Oliver Wyman – Engagement Manager (m/f/d) – Insurance and Asset Management – Milan, Italy

Company:

Description:

Who we are

Oliver Wyman is a global management consulting firm. We work with clients through their most defining moments, combining deep industry knowledge, specialized expertise, and the power of perspective to help them adapt, grow, and thrive.

We believe diverse perspectives make the work stronger. Our consultants bring different backgrounds, experiences, and ways of thinking to help solve complex problems and create lasting impact for clients, colleagues, and communities.

At Oliver Wyman, we are proud of the values that we aspire to live by. We are committed to creating an inclusive environment where everyone can thrive and reach their full potential.

Our Insurance and Asset Management practice

Oliver Wyman's Insurance practice supports leading global and domestic insurers across life and non-life insurance, as well as other market participants, including investors and distribution companies.

Our work combines deep strategic expertise, rigorous quantitative analysis, and practical implementation experience. We support clients across the insurance value chain, from corporate strategy and business transformation to finance, risk, and operations.

As our practice continues to grow, we are looking for experienced professionals who want to apply their industry knowledge, lead talented teams, and help clients address some of their most important challenges.

What you will do

As an Engagement Manager in our Insurance and Asset Management practice, you will play a central role in leading client engagements and delivering meaningful results. You will combine strategic thinking, analytical rigor, and practical judgment to help clients navigate complex challenges and make informed decisions. 

You will lead project teams through the problem-solving process, from defining the challenge and developing hypotheses to shaping actionable recommendations. Alongside delivering high-quality work, you will build trusted client relationships and support the development of the colleagues you lead.

You will:

• Lead the day-to-day delivery of client engagements, guiding project teams from initial problem definition through analysis, recommendations, and implementation planning.

• Structure complex business problems, develop hypotheses, and oversee quantitative and qualitative analyses to generate meaningful insights.

• Translate analytical findings into clear, practical, and cohesive recommendations that address clients' strategic and operational priorities.

• Apply your insurance-sector knowledge to help clients address challenges across strategy, finance, risk, and operations.

• Ensure the quality, relevance, and consistency of project deliverables, combining strategic perspective with attention to technical and operational detail.

• Build and maintain trusted relationships with clients through clear communication, sound judgment, and effective stakeholder management.

• Lead, coach, and develop junior colleagues, providing constructive feedback and creating opportunities for them to build their skills and confidence.

• Foster a collaborative, inclusive, and high-performing team environment where different perspectives are valued and colleagues are encouraged to contribute.

• Work with colleagues and specialists across Oliver Wyman to bring relevant expertise and perspectives to client challenges.

• Continue developing your own expertise and leadership capabilities through challenging engagements, collaboration, and ongoing learning.

You will have opportunities to work with clients in Italy and internationally, with travel depending on engagement requirements.

Why join us?

You can be your best here

At Oliver Wyman, you will find meaningful work, talented people, and a culture built on trust, support, and growth.

Create solutions that have impact

• Work on challenging projects that help clients solve complex problems, make better decisions, and create meaningful impact.

• Have the opportunity to deepen your expertise in insurance and asset management, contributing to work that has lasting impact for clients and the wider industry.

• Be part of teams that measure success not just by deliverables, but by the difference created together.

Develop as a leader

• Lead client engagements and develop expertise that colleagues and clients seek out.

• Mentor junior consultants while continuing to build your own leadership capabilities.

• Take ownership of client relationships and increasingly complex engagements.

Learn and grow without limits

• Continue developing specialized expertise through challenging projects and formal learning opportunities.

• Collaborate with industry specialists and global experts across Oliver Wyman.

• Build a sustainable career supported by coaching, mentoring, and continuous professional development.

• You'll have support around you as you grow, including a dedicated buddy, a career advisor, your talent manager, and communities that help you find your place.

Thrive in a vibrant and inclusive culture

• Work with genuine colleagues who stand by their beliefs, collaborate across differences, and support one another.

• Be part of an open, inclusive, and down-to-earth culture where diverse perspectives strengthen the work. 

• Connect with colleagues through employee resource groups, office communities, and social activities.

Experience rewards that work for you

• We believe in flexibility, including hybrid working, and in helping colleagues build sustainable careers.

• Over time, you'll have access to opportunities, programs, and experiences designed to help you perform, grow, and thrive — including non-profit fellowships, sabbaticals, and externships.

• Enjoy competitive local benefits designed to support your well-being, development, and life outside of work.

