Role Summary

HIGHLIGHTS

Life actuarial internship in Milliman's Chicago office within M&A, Financial Risk Management, or Life Technology Solutions. Work includes valuation, cash-flow testing, stochastic modeling, hedging and due diligence for life insurance and annuities. Fall 2026 co-op/internship for students (in-person weekly in Chicago).

JOB DESCRIPTION SUMMARY

Fall 2026 actuarial intern in Life, Financial Risk Management, or Life Technology Solutions
Work on M&A due diligence, valuation, cash-flow testing, and stochastic hedging models
Hands-on modeling with MG-ALFA and data transformation processes (IDM)
In-person in Chicago office weekly; flexible arrangements may be considered
Ideal for students with 1+ SOA exam passed and Excel/VBA skills

DOMAIN EXPERTISE

actuarial modeling in life insurance or risk management
variable annuity and fixed indexed annuity modelling
valuation modelling (VM-21, GAAP LDTI, BMA EBS)
experience with MG-ALFA
proficiency in Excel and VBA

KEY REQUIREMENTS

Currently enrolled in a Bachelor's or Master's program in Actuarial Science or similar
Completion of at least one SOA exam and actively pursuing FSA, FRM, or CFA
Ability to work in-person in the Chicago office on a weekly basis
Strong quantitative background and aptitude for actuarial modeling
Proficiency in Excel and VBA (SAS, C++, C# knowledge a plus)

TECH STACK

Excel

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Role Summary

HIGHLIGHTS

JOB DESCRIPTION SUMMARY

Fall 2026 actuarial intern in Life, Financial Risk Management, or Life Technology Solutions
Work on M&A due diligence, valuation, cash-flow testing, and stochastic hedging models
Hands-on modeling with MG-ALFA and data transformation processes (IDM)
In-person in Chicago office weekly; flexible arrangements may be considered
Ideal for students with 1+ SOA exam passed and Excel/VBA skills

DOMAIN EXPERTISE

actuarial modeling in life insurance or risk management
variable annuity and fixed indexed annuity modelling
valuation modelling (VM-21, GAAP LDTI, BMA EBS)
experience with MG-ALFA
proficiency in Excel and VBA

KEY REQUIREMENTS

Currently enrolled in a Bachelor's or Master's program in Actuarial Science or similar
Completion of at least one SOA exam and actively pursuing FSA, FRM, or CFA
Ability to work in-person in the Chicago office on a weekly basis
Strong quantitative background and aptitude for actuarial modeling
Proficiency in Excel and VBA (SAS, C++, C# knowledge a plus)

TECH STACK

Excel

Role Summary

HIGHLIGHTS

JOB DESCRIPTION SUMMARY

Fall 2026 actuarial intern in Life, Financial Risk Management, or Life Technology Solutions
Work on M&A due diligence, valuation, cash-flow testing, and stochastic hedging models
Hands-on modeling with MG-ALFA and data transformation processes (IDM)
In-person in Chicago office weekly; flexible arrangements may be considered
Ideal for students with 1+ SOA exam passed and Excel/VBA skills

DOMAIN EXPERTISE

actuarial modeling in life insurance or risk management
variable annuity and fixed indexed annuity modelling
valuation modelling (VM-21, GAAP LDTI, BMA EBS)
experience with MG-ALFA
proficiency in Excel and VBA

KEY REQUIREMENTS

Currently enrolled in a Bachelor's or Master's program in Actuarial Science or similar
Completion of at least one SOA exam and actively pursuing FSA, FRM, or CFA
Ability to work in-person in the Chicago office on a weekly basis
Strong quantitative background and aptitude for actuarial modeling
Proficiency in Excel and VBA (SAS, C++, C# knowledge a plus)