Actuarial Analyst - Health & Welfare Benefits (Entry Level)

Milliman; Little Falls (NJ); Hybrid; USD 69,000 - 122,000; Full time

Benefits offered by this job

Medical coverage

Dental coverage

Vision coverage

401(k) matching

Discretionary bonus

FSA

PTO

Holidays

Family building benefits

Paid parental leave

Life insurance

Disability - short/long term

Job summary

Milliman in the United States is seeking an Actuarial Analyst to support health & welfare benefits programs. This entry-level role focuses on data analysis, deliverables, and financial reviews, with collaboration across internal teams.

The candidate should have Excel proficiency and a foundation in data analysis, and be ready to learn in a dynamic benefits consulting environment. The role offers in-person work two days per week at select Milliman offices, with a comprehensive benefits package

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, business, or a related field preferred (or nearing completion in May 2026).
• 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.
• Ability to produce accurate and timely work while following established processes.
• Excellent communication skills, both written and verbal, with the ability to draft professional emails and documentation.
• Commitment to learning and staying current with industry trends and regulations.
• Strong organizational skills and attention to detail.
• Willingness to take initiative, seek feedback, and continuously improve processes and deliverables.
• Ability to work collaboratively in a team environment and interact with cross-functional teams.
• Ability to manage multiple tasks and prioritize workloads to meet deadlines.
• Commitment to maintaining confidentiality and complying with document retention policies.

Responsibilities

• Reconciling claims data, preparing budget projections, calculating claims reserves, pricing plan design changes, analyzing vendor renewals, and preparing experience reports.
• Calculating employer/employee contribution rates, retiree rates, COBRA rates, and imputed income rates.
• Performing postretirement health valuations, including the development of claim cost and health cost trend assumptions, projection of liabilities and calculation and reporting of financial statement information.
• Evaluating vendors via renewals, RFPs, and market checks; conducting financial and ad‑hoc analyses.
• Collaborating with internal teams and other Milliman groups.
• Ensuring quality, timeliness, and budget adherence; following processes, initiating peer review, and maintaining document/email retention.

Skills

Excel

Data analysis

Health & welfare benefits

Education

Bachelor’s degree in actuarial science, mathematics, statistics, business, or related field

Job description

Milliman in the United States is seeking an Actuarial Analyst to support health & welfare benefits programs. This entry-level role focuses on data analysis, deliverables, and financial reviews, with collaboration across internal teams.

The candidate should have Excel proficiency and a foundation in data analysis, and be ready to learn in a dynamic benefits consulting environment. The role offers in-person work two days per week at select Milliman offices, with a comprehensive benefits package