The Department

We are a team of more than 70 actuaries with deep subject matter expertise in equity-based insurance guarantee products, providing our clients with advanced analytics required to develop a comprehensive understanding of the business, and make informed strategic and risk management decisions.

The Role

Actuarial Analysts are involved in a wide variety of assignments in the area of mergers & acquisitions, asset liability management, cash flow testing, valuation, financial reporting, and financial modeling.

Your Responsibilities based on examples of such assignments include:

• Modeling and financial projections for actuarial appraisals.
• Development and analysis of experience studies and actuarial assumptions.
• Asset adequacy analysis and cash flow testing.
• Buy-side actuarial due diligence for M&A transactions, including review of financial metrics, assumptions, risks and operations of the business.
• Development of valuation models and production processes for US statutory and GAAP reporting.
• Risk and capital assessment, including RBC and economical capital frameworks.
• Implementation of Milliman's financial modeling and technology solutions, focused on our proprietary MG-ALFA and Integrate platform-based solutions.
• Development of new insurance products.

Job Knowledge, Experience Skills

Job Knowledge Required

• Undergraduate degree in Actuarial Science, or a similar mathematical or quantitative program.
• Completion of at least two Society of Actuaries (SOA) exams
• Active pursuit of ASA Designation from the Society of Actuaries
• Strong quantitative background
• Proficiency in Excel, VBA, and SAS
• Insurance product modeling experience and MG-ALFA experience
• 0-1 years of experience

Experience and Soft Skills Required

• Ability to analyze and apply creative problem solving both independently and within a team.
• Self-motivated individual with a sense of intellectual curiosity and a results-oriented work ethic.
• Proven ability to handle multiple projects and tasks, prioritizing and meeting deadlines.
• Strong written and verbal communication skills are required, along with the ability and willingness to clearly articulate your ideas.
• The desire and ability to work in a fast-paced environment where the client is always first.

Location:

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, Illinois on a weekly basis, but flexible work arrangements will be considered.

The expected application deadline for this job is July 31, 2025.

Compensation:

The overall salary range for this role is $66,330 - $116,270. A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.

Benefits: We offer a comprehensive benefits package designed to support employees' health, financial security, and well-being. Benefits include:

• Medical, Dental and Vision - Coverage for employees, dependents, and domestic partners.
• Employee Assistance Program (EAP) - Confidential support for personal and work-related challenges.
• 401(k) Plan - Includes a company matching program and profit-sharing contributions.
• Discretionary Bonus Program - Recognizing employee contributions.
• Flexible Spending Accounts (FSA) - Pre-tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) - Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis.
• Holidays - A minimum of 10 paid holidays per year.
• Family Building Benefits - Includes adoption and fertility assistance.
• Paid Parental Leave - Up to 12 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D - 100% of premiums covered by Milliman.
• Short-Term and Long-Term Disability - Fully paid by Milliman.

Equal Opportunity:

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.