Senior Actuarial Manager (ASA) - CMH Health

Milliman; Chicago (IL); On-site; USD 100,000 - 208,000; Full time

Benefits offered by this job

Medical, Dental and Vision – Coverage

401(k) Plan – Company match

Discretionary Bonus Program

Paid Time Off – PTO

Holidays – 10+ observed

Family Building Benefits

Paid Parental Leave

Life Insurance & AD&D

Disability – Short/Long term

Job summary

Milliman's CMH Health Practice is seeking a Senior Actuarial Manager to join their growing team in the Chicago area. The role involves leading actuarial projects across Medicaid, Commercial/ACA, Medicare, and more, with responsibility for mentoring staff and coordinating client communications.

Candidates should have ASA designation, 10+ years actuarial experience, and strong Excel/SAS proficiency; remote work considered for some candidates, with preferred on-site collaboration.

Qualifications

• Bachelor’s or master’s degree in a quantitative field.
• ASA designation with the Society of Actuaries (SOA).
• Minimum of 10 years of full time-time actuarial experience
• Thorough understanding of Microsoft Excel and actuarial concepts

Responsibilities

• Perform data analysis using Excel, SAS, and proprietary Milliman programs to assist with consulting for various health insurance work areas (Medicaid, Commercial / ACA, Medicare, Long Term Care, Pharmacy, Provider, and more).
• Provide consulting services in Pricing, Reserving, Financial Projections, and Mergers and Acquisitions.
• Responsible for performing various technical work while delegating most of the work to professional staff to help meet client needs
• Responsible for reviewing the work of others and assisting with research and product development.
• Responsible for teaching and training professional staff working on the projects for which the Senior Actuarial Manager is responsible.
• Responsible for several projects simultaneously providing insight into the technical direction of each project, verifying the initial reasonableness of the solution and creating client communications for review by Consultants (includes data collection, project updates and answering basic technical questions).
• Responsible for progressing with actuarial exams to attain Fellowship in the Society of Actuaries (FSA) designation

Skills

SAS

VBA

Excel

Actuarial concepts

Mentoring staff

Project management

Communication skills

Education

Bachelor’s or Master’s degree in a quantitative field

ASA designation with the Society of Actuaries (SOA)

Job description

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.

Milliman’s CMH Health Practice is seeking a Senior Actuarial Manager to join their vibrant, dynamic, and growing practice. Senior Actuarial Managers will have the opportunity to work in a wide variety of areas within the healthcare industry while working alongside some of the leading experts in the field.

Who We Are

Independent for more than 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.

Job Responsibilities

• Perform data analysis using Excel, SAS, and proprietary Milliman programs to assist with consulting for various health insurance work areas (Medicaid, Commercial / ACA, Medicare, Long Term Care, Pharmacy, Provider, and more).
• Provide consulting services in Pricing, Reserving, Financial Projections, and Mergers and Acquisitions.
• Responsible for performing various technical work while delegating most of the work to professional staff to help meet client needs
• Responsible for reviewing the work of others and assisting with research and product development.
• Responsible for teaching and training professional staff working on the projects for which the Senior Actuarial Manager is responsible.
• Responsible for several projects simultaneously providing insight into the technical direction of each project, verifying the initial reasonableness of the solution and creating client communications for review by Consultants (includes data collection, project updates and answering basic technical questions).
• Responsible for progressing with actuarial exams to attain Fellowship in the Society of Actuaries (FSA) designation.

Minimum Requirements

• Bachelor’s or master’s degree in a quantitative field
• ASA designation with the Society of Actuaries (SOA)
• Minimum of 10 years of full time-time actuarial experience
• Thorough understanding of Microsoft Excel and actuarial concepts

Competencies and Behaviors that Support Success in this Role

• Experience working with SAS, VBA, or other coding languages is advantageous
• Experience mentoring staff and managing projects
• Strong communication skills (both verbal and written)
• Ability to help identify client issues and resources needed to solve problems
• Analytical thinking skills to evaluate analyses for communication to clients
• Ability to help plan and organize work for projects
• Identify project deliverables, meet deadlines, and ensure compliance with quality procedures
• Strong time management skills
• Ability to work independently and within a team
• Client focused and results oriented
• Organizational expertise and flexibility
• Ambition and excitement for professional development within the actuarial field

The Team

Milliman is one of the leading experts in healthcare financing and delivery. We advise clients on a wide range of issues—from assessing the impact of healthcare reform on organizations or populations to streamlining operations while advancing the quality of patient care. Our consulting work is supported by a powerful toolkit of data analytics solutions and informed by the most trusted, comprehensive set of cost guidelines in the industry. 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.

Location

It is preferred that candidates work on-site at our Chicago, IL, Milwaukee, WI, or Hartford, CT office. Remote candidates will be considered. The expected application deadline for this job is November 22, 2026.

Compensation

The overall salary range for this role is $100,400 – $208,380. For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Newark, San Jose, San Francisco, Pennsylvania, Virginia, Washington, or the District of Columbia, the salary range is $115,460 – $208,380.
• All other states salary range is $100,400 – $181,200.

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, and 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 11 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.

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.