Oliver Wyman Actuarial Consulting - Analyst, Health Practice

Company:

Oliver Wyman

Description:

Oliver Wyman Actuarial Consulting, Inc. – Health Practice

Job Description:  Analyst

Location: Hybrid; preference for Atlanta, Chicago, Milwaukee, Philadelphia, or New York, but open to other Oliver Wyman Actuarial office locations

Company Overview

Oliver Wyman is a global leader in management consulting and actuarial 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 5,000 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 [NYSE: MMC]. Twitter @OliverWyman.

Visit our website for more details about Oliver Wyman: www.oliverwyman.com

What We do

Oliver Wyman provides customized actuarial services and strategic insight, supporting clients as they strive to exceed their business objectives. Our exceptional client and employee retention exemplify our commitment to relationships built on trust, responsiveness and clear communication.

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. Oliver Wyman is recognized by Fortune as one of the 100 Best Companies to work for in 2019.

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.

The Health Practice of Oliver Wyman is rapidly growing and seeking individuals who are highly motivated to expand our team. 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.

Job description

As an Analyst, 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 interaction and visibility with Oliver Wyman’s clients, which include top tier insurance companies, provider health systems, state regulators, and private equity firms. 

Potential projects may include:

• Medicare Bid Support: Assisting the bid development for Medicare Advantage products including product development, modeling, and analysis

• Commercial Pricing Support: Assisting the pricing of health insurance products including product development, modeling, and analysis support specific to the ACA small group and individual markets, and large group markets

• Medical and Pharmacy Claims Analysis: Supporting claim-line level analytics including benchmarking to applicable industry experience

• Market Simulation Analyses: Supporting analyses of proposed federal and state legislation

• Regulatory Support: Examining impact of regulatory changes and assisting clients with their implementation

• Provider Contract Analysis: Evaluation of provider contracts and the impact of changes on rates

• Value-based Care: Analyzing value-based care and other risk-taking arrangements from both the payer and provider perspectives

• Evaluation of care management programs

Qualifications and desired skills

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

• 1 - 3 years of actuarial experience in the actuarial field

• Progress towards Associate of the Society of Actuaries (ASA) credentials

• 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 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

• Highly motivated individual and willingness to work in a dynamic environment

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

BENEFITS

• The applicable base salary range for this role is $70,000 - $100,000 USD

• The base pay offered will be determined on factors such as experience, skills, training, location, certifications, education and any applicable minimum wage requirements

• In addition to the base salary, this position may be eligible for performance-based incentives

• We are excited to offer a competitive total rewards package which includes health and welfare benefits, 401K savings and other retirement programs as well as employee assistance programs

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.

About Marsh McLennan 

Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 83,000 colleagues advise clients in 130 countries. With annual revenue of nearly $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and wellbeing for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com, follow us on LinkedIn and Twitter or subscribe to BRINK. 

The applicable base pay for this role ranges from $75,000 - $100,350.

Oliver Wyman, a business of Marsh McLennan (NYSE: MMC), is a management consulting firm combining deep industry knowledge with specialized expertise to help clients optimize their business, improve operations and accelerate performance. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow on LinkedIn and X.

The Actuarial Practice of Oliver Wyman 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 McLennan 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@mmc.com.

Marsh McLennan 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 McLennan 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.

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