Principal Actuarial Consultant

Company:

Oliver Wyman

Description:

Principal– Property & Casualty Actuarial Consulting

Location: Dallas, Houston, Charlotte, Atlanta, New York, Philadelphia, Boston, Chicago, Minneapolis, Milwaukee, and St. Louis

Company Overview  

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 assessment 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.

Summary

Oliver Wyman’s Property & Casualty Actuarial Practice is seeking a high-performing Principal to lead complex client engagements, drive business growth, and help shape the future of actuarial consulting through innovation and AI-enabled solutions.

This role combines deep actuarial expertise with strategic leadership, client relationship management, and business development responsibility. The ideal candidate is a commercially minded leader who can oversee large client portfolios, develop trusted executive relationships, mentor teams, and identify opportunities to expand the practice’s impact across the insurance ecosystem.

In addition to delivering traditional actuarial services such as reserving, pricing, and capital modeling, this leader will help modernize delivery approaches by leveraging analytics, automation, and emerging AI technologies to create more scalable, data-driven client solutions.

 Responsibilities

Client Leadership & Delivery

• Lead large, complex actuarial engagements for insurers, reinsurers, captives, self-insured entities, and corporate clients.
• Serve as the client lead, overseeing project execution, delivery quality, timelines, and client satisfaction.
• Provide strategic guidance and technical oversight across engagements which may include:
  • Loss reserving
  • Pricing and ratemaking
  • Predictive modeling
  • Economic capital modeling
  • Risk analytics
  • Warranty and loyalty programs
  • Translate complex actuarial analyses into actionable business insights and executive-level recommendations.
  • Ensure technical accuracy, data integrity, and compliance with quality standards.

Business Development & Growth

• Drive revenue growth by identifying expansion opportunities within existing accounts and developing new client relationships.
• Partner with regional leaders and cross-functional teams to support strategic growth initiatives.
• Lead or support proposals, RFP responses, client presentations, and thought leadership efforts.
• Build and maintain strong relationships with senior client stakeholders, brokers, and industry partners.
• Contribute to market visibility through conference participation, intellectual capital development, and industry engagement.
• Help shape and execute regional and practice-level growth strategies.

AI, Innovation & Modernization

• Champion the use of AI, analytics, automation, and emerging technologies to enhance actuarial modeling, reporting, and operational efficiency.
• Partner with engineering, analytics, and modernization teams to translate actuarial business needs into scalable technical solutions.
• Identify opportunities to modernize client delivery models and improve the efficiency and quality of actuarial workflows.
• Support development of innovative tools, methodologies, dashboards, and AI-enabled capabilities across the practice.
• Stay informed on industry trends and evolving technologies impacting actuarial consulting and insurance operations.

Leadership & People Development

• Lead, coach, and mentor consultants, managers, and analysts across project teams.
• Foster a culture of collaboration, accountability, innovation, and inclusion.
• Support talent development through coaching, performance feedback, and career mentorship.
• Help build future practice leaders by encouraging technical depth, client leadership, and commercial acumen.
• Contribute to recruiting, interviewing, and onboarding efforts.

Qualifications

Required

• BA/BS degree in Actuarial Science, Mathematics, Statistics, Economics, or related field.
• ACAS or FCAS credential required.
• 10+ years of actuarial consulting or insurance industry experience within Property & Casualty.
• Demonstrated success managing client relationships and leading complex engagements.
• Proven business development experience, including generating new opportunities and expanding client relationships.
• Strong project management and organizational skills, with the ability to manage multiple priorities in a fast-paced environment.
• Exceptional written and verbal communication skills with the ability to influence diverse audiences.
• Strong analytical and problem-solving capabilities with a client-oriented mindset.
• Advanced proficiency in Excel and PowerPoint.

Preferred

• Experience leveraging AI technologies, automation tools, or advanced analytics within actuarial or consulting environments.
• Knowledge of programming languages such as Python, R, SQL, or similar analytical tools.
• Experience working with cross-functional technology or engineering teams.
• Thought leadership or industry visibility through publications, speaking engagements, or professional organizations.

What Success Looks Like

• Trusted advisor to senior client stakeholders and internal leadership teams.
• Strong contributor to regional and practice revenue growth.
• Effective leader of high-performing, collaborative teams.
• Champion of innovation and modernization across actuarial delivery.
• Driver of scalable solutions that improve client outcomes and operational efficiency.

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. 

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. 

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

The applicable base salary range for this role is $180,000 – $250,000. 

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. 

In addition to the base salary, this position may be eligible for performance-based incentives. 

We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.   

Oliver Wyman is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow us on LinkedIn and X. The Actuarial Practice of Oliver Wyman, a Marsh business, 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 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 [email protected] 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.