Actuarial Analyst- FRM, Chicago Life, and LTS

3 days ago

Chicago, Illinois, United States Milliman Full time $74,360 - $130,420 per year

The Department/Team
We are a team of more than 60 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.

You Will
Your Role/What You'll Do:

  • Design and execute scalable dynamic hedging programs to manage equity guarantee risk and meet strategic risk management objectives
  • Perform managed services for financial reporting of Variable Annuities, including GAAP and Statutory valuation
  • Merger and acquisitions – due diligence including review of assumptions, risks, and operations of Variable Annuities and/or Fixed Indexed Annuities business; valuation and projection of statutory balance sheet; determine the impact of various risk management programs
  • Build stochastic models for risk-based capital impact analysis
  • Evaluate the appropriateness of exotic derivatives in reducing a company's risk exposure
  • Price and develop new products for financial services companies
  • Collaborate with non-actuarial teams within FRM, Chicago Life, or LTS to enhance our actuarial and quantitative finance models, and technology supporting the automation platforms
  • Communicate with clients to understand their needs and expectations, as well as to present work product
  • Develop innovative solutions to challenges affecting our clients or internal processes and seek business development opportunities to help grow the practice

Required
Your Qualifications:

  • Undergraduate degree in Actuarial Science, or a similar quantitative program of study.
  • Actively pursuing the FSA designation.
  • A minimum of TWO years of experience in an actuarial role (excluding internships).
  • A MINIMUM of three SOA exams passed.

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.

Compensation
The salary range for this role is $74,360 - $130,420, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, 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.

  • Actuarial Intern

    2 days ago

    Chicago, Illinois, United States Milliman Full time

    Actuarial Intern – Student Opportunity The Chicago office of Milliman Inc. is looking for enthusiastic and qualified candidates to join its Life, Financial Services, and Life Technology Solutions (LTS) practice for an internship/co-op work term. The candidate will be assigned to work in either the Mergers and Acquisitions or the Financial Risk Management...

  • Actuarial Intern

    1 week ago

    Chicago, Illinois, United States Milliman Full time $25,000 - $45,000 per year

    Actuarial Intern – Student OpportunityThe Chicago office of Milliman Inc. is looking for enthusiastic and qualified candidates to join its Life, Financial Services, and Life Technology Solutions (LTS) practice for an internship/co-op work term. The candidate will be assigned to work in either the Mergers and Acquisitions or the Financial Risk Management...

  • Associate Actuary

    6 days ago

    Chicago, Illinois, United States Milliman Full time $101,420 - $172,480 per year

    DescriptionThe Chicago office of Milliman Inc. is looking for bright, enthusiastic, and qualified candidates to work in their Financial Risk Management (FRM) practice.Milliman's rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether...

  • Actuarial – M&A Consulting Actuary – US Life

    3 days ago

    Chicago, Illinois, United States Oliver Wyman Full time $100,000 - $195,000 per year

    Remote type:HybridLocations:Flexible (preference for New York, Chicago, Boston)Time type: Full time*Company Overview*The Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a rapidly growing practice with offices across the globe. Our actuaries hold the highest professional qualifications...

  • Actuarial – Life Insurance Principal – Life

    5 days ago

    Chicago, Illinois, United States Oliver Wyman Full time $185,000 - $270,000 per year

    Remote type: HybridLocations: FlexibleTime type: Full timeCompany OverviewThe Actuarial Consulting Practice of Oliver Wyman advises clients across a broad spectrum of risk management issues. We are a large and established practice with offices across the globe. Our actuaries hold the highest professional qualifications and are nationally recognized as...

  • Early Careers: US Reinsurance Actuarial Analyst

    7 days ago

    Chicago, Illinois, United States Aon Full time $65,000 - $90,000 per year

    Early Careers: Actuarial Programmer InternAon Reinsurance Solution's actuarial team provides advanced analytics at global scale by leveraging Aon's position as the industry-leading broker of reinsurance. The qualified candidate, as part of the Innovation Team, will help develop and automate these analytics. This role is based in our downtown Chicago...

  • Actuary - Reserving

    1 week ago

    Chicago, Illinois, United States Brookfield Wealth Solutions, Ltd Full time $125,500 - $163,000

    Argo Group International Holdings, Inc. and American National, US based specialty P&C companies, (together known as BP&C, Inc.) are wholly owned subsidiaries of Brookfield Wealth Solutions, Ltd. ("BWS"), a New York and Toronto-listed public company. BWS is a leading wealth solutions provider, focused on securing the financial futures of individuals and...

  • Actuarial Intern

    3 days ago

    Chicago, Illinois, United States Chubb Full time $18,000 - $24,000 per year

    Job DescriptionCombined Insurance, a Chubb company, is seeking anActuarial Internto join our fast-paced, high energy, growing company for a Summer 2026 internship. Combined Insurance is a leading provider of individual supplemental accident, disability, health and life insurance products. We pride ourselves on being customer-centric, people-driven,...

  • Hedging & ALM Associate

    7 days ago

    Chicago, Illinois, United States Milliman Full time $85,100 - $140,500 per year

    The DepartmentMilliman FRM LLC is seeking aHedging & ALM Associateto join its Capital Markets Group in Chicago. This position focuses on the design, execution, and monitoring of hedging and ALM programs for insurance and reinsurance clients.The Hedging & ALM Associate will be a member of the Capital Markets Group and work on developing and implementing...

  • Regulatory Filing Actuary

    7 days ago

    Chicago, Illinois, United States Allianz Commercial Full time $130,000 - $155,000 per year

    We are looking for a Regulatory Filing Actuary, based in Chicago or AlpharettaYour TeamThe Technical Pricing Certification team is part of the Global Pricing team at Allianz Commercial.The team is responsible for defining and delivering on Allianz Commercial's strategic vision to be a technically excellent pricing team, with building a robust rate filing...