Actuarial Analyst - EB Consulting (Health & Group Benefits)

Milliman•Albany, NY

3d•$60,300 - $121,500•Hybrid

About The Position

The Employee Benefits (EB) Consulting Practice offers excellent retirement, health, compensation, and investment consulting services to our clients. We are seeking an analytical and detail-oriented Actuarial Analyst to support retirement and health & welfare employee benefits programs. The ideal candidate will have strong Excel skills, a foundation in data analysis, and an interest in benefits consulting. You will prepare deliverables, assist with financial analyses, and ensure compliance with regulations while collaborating with internal teams. If you are proactive, organized, and eager to grow in the benefits field, we encourage you to apply—including recent graduates and students graduating in May 2026. Who We Are Independent for over 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world’s most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation. Milliman invests in skills training and career development and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG’s) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site Social Impact | Milliman | Worldwide to learn more about Milliman’s commitments to our people, inclusion, and sustainability. Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance. What You Will Do This entry level position provides support and assistance to actuarial consultants. Supporting the design and delivery of health & welfare employee benefits programs by performing data analysis, preparing key deliverables, and assisting with financial reviews. You will be expected to perform this work through collaboration with internal teams while maintaining efficient and organized workflows. This job includes: Reconciling claims data, preparing budget projections, calculating claims reserves, pricing plan design changes, analyzing vendor renewals, and preparing experience reports. Calculating employer/employee contribution rates, retiree rates, COBRA rates, and imputed income rates. Performing postretirement health valuations, including the development of claim cost and health cost trend assumptions, projection of liabilities and calculation and reporting of financial statement information. Evaluate vendors via renewals, RFPs, and market checks; conduct financial and adâhoc analyses. Collaborate with internal teams and other Milliman groups. Ensure quality, timeliness, and budget adherence; follow processes, initiate peer review, and maintain document/email retention. What We Are Looking For We are looking for a motivated and detail-oriented professional with strong analytical skills and proficiency in Excel. The ideal candidate communicates effectively, works well in teams, manages multiple tasks efficiently, and is eager to learn and stay current with industry trends. Integrity, initiative, and commitment to high-quality, confidential work are essential. We encourage recent graduates and students graduating by May 2026 to apply.

Requirements

A motivated self-starter with a strong analytical mindset and attention to detail.
Demonstrated proficiency in Microsoft Excel and comfort working with large datasets.
Interest or experience in health & welfare employee benefits programs.
Excellent communication skills, both written and verbal, with the ability to draft professional emails and documentation.
Commitment to learning and staying current with industry trends and regulations.
Strong organizational skills and ability to manage multiple tasks to meet deadlines.
Willingness to take initiative, seek feedback, and continuously improve processes and deliverables.
Ability to work collaboratively within a team and across departments.
Integrity and respect for confidentiality and compliance with company policies.

Nice To Haves

Bachelor’s degree in actuarial science, mathematics, statistics, business, or a related field preferred (or nearing completion in May 2026).
A minimum of one SOA exam passed.
0-2 years of experience as an Actuarial Analyst.
Strong analytical and quantitative skills; experience with data analysis in employee benefits or health care preferred.
A motivated self-starter with a strong analytical mindset and attention to detail.
Proficiency in Microsoft Excel.
Familiarity with other data analysis tools is a plus.
Ability to produce accurate and timely work while following established processes.
Excellent communication skills, both written and verbal, with the ability to draft professional emails and documentation.
Commitment to learning and staying current with industry trends and regulations.
Strong organizational skills and attention to detail.
Willingness to take initiative, seek feedback, and continuously improve processes and deliverables.
Ability to work collaboratively in a team environment and interact with cross-functional teams.
Ability to manage multiple tasks and prioritize workloads to meet deadlines.
Commitment to maintaining confidentiality and complying with document retention policies.

Responsibilities

Reconciling claims data, preparing budget projections, calculating claims reserves, pricing plan design changes, analyzing vendor renewals, and preparing experience reports.
Calculating employer/employee contribution rates, retiree rates, COBRA rates, and imputed income rates.
Performing postretirement health valuations, including the development of claim cost and health cost trend assumptions, projection of liabilities and calculation and reporting of financial statement information.
Evaluate vendors via renewals, RFPs, and market checks; conduct financial and adâhoc analyses.
Collaborate with internal teams and other Milliman groups.
Ensure quality, timeliness, and budget adherence; follow processes, initiate peer review, and maintain document/email retention.

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.