Oliver Wyman – P&C Practice – Actuarial Consultant

Location(s): New York City and Chicago are the primary preferred locations for this role. Other possible locations include Charlotte, Boston, Toronto, and other Oliver Wyman office locations. Relocation assistance may be available for qualified candidates.

Company Overview

The Property and Casualty Consulting Practice assists (re)insurance companies, self-insured corporations, government entities, and other organizations with all aspects of managing property and casualty insurance exposures. The practice advises clients on the qualitative assessment and quantification of risk and loss exposures, and provides guidance across external business strategy and internal risk management, including economic capital modeling and new product development.

Position Summary

As a consultant in the P&C Actuarial Insurance Practice, you will work on transformative client projects by developing, validating, and operationalizing actuarial models, methodologies, and workflows. As part of a globally connected practice, you will collaborate with colleagues and clients across geographies, with opportunities to contribute to and deliver projects on a global basis. You will work in multidisciplinary teams and use cutting-edge technologies, including AI, to deliver solutions across actuarial disciplines such as pricing, reserving, and capital modeling.

Responsibilities

• Deliver transformative actuarial solutions: Support client engagements by applying actuarial knowledge, analytical skills, and structured problem-solving to complex insurance challenges. Contribute to actuarial modernization, process automation, AI-enabled actuarial workflows, model transformation, data modernization, and operating model improvement.
• Analyze and interpret complex data: Conduct detailed analyses across large and complex datasets, identify trends, validate results, and develop insights to support actuarial, operational, and strategic decision-making.
• Execute actuarial analyses: Apply established actuarial methodologies, assumptions, and models to produce accurate, well-supported analyses. Use judgment to identify issues, investigate results, and recommend potential solutions.
• Support client engagement: Work directly with clients and internal stakeholders to gather requirements, understand business challenges, and communicate analytical findings clearly. Translate complex actuarial concepts into practical, accessible insights.
• Collaborate across actuarial and technology teams: Partner with actuaries, engineers, data scientists, and other specialists to translate actuarial requirements into technical specifications, test solutions, validate outputs, and support successful implementation.
• Ensure quality and accuracy: Validate data, assumptions, calculations, models, and outputs; identify and resolve issues; and ensure work aligns with professional standards, regulatory requirements, and internal best practices.
• Contribute to actuarial innovation: Help develop and enhance tools, methodologies, automation, and AI-enabled solutions that modernize actuarial work, improve efficiency, and create greater value for clients.
• Contribute to high-performing teams: Take ownership of deliverables, manage priorities and deadlines, collaborate across project teams, and build consulting, technical, and industry knowledge to take on increasing responsibility.

Qualifications

• Education: BA/BS degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or a related field.
• Experience: 1+ years of actuarial experience. Commitment to pursuing CAS actuarial credentials with a minimum of 3 passed actuarial exams.
• Communication skills: Exceptional verbal and written skills to convey complex information to diverse audiences.
• Analytical mindset: Strong problem-solving abilities and intellectual curiosity to meet tight deadlines.
• Microsoft Suite: Advanced Excel for data analysis and reporting.
• Organizational skills: Ability to prioritize, manage multiple tasks, and meet project objectives and deadlines.
• AI proficiency: Experience using AI technologies for modeling and analytics.
• Programming: Knowledge of Python, R, and SQL (a plus).

Compensation & Benefits

• Base salary range: $85,000 - $130,000.
• Additional compensation: Performance-based incentives may be available.
• Total rewards (examples): Health and welfare benefits, tuition assistance, 401(k) savings and other retirement programs, and employee assistance programs.

Work Model

Marsh is committed to hybrid work, including flexibility to work remotely and in-office collaboration. Colleagues are expected to be in their local office or working onsite with clients at least three days per week, and office-based teams will identify at least one “anchor day” per week when the full team is together in person.