Actuarial Analyst - Chicago Life

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.