Oliver Wyman Actuarial – Life Insurance Principal – Life

Marsh McLennan•Boston, MA

5d•Hybrid

About The Position

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. Projects and responsibilities include but are not limited to the following: 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

Requirements

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

Nice To Haves

Leadership role within a growing and dynamic consulting practice
Stimulating work from providing value added services to clients

Responsibilities

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