Jobs › Marsh McLennan

Oliver Wyman - Insurance & Asset Management - Engagement Manager

Marsh McLennan · Chicago, IL · $225,000–$240,000 a year · Full time

Posted Sep 22, 2026 · We last checked this listing on Oct 6, 2026

Apply at Marsh McLennan

Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Tell me about an insurance project you managed. What was the client's question and what changed?

What they are checking: Whether they have led real work in insurance and can point to an outcome.

Tell me about a time you managed a team member who was underperforming.

What they are checking: Whether they address problems directly and fairly as a manager.

Tell me about a time you helped grow work with a client.

What they are checking: Whether they contribute to business development, which is part of the manager role here.

What would you do

Your client's actuaries challenge your team's numbers in a steering meeting. How do you respond?

What they are checking: Whether they can handle technical pushback calmly and resolve it with evidence.

A regulator's new capital rule affects your client mid-project. What do you do?

What they are checking: Whether they adapt the work to regulatory change and keep the client informed.

About the work

A life insurer's new business margins are shrinking. How would you structure the problem?

What they are checking: Whether they can break insurer profitability into pricing, expense, investment and distribution drivers.

How would you help a P&C insurer improve its underwriting results?

What they are checking: Whether they understand underwriting, pricing and claims levers and how they interact.

What would you need to plan if a client wanted to launch a greenfield insurer?

What they are checking: Whether they can think across capital, licensing, technology and distribution in the right order.

How do rising interest rates change strategy for life insurers and annuity writers?

What they are checking: Whether they understand how capital markets shape insurance products and balance sheets.

How would you assess an insurer's distribution strategy across agents, brokers and direct channels?

What they are checking: Whether they understand channel economics and how they affect growth and cost.

Practice this interview out loud.

Offer builds a real interview for this exact role at Marsh McLennan from your resume and this job description, asks the questions one at a time, and tells you what landed. The first one is free.

Practice this out loud

The full job description

As published by Marsh McLennan.

Company: Oliver Wyman Description: Who We Are? 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, 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, visit www.oliverwyman.com . Team Overview The Insurance Practice provides leading institutions in Life and Property & Casualty Insurance, Reinsurance, and Pensions sectors with strategic insight and analytical thinking to succeed in a rapidly evolving competitive, regulatory, and capital markets environment. Our work spans a range of topics, including strategy development, financial effectiveness, product design and management, operational excellence, underwriting and pricing, and distribution. Recent examples of our impact include: • Establishing a Greenfield insurer from strategy formulation, technology selection across the value chain, project planning through to implementation • Creating a new platform called “Fulcrum” that enables insurers to migrate from legacy administration platforms to new ones in months instead of years through partnerships with many of the leading insurers, technology providers and Third-Party Administrators • Designing a multi-year corporate strategy for an Independent Broker Dealer that included product development, distribution and operations and technology components Role Our consulting roles offer excellent career and growth opportunities for talented, highly motivated professionals with relevant prior experience. As a professional member of our firm, your initial responsibilities will include: • Managing the execution of individual project workstreams. This typically includes developing hypotheses; managing data collection, model creation and analyses; conducting primary and secondary research; creatively tackling information limitations; and surfacing insights • Synthesizing findings into written presentations; reviewing and discussing with clients and other stakeholders • Supporting our Partner group in project delivery through accurate and high-quality execution We offer a dynamic and personalized working environment that can be adapted to suit you. We can accommodate flexible working hours and geographies and use the latest team collaboration software to ensure we team effectively. Desired Skills and Experience Just as every client project is different, we recognize and value the diversity of backgrounds and skill sets for successful candidates. We are seeking high-caliber individuals who want to join our winning team. While specific responsibilities will vary based on previous experience the ideal candidate will have the following: • 5+ years of relevant experience, ideally with a top-tier strategy consulting firm (or other similar organizations with project-based, team-oriented environments) or Life Insurance company • Familiarity with operations and technology components for supporting insurance products • Demonstrable success using modern day tooling (such as SQL and Python) • Experience with insurance-related topics, such as underwriting, risk, and finance • Strong mathematical background and willingness to get into the inner workings of insurance products • Track record of leading and managing teams, and delivering against tight deadlines in fast-paced, demanding environments • Strong background in strategic problem solving with demonstrable analytical skills • Outstanding written and verbal communication skills • Undergraduate or advanced degree from a top academic program • Willingness to travel Why work at Oliver Wyman? Working as part of our global, entrepreneurial company, you’ll do meaningful work from day one. We’re looking for individuals who challenge the norm, and constantly strive to build something new for the firm and the world around us. At Oliver Wyman, there's no "one size fits all" - we hire exceptional people and help them thrive through a built-in support network, flexible career paths, and no artificial barriers to advancement. We have a collaborative, supportive and impactful team environment - we want you to bring your authentic self and enjoy working alongside diverse and down-to-earth colleagues who do serious work, but don't take themselves too seriously. Our Values & Culture We’re serious about making OW 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 endeavor, 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 We value merit and believe that to create a true meritocracy we need to remove artificial barriers to opportunity • Balanced lives 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, have respect for people’s personal decisions, and believe that one's workload must be sustainable. We seek balance for ourselves and our colleagues. Unrestricted U.S. work authorization is required for U.S. office locations. Oliver Wyman does not offer sponsorship for this position. Please note that CPT and OPT are restricted forms of work authorization. Why Work for Us 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. The applicable base salary range for this role is $225,000 to $240,000. The base pay offered will be determined on factors such as experience, skills, training, location, certifications, educations, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis. In additional to the base salary, this position is eligible for performance -based incentives. 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 . Oliver Wyman is a business of Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit oliverwyman.com, or follow us on LinkedIn and X. Marsh 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@marsh.com. Marsh 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 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.

Apply at Marsh McLennan