Actuarial Analyst – Minneapolis (Hybrid/Remote)

The Actuarial Analyst position will assist in completing projects for the Minneapolis Health and Life practice supporting a variety of clients, including healthcare insurers, healthcare providers, and other stakeholders in the healthcare industry. The role will involve actuarial modeling and technical analysis using data processing and modeling software, as well as communication of results verbally and in writing.

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, Milliman offers unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance. The Minneapolis Health and Life practice specializes in providing actuarial and risk management support to our clients in the healthcare and life industries.

What You Will Do

In this role, you will:

• Problem-solve using spreadsheets, databases, and other resources to clean, synthesize, and/or analyze data and information
• Build and maintain actuarial models and exhibits used to support client projects and the presentation of results
• Communicate results to peers and project leaders both verbally and in writing
• Draft client communications, including emails, letters/reports, and PowerPoint presentations
• Review the work of your peers
• Prepare and document project files
• Assist with research and business development projects
• Participate in office committee(s) with peers and leadership to support office management, culture, and activities
• Gain valuable experience working on a variety of projects in the healthcare space
• Have opportunities to work independently and as part of a team
• Participate in the actuarial exam program supporting progression towards ASA and FSA status

What We Are Looking For

Professional Qualifications:

• Degree in actuarial science, statistics, mathematics, or related field
• 2 to 7 years of experience working in an actuarial role in the healthcare space
• Proficient in Excel and Word processing software
• Computer and statistical programming experience, including VBA, SAS, Python, R, and/or Databricks
• Strong analytical and problem-solving skills
• Effective communication skills, with the ability to express complex technical concepts verbally and in writing to diverse audiences
• At least two SOA/CAS exams passed

 Personal Qualifications:

• Excellent attention to detail
• Strong analytical and problem-solving skills
• Excellent communication and interpersonal skills
• Motivation to learn new processes and skills
• Ability to apply knowledge and concepts to a variety of different tasks
• Strong organizational abilities and time-management skills
• Ability to adapt to changes in tasks or timelines
• Ability to work independently and collaborate with a team
• Willingness to occasionally work more than the typical 40-hour workweek, if necessary, to meet client deadlines or individual commitments

Preferred Qualifications:

• Experience working in the Medicare Advantage, Commercial, or Medicaid healthcare markets
• Experience working with healthcare data
• Knowledge of large-scale machine learning tools/platforms such as Databricks
• Experience with cloud computing

 The Team

The Minneapolis Health and Life practice is composed of healthcare and long-term care insurance professionals who provide our clients with industry-leading consulting services. We also develop and maintain innovative products that complement our consulting services. We are an expanding group with experience leading the way in industries that continuously change and evolve. Our office encourages an open and collaborative work environment to help our professionals grow and thrive.

The actuarial team is involved in work that supports all areas of the practice. The analyses and techniques used are cutting edge while providing clients with accurate and easily interpreted business results. Employees balance working independently and collaborating with other team members. Analysts, actuaries, and subject matter experts work closely together to ensure solutions are both accurate and solve the correct problem for the client.

 Location

This role is based out of the Milliman office in Minneapolis, Minnesota, but candidates hired into this role may either work remotely anywhere in the US or in the office on a weekly basis with flexible work arrangements.

Compensation

The salary range is $63,000 – $152,000, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc. If overall experience is less than 4 years the range would be $63,000 – $135,000; for experience of greater than 4 years, the range would be $71,000 – $152,000.

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 8 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.

The expected application deadline for this job is January 15, 2025.