Actuarial Manager or Senior Consultant - UK P&C

Office: London (hybrid)

Level: Senior Consultant or Manager

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’s Actuarial department is rapidly expanding in the UK and is seeking P&C Actuaries (partially or fully qualified) to join our growing UK team. This is a rare opportunity to be part of a small UK consultancy with big ambitions, and the chance to help build the local business while working within a hugely successful global P&C practice.

This position will require the candidate to work closely with our actuarial teams across Europe and potentially other regions, to independently analyse complex problems and develop innovative solutions for our clients. Our Data & Analytics experts are at the forefront of developing advanced predictive modelling and technological solutions and are working closely with our actuarial teams to deliver innovative solutions in the areas of claims, analytics and data visualisation for insurers.

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 McLennan organisations.

Potential projects may include:

• Capital and financial reporting, leveraging the tools available and developed by Oliver Wyman globally; this will also cover capital optimisation and understanding of the latest regulatory changes
• Independent reserve reviews, plus process transformation and automation initiatives, methodology reviews and customisable reserve implementations
• Development and maintenance of intellectual capital, including involvement with the latest data science techniques and cutting-edge methodologies from quantitative finance
• M&A due diligence work, including management support and strategy, model build, and development of projected UK statutory distributable earnings and future new business value
• Risk management and support, including validation, risk appetite reviews and oversight, as well as emerging practice on climate risk
• Actuarial model conversions and optimisation (Reserving, Pricing, Capital)
• IFRS 17 and Solvency II support, as well as independent expert roles
• Client and industry presentations, surveys, case studies and wider marketing support and business development including managing proposals, tenders and other stakeholder management
• Supporting other business lines within the Marsh McLennan family as we continue to build integrated solutions for our clients

Skills and Attributes (not all essential)

• Bachelor’s or Master’s degree, preferably in Actuarial Science, Mathematics, Statistics, Finance or a related field
• Minimum 2 years of relevant Property & Casualty actuarial experience for Consultant and at least 5 for Senior Consultant and above
• 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
• Strong modelling skills with practical experience in at least one coding language (e.g., R, Python) would be preferred
• SAO Signing certificate or knowledge of the SAO year end process
• Lloyds of London Capital Requirements
• 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

Why join us at Oliver Wyman?

Visit an Oliver Wyman office anywhere in the world and you will feel it: the buzz of people doing work that matters, with a sense of purpose. Our company comprises a diverse mix of talented people from varied backgrounds and areas of expertise who marshal creative thinking and analytical rigor. Our inclusive, collaborative, non-hierarchical culture allows new thinking to surface quickly. The best idea wins, and everybody is encouraged to contribute. This makes Oliver Wyman both an ideal adviser for organizations and an ideal place for exceptional people to realize their potential.

At Oliver Wyman, we lead with heart – we love what we do and have fun while we do it! We also strive for breakthroughs by questioning, seeking diverse perspectives, and finding powerful and sustainable solutions . If you share these values and want to work as one and own our impact at the same time, be brave and achieve the amazing with us!

• We’re individuals who are self-starting, motivated, energetic, entrepreneurial about what we do
• We have the common aspiration to have an impact, leave a legacy and change the world. We have no interest in running a steady-state business. We want to build, grow and shape the environment around us
• We value an environment where every member of Oliver Wyman is encouraged and expected to voice his or her opinion
• We believe that to create a true meritocracy we need to remove artificial barriers to opportunity
• We value people whose lives balance work and non-work activities because we believe they are both more interesting colleagues and are able to make better contributions to the Firm.
• We push ourselves hard to deliver excellence, but we also work to extract the maximum benefit from the flexibility of a project-based business. We provide the ability to take career breaks for personal or family reasons. We fundamentally value each other’s time and are sensitive to how it is used.
• We are an output not input-based culture, have respect for people’s personal decisions, and believe that one's workload must be sustainable. We seek balance for ourselves and our colleagues.

To learn more, please follow us on Facebook, LinkedIn or Twitter: OliverWyman.

Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.

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.

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, 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 reasonableaccommodations@mmc.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.