Oliver Wyman – P&C Practice – Actuarial Consultant

Location(s): New York City and Chicago are the primary preferred locations for this role. We are also open to candidates based in 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. 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

As a consultant in our P&C Actuarial Insurance Practice, you will engage in transformative client projects, leveraging your technical expertise and strategic insights to develop, validate, and operationalize 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. This role offers the chance to work with multidisciplinary teams and cutting-edge technologies, including AI, to deliver impactful solutions across a wide range of actuarial disciplines, including 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 initiatives such as 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, identifying trends, validating results, and developing insights that support actuarial, operational, and strategic decision-making.

• Execute Actuarial Analyses: Apply established actuarial methodologies, assumptions, and models to produce accurate, well-supported analyses. Develop technical expertise while exercising judgment in identifying issues, investigating results, and recommending potential solutions.

• Support Client Engagement: Work directly with client and internal stakeholders to gather requirements, understand business challenges, and communicate analytical findings clearly. Help translate complex actuarial concepts and results into practical, accessible insights.

• Collaborate Across Actuarial and Technology Teams: Work alongside 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: Perform rigorous validation of data, assumptions, calculations, models, and outputs, identifying and resolving issues and ensuring 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 assigned deliverables, manage priorities and deadlines effectively, collaborate across project teams, and actively build the technical, consulting, and industry knowledge needed 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 effectively to diverse audiences.

• Analytical Mindset: Strong problem-solving capabilities; intellectual curiosity to meet tight deadlines.

• Microsoft Suite: Advanced Excel for data analysis and reporting.

• Strong Organizational Skills: ability to prioritize, manage multiple tasks and meet project objectives and deadlines.

• AI Proficiency: Experience utilizing AI technologies for modeling and analytics.

• Programming: Knowledge of programming languages (Python, R, SQL is a plus)

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.

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 reasonableaccommodations@marsh.com.

Marsh 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.