Actuarial Analyst (Life & Annuity)

Milliman; Seattle (WA); On-site; USD 78,000 - 136,000; Full time

Benefits offered by this job

Medical, Dental & Vision

401(k) with company match

Paid time off

Holidays

Family building benefits

Paid parental leave

Life Insurance & AD&D

Short-Term & Long-Term Disability

Job summary

Milliman is seeking an Actuarial Analyst in Seattle to support client engagements with high-quality actuarial analyses and financial modeling under supervision. This role targets analysts with 2–4 years of experience near ASA completion.

The team works on a broad set of topics including valuation, forecasting, pricing, ALM, and regulatory reporting, offering international exposure and professional growth.

Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, economics, or related quantitative field.
• 2–4 years of relevant actuarial experience.
• Progress toward ASA designation; intent to pursue FSA.
• Hands-on experience with life and annuity products, U.S. and Bermuda reporting, actuarial pricing/projection systems (MG-ALFA or similar).
• Experience with AI-related work or research.

Responsibilities

• Perform actuarial analyses and modeling to support client engagements.
• Build, enhance, and maintain actuarial and financial models for valuation, forecasting, pricing, and risk management.
• Produce well-documented work meeting internal quality standards.
• Assist with statutory, GAAP, and international reporting requirements.
• Communicate results to project teams and participate in client meetings as needed.
• Support business development activities with research and model development.

Skills

Actuarial analysis

Team collaboration

Communication

Analytics

Education

Bachelor’s degree in actuarial science or related quantitative field

Tools

MG-ALFA

Excel

SAS

SQL

Python

R

Job description

Position Summary

The Actuarial Analyst will support client project work by producing high-quality actuarial analyses and financial modeling deliverables under the direction of a Principal, Consulting Actuary, or Consultant. This role is designed for experienced analysts (2–4 years of relevant experience) who are near attainment of the Associate of the Society of Actuaries (ASA) designation and intend to pursue Fellowship of the Society of Actuaries (FSA) credentials.

The Team

We Are a Global Actuarial Consulting Practice Working With Clients Across North America, South America, Asia, And Other International Markets. Our Work Spans a Broad Range Of Actuarial And Financial Topics, Including

• Financial planning and forecasting
• Mergers and acquisitions
• Embedded value and economic capital
• Risk management and stochastic modeling
• Asset-liability management (ALM)
• Principles-based valuation
• Product pricing
• Statutory, GAAP, and international valuation

This role offers variety, technical challenge, international exposure, and strong opportunities for professional growth and advancement.

Location

This role is based out of the Milliman office in Seattle, WA.

Key Responsibilities

• Perform actuarial analyses and modeling to support client engagements, including asset modeling, cash flow testing, financial projections, and reporting.
• Build, enhance, and maintain actuarial and financial models used for valuation, forecasting, pricing, and risk management.
• Produce clear, well-documented, and accurate work products that meet internal quality standards and client expectations.
• Assist with statutory, GAAP, and international reporting requirements, including Bermuda-specific reporting where applicable.
• Communicate analytical results and methodology to project team members and, as appropriate, participate in client meetings or calls under supervision.
• Work with senior actuaries to support business development activities, including research, model development, and proposal support.
• Balance multiple projects and deadlines in a fast-paced consulting environment.
• Occasional domestic and international travel for client work or business development activities.

Required Qualifications

• Bachelor’s degree in actuarial science, mathematics, statistics, economics, or a related quantitative field.
• 2–4 years of relevant actuarial experience.
• Progress toward ASA designation; intent to pursue FSA.
• Hands-on experience with:
• Life and annuity insurance products
• U.S. and/or Bermuda reporting
• Actuarial pricing and projection systems, particularly MG-ALFA® or similar software
• AI related work or research
• Strong technical and analytical skills with the ability to produce accurate, well-documented work.

Technical Skills

• Advanced proficiency in Microsoft Excel.
• Experience of one or more of the following: Access, SAS, SQL, Python, R, and/or Excel VBA.
• Experience with Integrate / MG-ALFA® or similar actuarial systems (required).
• Experience with Tableau and/or Power BI (preferred).
• Experience with AI tools

Preferred Qualifications

• Experience with international or Bermuda regulatory reporting.
• Experience supporting complex financial models in a consulting environment.
• Prior exposure to stochastic modeling, ALM, or valuation frameworks.

Professional Competencies

• Team Player: Collaborates effectively with colleagues across project teams.
• Detail-Oriented: Demonstrates strong attention to accuracy, documentation, and quality control.
• Enthusiastic Learner: Shows curiosity and engagement in solving complex problems.
• Growth-Minded: Motivated by opportunities to take on increasing responsibility and advance professionally.
• Communication Skills: Strong written and verbal communication skills, with the ability to clearly explain technical concepts.

Travel Requirement

• Willingness to travel occasionally, including domestic and international travel, as business needs arise.

The overall range for this role is $77,740 - $136,160.

Benefits

Full-time employees working 30 or more hours per week - US

We offer a comprehensive benefits package designed to support employees’ health, financial security, and well-being. Benefits include:

• Medical, Dental and Vision – Coverage for employees, dependents, and domestic partners.
• Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges.
• 401(k) Plan – Includes a company matching program and profit-sharing contributions.
• Discretionary Bonus Program – Recognizing employee contributions.
• Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis.
• Holidays – A minimum of 10 paid holidays per year.
• Family Building Benefits – Includes adoption and fertility assistance.
• Paid Parental Leave – Up to 12 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D – 100% of premiums covered by Milliman.
• Short-Term and Long-Term Disability – Fully paid by Milliman.

Who We Are

Independent for over 75 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.

Milliman invests in skills training and career development and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG’s) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site (https://www.milliman.com/en/social-impact) to learn more about Milliman’s commitments to our people, inclusion, and sustainability.

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.

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.