About Us:

With offices in 75+ cities across nearly 30 countries, Oliver Wyman is a management consulting company that combines deep industry knowledge with specialized expertise in strategy, operations, risk management, and organization transformation. The firm has about 7,000 professionals around the world who help clients optimize their business, improve their operations, and risk profile, and accelerate their organizational performance to seize the most attractive opportunities.

Practice overview: Actuarial services, Madrid office

Integrated in a global network comprising more than 500 actuaries worldwide and over 80 actuaries in the European practice, which was launched in 2018 and is constantly growing. We are looking for new actuaries during this ramp-up phase to further develop our practice and serve the interests of insurance and reinsurance companies locally.

Our mission is to be a leader in the integration of actuarial science, data science, and information technology to solve our clients’ most demanding challenges.

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: life insurance, property & casualty, and healthcare.

The consultants at Oliver Wyman European Actuarial Services work for all major life and non-life (re)insurers in Switzerland, Germany, Austria, Italy, Netherlands, UK, Spain & Portugal.

As an Actuarial Intern Consultant, 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 gain industry exposure with top tier insurance companies, reinsurance companies, investment banks, law firms, state regulators, and private equity firms.

Projects include – but are not limited to – the following:

Actuarial Modelling (risk and capital): development and review of asset-liability models or regulatory internal models.

Regulatory and accounting issues: Solvency II, IFRS 17 and Spanish & Portuguese local GAAP.

SII Internal Model development and validation.

SII risk assessment and capital optimizations.

ALM analysis and cash flows modelling.

Actuarial reporting and reviews.

Insurance mergers & acquisitions and actuarial due diligence alongside transactions

Financial Risk Management and Sustainability.

Work in support of our Management consulting and Strategy practice.

Role Definition

You will be included in a project team to provide support in many different tasks through-out the actuarial projects:

Data analysis

Risk assessment

Financial modelling

Research & development

Documentation and reporting

Daily responsibilities for the success of some workstreams within actuarial projects: project support, help in methodology setting and deliverable preparation

Development of intellectual capital within the Actuarial Practice

Who can apply?

Proactive actuarial students with a proven academic record and a desire to learn and work in a team.

Strong written and oral communication skills.

Understanding of the value of collaboration, and the ability to work effectively in a team

Deep critical-thinking skills and problem-solving ability.

Highly motivated individual  willing to work in a dynamic environment.

High skills with MS Excel. Knowledge in R, C++ and Python is a plus.

Language skills: Spanish and English (native/business level) is needed. Portuguese conversational level is a plus.

Business level of Spanish and English are needed. Conversational level in Portuguese is a plus.

Why join us?

We provide challenging work with excellent opportunities for professional and personal growth, fostering the development of future leaders. Our aim is to support our actuaries in learning and advancing throughout their careers. Specifically, we offer you a valuable opportunity to grow while you study, being flexible with your university attendance and understanding your situation during exams.

At Oliver Wyman, our success is directly attributed to the caliber of our talented individuals. We have openings for individuals who are eager to apply their skills and knowledge in a stimulating environment that recognizes and rewards excellence. We believe in growing our business by investing in our people. We offer a dynamic consulting environment that combines the diversity and challenges of consulting with opportunities for growth and advancement.

For more information, please visit our website at www.oliverwyman.com/actuaries

How to apply?

Please submit your CV, cover letter and unofficial transcripts.

Oliver Wyman is an equal opportunity employer and a wholly owned subsidiary of Marsh & McLennan Companies. To learn more, please follow us on LinkedIn or X @OliverWyman.

Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/ Gender Identity employers.