Who can apply?

We are looking for experienced professionals who combine strong analytical and problem-solving capabilities with a genuine interest in the insurance industry and a passion for developing people.

You enjoy working through complex challenges, building relationships, and helping teams deliver meaningful results. You bring intellectual curiosity, creativity, and a collaborative mindset, and you are motivated by the opportunity to continue developing your expertise and leadership capabilities.

We recognize that successful consultants bring different backgrounds, experiences, and perspectives. We value the contribution these differences make to our teams and our clients.

Required qualifications

• 6–8 years of relevant professional experience, ideally gained within a leading strategy consulting firm or a comparable organization.

• In-depth knowledge of the insurance sector, including experience addressing strategic, financial, risk, or operational challenges.

• Strong analytical and problem-solving capabilities, with the ability to structure complex business questions, interpret sophisticated analyses, identify trends, and develop actionable recommendations.

• Experience leading project teams, coordinating workstreams, and delivering high-quality outcomes in demanding client environments.

• Excellent written and verbal communication skills, with the ability to present complex ideas clearly and engage effectively with stakeholders at different levels.

• Strong interpersonal skills and the ability to build trusted relationships with clients and colleagues.

• Fluency in both English and Italian.

• A master's degree from a leading academic institution.

• Willingness to travel according to client and project needs.

What we're looking for

Successful candidates demonstrate:

• Intellectual curiosity and structured problem-solving: You enjoy exploring complex questions, challenging assumptions, and using evidence to develop clear recommendations.

• Creativity and entrepreneurial thinking: You take initiative, identify opportunities, and bring fresh perspectives to challenging problems.

• Ownership and accountability: You take responsibility for the quality of your work and the outcomes your team delivers.

• Inclusive and empathetic leadership: You motivate and develop others, welcome different perspectives, and create an environment where colleagues can do their best work.

• Strong relationship-building skills: You communicate with confidence, listen actively, and establish trust with clients and colleagues.

• Adaptability and resilience: You remain effective in changing circumstances, manage competing priorities, and approach challenges constructively.

• A collaborative mindset: You work respectfully with others, share knowledge, and recognize the value of collective achievement.

• A commitment to continuous development: You seek feedback, embrace new learning opportunities, and actively invest in your own growth and that of others.

How to apply?

Please submit your CV and cover letter.

If you would like to find out more information about Oliver Wyman, please visit our careers website.

What to expect during the interviews process?

At Oliver Wyman, we want you to shine in your interview. Our process is designed like our work environment — it’s challenging, exciting, and fun.

With a mix of conversational and case interviews, our approach not only helps us to get to know you better, understanding your strengths and interests, but it also enables you to learn more about our people and our business.

If you want to learn more about consulting interviews and start your preparation, please visit our interview preparation page.

Compensation information

Job title: Engagement Manager

Location: Milan, Italy

Contract type: Permanent

Local hiring contract applied: CCNL Commercio (National Collective Bargaining Agreement of companies in the Services and Distribution Sectors) 

Local contract hiring level / classification: Dirigenti

Remuneration 

Total compensation for this role includes base salary, an annual discretionary performance bonus, and a market-leading benefits package described below. 

The expected base salary range for this position is EUR 100,000 to EUR 125,000 gross per year, expressed as a full-time equivalent. 

The above base salary range has been determined on the basis of objective and gender-neutral criteria, in accordance with applicable law. 

Any final salary may vary based on factors such as your unique blend of experience and skills and our current organizational needs. We will also grant any relevant economic provisions provided by the National Collective Bargaining Agreement to successful candidates. 

Variable compensation and benefits 

Variable pay 

Annual discretionary bonus under the terms of the applicable Company Policy, with variable remuneration linked to individual and company performance. 

Benefits (company-paid and additional benefits) 

• Supplementary insurance: Company-paid insurance package including health, life, accident insurance, and permanent disability coverage. 

• Company car or car allowance: Available for eligible roles under the Oliver Wyman Italia Car Policy. 

• Wellhub: Company-paid subscription. 

• Corporate discounts: Access to a range of discounts offered by partner organizations. 

• Employee Assistance Program (EAP): Confidential psychological, legal, and financial support services. 

• Employee referral bonus: Bonus for referring candidates who are hired to fill an official vacancy. 

• Employee Share Purchase Plan: Access to the company's employee share purchase program. 

• Seniority milestone paid leave: Additional paid leave recognizing length of service.