Consulting Actuary – Life Practice (Experienced FSA)

Job Knowledge, Experience

• Undergraduate degree in Actuarial Science, or a similar mathematical or quantitative program of study
• Attainment of the FSA designation with the Society of Actuaries (SOA)
• Minimum of 7 years of full-time work experience in an actuarial role
• Experience and Soft Skills Required:
  • Strong quantitative background
  • Proficiency in Excel, VBA and SAS
  • Insurance product modeling experience, and MG-ALFA and Integrate experience, in particular
  • 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
  • Prioritized and met deadlines
  • Strong written and verbal communication skills, along with the ability and willingness to clearly articulate ideas
  • The desire and ability to work in a fast-paced environment where the client is always first

About the role

The Consulting Actuary role is to be involved in a variety of assignments potentially including pricing, modeling, mergers and acquisitions, asset liability management, cash flow testing, statutory, tax, and GAAP valuation.

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 merger and acquisition 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
• Other projects including development of new products for financial services companies, risk-based capital impact analysis, and developing economic capital models under various frameworks

Requirements

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.

Qualifications

The expected application deadline for this job is July 31, 2026.

Pay

The salary range for this role is $119,025 - $214,820, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, 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 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.

Schedule

The expected application deadline for this job is July 31, 2026.

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 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.