Actuarial Intern - Summer 2024 Internship/Co-Op (May/June 2024 Start) – FRM, Life, LAPA, & LTS Practices

Milliman

Sep 28, 2023

Applications are closed

Internship
Full-time
Off-cycle Internship
Banking & Finance
Chicago

Requirements

Required:
Currently enrolled in a Bachelors or Masters level academic program in Actuarial Science or another program of study similarly focused on mathematics, quantitative analysis and/or programming
Completion of at least one Society of Actuaries (SOA) exam and actively pursuing the FSA, FRM, or CFA designation
Desired:
One, or more, prior internships, preferably with a focus on learning and applying technical skills
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 SAS, C++, C#, and other programming languages a plus
Experience with MG-ALFA or other 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

Responsibilities

Mergers & Acquisitions:
The Mergers and Acquisitions role would potentially be involved in the following type of projects:
Merger and acquisition projects, covering a range of valuation metrics and functions including pricing, modeling, asset liability management, cash flow testing, statutory, tax, and GAAP valuation.
Merger and acquisitions due diligence including review of assumptions, risks and operations of the business.
Evaluating the appropriateness of modifying product features in reducing a company's risk exposure
Other projects including development of new products for financial services companies, risk-based capital impact analysis and developing economic capital models under various frameworks
Financial Risk Management:
The Financial Risk Management role would potentially be involved in the following types of projects:
Designing and executing scalable dynamic hedging programs to manage equity guarantee risk and meet strategic risk management objectives
Pricing and developing new products for financial services companies
Building stochastic models for hedging, GAAP, statutory valuation, and/or appraisals of Variable Annuities and/or Fixed Indexed Annuities business
Merger and acquisitions due diligence including review of assumptions, risks and operations of Variable Annuities and/or Fixed Indexed Annuities business
Evaluating the appropriateness of exotic derivatives in reducing a company's risk exposure
Determining the impact of various risk management programs with respect to M&A transactions

Milliman

It Takes Vision.

Consulting

Industry

1001-5000

Employees

1947

Founded Year

Mission & Purpose

Milliman is among the world’s largest independent actuarial and consulting firms. Founded in Seattle in 1947, Milliman has offices in key locations worldwide. Through consulting practices in employee benefits, healthcare, investment, life insurance and financial services, and property & casualty/general insurance, Milliman serves the full spectrum of business, financial, government, union, education, and nonprofit organizations. In addition to consulting actuaries, Milliman’s body of professionals includes numerous other specialists, ranging from clinicians to economists.