Company:

Oliver Wyman

Description:

Company Overview

Oliver Wyman is a global leader in management consulting, with offices in 60 cities across 29 countries. We combine deep industry knowledge with specialized expertise in strategy, operations, risk management, and organizational transformation. Our 7,000+ professionals help clients optimize performance, improve operations and risk profiles, and capture the most attractive opportunities.

Within Oliver Wyman, the Actuarial Practice provides customized actuarial services and strategic insight to insurers, provider systems, regulators, and private equity firms. We bring together actuarial expertise, advanced analytics, and technology to solve complex problems and enable forward-looking decisions.

Our team includes 600+ professionals (including ~300 credentialed actuaries) across 41 global locations. We work closely with Marsh, Mercer, and Guy Carpenter to support clients on strategy, operations, capital efficiency, and large-scale transformation.

Roles

Candidates applying for this role will be asked to rank their preferred practice areas :

• Integrated Consulting Group (ICG) – Actuarial & Strategy Consultant

• Health – Actuarial Analyst

• Life – Actuarial Analyst

Each practice offers a distinct focus area within actuarial and consulting work. Office availability varies by practice, and candidates will be aligned accordingly during the interview process.

Please note: Oliver Wyman does have a Property & Casualty (P&C) practice; however, we are not currently hiring full-time candidates for this group. Candidates interested in P&C work are encouraged to explore opportunities within our ICG practice, which includes exposure to P&C topics, or apply to our P&C internship program.

Integrated Consulting Group (ICG)

Role: Actuarial & Strategy Consultant
Locations: Chicago, New York

Overview
ICG combines actuarial expertise with strategy consulting to help insurers and asset managers modernize finance functions, design products, execute M&A, and improve operations.

What You’ll Do

• Analyze complex business problems using data, models, and structured thinking

• Conduct research and synthesize insights into clear recommendations

• Develop client-ready materials (presentations, models, summaries)

• Collaborate with teams to support project delivery

Example Projects

• Designing target operating models for finance and actuarial functions

• Supporting the launch of new or “greenfield” insurance businesses

• Developing corporate strategies across product, distribution, and operations

• Driving large-scale transformation across actuarial, finance, and technology

Qualifications and Skills

• Currently pursuing a degree in Actuarial Science, Mathematics, Statistics, or another STEM or business-related field

• Class of 2027

• Minimum GPA of 3.5

• At least 1 actuarial CAS or SOA exam passed (or willingness to take actuarial exams) OR interest in pursuing the CFA designation

• Strong interest in both strategy consulting and actuarial applications

• Strong analytical and problem-solving skills

• Excellent written and verbal communication

• Ability to manage multiple priorities in a fast-paced environment

• Collaborative mindset with the ability to work independently

• Technical skills (preferred): Excel; familiarity with R, Python, SQL, SAS, or VBA

*If interested in the ICG, feel free to check out our ICG job simulation here, Oliver Wyman Integrated Consulting Group - Forage , for an immersive experience designed to introduce you to the high-impact work of the strategy, risk, and transformation work we do.*

Life Practice

Role: Actuarial Analyst
Locations: Atlanta, Boston, Charlotte, Chicago, Hartford, New York, Seattle

Overview
Focuses on life, annuity, and long-term care work, including pricing, valuation, and actuarial model transformation.

What You’ll Do

• Develop and run actuarial models for valuation, pricing, and projections

• Analyze results and perform sensitivity testing to assess key drivers

• Support assumption development through data analysis and research

• Prepare clear analyses and contribute to client deliverables

Example Projects

• Life and annuity product development, pricing, and valuation

• Assumption setting and model methodology review

• M&A due diligence and financial projections

• Model transformation, conversions, and long-term care analytics

Qualifications and skills:

• Pursuing or recently completed a degree in Actuarial Science, Mathematics, Statistics, or a related field

• At least 1 actuarial exam passed (required)

• Strong analytical and quantitative skills

• Excellent written and verbal communication

• Ability to manage multiple priorities in a fast-paced environment

• Collaborative mindset with the ability to work independently

• Technical skills (preferred): Excel; familiarity with R, Python, SQL, SAS, or VBA

• Nice to have: Relevant experience in life insurance or actuarial work (not required)

Health Practice

Role: Actuarial Analyst
Locations: Atlanta, Chicago, Milwaukee, Philadelphia, New York, San Francisco, Washington, D.C.

Overview
Advises health plans, providers, and regulators on pricing, risk management, and value-based care using actuarial analysis and advanced analytics.

What You’ll Do

• Build and analyze actuarial models to support pricing and financial decisions

• Work with healthcare datasets (e.g., claims) to identify trends and insights

• Translate technical analyses into clear, client-ready deliverables

• Collaborate with teams to ensure high-quality, timely execution

Example Projects

• Medicare Advantage bid development and commercial pricing

• Medical and pharmacy claims analysis and benchmarking

• Market and regulatory impact assessments

• Provider contract and value-based care analysis

Qualifications and skills:

• Pursuing or recently completed a degree in Actuarial Science, Mathematics, Statistics, or a related field

• At least 1 actuarial exam passed (required)

• Strong analytical and quantitative skills

• Excellent written and verbal communication

• Ability to manage multiple priorities in a fast-paced environment

• Collaborative mindset with the ability to work independently

• Technical skills (preferred): Excel; familiarity with R, Python, SQL, SAS, or VBA

• Nice to have: Relevant experience in health or actuarial work (not required)

Compensation & Benefits

Base salary range (U.S.): $65,000 – $110,000 USD , depending on role, location, exams, and experience.

In addition, we offer:

• Actuarial exam support program (paid study time, exam reimbursement, study materials, first-time pass incentives)

• Performance-based incentives

• Health and wellness benefits

• 401(k) and retirement programs

• Employee assistance programs

Application Process

When applying, please:

• Rank your preferred practice areas (ICG, Life, Health)

• Indicate your preferred office location (please note, office location varies by practice)

Work Authorization

Candidates must have permanent, unrestricted U.S. work authorization. Visa sponsorship is not available for this role. (Please note, CPT and OPT are considered restricted forms of work authorization)

Why join us?

• Come aboard if you are excited by challenges and want to work across different cultures.

• We want you to step out of your comfort zone and embrace your curiosity.

• Our consultants learn on the job and receive formal training to develop their communication, presentation, analytical, and client management skills.

• You’ll find genuine colleagues who stand by their beliefs and measure success by the lasting impact you create together.

• We believe in flexibility, including the opportunity of hybrid working. You are also invited to join our colleague resource groups and social activities.

We hire you to be you

• Our open, inclusive, and down-to-earth culture will enable you to bring your best self to work.

• You’ll work alongside authentic colleagues who do serious work, but don’t take themselves too seriously.

• There’s no corporate mold to fit and hierarchy doesn’t get in the way.

• We do not let artificial barriers stand in the way of your personal career progression.

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.