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Actuarial Intern - Winter 2027 Internship/Co-Op (January 2027 Start) – FRM, Life, LTS

Milliman

Closed
Life/Consultancy/Intern Level

Actuarial Intern - Winter 2027 Internship/Co-Op (January 2027 Start) – FRM, Life, LTS

Milliman

Chicago, Illinois, United States · Hybrid · 3d ago

Closed
Salary
$48k - $96k

Role Summary

Role type

Structured actuarial student opportunity

Closer to a structured student opportunity than a modelling-heavy IC role because training and supervised placement across specialist groups define the experience.

Chicago-based Life actuarial internship/co-op starting January 2027, with placement in Mergers & Acquisitions, Financial Risk Management, or Life Technology Solutions. You may support life and annuity valuation, M&A due diligence, hedging, capital analysis, product development, and actuarial model development while receiving one-on-one training.

Requirements

Must have

  • Currently enrolled in a Bachelors or Masters program in Actuarial Science or similar quantitative field
  • Completion of at least one Society of Actuaries (SOA) exam
  • Active pursuit of FSA, FRM, or CFA designation
  • Willingness to work in-person in Chicago, IL on a weekly basis

Strongly preferred

  • Proficiency in Excel and VBA
  • Strong quantitative background with actuarial modeling experience in life insurance, risk management or investments
  • Understanding of capital markets and modern finance concepts (option pricing, portfolio theory, etc.)
  • Ability to analyze and apply creative problem solving both independently and within a team
  • Excellent project management skills, including communication and time management skills
  • Self-motivated individual with a sense of intellectual curiosity and a results-oriented work ethic

Nice to have

  • One or more prior internships, preferably with a focus on learning and applying technical skills
  • Knowledge of SAS, C++, C#, and other programming languages
  • Experience with MG-ALFA or other actuarial valuation software

Skills & Domain

ToolsExcelPowerPoint
DomainMerger and acquisition valuation and due diligenceRisk management and hedgingStochastic modeling for variable annuitiesActuarial software (MG-ALFA)Life insurance pricing and valuation