Actuarial Analyst - EB Consulting

Overview

The Employee Benefits (EB) Consulting Practice offers excellent retirement, health, compensation, and investment consulting services to our clients.

This entry level position provides support and assistance to actuarial consultants. Supporting the design and delivery of retirement and health & welfare employee benefits programs by performing data analysis, preparing key deliverables, and assisting with financial reviews. Collaborate with internal teams, ensure compliance with regulations, and contribute insights to enhance benefits strategies. You will be expected to perform this work while maintaining efficient and organized workflows when working with retirement and health & 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.

• Perform data analysis related to pension, OPEB, health and welfare employee benefits programs, including monthly experience reports, short-term projections, IBNR estimates, and retirement plan valuation related work.
• Assist in the design, development, and refinement of benefits programs to align with organizational goals and industry trends.
• Prepare deliverables such as valuation reports, premium equivalent rates, COBRA rates, and plan design analyses.
• Draft communications, including emails for vendor management and client follow‑ups.
• Support financial analyses for RFPs and market checks; conduct ad‑hoc analyses as needed.
• Participate in client calls and document meeting notes and action items.
• Collaborate with internal teams and other Milliman groups.
• Study benefits trends, benchmark against industry standards, and provide insights to enhance benefits strategy.
• Ensure work is delivered efficiently and within communicated deadlines, following applicable processes and documenting appropriately.
• Initiate peer review processes for work products and comply with document and email retention policies.
• Monitor and communicate changes in applicable regulations to consultants to ensure compliance.
• Work within assigned budget or proactively communicate when additional time is required.

• A motivated self‑starter with a strong analytical mindset and attention to detail.
• Demonstrated proficiency in Microsoft Excel and comfort working with large datasets.
• Interest or experience in retirement and health & welfare employee benefits programs.
• Excellent communication skills, both written and verbal, with the ability to draft professional emails and documentation.
• Ability to work collaboratively within a team and across departments.
• Commitment to learning and staying current with industry trends and regulations.
• Strong organizational skills and ability to manage multiple tasks to meet deadlines.
• Willingness to take initiative, seek feedback, and continuously improve processes and deliverables.
• Integrity and respect for confidentiality and compliance with company policies.

• Bachelor's degree in actuarial science, mathematics, statistics, business, or a related field is preferred.
• A minimum of one SOA exam passed.
• 0-2 years of experience as an Actuarial Analyst.
• Strong analytical and quantitative skills; experience with data analysis in employee benefits or health care preferred.
• Proficiency in Microsoft Excel; familiarity with other data analysis tools is a plus.
• Basic understanding of retirement and health & welfare benefits programs and current industry trends is desirable.
• Ability to produce accurate and timely work while following established processes.
• Excellent written and verbal communication skills, including the ability to draft professional emails and documentation.
• Strong organizational skills and attention to detail.
• Ability to work collaboratively in a team environment and interact with cross‑functional teams.
• Willingness to stay updated on relevant regulations governing employee benefits.
• Ability to manage multiple tasks and prioritize workloads to meet deadlines.
• Commitment to maintaining confidentiality and complying with document retention policies.