Consulting Actuary – Life Practice (Experienced FSA)

Milliman•Chicago, IL

2d•Hybrid

About The Position

We 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. 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 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

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
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
Proven ability to handle multiple projects and tasks, prioritizing and meeting 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

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

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.