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For Companies At a Glance
- Tasks: Collaborate on diverse client projects and lead innovative ideas in the actuarial field.
- Company: Join Oliver Wyman, a global leader in management consulting with a supportive culture.
- Benefits: Enjoy flexible career paths, a built-in support network, and opportunities for professional growth.
- Why this job: Make a real impact while working with top-tier clients in a dynamic environment.
- Qualifications: Bachelor's or Master's degree in a related field and 3+ years of relevant experience.
- Other info: Be part of a collaborative team that values diversity and encourages authentic self-expression.
The predicted salary is between 36000 - 60000 £ per year.
Overview
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, 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 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
- 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 McLennan family as we continue to build integrated solutions for our clients
Qualifications
- 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
- Strong modelling skills with practical experience in at least one coding language (e.g., R, Python) would be preferred but not essential
- 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 highly desirable
About Oliver Wyman & Values
- 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.
- 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. At Oliver Wyman, there\’s 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.
- OUR VALUES & CULTURE
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- We create breakthroughs to achieve the amazing.
- Be brave: We stand behind our beliefs while exploring what drives them. We stand up for what is right and persevere through difficulty. We venture into the unknown, staying open to our greatest possibilities. Lead with heart: We build relationships with clients and colleagues that last, grounded in transparency, authenticity, and trust. We love what we do and have fun while we do it. And we combine this passion with rigor and skill to drive sustainable performance. Strive for breakthroughs: We bring deep expertise and profound curiosity to the pursuit of ambitious ideas and uncommon insights. We ask bigger questions, seek diverse perspectives, and challenge ourselves to find the most powerful and sustainable solutions. Work as one: We succeed as a unified team of colleagues and clients, achieving together what separately would be beyond our reach. We care for and develop one another. We learn from differences, overcome divisions, and celebrate our shared achievements. Own your impact: We act as entrepreneurs and stewards of the firm. We own the journey, acting with integrity at every step. And we own our impact, holding ourselves to the highest standards to deliver stronger results for our clients, better opportunities for each other and lasting change for society.
Oliver Wyman is an equal opportunity employer. Our commitment to diversity is genuine, deep and growing. We\\\’re not perfect yet, but we\\\’re working hard right now to make our teams balanced, representative and diverse.
Job type: Permanent
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Actuary - Senior Consultant - UK Life employer: Oliver Wyman
Contact Detail:
Oliver Wyman Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Actuary - Senior Consultant - UK Life
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, attend events, and engage with professionals on platforms like LinkedIn. The more people you know, the better your chances of landing that dream job.
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their values and how they align with yours. This will help you stand out and show that you're genuinely interested in being part of their team.
✨Tip Number 3
Practice your problem-solving skills! As an actuary, you'll need to demonstrate your analytical abilities. Work through case studies or mock interviews to showcase your thought process and approach to complex problems.
✨Tip Number 4
Don't forget to apply through our website! We want to see your application and get to know you better. Plus, it shows you're serious about joining our team at Oliver Wyman.
We think you need these skills to ace Actuary - Senior Consultant - UK Life
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the role of Senior Consultant. Highlight your relevant experience in Life Insurance and any specific projects that align with what we do at Oliver Wyman.
Showcase Your Skills: Don’t just list your qualifications; show us how you’ve applied your skills in real-world scenarios. Whether it’s modelling, risk management, or client presentations, give us examples that demonstrate your expertise.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to express your passion for the actuarial field and why you want to join our team. Be authentic and let your personality come through.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands and shows us you’re serious about joining our team!
How to prepare for a job interview at Oliver Wyman
✨Know Your Numbers
As an actuary, you'll be expected to have a strong grasp of financial concepts and modelling. Brush up on key topics like IFRS 17 and Solvency II internal models. Be ready to discuss how you've applied these in your previous roles.
✨Showcase Your Problem-Solving Skills
Oliver Wyman values analytical skills and innovative thinking. Prepare examples of complex problems you've solved in past projects, especially in risk management or capital optimisation. Use the STAR method (Situation, Task, Action, Result) to structure your responses.
✨Demonstrate Your Communication Skills
Outstanding written and oral communication is crucial. Practice explaining complex actuarial concepts in simple terms, as you may need to present findings to clients or colleagues from non-technical backgrounds. Consider doing mock presentations to refine your delivery.
✨Embrace the Culture
Oliver Wyman looks for candidates who align with their values of bravery, collaboration, and authenticity. Research their culture and think about how your personal values resonate with theirs. Be prepared to share how you can contribute to a supportive and impactful team environment.
