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Position: Associate Actuary for Milliman Inc. (Wayne, PA)
Institution: Milliman, Inc.
Location: Philadelphia, Pennsylvania, United States
Duties: Responsible for financial & statistical analysis for insurance clients, including financial models & projections, asset adequacy analyses, capital adequacy studies, risk management, & actuarial model development. Duties include: conduct mathematical & statistical analysis for risk management for Insurance Companies; analyze statistical data, model asset & liability in-force, calculate reserves & work on statutory and GAAP valuations for life insurance companies; analyze statistical data related to mortality, accident & sickness, disability, termination rates; construct probability tables to forecast risk & liability for payment of future benefits; ascertain premium rates required & cash reserves necessary to ensure payment of future benefits; apply knowledge of quantitative finance to analyze risk management strategies for equity based guarantees
Requirements: Master’s degree or foreign equivalent in Actuarial Science, Statistics, or Mathematics plus 2 years’ experience in an actuarial consulting position within the life insurance industry or Bachelor’s degree or foreign equivalent in Actuarial Science, Statistics, or Mathematics plus 5 years’ experience in an actuarial consulting position within the life insurance industry
   
Text: Skip to main content Toggle Navigation Find Opportunities U.S. English British English Deutsch Español Français canadien Português do Brasil U.S. English Simplified Chinese 简体中文 Sign In Associate Actuary for Milliman Inc. (Wayne, PA) Job Category : Actuarial Requisition Number : ASSOC006306 Apply now Posting Details Posted : August 4, 2022 Full-Time Locations Showing 1 location 06-Philadelphia 1550 Liberty Ridge Drive Suite 200 Wayne, PA 190875572, USA 06-Philadelphia 1550 Liberty Ridge Drive Suite 200 Wayne, PA 190875572, USA 0 more less Job Details Description Associate Actuary (Milliman Inc. - Wayne, PA): Responsible for financial & statistical analysis for insurance clients, including financial models & projections, asset adequacy analyses, capital adequacy studies, risk management, & actuarial model development. Duties include: conduct mathematical & statistical analysis for risk management for Insurance Companies; analyze statistical data, model asset & liability in-force, calculate reserves & work on statutory and GAAP valuations for life insurance companies; analyze statistical data related to mortality, accident & sickness, disability, termination rates; construct probability tables to forecast risk & liability for payment of future benefits; ascertain premium rates required & cash reserves necessary to ensure payment of future benefits; apply knowledge of quantitative finance to analyze risk management strategies for equity based guarantees. Position Requirements: Master’s degree or foreign equivalent in Actuarial Science, Statistics, or Mathematics plus 2 years’ experience in an actuarial consulting position within the life insurance industry or Bachelor’s degree or foreign equivalent in Actuarial Science, Statistics, or Mathematics plus 5 years’ experience in an actuarial consulting position within the life insurance industry. Experience must include: 2 years’ experience working with modeling software MGALFA & MG-Hedge; 2 years’ experience working with technologies, including Excel, Access, Excel VBA programming, SAS, Poly System, Python, C++, & Access; 2 years’ experience supporting actuarial appraisals and M&A due diligence; 2 years’ experience in asset modeling, such as generating and validating economic scenarios, investment strategies, & BondEdge files; 2 years’ experience with term life insurance, universal life, investment-linked products, & participating life products; 2 years’ experience with annuity products, such as payout, deferred annuity, & variable annuity; and 2 years’ experience with financial reporting, including calculation of reserves, cash flow testing (CFT), C3P1, C3P2, ALM, and economic capital (EC). About Milliman: Independent for over 70 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. 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. Milliman Benefits At a Glance: At Milliman, we focus on creating an environment that recognizes - and meets - the personal and professional needs of the individual. We offer a competitive benefits package which includes: Medical, dental and vision coverage for employees and their families, including eligible domestic partners. A 401(k) plan with matching program. Paid Parental Leave up to 12 weeks. Profit sharing as a discretionary contribution to employees’ retirement accounts. Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason. Adoption assistance. 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. Job Site: Our office is located at 1550 Liberty Ridge Drive, Suite 200, Wayne, PA 19087. This position is a full-time opportunity. Must be an Associate of the Society of Actuaries. Please apply online at https://careers.milliman.com/en and reference #046804-003. Qualifications Skills Behaviors : Motivations : Education Required Bachelors or better in Actuarial Science or related field. Masters or better in Actuarial Science or related field. Experience Licenses & Certifications Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c) Current Openings You are using an unsupported browser. 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