Oliver Wyman Actuarial - Consultant and Analyst

Actuarial Analyst

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.

Role

Life – Actuarial Analyst Locations:
Chicago

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)

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 (Please note, Life is the only available practice on this application)
• Indicate your preferred office location (please note, Chicago is the only available office on this application.)

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.