Actuarial Principal/Senior Principal

Company:

Description:

Job Title: Principal/Senior Principal – Property & Casualty

Office/Regions available: Flexible, but Chicago strongly preferred

Reports to: Global Strategy Development Leader and 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 be required to help develop the business development plan with the regional leader for a targeted expansion, and to help the Region Leader and Central Zone Principals execute the growth strategy. The candidate will also have significant impact on the engagement and interaction with Oliver Wyman’s clients, which include large self-insured corporations, captive insurance companies, (re)insurers, investment firms, state regulators, and healthcare providers.

Potential projects and responsibilities may include:

• Ownership of the business development plan and revenue target for the P&C region with a focus on large account pursuits
• Supervise business development collaboration with senior managers and Principals, while establishing and maintaining knowledge of BD-related engagements across the P&C Practice (e.g., pipeline, marketing content, expertise, etc.) 
• With support from Global Strategy Development leadership, creating and delivering content for monthly updates of business development activity by region, keeping the business leaders updated on activity
• Actively identify and encourage the development of subject matter experts in their chosen field
• Review and validate the work of client deliverables, ensuring technical accuracy and integrity on a wide variety of analyses, templates and exhibits
• Mentorship of junior staff, fostering their career growth and professional advancement through the company
• Prepare and deliver high-quality exhibits and written reports to effectively present findings and recommendation to clients
• 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, economic capital modeling, and loyalty rewards programs. 

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
• 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 additional 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 www.oliverwyman.com/actuaries.

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 www.oliverwyman.com. 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 [email protected].