Actuary - Senior Consultant - UK Life

Oliver Wyman; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

Oliver Wyman's Actuarial Practice in the UK is expanding, offering exposure to leading insurers, reinsurers, banks and regulators. You will join a team of actuaries and consultants across Europe to analyse complex problems and develop innovative client solutions.

The role involves modelling, capital and financial reporting including IFRS 17, ORSA, and Solvency II, with opportunities to lead projects and contribute to business development.

Qualifications

• Bachelor's or Master's degree in acturial field or related discipline.
• Minimum 3 years of relevant Life Insurance actuarial experience.
• FIA or equivalent qualification preferred.
• Knowledge of Solvency II, ORSA and IFRS 17.

Responsibilities

• Capital and financial reporting, using Oliver Wyman tools.
• Risk management support, including validation and risk appetite reviews.
• Modelling, valuation analysis and strategy support for new business propositions.
• Participate in M&A due diligence and strategic projections.
• Develop and maintain actuarial intellectual capital and data science methods.

Skills

Modelling skills

R / Python

Self-starter

Analytical skills

Leadership

Communication

Education

Bachelor's or Master's degree in Actuarial Science, Mathematics, Statistics, Finance or related field

Job description

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, regulators, private equity firms and many more. You will also have the chance to take the initiative and lead on new and emerging ideas, leveraging the wider Oliver Wyman and Marsh McLennan organisations.

Potential projects may include:

• Capital and financial reporting, leveraging the tools available and developed by Oliver Wyman globally. This will also cover capital optimisation, IFRS 17 and understanding the latest regulatory changes
• Risk management and support, including validation, risk appetite reviews and oversight, as well as emerging practice on climate risk
• New business propositions and life and annuity product development including modelling, valuation analysis and strategy support
• Mergers & acquisitions due diligence including assumption review, management support and strategy, model build, and development of projected UK statutory distributable earnings, Actuarial Appraisal Values and so on
• Transformation of pre and post actuarial model data and processes, including systems and financial reporting integration, analytics, and workflow
• Actuarial model conversions and optimisation
• Client and industry presentations, surveys, case studies and wider marketing support and business development including managing proposals, tenders and other stakeholder management
• Development and maintenance of intellectual capital, including involvement with the latest data science techniques and cutting edge methodologies from quantitative finance
• Supporting other business lines within the Marsh McLennan family as we continue to build integrated solutions for our clients

• Bachelor's or Master's degree, preferably in Actuarial Science, Mathematics, Statistics, Finance or a related field
• Minimum 3 years of relevant Life Insurance actuarial experience
• Either part or fully qualified actuary (FIA or equivalent)
• Knowledge of finance and/or risk management topics, including technical aspects such as Solvency II internal models, ORSA and IFRS 17
• Strong modelling skills with practical experience in at least one coding language (e.g., R, Python) would be preferred but not essential
• Understanding of the insurance industry and the challenges faced by our clients
• Highly motivated and willing to work in a dynamic environment
• Strong background in problem‑solving with demonstrable analytical skills
• Outstanding written and oral communication in both formal and informal settings
• Self‑starter, strong initiative and the ability to take the lead where appropriate
• Experience in reinsurance, capital, and M&A projects is highly desirable

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 specialised expertise in strategy, operations, risk management, and organisation transformation.

The Actuarial Practice of Oliver Wyman provides customised actuarial services and strategic insight, supporting clients as they strive to exceed their business objectives. Our exceptional client and employee retention exemplify our commitment to relationships built on trust, responsiveness, and clear communication.

Oliver Wyman is currently growing its Actuarial department and seeking Actuaries (partially or fully qualified) to join the UK team. This position requires the candidate to work closely with our wider management consulting team, as well as our actuarial teams across Europe and other regions, to independently analyse complex problems and develop innovative solutions for our clients.

WHY WORK AT OLIVER WYMAN?

Working as part of our global, entrepreneurial company, you will do meaningful work from day one. We are looking for individuals who challenge the norm, and constantly strive to build something new for the firm and the world around us.

At Oliver Wyman, there's no "one size fits all" - we hire exceptional people and help them thrive through a built-in support network, flexible career paths, and no barriers to advancement.

We have a collaborative, supportive and impactful team environment - we want you to bring your authentic self to the team and enjoy working alongside diverse and down‑to‑earth colleagues who do serious work, but who enjoy what they do.

OUR VALUES & CULTURE

• We create breakthroughs to achieve the amazing.
• Be brave: We stand behind our beliefs while exploring what drives them. We stand up for what is right and persevere through difficulty. We venture into the unknown, staying open to our greatest possibilities.
• Lead with heart : We build relationships with clients and colleagues that last, grounded in transparency, authenticity, and trust. We love what we do and have fun while we do it. And we combine this passion with rigor and skill to drive sustainable performance.
• Strive for breakthroughs: We bring deep expertise and profound curiosity to the pursuit of ambitious ideas and uncommon insights. We ask bigger questions, seek diverse perspectives, and challenge ourselves to find the most powerful and sustainable solutions.
• Work as one: We succeed as a unified team of colleagues and clients, achieving together what separately would be beyond our reach. We care for and develop one another. We learn from differences, overcome divisions, and celebrate our shared achievements.
• Own your impact: We act as entrepreneurs and stewards of the firm. We own the journey, acting with integrity at every step. And we own our impact, holding ourselves to the highest standards to deliver stronger results for our clients, better opportunities for each other and lasting change for society.

Oliver Wyman is an equal opportunity employer.

Our commitment to diversity is genuine, deep and growing. We're not perfect yet, but we're working hard right now to make our teams balanced, representative and diverse.