Actuarial Analyst – EB Consulting

Health & Group Benefits Actuaries and Consultants are an integral part of Milliman’s Employee Benefits Consulting practice. We are currently seeking an Actuarial Analyst with 0-1 years of relevant experience with at least one SOA exam success. Our principal values form the foundation of our truly distinctive student program. The Milliman culture provides motivated students with the necessary means to build a successful actuarial career.

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 (https://www.milliman.com/en/social-impact) to learn more about Milliman’s commitments to our people, diversity and inclusion, social impact 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 working with health and group benefit plans. This includes measuring liabilities and annual costs, projecting health plan costs, setting rates and reserves, studying the effects of changes in the design of employee benefit plans, and communicating results.

• 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
• Drafting member communications and documents
• Assisting senior staff in a wide range of strategic actuarial and consulting projects

What We Are Looking For

• BA or BS in Actuarial Science, Mathematics, or related field
• Up to 1-year of relevant experience with at least one Society of Actuaries exam success (two preferred)
• Actively pursuing SOA exams towards actuarial certification
• Strong communication skills
• Ability to handle multiple projects at the same time
• Excellent computer and technical skills, including the ability to use and develop spreadsheet solutions to model complex problems and to work with other business software programs (Sequel experience a plus)
• Ability to work in a collaborative team environment

The Team

The EB Consulting practice provides actuarial and consulting services for multiple industries, for actives and retirees and for Corporate, Public and Multiemployer Plans. This practice works with several key types of clients organized into the following lines of business:

• Pension Plans
• Other Postretirement Benefit Plans
• Health and Group Benefits

Location

This position is based out of the Milliman office in New York, NY or Little Falls, NJ. Candidates hired into this role must be willing to work in-person in the Milliman office on a weekly basis, but flexible work arrangements will be considered for our hybrid environment.

Compensation

The salary range in New York City, NY and Little Falls, NJ is $73,000 – $121,000, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc.

Benefits

At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual and their family. We offer competitive benefits which include the following based on plan eligibility:

• A 401(k) plan with matching program, and profit sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• Commuter Program, which allows you to use pre-tax dollars to pay for your parking or public transit expenses to get to and from work. You may utilize this benefit any time throughout the year and funds will be available the first of the month following your first contribution.
• A minimum of 10 paid holidays
• Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs

Equal Opportunity

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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