Trading Analyst

17-Chicago FRM
71 S. Wacker Drive
31st Floor
Chicago, IL 60606, USA

The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice.

Milliman’s rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether you're looking to improve capital efficiency, comply with regulatory requirements, or guard against market volatility, Milliman offers a complete range of operational, strategic, and financial risk management solutions and tools.

We have a focused, multi-disciplinary team of actuaries, financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements.

We hire the best in the business—and then trust them to do their work their way. It's about personal responsibility, creativity, flexibility. We believe great work happens in great work environments.

Our culture is highly collaborative with value placed on high quality work and innovation.

Milliman FRM LLC is seeking a Trading Analyst to join its Capital Markets Group as a member of the trading team in Chicago. The new team member will play a critical role in growing the organization’s capabilities to trade a wide range of cash securities and derivatives, including fixed income, equities, FX, ETFs, and related exchange traded futures and options, and OTC derivatives.

The trading team executes securities and derivatives transactions in domestic and international markets, to achieve best execution and meet client portfolio management objectives.

The Trading Analyst will be responsible for supporting the Trading team with daily trading related tasks such as trade data entry into various systems, checking blotters and reports to ensure data accuracy, and in general assisting Traders in performing their ongoing duties.

• Primary task is to update and maintain systems of record and models with trade information
• Assist Traders in performing pre-trade order data and information checking
• Identify and reconcile any data discrepancies and follow them through to resolution
• Perform end of day reconciliation between systems of record and trader sheets
• Ongoing process improvement for data entry and checking
• Ability to understand and interpret various types of trades transacted by the trading team
• Help ensure timely deal entry and resolution of issues to meet all reporting requirements.
• Maintain up-to-date process and procedures manuals
• Act as point of contact for data related issues or questions from Operations, Compliance etc.

Required:

• A Bachelor’s degree in a quantitative field such as Computer Science, Economics, Engineering, Mathematics, Actuarial Science, or Physics
• Proficiency in Excel and other similar desktop programs and tools
• Programming skills in languages such as C#, Python or other
• Prior experience in a Trading Analyst role would be preferred
• Ability to multitask and thrive in a fast-paced environment
• Maturity, good judgment, and a professional demeanor
• Experience with electronic trading tools and portals such as Bloomberg etc.
• Knowledge of financial derivatives and structured products
• Ability to understand the broader investment objectives behind trade orders and to consult proactively with portfolio managers and investment analysts
• Strong communication skills and the ability to clearly and quickly communicate ideas and recommendations verbally and in writing

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered.

The expected Final date to receive applications for this job is March 1st, 2026.

The overall salary range for this role is $74,980 - $119,830. A combination of factors will be considered,…