Oliver Wyman Actuarial – Business Development Principal – Life

Company:

Description:

Remote type: Hybrid

Locations: Flexible

Time type: Full time

Company Overview

The Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a rapidly growing practice with offices 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.

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 Life Actuarial Practice of Oliver Wyman works with organizations to manage their insurance risks using advanced actuarial and modeling techniques and has employees across over a dozen offices globally.

Job Description

Oliver Wyman is seeking a dynamic and results-oriented Business Development Principal to join our Actuarial Life Practice. This newly created position will focus on building and strengthening existing client relationships while identifying and pursuing new business opportunities across a diverse range of potential clients.

The new Business Development Principal will join our talented consulting team in the US and play a key role in proactively identifying and closing opportunities for Oliver Wyman to deliver value-added solutions to our clients, which include top tier insurance and reinsurance companies, alternative asset managers, private equity firms, investment banks, law firms, and regulators.  The Business Development Principal will be responsible for maintaining a comprehensive understanding of Oliver Wyman’s suite of services as well as ongoing activities within client organizations to effectively align our expertise with client needs, challenges, and strategic goals.

While project execution is not expected and will be managed by our extensive team of consultants, the ideal candidate will possess a strong understanding of the life insurance market and will leverage their insights to propose tailored solutions that align with client objectives, ensuring that the right expertise is engaged at the right time. This role demands exceptional relationship management skills, strategic thinking, and the ability to navigate complex client dynamics effectively.

Key responsibilities:

• Identify and pursue new business opportunities within the life insurance sector, leveraging market insights and trends
• Contribute to the development of the practice’s business strategy, including identifying target markets and potential clients, contributing to broadcast marketing strategy, and ensuring presence at industry meetings
• Maintain network of senior contacts throughout the industry leveraging existing relationships, industry conferences, and other activities
• Expand and strengthen relationships with existing clients to identify opportunities for further engagement
• Collaborate with internal stakeholders to develop tailored proposals and solutions that meet client needs
• Stay informed about industry trends, competitor activities, and regulatory changes affecting the life insurance market. Leverage and share this knowledge to inform strategic decisions and recommendations for clients
• Work closely with practice leaders to align business development efforts with service offerings

Qualifications and Desired Skills

• 8+ years of business development, sales, or client management experience, including sourcing and building client relationships, and selling and expanding consulting engagements, both with existing clients and new prospects 
• Experience working in the life actuarial or insurance consulting market preferred. Actuarial credentials or similar qualifications not necessary
• Highly motivated, proactive individual with an entrepreneurial attitude and a desire to work in a fast-paced, dynamic environment 
• Willingness to travel frequently as needed to support client pursuits, business development activities, and industry events

• Excellent written and verbal communication skill