Actuarial Analyst- FRM, Chicago Life, and LTS

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. Your Role/What You'll Do: You will:

• 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

Your Qualifications: Required:

• 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. The expected application deadline for this job is April 30, 2026.

Compensation

The salary range for this role is $77,740 - $136,160, 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. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor. Apply tot his job Apply To this Job