Portfolio Management Analyst

Milliman; Chicago (IL); On-site; USD 71,000 - 115,000; Full time

Job summary

A leading company in financial risk management is seeking a Portfolio Management Analyst in Chicago. In this entry-level position, you will manage fund operations, prepare client reports, and develop operational tools. The role requires strong analytical skills and familiarity with financial markets. You will be part of a dynamic team that values integrity, quality, and opportunity.

Benefits

Medical, Dental and Vision Coverage

401(k) Plan with company matching

Discretionary Bonus Program

Paid Time Off starting on first day

Flexible Spending Accounts

Qualifications

• Bachelor’s degree with a focus in Actuarial Science, Mathematics, or related fields.
• At least 1 year of relevant experience.
• Strong understanding of financial markets and derivative pricing.

Responsibilities

• Participate in fund management operations and client reporting.
• Develop tools and models for strategy development and client reports.
• Communicate with fund operations counterparties to ensure accuracy in fund assets.

Skills

Microsoft Excel

Communication

Analytical Thinking

Education

Bachelor’s degree in Actuarial Science, Mathematics, Quantitative Finance

Tools

SQL

Power BI

Job description

Join to apply for the Portfolio Management Analyst role at Milliman

Join to apply for the Portfolio Management Analyst role at Milliman

The Department

Milliman Financial Risk Management LLC is a market leader in the field of portfolio management and risk management, with a focus on trading securities and derivatives to manage capital market risks for banks, asset managers, insurance companies, and pension plans. The Portfolio Management Group, located in Chicago, operates as an integrated team to provide these services to clients across the globe, and currently implements risk management investment strategies on over $50 billion in assets. FRM is committed to continual research and development to maintain and enhance its position as an industry leader in financial risk and portfolio management.

The Department

Milliman Financial Risk Management LLC is a market leader in the field of portfolio management and risk management, with a focus on trading securities and derivatives to manage capital market risks for banks, asset managers, insurance companies, and pension plans. The Portfolio Management Group, located in Chicago, operates as an integrated team to provide these services to clients across the globe, and currently implements risk management investment strategies on over $50 billion in assets. FRM is committed to continual research and development to maintain and enhance its position as an industry leader in financial risk and portfolio management.

The Role

The Portfolio Management Analyst contributes to our client services in a variety of ways, including fund management operations, client reporting, coding projects, documentation work, and client presentation materials. Portfolio Management Analysts are responsible for the completion of our regular fund management operations, including our daily strategy calculations, scheduled and ad-hoc client reports, and programming automation tools to support the team’s workflows.

Your Responsibilities

• Participate in an immersive learning experience to familiarize yourself with our operational process and systems for implementation of risk management strategies.
• Learn through hands-on utilization of Milliman’s risk systems by running daily fund management operations.
• Compile and verify client reports, including performance attribution reports, risk reports, and portfolio allocation reports.
• Communicate with fund operations counterparties (custodian banks, fund accountants, trading partners) to reconcile any differences in account statements and ensure accuracy in our representation of fund assets.
• Develop and build tools and models to assist in strategy development, validation, and client reporting.
• Develop knowledge of derivative markets and risk management techniques, and provide support for research, consulting, and advisory work.
  
  

Job Knowledge, Experience Skills

Job Knowledge Required

• Bachelor’s degree with a focus in Actuarial Science, Mathematics, Quantitative Finance, or related fields.
• At least 1 year of relevant experience (excluding internships).
• Ability to work effectively with Microsoft Office, in particular Excel/VBA, PowerPoint, and Word.
• Strong understanding of financial markets, mutual funds, portfolio management, option pricing or option replication, derivative pricing, and hedging concepts.
• Coding knowledge and ability to think algorithmically/systematically.
  
  

Experience And Soft Skills Required

• Strong written and verbal communication skills
• Proven record of reliability and dedication to high quality work.
• Strong record of professional examinations and continued pursuit (SOA Exams, CFA Exams, FRM Exams).
• Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas.
• Demonstrated aptitude for quantitative and critical thought.
• Ability to work in a fast-paced environment where the client is always our first priority.
• Ability to work both collaboratively and independently.
• Object oriented programming experience and working with databases (SQL, Access).
• Experience with Microsoft Power suite (Power Apps, Power Automate, Power BI).
  
  

Milliman & FRM Practice Mission, Values, Competencies

Our mission is to serve our clients to protect the health and financial well-being of people everywhere. We are influential market leaders, solving important problems through our deep subject matter expertise.

In fulfilling this mission and values, Milliman’s professionals are helping our clients answer significant questions, such as:

• How can people provide for themselves when they no longer work?
• How can our clients efficiently finance, deliver and improve healthcare?
• How can an insurer protect its clients against the risks they face?
  
  

Since its founding in 1947, Milliman is dedicated to enduring values that govern our actions in the marketplace.

• Quality – Milliman’s advice, products and client service adhere to the highest standards of quality.
• Integrity – Milliman’s people demonstrate integrity in all that we do. We are committed to honesty and professionalism in our interaction with our clients and colleagues, including independent advice free of conflicts and a culture of inclusion and respect for all colleagues.
• Opportunity – Milliman is committed to embracing diversity and providing all our people opportunities to achieve their full potential including opportunities to:
• Shape their own careers
• Assist in developing the strategy of their practice
• Pursue innovations to further Milliman’s mission in the marketplace
  

Benefits

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.
• Employees working less than full-time accrue PTO on a prorated basis.
• Holidays – A minimum of 10 observed 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.
  

Compensation

The salary range for this role is $71,720 - $114,620, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

Location

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered.

Equal Opportunity

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

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Business Consulting and Services

Referrals increase your chances of interviewing at Milliman by 2x

Sign in to set job alerts for “Portfolio Management Analyst” roles.

Investment Banking Analyst - Mergers & Acquisitions (M&A)

Analyst, Asset Management (Based in Chicago, USA)

Chicago, IL $75,000.00-$85,000.00 2 weeks ago

Analyst - Finance & Portfolio Valuations

Chicago, IL $70,000.00-$90,000.00 1 minute ago

Investment Analyst / Business Development

Chicago, IL $63,000.00-$84,000.00 4 days ago

Chicago, IL $49,305.00-$71,645.00 2 weeks ago

Deerfield, IL $79,300.00-$127,000.00 6 days ago

Northbrook, IL $68,000.00-$100,000.00 1 day ago

Chicago, IL $83,300.00-$90,000.00 1 week ago

Chicago, IL $200,000.00-$245,000.00 5 days ago

Chicago, IL $88,000.00-$110,000.00 6 days ago

Research and Clinical Trials Financial Planning Analyst-16656

Chicago, IL $83,300.00-$90,000.00 2 weeks ago

Financial Analysis Vice President - Finance & Business Management

Chicago, IL $60,200.00-$128,800.00 1 week ago

Chicago, IL $90,000.00-$105,000.00 1 week ago

Chicago, IL $112,700.00-$204,000.00 1 week ago

Business Analyst – Digital Commerce, Merchandising, and Analytics

Chicago, IL $125,000.00-$150,000.00 2 weeks ago

Business Analyst (Bank Deposits Operations)

Chicago, IL $102,890.67-$139,637.34 1 month ago

Chicago, IL $55,000.00-$70,000.00 1 day ago

Executive Search Analyst, Financial Officers Practice

We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.