The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.
Milliman's rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether you're looking to improve capital efficiency, comply with regulatory requirements, or guard against market volatility, Milliman offers a complete range of operational, strategic, and financial risk management solutions and tools.
We have a focused, multi-disciplinary team of actuaries, financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements.
We hire the best in the business-and then trust them to do their work their way. It's about personal responsibility, creativity, flexibility. We believe great work happens in great work environments.
Our culture is highly collaborative with value placed on high quality work and innovation.
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:
- 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 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
- Strong quantitative background with actuarial modeling experience in life insurance, risk management or investments
- Understanding of capital markets and modern finance concepts (option pricing, portfolio theory, etc.)
- Proficiency in Excel and VBA. Knowledge of SQL, C++, C#, and other programming languages a plus
- Python coding is a plus
- Experience with actuarial valuation software would be an asset
- Ability to analyze and apply creative problem solving both independently and within a team
- Excellent project management skills, including communication and time management skills
- Self-motivated individual with a sense of intellectual curiosity and a results-oriented work ethic
- Sharp critical thinking skills, sound judgment and decision making ability, and both the ability and willingness to clearly articulate your ideas
- Proven ability to work in a fast-pace environment where the client is always first
- An inherent sense of the value of collaboration
At Milliman, we focus on creating an environment that recognizes - and meets - the personal and professional needs of the individual. We care about your career growth, and your work-life balance. We offer a competitive benefits package which includes:
- Medical, dental and vision coverage for employees and their families, including eligible domestic partners.
- A 401(k) plan with matching program
- Profit sharing as a discretionary contribution to employees' retirement accounts
- Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason.
- Voluntary benefits such as additional life or accidental death and dismemberment coverage for yourself or dependents
- Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs