Actuarial Intern

Description

Milliman's Employee Benefits Consulting Practice is looking for motivated current college student interested in a full-time internship for the summer of 2024. This position provides opportunities for professional growth and technical skill development in the actuarial field. A successful candidate will possess excellent technical, communication, and interpersonal skills and will be self-motivated and driven to achieve. Intellectual curiosity, teamwork, and a strong desire to learn are important drivers of success in our practice.

Who We Are

Independent for 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.

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.

The Team

The Employee Benefits Consulting practice provides actuarial and other consulting services for multiple industries, for actives and retirees and for Corporate, Public and Multiemployer Plans. This practice works with several key types of clients organized into the following seven lines of business:

• Corporate Pension Plans
• Multiemployer Pension Plans
• Public Pension Plans
• Other Postretirement Benefit Plans (Corporate, Multiemployer, and Public combined)
• Health and Group Benefits (Corporate, Multiemployer, and Public combined)
• Compensation and Benefits Surveys
• Investments

What You Will Do

This position provides support and assistance to actuarial consultants. This includes measuring pension liabilities and annual costs, studying the effects of changes in the design of employee benefit plans, and communicating results.

• Prepare basic actuarial calculations, government form filings, and other client deliverables.
• Reconciling claims data, projecting future costs, claims reserve calculations, pricing plan design changes and supporting postretirement health valuations.
• Supporting more senior staff in a wide range of projects

What We Are Looking For

Professional Qualifications

• Working towards a Bachelor's degree in mathematics, Statistics, Actuarial Science, Economics, or another major with quantitative course work
• Interest in an actuarial career
• Solid understanding of basic actuarial concepts
• Proficiency in Microsoft Office

Preferred Qualifications

Prior internship(s) and/or actuarial-related work experience is beneficial but not required.

Location

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

Compensation

The hourly rate for this role is $23 to $39 per hour, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

Benefits

• When an intern, temporary, or seasonal employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan with matching program and profit sharing contribution
• Employee Assistance Program (EAP)
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason. Interns, Temporary, and Seasonal Employees will earn PTO each pay period, with an accrual rate of 1 hour for every 30 hours worked.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)