Associate

Who We Are?

Oliver Wyman is a global leader in management consulting. With offices in 60 cities across 29 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 wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www.oliverwyman.com.

Job Specification

Practice Group:         Financial Services

Practice:                     Insurance

Location:                    New York

Role:                            Associate, Engagement Manager

Practice Overview

The Insurance and Asset Management Practice provides leading Life Insurers, Property & Casualty Insurers, and Asset Managers with strategic insights to succeed in a rapidly evolving competitive, regulatory, and capital markets environment. Our work spans a range of topics, including strategy development, financial effectiveness, product design and management, operational excellence, underwriting and pricing, and distribution. Recent examples of our impact include:

• Establishing a Greenfield insurer from strategy formulation, technology selection across the value chain, project planning through to implementation
• Designing a multi-year corporate strategy for an Independent Broker Dealer that included product development, distribution and operations and technology components
• Building a generative-AI powered contract review tool reviewing the insurance sections of contracts

Developing a target operating model for the Finance and Actuarial functions of a life insurer to empower them with enhanced data and the technology they need to design products, perform pricing updates, and calculate reserves

The Insurance Practice is seeking Associates and Engagement Managers to support our continued expansion, a strategic priority for the firm. This is an exciting opportunity to be part of a successful team.  For more information about our Practice, please visit https://www.oliverwyman.com/our-expertise/industries/financial-services/insurance-and-asset-management.html

Associate / Engagement Manager Role

Our consulting roles offer excellent career and growth opportunities for talented, highly motivated professionals with relevant prior experience. As a professional member of our firm in the Associate or Engagement Manager role, your initial responsibilities will include:

• Managing the execution of individual project workstreams or projects. This typically includes project / workstream planning and coordination; developing hypotheses; managing data collection, model creation and analyses; conducting primary and secondary research; creatively tackling information limitations; and surfacing insights
• Synthesizing findings into written presentations; reviewing and discussing with clients and other stakeholders; leading client readouts of written presentations or deliverables
• Supporting our Partner group in project delivery through accurate and high-quality execution

Managing and developing junior consultants on individual project workstreams or projects. This typically includes task allocation tailored appropriately by skill sets; output / deliverable review and iteration; constructive feedback sessions; and mentoring / development in consulting skillset and / or insurance industry content or related topics

Desired Skills and Experience

Just as every client project is different, we recognize and value the diversity of backgrounds and skill sets for successful candidates.  We are seeking high-caliber individuals who want to join our winning team.  While specific responsibilities will vary based on previous experience the ideal candidate will have the following: 

• 4-7 years of relevant experience, ideally with a top-tier strategy consulting firm (or other similar organizations with project-based, team-oriented environments)
• Experience with insurance-related topics, such as organizational design, strategic planning, product design, distribution, underwriting, policy or claims administration, claims, risk and capital management, pensions, or reinsurance
• Track record of leading and managing teams, and delivering against tight deadlines in fast-paced, demanding environments
• Strong background in strategic problem solving with demonstrable analytical skills
• Outstanding written and verbal communication skills
• Undergraduate or advanced degree from a top academic program
• Willingness to travel

Unrestricted U.S. work authorization is required for U.S. office locations. Oliver Wyman does not offer sponsorship for this position. Please note that CPT and OPT are restricted forms of work authorization.

Why Work for Us

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. 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.

The applicable base salary range for this role is $190,000 to $240,000.

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, educations, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In additional to the base salary, this position is eligible for performance -based incentives.

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 at US Benefits | Marsh McLennan.

Oliver Wyman is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow us on LinkedIn and X. 

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@marsh.com.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.