• Job Description

  Req#: R_242016

  Company:

  Oliver Wyman

  Description:

  Oliver Wyman – Actuarial Intern - Summer 2024 – US Life

  Company Overview

  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 MarshMcLennan [NYSE: MMC].

  The Actuarial Practice of Oliver Wyman provides customized 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. 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 200 employees across 10+ offices in North America and Asia.

  Job Description

  Job Title: Summer 2024 US Life Intern

  Office/Regions available: Atlanta, Boston, Charlotte, Chicago, Hartford, Kansas City, New York, and Seattle

  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.

  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.

  As an Actuarial 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, 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.

  Skills and Attributes

  • 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

  For more information, please visit our website at www.oliverwyman.com/actuaries.

  Oliver Wyman is committed to the principles for equal employment opportunity and complies with all relevant federal, state, and local laws.

  Marsh McLennan and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.

  The applicable salary range for this role is $1,000 to $1,450 per week.

  The salary offered will be determined on factors such as experience, skills, training, location, certifications, education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis.

• About the company

  Marsh & McLennan Companies, Inc. is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting.

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