Actuarial – Life Insurance Principal

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.

Remote type:
Hybrid
Locations:
Flexible
Time type:
Full time

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.

• 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

• 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

• 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)

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. 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 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  Follow Oliver Wyman on Twitter @Oliver Wyman.

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