Modeling and simulation engineer Jobs in Chicago, IL

Actuarial Modeling & Technical Lead

Remote type: Hybrid/Remote

Locations: Flexible, but preferably in US/Canada (New York, Chicago, Montreal)

Time type: Full time

Oliver Wyman's US P&C Actuarial Consulting Practice is hiring an Actuarial Modeling & Technical Lead to join our Actuarial Modeling, Analytics & Transformation team. The role focuses on hands-on development, validation, and operationalization of actuarial models and workflows, understanding actuarial & business requirements and converting those into production ready code and tools. The Actuarial Modeling & Technical Lead will partner closely with engineering to deliver auditable, reproducible actuarial solutions. Candidates should combine strong P&C actuarial experience with practical software skills, and an appetite for AI-enabled development. The role requires deep hands-on actuarial modeling experience in pricing, underwriting, claims and/or reserving (model building, rater build, actuarial process improvement, accelerators and tool builds, etc.)

Responsibilities:

• Build, test, document, and maintain actuarial logic implemented in code (Python/R) or modeling platforms, ensuring reproducible, version-controlled workflows.
• Design and implement end-to-end actuarial workflows across pricing, reserving, underwriting, and claims analytics; create developer-ready specifications and technical documentation.
• Leverage AI-assisted development tools, cloud platforms and machine learning algorithms to improve modeling, code generation, automated testing, and documentation while maintaining actuarial governance and correctness.
• Perform exploratory data analysis, validate data pipelines (SQL, Databricks, Azure), and turn complex datasets into clear recommendations with client-ready reporting, dashboards & relevant visualizations.
• Act as the liaison between actuarial subject matter experts and engineering teams: translate actuarial specifications into technical requirements, review implementations, and validate via unit and integration tests.
• Contribute to practice tooling, best practices, and business development; represent the practice at industry events.

Qualifications:

• Actuarial credentials (e.g., FCAS/FIA/ACAS) or active progress toward a recognized actuarial qualification.
• 3+ years of P&C actuarial experience in consulting or insurance with hands?on work in pricing, reserving, or claims analytics.
• Demonstrated experience in P&C modeling, building predictive models (e.g. regression type, GLM/GMB-type, advanced machine learning models, etc.) for frequency/severity, loss cost, and other relevant actuarial use cases.
• Strong technical skills with actuarial tools and experience with Python, R, or SQL are advantageous. Experience with Git/GitHub and Databricks preferred.
• Familiarity with cloud ML and data platforms (Azure ML) and ML Ops practices a plus.
• Experience with visualization tools (Power BI, matplotlib/ggplot) and dashboarding a plus.
• Excellent communication skills and demonstrated ability to translate complex technical work into clear business recommendations.
• Intellectual curiosity, self-motivation, and the ability to deliver against tight deadlines in a client facing consulting environment.

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.

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.

The applicable base salary range for this role is $100k -$150k USD.

The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education, and any applicable minimum wage requirements. Decisions will be determined on a case-by-case basis.

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, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.