Associate Actuary - ASA Required

About the role

The Chicago office of Milliman Inc. is seeking a consultant to join their life consulting practice. Milliman is a leading actuarial advisor in mergers & acquisitions, corporate restructuring, and other transaction activities in the U.S. life insurance and annuity industry. They provide services in areas such as asset-liability management, enterprise risk management, financial modeling, and actuarial technology modernization. The department consists of consultants with expertise in individual life and annuity insurance products.

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 of the business.
• 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 platform-based solutions.
• Development of new insurance products.

Qualifications

• Undergraduate degree in Actuarial Science or a similar mathematical or quantitative program of study.
• 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, in particular, would be an asset.
• 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.
• Prior consulting experience or a background in individual life insurance a plus, but not necessary.

Location

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

Pay

The overall salary range for this role is $102,120 - $184,460. A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.

Benefits

• 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 observed 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.