The Department/TeamWe are a team of consultants with deep actuarial subject matter expertise in individual life and annuity insurance products. Combined with our expertise in technology, financial modeling, and analysis, this enables us to provide our clients with advanced analytics and insights required to develop a comprehensive understanding of the business and to make informed decisions.Your Role/What You’ll Do 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.You will focus on:Modeling and financial projections for actuarial appraisalsDevelopment and analysis of experience studies and actuarial assumptionsAsset adequacy analysis and cash flow testingActuarial due diligence for merger and acquisition transactions, including review of financial metrics, assumptions, risks and operations of the businessDevelopment of valuation models and production processes for US statutory and GAAP reportingRisk and capital assessment, including RBC and economical capital frameworksImplementation of Milliman’s financial modeling and technology solutions, focused on our proprietary MG-ALFA and Integrate platform-based solutionsOther projects including development of new products for financial services companies, risk-based capital impact analysis, and developing economic capital models under various frameworksJob Knowledge, Experience SkillsJob Knowledge Required:Undergraduate degree in Actuarial Science, or a similar mathematical or quantitative program of studyAttainment of the FSA designation with the Society of Actuaries (SOA)Minimum of 7 years of full-time work experience in an actuarial roleExperience and Soft Skills Required:Strong quantitative backgroundProficiency in Excel, VBA and SASInsurance product modeling experience, and MG-ALFA and Integrate experience, in particularAbility to analyze and apply creative problem solving both independently and within a teamSelf-motivated individual with a sense of intellectual curiosity and a results-oriented work ethicProven ability to handle multiple projects and tasks, prioritizing and meeting deadlinesStrong written and verbal communication skills, along with the ability and willingness to clearly articulate ideasThe desire and ability to work in a fast-paced environment where the client is always firstLocationCandidates 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. The expected application deadline for this job is September 17, 2026. CompensationThe 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.BenefitsWe 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 OpportunityAll 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.QualificationsEDUCATIONBachelors or better in Actuarial Science or related fieldEXPERIENCE7 years: Full-time work experience in an actuarial role.Job SummaryRequisition Number: CONSU010077Job Category: ActuarialSchedule: Full-Time
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