Actuarial Intern — Winter 2027 (M&A / Risk Mgmt)

Milliman; Chicago (IL); On-site; USD 32,000 - 63,000; Full time

Benefits offered by this job

Employee Assistance Program (EAP)

401(k) with company match

Paid Time Off

Transportation benefits

Job summary

Milliman's Chicago office seeks an Actuarial Intern for Winter 2027, assigned to Mergers & Acquisitions, Financial Risk Management, or Life Technology Solutions. You will work on valuations, risk modeling and capital analyses for leading insurers, with on‑the‑job training and mentorship from senior staff.

The role emphasizes strong quantitative skills, actuarial coursework progression, and programming familiarity (Excel/VBA; SAS/C++/C#).

Qualifications

• Currently enrolled in a Bachelor's or Master's level actuarial program.
• Completed at least one SOA exam and actively pursuing FSA/FRM/CFA designation.
• One or more prior internships, preferably with technical focus.
• Strong quantitative background with actuarial modeling experience in life insurance, risk management or investments.
• Proficiency in Excel and VBA; knowledge of SAS, C++, and C# is a plus.
• Experience with MG-ALFA or other actuarial valuation software would be an asset.

Responsibilities

• Work on mergers and acquisitions projects including valuation metrics, pricing, asset liability management, cash flow testing, statutory, tax and GAAP valuation.
• Conduct due diligence reviewing assumptions, risks and operations of the business.
• Assist in developing new products and risk-based capital impact analyses for financial services clients.
• Develop valuation and financial projection models using MG-ALFA and related tools.

Skills

Excel

VBA

SAS

C++

C#

Education

Bachelor's or Master's in Actuarial Science

Tools

MG-ALFA

Job description

Milliman's Chicago office seeks an Actuarial Intern for Winter 2027, assigned to Mergers & Acquisitions, Financial Risk Management, or Life Technology Solutions. You will work on valuations, risk modeling and capital analyses for leading insurers, with on‑the‑job training and mentorship from senior staff.

The role emphasizes strong quantitative skills, actuarial coursework progression, and programming familiarity (Excel/VBA; SAS/C++/C#).