Associate Actuary (ACAS) - Chicago Property and Casualty

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, mortgage 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 (ERGs) 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 (https://www.milliman.com/en/social-impact) to learn more about Milliman's commitments to our people, diversity and inclusion, social impact and sustainability.

Milliman's Chicago-based Property and Casualty practice is one of the leading experts in P&C insurance matters. We advise clients on a wide range of issues - including loss reserving and ratemaking for commercial lines of insurance, including medical professional liability, workers' compensation, auto liability and general liability. The Chicago casualty practice's clients include Fortune 500 corporations, healthcare institutions, privately held companies, public entities, captive insurers and reinsurers. Our consulting work is supported by a powerful toolkit of analytics software solutions. As innovators in risk assessment, Milliman embraces technology and builds renowned data-driven tools that evaluate risk for a wide variety of applications.

The Opportunity

On a day-to-day basis, the Associate Actuary will drive complex projects that contribute to our clients' business strategy. Working autonomously and with project team members, they will be expected to produce high-quality analytical work and delegate some tasks to junior staff. Much of this person's work will involve complex data manipulation and summarization in Excel, but supplemental programming, statistical, and database skills are highly valued and will open up additional opportunities for impactful client assignments and advancement.

Our ideal Associate Actuary enjoys thinking critically to solve a client's business problems; demonstrates professionalism and strong communication skills in all internal and external interactions; pairs their strong technical skills with creativity; and possesses a strong work ethic and intrinsic motivation.

Actuaries in this practice are expected to pursue Fellowship with the Casualty Actuarial Society (CAS) by taking and passing actuarial examinations, and are provided time and monetary resources to support this pursuit.

Responsibilities will include:

• Oversee the execution of projects, whether ad hoc or longer-term
• Direct interaction with client and/or client's other vendor partners (e.g., broker, captive manager, auditor)
• Draft written reports and exhibits, and prepare other internal/external correspondence
• Direct, train and provide guidance to Actuarial Analysts (e.g. data cleaning, checking)
• Comply with internal quality control, risk management, and peer review guidelines
• Participate in marketing opportunities including publications and presentations
• Present findings to peers, project managers, and client relationship managers
• Check their own and peers' work for accuracy in the mechanics as well as the methodology
• Write detailed documentation to keep track of how data is compiled for specific projects
• Implement process improvements to produce better results
• Perform or assist with other duties assigned at the direction of practice Principals

What We Are Looking For

Professional Qualifications

• Associate credential from the Casualty Actuarial Society (ACAS), at the time of application
• Between three and seven years of fulltime actuarial work experience in reserving and/or pricing
• Completed Bachelor's degree or higher at the time of application, including quantitative coursework in actuarial science, mathematics, statistics, etc.
• Proven proficiency in complex data analysis using MS Excel
• Experience using MS PowerPoint, Outlook, Teams and Word
• Familiarity with R, SAS, VBA, and/or other coding languages is welcome

Personal Qualifications

• A passion for storytelling with numbers; ability to analyze raw data, draw conclusions, develop actionable recommendations and deliver to clients with confidence
• Superb attention to detail and dedication to technical accuracy
• The ability to work collaboratively and organize various client needs simultaneously across multiple concurrent projects
• Accustomed to working in a fast-paced environment, willing to put in extra effort when required
• Strong communication skills - both in-person and written
• Can complete project deliverables, meet deadlines, and ensure compliance with quality procedures
• Utmost professionalism and integrity
• Intellectual curiosity about the topics of risk, Milliman, and the work of our practice
• Self-starter, takes initiative and works well independently and within a team

Location

This is a remote position. Candidates hired into this role may work onsite in Milliman's Chicago or Milwaukee office locations if they prefer. Candidates must be willing to travel as needed nationwide for meetings, conferences, and team events. The expected application deadline for this job is July 11, 2025.

Compensation

The overall salary range for this role is $92,200 - $188,160. For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Pennsylvania, Virginia, Washington, or the District of Columbia the salary range is $101,420 - $172,480.
• New York City, Newark, San Jose, or San Francisco the salary range is $110,640 - $188,160.
• All other locations the salary range is $92,200 - $156,800.

A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.

Milliman 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.

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.

#LI-LS1

#LI-Remote