Actuarial Intern - EB Consulting

Milliman, Inc; New Jersey; On-site; USD 39,000 - 63,000; Full time

Benefits offered by this job

Employee Assistance Program (EAP)

401(k) Plan

Paid Time Off (PTO)

Transportation

Job summary

Milliman, Inc. seeks motivated college students for a full-time summer 2027 Actuarial Internship.

The 10-week program runs June 1 to August 5, offering hands-on actuarial exposure, collaboration with consultants, and opportunities to develop technical skills in a supportive team environment.

Qualifications

• Pursuing a quantitative bachelor's degree with interest in actuarial careers.
• Strong Excel skills and comfort with data analysis.
• Effective communication and collaboration abilities.
• Self-driven and motivated to learn in a consulting environment.

Responsibilities

• Provide support to actuarial consultants and work on client deliverables.
• Assist with basic actuarial calculations and government form filings.
• Perform data analysis using Excel and ProVal to support projects.
• Collaborate with project teams to deliver reports and analyses.
• Support senior staff on various actuarial projects.

Skills

Actuarial interest

Excel proficiency

Communication skills

Teamwork

Self-motivation

Education

Bachelor's degree in Mathematics/Statistics/Actuarial Science

Tools

ProVal

Milliman programs

Job description

Milliman's Employee Benefits Consulting Practice is seeking motivated college students for a full-time summer 2027 internship. The internship is a 10-week program, starting June 1st and ending August 5th. This role offers a chance to grow professionally and develop technical skills in the actuarial field. Ideal candidates will have a passion for actuarial science, strong technical abilities, excellent communication and interpersonal skills, and a self‑driven attitude. Success in our practice is fueled by intellectual curiosity, teamwork, and a passion for learning. If you are eager to take on challenges and build a foundation for your actuarial career, we encourage you to apply.

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 (Social Impact | Milliman | Worldwide) 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.

What You Will Do

As an Actuarial Intern, you will provide support and assistance to our actuarial consultants. You will gain hands‑on experience in preparing basic actuarial calculations, government form filings, and other client deliverables. This internship offers a unique opportunity to work alongside experienced professionals and contribute to a wide range of projects, such as:

• Preparing basic actuarial calculations, government form filings, and other client deliverables.
• Reconciling claims data, project future costs, perform claims reserve calculations, price plan design changes, and support postretirement health valuations.
• Performing data analysis using Excel, ProVal, and proprietary Milliman programs to assist with consulting for various employee benefits work areas.
• Collaborating within a project team, including consultants, project managers, analysts, and other interns, to deliver client reports and deliverables.
• Supporting senior staff in various projects.

What We Are Looking For

We are looking for motivated students pursuing a quantitative bachelor's degree who are interested in actuarial careers. Ideal candidates are rising seniors or juniors with strong analytical, communication, Excel, time management skills and show excitement for their professional development. SOA exam progress and prior actuarial‑work related experience are preferred but not required. Join our team and gain valuable experience while contributing to meaningful projects in a collaborative and supportive environment.

Minimum Requirements

• Currently pursuing a bachelor's degree in Mathematics, Statistics, Actuarial Science, Economics, or another major with quantitative coursework.
• Recommended for rising seniors, but applications for rising juniors will be accepted.
• No SOA exams passed are required but preferred.
• Experience with spreadsheets, with proficiency in Microsoft Excel preferred (including formulas, pivot tables, and basic modeling).
• Must reside within 50 miles of an EBC office location and able to be in office twice a week: Seattle, WA, Portland, OR, Dallas, TX and Little Falls, NJ.

Competencies and Behaviors that Support Success in this Role

• Genuine interest in building actuarial skills and experience.
• Prior internship(s) or actuarial‑related work experience is beneficial.
• Effective communication skills and collaboration abilities.
• Strong analytical and problem‑solving skills with attention to detail.
• Strong time management skills, and ability to handle multiple tasks efficiently.
• Ability to work independently and in a team environment.
• Demonstrates integrity in all functions of work.

The Team

The EB Consulting practice delivers innovative actuarial and consulting solutions across a diverse range of industries, serving both active employees and retirees. Our team partners with corporate, public sector, and multiemployer clients, offering tailored expertise in the following key areas:

• Corporate Pension Plans
• Multiemployer Pension Plans
• Public Pension Plans
• Other Postretirement Benefit Plans
• Employer Health Benefits
• Compensation and Benefits Surveys
• Investments

As an intern, you will have the opportunity to work alongside experienced professionals, gain hands‑on experience, and contribute to meaningful projects in these key areas. Join us to learn, grow, and make a difference!

Location

Candidates hired into this role are required to work on site at a designated Milliman office at least two days per week (no relocation, mileage or housing assistance provided).

Compensation

The salary range for this role is $21.00 - $46.00, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

Benefits

• Employee Assistance Program (EAP) - Confidential support for personal and work‑related challenges.
• 401(k) Plan - When an employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan that includes a company matching program and profit‑sharing contributions.
• Paid Time Off (PTO) - Begins accruing on the first day of work; Interns, Temporary, and Seasonal Employees will earn PTO each pay period, based on 1 hour for every 30 hours worked.
• Transportation - Pre‑tax savings for eligible transit and parking expenses.

Equal Opportunity

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.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities. This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.