Oliver Wyman Actuarial – Senior Consultant – UK Life in London

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.

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.
• 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 3 years of relevant Life Insurance actuarial experience.
• Either part or fully qualified actuary (FIA or equivalent).
• Knowledge of finance and/or risk management topics, including technical aspects such as Solvency II internal models, ORSA and IFRS 17.
• Understanding of the insurance industry and the challenges faced by our clients.
• Highly motivated and willing to work in a dynamic environment.
• Strong background in problem-solving with demonstrable analytical skills.
• Outstanding written and oral communication in both formal and informal settings.
• Self-starter, strong initiative and the ability to take the lead where appropriate.
• Experience in reinsurance, capital, and M&A projects is also highly desirable.

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.

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.