Associate Actuary - ASA Required

About the role

The Chicago office of Milliman Inc. is seeking a consultant to join their life consulting practice. Milliman advises on mergers & acquisitions, corporate restructuring, and other transaction activities in the U.S. life insurance and annuity industry. They provide advanced analytics and insights through services like asset-liability management, enterprise risk management, financial modeling, and actuarial technology modernization. Their clients include major financial services companies.

Responsibilities

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

Qualifications

• Undergraduate degree in Actuarial Science or a similar quantitative program.
• Society of Actuaries (SOA) ASA status.
• Actively pursuing the FSA designation from the SOA.
• Minimum of 2 years of full-time work experience in an actuarial role (excluding internships).
• Strong quantitative background.
• Proficiency in Excel, VBA, and SAS.
• Insurance product modeling experience and MG-ALFA and Integrate experience.
• Ability to analyze and apply creative problem-solving skills.
• Self-motivated individual with a strong work ethic.
• Prior consulting experience or a background in individual life insurance is preferred but not required.

Location

Candidates must work in-person at the Milliman office in Chicago, IL, on a weekly basis, with flexible work arrangements considered.

Pay

The overall salary range for this role is $102,120 - $184,460. Factors such as education, relevant work experience, qualifications, skills, certifications, etc., will be considered.

Benefits

• Medical, Dental, and Vision coverage.
• Employee Assistance Program (EAP).
• 401(k) Plan with company matching and profit-sharing contributions.
• Discretionary Bonus Program.
• Flexible Spending Accounts (FSA) for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) starting at 15 days per year.
• Holidays, including 10 observed holidays per year.
• Family Building Benefits, including adoption and fertility assistance.
• Paid Parental Leave up to 12 weeks.
• Life Insurance & AD&D, with 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 discrimination based on race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.