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Oliver Wyman - Associate & Engagement Manager - Insurance - London

Location: London, United Kingdom

Company: Oliver Wyman

Job ID R_062550-en


Associate and Engagement Manager - Insurance


Oliver Wyman is a global leader in management consulting. With offices in 60 cities across 29 countries, Oliver Wyman combines deep industry knowledge with specialized expertise in strategy, operations, finance and 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 Companies [NYSE: MMC]. For more information,

Follow Oliver Wyman on Twitter @OliverWyman.



Oliver Wyman’s Insurance practice supports its clients with leading edge topics.

Our client list includes almost all top global insurers in both life and non-life, along with all major domestic insurers as well as other market participants such as investors or distribution companies.

The Oliver Wyman Insurance practice uniquely combines deep strategy expertise, a thorough quantitative understanding and rich implementation experience. We set ourselves apart by providing our clients with specialist knowledge in topics across the entire insurance value chain from top of the house strategy to finance and risk to operations. One key area of specialisation is improving our insurance clients’ Financial Effectiveness – optimising their use of and return on financial resources, ensuring appropriate risk management and improving the operational effectiveness of the risk and finance functions

The following list is a sample of recent Financial Effectiveness topics from our project work:

  • Supporting a leading specialist insurer with their Solvency II internal model development and regulatory approval, thereby saving them capital of ~15% of their standard formula level
  • Driving efficiencies and effectiveness of an Insurance group’s ALM and Investment processes through improvements in their measurement framework and operating model
  • Streamlining of an insurer’s stress and scenario testing approach to drive efficiency gains and a more robust process, ultimately driving better outcomes in a more timely way
  • Benchmarking and improvement of an insurer’s approach to credit risk measurement, with a focus on non-standard and illiquid assets, within their Solvency II models
  • Redesign of an Insurance Group’s Finance operations with a view to reducing duplication and streamlining the number of discrete teams at different layers in the organisation
  • Development of a Transformation Risk Management framework for a global Financial Services conglomerate

In addition we have carried out the development and implementation of Risk Appetite, Capital Optimisation and Risk Function Transformation projects for many of the EMEA region’s largest and most important insurers.



Experienced professionals bring us the know-how to make lasting change for our clients and our company.  We are not typical ‘management’ consultants. We provide deep industry- and discipline-specific knowledge and expertise, which amplifies our impact and helps us shape the future for our clients. All of our Insurance team members are Insurance specialists. Oliver Wyman is a diverse, entrepreneurial, non-competitive partnership of individuals who like to pursue new opportunities or build a unique franchise doing what they do best in a collegial, fun environment.

The role will focus on managing projects - You will lead the team through an efficient and effective problem-solving process from initial thought process through convergence on a solution. You will ensure that recommendations are appropriate, practical, sensible, relevant and cohesive. It’s a role that demands thought leadership at the strategic level, and command of all the technical and operational details of execution in teams. You will need great communication skills, ability to grow and nurture junior team members and the ability to forge strong relationships.



Clients hire Oliver Wyman for specialized expertise, the ideal candidate will have most of the following:

  • Minimum of 5- 10years of relevant experience, ideally with a top-tier consulting firm or large insurer (or other similar organizations)
  • Knowledge of finance and / or risk management topics, including technical aspects such as Solvency II internal models and ORSA
  • Strong background in problem solving with demonstrable analytical skills
  • Outstanding written and oral communication skills in both formal and informal settings
  • Undergraduate or advanced degree from a top academic program
  • Willingness to travel
  • Know how to take the initiative, seeking out opportunities to learn new skills and put the ones you’ve already got to good use.
  • Are not just intelligent, but creative too: ready to come up with novel ideas to solve our clients’ biggest problems.
  • A willingness to work fluidly and respectfully with our incredibly talented team.



We’re serious about ensuring OW is a rewarding, progressive, enjoyable and balanced place to work.

  • Self starters and free thinkers who work well in a team.
  • We are individuals who are self starting, motivated, energetic, entrepreneurial about what we do
  • Common aspiration, collective endeavour, shared success
  • We have the common aspiration to have an impact, leave a legacy and change the world.
  • We have no interest in running a steady-state business. We want to build, grow and shape the environment around us
  • Straightforward, open, respectful interaction
  • We value an environment where every member of Oliver Wyman is encouraged and expected to voice his or her opinion
  • Opportunity without artificial barriers, anti-Kudzu
  • We value merit and believe that to create a true meritocracy we need to remove artificial barriers to opportunity
  • We value people whose lives balance work and non-work activities because we believe they are both more interesting colleagues and are able to make better contributions to the Firm. We push ourselves hard to deliver excellence, but we also work to extract the maximum benefit from the flexibility of a project-based business. We provide the ability to take career breaks for personal or family reasons. We fundamentally value each other’s time, and are sensitive to how it is used. We are an output not input-based culture.



If you like what you’ve read, we’d love to hear from you.

If you’d like to learn more about the firm during your application process, please visit,

Oliver Wyman is an equal opportunity employer.

Our commitment to diversity is genuine, deep and growing. We’re not perfect yet, but we’re working hard right now to make our teams balanced, representative and diverse.


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