationships and drive business development activities, including guiding the preparation of proposals and presentations for prospective clients.
Managing a diverse range of actuarial projects, including loss reserving, pricing/ratemaking, predictive modeling, and economic capital modeling.
Drives business development by identifying potential areas of business growth in existing projects, new pursuits, collaborating with colleagues and brokers, responding to requests for information and proposals to achieve a Tier 1 managed revenue target.
Monitors industry trends and participates in development of intellectual capital in order to further develop the company's service and product offerings and recognition in the P&C insurance industry.
Actively identify and encourage the development of subject matter experts in their chosen field.
Mentorship of junior staff, fostering their career growth and professional advancement through the company.
Qualifications and Desired Skills

Demonstrated ability to lead and manage relationships with clients.
ACAS/FCAS credentials or similar qualifications with 10 years of consulting experience focused on Property and Casualty clients, including self-insureds, captives, and (re)insurers.
Proven track record of successfully identifying and pursuing new business development opportunities.
Exceptional organizational skills, with proven ability to prioritize and handle multiple projects in a fast-paced work environment.
Excellent written and verbal communication skills, with the ability to build strong relationships with clients, colleagues, and industry stakeholders.
Proven ability to foster a culture of inclusiveness, innovation, and continuous improvement within the practice and across the broader organization.
Willingness to travel as needed to support client engagements and business development activities.
Self-motivated and proactive, with a demonstrated ability to develop client-oriented solutions.
Collaborative team player, capable of working effectively in a cross-functional environment.
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.
The applicable base salary range for this role is $188,000 to $400,000.
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, educations, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position is eligible for meaningful performance-based incentives.
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
About Oliver Wyman

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 specialized expertise in strategy, operations, risk management, and organization transformation. The firm has 7,000 professionals around the world who work with clients to optimize their business, improve their operations and risk profile, and accelerate their organizational performance to seize the most attractive opportunities. Oliver Wyman is a business of Marsh McLennan [NYSE: MMC]. For more information, visit Follow Oliver Wyman on X @OliverWyman.
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 View email address on chicagocareersite.com.
Oliver Wyman, a business of Marsh McLennan (NYSE: MMC), is a management consulting firm combining deep industry knowledge with specialized expertise to help clients optimize their business, improve operations and accelerate performance. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow on LinkedIn and X.
The Actuarial Practice of Oliver Wyman 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 McLennan 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 View email address on chicagocareersite.com.
Marsh McLennan 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 McLennan 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.

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