Senior Consultant, Banking

West Monroe•Chicago, IL

13h•Hybrid

About The Position

West Monroe is seeking a Senior Consultant with Insurance and Consulting experience to join their Chicago office. The Insurance practice is a growing team focused on business and technology projects to transform brokers and carriers and help them adapt to market demands. They assist clients by developing operating models and cost optimization strategies, while also implementing technology, platforms, data and analytics tools, and supporting related change management. The role involves applying knowledge and experience to tailor solutions, helping clients gain a competitive advantage. The consultant will help business and technology executives solve key problems within the financial services industry, mentor junior consultants, and build the practice and their career.

Requirements

Bachelor’s degree or equivalent experience required.
At least 4+ years of experience in a team-based consulting environment and working directly with external clients demonstrating an understanding of the operations of the insurance industry.
At least 2 years of experience in one of the following processes specific to organizational transformation, process improvement, product development, managing teams and work streams, etc.
Ability to manage multiple tasks efficiently, display excellent judgment, and work productively in a fast-paced, team-oriented environment.
Strong organizational skills, detail-oriented, and the ability to handle multiple priorities.
Ability to develop a sense of urgency and respond appropriately.
Experience working in a collaborative team environment on large initiatives.
Strong communication skills to be able to work with clients and present to C-level executives.
Good presentation skills and business development skills; able to assist in selling work to clients.
Experience in developing work plans, project scopes, pricing estimates.
Strong project management and leadership skills to manage and drive concurrent small to large projects for one team.
Good interpersonal, written and oral communications skills as well as customer relations and the ability to travel.
A commitment to inclusion and diversity, and openness to new ideas and perspectives.
Experience integrating AI tools (e.g., ChatGPT) into day-to-day workflows to enhance productivity and insight generation, coupled with strong critical thinking to assess accuracy, mitigate bias, and ensure high-quality outputs.
A commitment to inclusion and diversity, and openness to new ideas and perspectives.
Ability to travel to client-site 30-50%.

Responsibilities

Client Delivery: Work directly with clients to implement processes and technology that support business value and process efficiency across business and technical functions.
Work closely with the business owners to create new business processes.
Facilitate client workshops focused on the future state of the Insurance Industry, design future state business process and requirements.
Support detailed requirements gathering.
Lead package evaluations against industry leading practices in the Insurance Industry.
Interface with all levels of management both internally and at client sites.
Leverage AI tools to accelerate analysis, synthesize complex information, and support data-driven recommendations for clients, exercising sound judgment in evaluating outputs.
Apply AI technologies (e.g., generative AI, automation tools, data models) to enhance insights, improve delivery efficiency, and elevate the quality of client outcomes.
Project Management: Develop client-ready communications to facilitate decision making, communicate status, mitigate risk or resolve issues.
Participate in the creation of project related deliverables such as project plans, implementation plans, communication plans, and financial models.
Work closely with engagement management to reduce project risk.
Work closely with members of WMP as well as our clients to quickly establish highly functioning joint project teams.
Business and Practice Development: Participate in the business development process by assisting in the development of project approaches and proposals.
Participate in the practice development process by assisting in the development of tools, methodologies and techniques used by WMP in on client assignments.