Oliver Wyman – Senior Principal - Actuarial Health Practice

Marsh McLennan • Atlanta, GA

11d • Hybrid

About The Position

Oliver Wyman is a global leader in management consulting and actuarial consulting. The Actuarial Health Practice of Oliver Wyman works with health organizations to manage their financial risks and support health care delivery by using advanced actuarial and modeling techniques and has over 50 employees across 6 offices in North America. The practice seeks to inspire a collaborative, team-based culture which fosters free flowing ideas, values diversity and allows for challenges to the status quo. Our 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. As a Senior Principal, 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 achieve significant interaction and visibility with Oliver Wyman’s clients, which include top tier insurance companies and provider health systems. You will be leading client teams, assisting senior leaders with client management, project management, and peer review.

Requirements

• At or near-FSA with 10+ years of experience in the actuarial field, in the Medicare Advantage space, preferably Medicare Advantage bid development
• Track record of and desire for rapid learning, high performance, and professional growth
• Strong written and oral communication skills
• Excellent time and project management skills
• Ability to work independently and direct junior staff on both client projects and intellectual capital development
• Understanding of the value of collaboration, and the ability to work effectively in a team setting
• Deep critical-thinking skills and problem-solving ability
• Experience communicating results and impact to clients or senior management
• Highly motivated individual and willingness to work in a dynamic environment
• Strong skills with MS Excel, SAS, SQL, R, VBA or other programming languages

Responsibilities

• Leading client teams, assisting senior leaders with client management, project management, and peer review.
• Medicare Advantage and Prescription Drug Plan bid support: leading the pricing of MA/PD and products from assistance with strategic positioning and product design to overseeing the development of assumptions, providing actuarial certification and final upload to post submission bid support
• Feasibility studies: assisting clients with new entries or expansions of products, development of pro forma financial projections to assess the risk of market entrance and understanding the levers they may need to pull to achieve the desired financial results
• Experience studies: undertaking deep dive reviews of the client’s MA/PD block of business to understand the drivers of the financial results; risk score analyses, total cost of care management, and star rating impact
• Formulary Analyses: review of product formulary options, analysis of financial impact and disruption analysis so clients understand the full risk of various formulary options
• Product Design and Positioning: competitive landscape analyses of products and prices to assist clients in making product design decisions and market position and helping them understand the levers they would need to utilize in pricing these products to achieve their goals and remain financially viable
• Collaboration: Work in partnership with Oliver Wyman’s management consulting practice in their Health and Life Sciences division through broader strategy engagements

Benefits

• 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.
• Competitive benefits.
• 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.
• Managers understand the demands and dedication required to pass actuarial exams and are supportive and flexible with the actuarial students’ work loads.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed