Description

Oliver Wyman Actuarial - Life Insurance Principal - Life

Remote type: Hybrid

Locations: Flexible

Time type: Full time

Company Overview

The Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a large and established 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 client and employee retention exemplify our commitment to relationships built on trust, responsiveness and clear communication. The US Life Actuarial Practice of Oliver Wyman works with organizations to manage their insurance risks using advanced actuarial and modeling techniques and has employees across over a dozen offices globally.

Job Description

Oliver Wyman is seeking a talented Principal with a proven track record leading life insurance product development and pricing initiatives. The ideal candidate will bring expertise in all aspects of the life insurance product development lifecycle, including product development, pricing strategies, regulatory compliance, as well as working with sales, distribution and other critical business development areas. The candidate will play a key role in growing Oliver Wyman's footprint as a premier life insurance product development consulting services , by sourcing new projects and client relationships as well as delivering excellent work product.

Projects and responsibilities include but are not limited to the following:

• Be one of the firm's staff with deepest subject matter expertise of life insurance product development and pricing
• Develop new or foster existing client relationships with a focus on clients leading life insurance sales and innovation
• Lead or participate in client business development meetings and develop proposals related to any life insurance related topic
• Review, analyze, and critique financial projections of life insurance products
• Provide thought leadership, including oversight and/or creation of intellectual capital
• Develop and present client and industry presentations, surveys, case studies
• Provide SME support for life insurance mergers & acquisitions and block reinsurance transactions
• Work in partnership with our management consulting and strategy practice regarding life insurance products

Requirements:

• FSA with 12+ years of professional experience
• Robust life insurance product development experience, including but not limited to: developing pricing models, filing new products, managing non-guaranteed elements, developing innovative features for life insurance products, working with sales and distribution partners, experience with illustration, filing requirements and regulatory compliance
• Expert-level understanding of Term, Whole Life, UL(SG), IUL, and VUL product pricing and monitoring is preferred;
• Expert-level understanding of innovation in the sales process to consumers, including accelerated underwriting expertise and MLM programs is preferred
• Expert-level understanding of illustration systems and requirements (especially for IUL illustrations) a plus
• Knowledge of final expense, preneed, COLI/BOLI and life adjacent products helpful
• Knowledge of financial modeling systems
• Strong project management and project team leadership skills
• Ability to manage and develop staff
• Strong written and oral communication skills
• Strong skills with the Microsoft Office suite

Advantages:

• Leadership role within a growing and dynamic consulting practice
• Stimulating work from providing value added services to clients
• Competitive compensation (base salary and annual bonus)

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 more than 6,000 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 Twitter @OliverWyman.

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 $185k -270k.

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, a business of Marsh McLennan (NYSE: MMC), is a management consulting firm combining deep industry knowledge with specialized expertise to help clients optimize their business, improve operations and accelerate performance. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow on LinkedIn and X.

The Actuarial Practice of Oliver Wyman 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 McLennan 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@mmc.com.

Marsh McLennan 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 McLennan 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.