Associate Actuary

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.

Job Description

The NY/NJ Life office of Milliman provides consulting services to a broad array of clients in the life insurance and financial services industries. We are looking for a self-motivated recent or near FSA to work closely with actuarial students and consulting actuaries on a variety of projects, such as due diligence, actuarial modeling in MG-ALFA, and analysis of life insurance books.  A key aspect of this position will be to further enhance the office’s Bermuda jurisdiction offerings for life & annuity (re)insurers, and thus the candidate shuld have prior expereince working in Bermuda for a life/annuity insurer.  This position provides excellent opportuniies for professional development and on-the-job learning.

Job Responsabilities

• Manage aspects of consulting projects, such as taking a leading role in reviewing a line of business as part of a merger and acquisition due diligence engagement
• Interact with clients
• Wok as part of a team on a large model development project – both performing work and managing staff
• Work as a part of a team on a large model development project – both performing work and manging staff
• Assist in preparation of written actuarial reports and opinions
• Manage reserch projects
• Assist in staff training / mentorship
• Work independently to complete tasks

 

Required

 

• 5 to 10 years of experience in life / annuity industry
• Bachelor's degree
• Approximately 2 years of Bermuda life/annuity actuarial experience at a life/annuity insurer
• Demonstrated experience/interest in programming or data science
• Experience developing or maintaining actuarial models, specifically in MG-ALFA as well as significant experience with Microsoft Excel
• ASA with plan to ultimately attain FSA
• Experience working at life/annuity insurer, actuarial consulting practice, or investment firm or investment bank servicing the life insurance industry
• Familiarity with life/annuity products, espacially variable annuities, indexted universal life
• Excellent communication and time management skills
• Desire and ability to adapt to a variable workload, which will from time to time involve working late nights and weekends to meet client demands
• Desire and ability to undestand client business objectives and work independently to complete tasks which may have uncertain or ambiguous requirements
• Abilty to analyze and apply creative problem solving both indepenently and within a team
• Demonstrated critical thinking skills, sound judgment and decision making ability and willingness to clearly articulate your ideas

 

Preferred but not required

 

• Recent FSA, or near FSA but at least an ASA
• Strong preference for candidate with reinsurance sidecar related experience
• Experience with Microsoft Access / AQL, VBA or other database languages such as Python, SAS or R
• Familiarity with fixed income assets, equity derivatives, and interest rate derivatives.
• Familiarity of statutory reporting for life / annuity insurers, especially VA PBR (VM-21) or Life PBR (VM-20), risk-based capital requirements, and asset adequacy testing.
• Familiarity of GAAP accounting for life / annuity insurers, including upcoming changes under LDTI.
• Project management experience.

Location

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