Company:

Oliver Wyman

Description:

Location: Remote (preference hybrid in Atlanta, Boston, Chicago, Milwaukee, Philadelphia, San Francisco, Tampa, Washington DC)  

Company Overview  

The Health Practice of Oliver Wyman strives to be the consulting firm of choice for clients and employees, and to be recognized as the premier health 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 a team-oriented 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.  

Our vision is to discover what lies beyond the obvious, achieve breakthroughs for our clients, and persist as an industry leader. Our mission is to be the leader in the integration of actuarial science, data science, and information technology to solve our clients’ most demanding challenges. We combine traditional actuarial principles with non-traditional solutions and communicate honestly and independently. We believe that diverse perspectives and approaches are business imperatives, and these can only stem from a diverse group of people. Investing in our people and local communities while delivering unequaled value to our clients is core to our mission at Oliver Wyman.  

Job Description  

As a Senior Manager, you will work alongside and learn from Oliver Wyman’s industry leaders and other consultants while contributing to a broad range of client projects. You will have significant interaction with Oliver Wyman’s clients, which include top tier insurance companies and regulatory agencies. You will be responsible for overseeing the workflow of projects, managing the completion of multiple workstreams. You will actively support the development of team members, contributing to their professional growth.  

Potential projects may include:  

• Lead the development of pricing and rating processes for level-funded and other group commercial health plans 

• Health insurance product development, modeling, and analysis for the products in the commercial markets  

• Set pricing assumptions, trends, and pricing methodologies  

• Medical and pharmacy claims analysis, including benchmarking to applicable industry experience  

• Feasibility studies for startup operations or expansions of new products for payers, providers, or payer-provider partnerships  

• Support of regulatory changes and implementation  

• Evaluation of provider contracts and the impact of changes on rates  

• Analysis of value-based care and other risk-taking arrangements from both the payer and provider perspectives  

• Opportunity analyses for improved total-cost-of-care management and population health  

• Evaluation of risk scores and assistance with improving risk score coding/capture  

• Evaluation of care management programs  

Qualifications and desired skills   

• Bachelor’s or master’s degree, preferably in Actuarial Science, Mathematics, Statistics, Finance or a related field  

• 7+ years of actuarial experience in the group commercial industry, with a preference for actuarial consulting, and specific experience working with level-funded products 

• Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) credentials  

• Ability to demonstrate autonomy with minimal Principal involvement while managing medium-to-large scale projects/workstreams, generally with higher complexity.  

• A track record of, and 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  

• Strong skills with MS Excel, SAS, SQL, R, Python, VBA or other programming languages  

Why work for Us  

The Actuarial 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.  

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. Members act as “reverse mentors” to Oliver Wyman leaders on a regular basis, ensuring Oliver Wyman continues to embed inclusion issues in its global agenda.  

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.  

In addition to competitive benefits, the Practice is dedicated to the success of actuarial students in their pursuit to become credentialed actuaries. Oliver Wyman offers a competitive study program which includes paid time off for exam study and exam day, financial support for materials, reimbursement of exam costs and salary increases subsequent to passing exams. Financial incentives such as first-time pass bonuses are provided in addition to the generous salary increases. The Practice’s managers understand the demands and dedication required to pass actuarial exams and are supportive and flexible with the actuarial students’ work loads.  

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 base salary range for this role is $152,000 - $210,000   
  
The base pay offered will be determined on factors such as experience, skills, training, location, certifications, education, exams, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives.  

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 $24 billion and more than 90,000 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. 

The Actuarial Practice of Oliver Wyman, a Marsh business, advises clients across a broad spectrum of risk management issues. We are a rapidly growing group with offices expanding 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.

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 [email protected].

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.