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Senior Actuarial Manager; FSA - Health Research Team

Job in Chicago, Cook County, Illinois, 60290, USA
Listing for: Milliman, Inc
Full Time position
Listed on 2026-05-11
Job specializations:
  • Finance & Banking
    Actuary
Salary/Wage Range or Industry Benchmark: 60000 - 80000 USD Yearly USD 60000.00 80000.00 YEAR
Job Description & How to Apply Below
Position: Senior Actuarial Manager (FSA) - Health Research Team

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.

Who We Are

The HRT supports Milliman products and practices in a variety of capacities, including financial functions, client support, project management, data engineering, and data analytics services.

Job Responsibilities People Management & Leadership
  • Directly manage a team of actuaries and analysts, including responsibility for hiring, onboarding, performance management, and career development.
  • Set clear goals and expectations for direct reports, providing regular feedback, coaching, and performance evaluations.
  • Foster a high‑performing, inclusive team culture built on collaboration, accountability, and continuous learning.
  • Support direct reports in their actuarial exam progress and professional development planning.
  • Manage team workload and capacity, prioritizing assignments and ensuring timely delivery of commitments.
  • Serve as a people advocate, escalating team needs and removing barriers to success.
  • Contribute to broader organizational talent initiatives, including recruiting, succession planning, and skills development.
Healthcare Actuarial Product Development – Support Role
  • Serve as an actuarial subject matter resource to the teams responsible for the development and methodology of health discipline products.
  • Provide analytical input, actuarial review, and technical guidance to support healthcare actuarial product framework updates and enhancements.
  • Assist in validating product logic and methodologies, offering feedback grounded in actuarial expertise and healthcare cost experience.
  • Collaborate with the teams working on the products to ensure alignment with industry standards, emerging coding practices, and cost trend developments.
  • Review and provide feedback on methodology documentation, assumptions, and model change summaries as needed.
Data Quality Analytics – Support Role
  • Act as an actuarial resource and advisor to the data quality analytics function, supporting efforts to assess and improve the integrity of actuarial and claims datasets.
  • Assist in reviewing data validation frameworks, quality scorecards, and anomaly findings from an actuarial perspective.
  • Partner with data quality leads to identify the downstream actuarial impact of data integrity issues and help prioritize remediation efforts.
  • Provide guidance on data standards and best practices relevant to actuarial applications and healthcare cost analysis.
Research Support
  • Provide actuarial research support on healthcare cost trends, utilization patterns, population health, and related topics.
  • Design and conduct quantitative analyses to support internal research initiatives, white papers, and publications.
  • Synthesize complex findings into clear, actionable insights for both technical and non‑technical audiences.
  • Stay current with industry research, regulatory developments, and actuarial literature relevant to health cost analysis.
Ad Hoc Analytics
  • Respond to ad hoc analytical requests from leadership, clients, or cross‑functional teams with timely and accurate actuarial analysis.
  • Build and maintain reusable analytical tools, models, and templates to improve team efficiency.
Minimum Requirements
  • Bachelor's or Master's degree in a quantitative field (Bachelor's degree is required).
  • Fellow of the Society of Actuaries (FSA) designation from the Society of Actuaries.
  • 7+ years of actuarial experience, preferably in health insurance, managed care, or a related field.
  • 3+ years of direct people management experience, including performance reviews, goal setting, and employee development.
  • Deep expertise in healthcare cost analysis, claims data, and actuarial modeling.
  • Proficiency in analytical tools such as SQL, R, Python, SAS, or similar.
  • Strong understanding of medical coding systems (ICD‑10, CPT, DRG) and claims data structures.
  • Demonstrated ability to lead, motivate, and develop teams in a fast‑paced, analytical environment.
  • Ability to work effectively in a cross‑functional support capacity, influencing outcomes without direct ownership.
  • Excellent written and verbal communication skills with the ability to…
Position Requirements
10+ Years work experience
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