About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices in 60+ 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 5,000 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 wholly owned subsidiary of Marsh McLennan Companies [NYSE: MMC]. Twitter @OliverWyman.
The Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a rapidly growing practice with offices across the globe. Our actuaries hold the highest professional qualifications and are nationally recognized as experts in their field(s).
Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people regardless of their sex/gender, marital or parental status, ethnic origin, nationality, age, background, disability, sexual orientation, and gender identity.
US Life Practice Overview
The US Life Actuarial Practice of Oliver Wyman works with organizations to manage their insurance risks using advanced actuarial and modeling techniques and has over 130 employees across 10 offices in North America.
The US Life Practice of Oliver Wyman strives to be the consulting firm of choice for clients and employees, and to be recognized as the premier life, annuity and LTC actuarial consultancy by fostering the power of ideas to lead our industry, consistently helping clients achieve their strategic objectives, and gaining trusted advisor status. The practice seeks to inspire an entrepreneurial culture which fosters free flowing ideas, values diversity, and allows for challenges to the status quo. Its colleagues are proud to perform exciting, diverse, and leading-edge work.
Job Title: Summer 2022 Intern
Office/Regions available: Atlanta, Boston, Charlotte, Chicago, Hartford, Kansas City, New York and Seattle
As an intern, you will work alongside and learn from Oliver Wyman’s industry leaders and other experienced consultants while contributing to a broad range of client projects. You will gain industry exposure with Oliver Wyman’s clients, which include top tier insurance companies, reinsurance companies, investment banks, law firms, state regulators, and private equity firms.
Potential projects may include:
- Life and annuity product development, modeling, valuation, and analysis support
- Pricing assumption and model methodology review, including benchmarking to applicable industry and peer experience
- Mergers & acquisitions due diligence including assumption review, model build, and development of projected US statutory distributable earnings and Actuarial Appraisal Value
- Transformation of pre and post actuarial model data and processes, including systems and financial reporting integration, analytics, and workflow
- Actuarial model conversions and optimization
- Long-term care assumption development, in-force block management, modeling, and product development
- Client and industry presentations, surveys, case studies and marketing support
- Development and maintenance of intellectual capital
In addition, all interns participate in our actuarial bootcamp which consists of a series of presentations, case studies, projects and mentorship sessions over a six-week period and aims to give participants a valuable and directly applicable skillset for future employment opportunities within the actuarial industry.
Qualifications and Desired Skills
- Working towards Bachelor’s or Master’s degree, preferably in Actuarial Science, Mathematics, Statistics, Finance or a related field
- Commitment to passing actuarial exams
- Desire for rapid learning, high performance, and professional growth
- Strong written and oral communication skills
- Excellent time management skills
- Understanding of the value of collaboration, and the ability to work effectively in a team setting
- Deep critical-thinking skills and problem-solving ability
- Highly motivated individual and willingness to work in a dynamic environment
- Exposure to MS Excel, MS Access or other database software, VBA or other programming languages preferred
Why Work for Us
The US Life 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.
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 by Oliver Wyman at www.connect.mmc.com
In addition to competitive benefits, the practice is dedicated to the success of actuarial students in their pursuit to become credentialed actuaries. Oliver Wyman offers a competitive study program which includes paid time off for exam study and exam day, financial support for materials, reimbursement of exam costs and salary increases subsequent to passing exams. Financial incentives such as first-time pass bonuses are provided in addition to the generous salary increases. The practice’s managers understand the demands and dedication required to pass actuarial exams and are supportive and flexible with the actuarial students’ work loads.
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. Members act as “reverse mentors” to Oliver Wyman leaders on a regular basis, ensuring Oliver Wyman continues to embed inclusion issues in its global agenda.