New

Quantitative Analyst

Milliman, Inc
life insurance, parental leave, paid time off, paid holidays, 401(k)
United States, Illinois, Chicago
71 South Wacker Drive (Show on map)
Mar 13, 2026
Description The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice. Milliman's rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether you're looking to improve capital efficiency, comply with regulatory requirements, or guard against market volatility, Milliman offers a complete range of operational, strategic, and financial risk management solutions and tools. We have a focused, multi-disciplinary team of actuaries, financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements. We hire the best in the business-and then trust them to do their work their way. It's about personal responsibility, creativity, flexibility. We believe great work happens in great work environments. Our culture is highly collaborative with value placed on high quality work and innovation. The Department The Strategy Research group, within Milliman's Financial Risk Management Practice, develops investment and risk management strategies, researches financial derivatives valuation models, and implements portfolio and hedge optimization methodologies. The Role The Quantitative Analyst will have the following responsibilities: Implement and productionize portfolio construction workflows. Collaborate across multiple internal teams, including Capital Markets, Portfolio Management, Trading Technology, and Quantitative Development to meet business development pipelines. Document and effectively communicate analytical results to clients, traders, and portfolio managers. Create development tools to expand our capabilities and improve operational efficiency. Monitor and improve existing models and daily calibrations. Job Knowledge, Experience Skills Job Knowledge Required: Bachelor's Degree in math, physics, engineering, computer science or quantitative finance Years' industry experience: <1 year Years' functional experience: <1 year Prior Milliman internship experience (preferred) Coding/algorithm design skills, C#/F# (preferred) Demonstrated proficiency in computer programming languages, including C#/F# (preferred) Experience carrying out quantitative financial analysis, preferably based on portfolio and option valuation theories (preferred) Experience and Soft Skills Required: Demonstrated interest in quantitative finance Demonstrated strong written and verbal communication skills Capacity for leadership Creative and practical problem solving The ability to work independently and in a team environment A results-oriented work ethic 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. The expected application deadline for this job is March 31, 2026. Compensation The overall salary range for this role is $68,080 - $109,020. A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc. 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 paid 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. 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. Qualifications Education Bachelors of Computer Science (required) Bachelors of Engineering (required) Bachelors of Physics (required) Bachelors of Mathematics (required) 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.