Senior Actuarial Manager (FSA) – Health Research Team

Milliman•Chicago, IL

3d•Hybrid

About The Position

Milliman’s Health Research Team (HRT) is seeking a highly skilled and motivated Fellow of the Society of Actuaries (FSA) to join our team in a senior actuarial role. The ideal candidate brings 7+ years of actuarial experience, including 3 or more years of direct people management experience, and possesses a strong blend of technical expertise, analytical curiosity, and proven leadership skills. In this role, the candidate will directly manage a team responsible for primary actuarial deliverables while providing subject matter expertise and support to key healthcare actuarial products and Data Quality Analytics functions. Additionally, this role will contribute to research support and ad hoc analytical initiatives across the organization. This role is based out of the Milliman office in Chicago, IL, but candidates hired into this role may work remotely anywhere in the US or in the office on a weekly basis with flexible work arrangements. Travel to Milliman’s Chicago office for three consecutive days each quarter is required.

Requirements

Bachelor's or Master's degree in a quantitative field (Bachelor's degree is required)
Fellow of the Society of Actuaries (FSA) designation from the Society of Actuaries
7+ years of actuarial experience, preferably in health insurance, managed care, or a related field
3+ years of direct people management experience, including performance reviews, goal setting, and employee development
Deep expertise in healthcare cost analysis, claims data, and actuarial modeling
Proficiency in analytical tools such as SQL, R, Python, SAS, or similar
Strong understanding of medical coding systems (ICD-10, CPT, DRG) and claims data structures
Demonstrated ability to lead, motivate, and develop teams in a fast-paced, analytical environment
Ability to work effectively in a cross-functional support capacity, influencing outcomes without direct ownership
Excellent written and verbal communication skills with the ability to present complex findings clearly to diverse audiences
Travel to Milliman’s Chicago office for three consecutive days each quarter is required

Nice To Haves

In-depth experience with healthcare actuarial, underwriting, and rating products, healthcare grouper logic, or clinical classification systems
Familiarity with data governance frameworks and data quality management practices
Experience working in a research or consulting environment
Knowledge of the healthcare regulatory and compliance landscape
Experience with data visualization tools such as Tableau, Power BI, or similar

Responsibilities

Directly manage a team of actuaries and analysts, including responsibility for hiring, onboarding, performance management, and career development
Set clear goals and expectations for direct reports, providing regular feedback, coaching, and performance evaluations
Foster a high-performing, inclusive team culture built on collaboration, accountability, and continuous learning
Support direct reports in their actuarial exam progress and professional development planning
Manage team workload and capacity, prioritizing assignments and ensuring timely delivery of commitments
Serve as a people advocate, escalating team needs and removing barriers to success
Contribute to broader organizational talent initiatives, including recruiting, succession planning, and skills development
Serve as an actuarial subject matter resource to the teams responsible for the development and methodology of health discipline products
Provide analytical input, actuarial review, and technical guidance to support healthcare actuarial product framework updates and enhancements
Assist in validating product logic and methodologies, offering feedback grounded in actuarial expertise and healthcare cost experience
Collaborate with the teams working on the products, to ensure alignment with industry standards, emerging coding practices, and cost trend developments, and other emerging trends
Review and provide feedback on methodology documentation, assumptions, and model change summaries as needed
Act as an actuarial resource and advisor to the data quality analytics function, supporting efforts to assess and improve the integrity of actuarial and claims datasets
Assist in reviewing data validation frameworks, quality scorecards, and anomaly findings from an actuarial perspective
Partner with data quality leads to identify the downstream actuarial impact of data integrity issues and help prioritize remediation efforts
Provide guidance on data standards and best practices relevant to actuarial applications and healthcare cost analysis
Provide actuarial research support on healthcare cost trends, utilization patterns, population health, and related topics
Design and conduct quantitative analyses to support internal research initiatives, white papers, and publications
Synthesize complex findings into clear, actionable insights for both technical and non-technical audiences
Stay current with industry research, regulatory developments, and actuarial literature relevant to health cost analysis
Respond to ad hoc analytical requests from leadership, clients, or cross-functional teams with timely and accurate actuarial analysis
Build and maintain reusable analytical tools, models, and templates to improve team efficiency

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