Actuarial Intern - Summer 2025 - Western Region Property and Casualty

Milliman, Inc
paid time off, 401(k), profit sharing
United States, Texas, Richardson
Dec 20, 2024
Description 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, mortgage and healthcare financing, risk management, regulatory compliance, data analytics, and business transformation. Milliman invests in skills training and career development and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERGs) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site (https://www.milliman.com/en/social-impact) to learn more about Milliman's commitments to our people, diversity and inclusion, social impact, and sustainability. Milliman's Western Region Property and Casualty practice focuses on developing and introducing insurtech solutions into insurance rating and sales processes, and applying advanced actuarial techniques to develop innovative insurance products for traditional and start-up insurers and the associated state regulatory rate filing support. We also do traditional actuarial work such as ratemaking, reserving, predictive modeling and competitive analysis, plus a variety of special projects. The Opportunity Milliman's Western Region Property and Casualty practice welcomes motivated college students pursuing a bachelor's or master's degree to partake in a summer actuarial internship. We offer competitive pay and the opportunity to work on challenging projects with practical on-the-job experience. As a summer intern, you'll work alongside Milliman consultants who are leading in the property and casualty insurance industry, including those in senior management. You'll be welcome at professional staff meetings, department meetings, and a variety of practice-wide and intern-specific social events. Over 10 weeks, you'll gain exposure to a variety of actuarial functions, such as product development, pricing, and reserving, concluding with the opportunity to present to your Milliman colleagues. You'll also receive on-the-job mentorship from experienced actuaries, and actionable feedback to grow in your career. We believe that the actuarial skillset has important applications across both our traditional actuarial work and our work supporting new and developing markets. As such, we are committed to developing a pipeline of actuarial talent and future leaders of the firm through exam support and interaction with senior colleagues. Responsibilities may include: Input and manipulate data in Excel workbooks Perform data analysis using Excel, VBA, SAS, R, Python Predictive modeling using GLM and non-linear methods to support rate analyses Prepare and submit state regulatory filing support Prepare loss reserve analyses Populate capital loss model templates Coordinate with Consultants and other Analysts as a project team to deliver client reports and deliverables Conduct research that supports work for any of our client projects What We Are Looking For Professional Qualifications At least one actuarial exam passed at the time of application Pursuing a degree in actuarial science, mathematics, or a related major with quantitative coursework (must be enrolled in a bachelor's or master's program at the time of the internship to qualify) Experience using MS Excel, Word, PowerPoint, Outlook, and Teams Experience using SAS, R, SQL or Python and/or other modeling or coding languages preferred Prior internship(s) or related work experience preferred Personal Qualifications Strong communication skills - both in-person and written - in order to successfully collaborate with colleagues and clients Analytical thinking skills, considering downstream impact Can complete project-related tasks, meet deadlines, and comply with quality control procedures Demonstrates professionalism and integrity in all functions of work Self-starter, takes initiative to do more Works well independently and within a team, as well as when working virtually and remotely Ambition and excitement for professional development in the actuarial field Intellectual curiosity about the topics of risk, Milliman, and the work of our practice Inspired to perform well by the ability to contribute to the success of a project or organization Strong time management skills Milliman Benefits (Intern, temporary, and seasonal employees - U.S.) * 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. * Commuter Program, which allows you to use pre-tax dollars to pay for your parking or public transit expenses to get to and from work. You may utilize this benefit any time throughout the year and funds will be available the first of the month following your first contribution. Location This is a remote position. Candidates hired into this role may work onsite in select Milliman office locations (Irvine CA, Denver CO, or TX). Compensation The pay range for this role is $19-36/hour depending on a combination of factors, including but not limited to education (including passed actuarial exams), relevant work experience, qualifications, skills, certifications, location, etc.). This position is expected to be full-time at 37.5 hours per week for 10 weeks, beginning in May or June 2025. 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. #LI-LS1 #LI-Hybrid The expected application deadline for this position is January 15, 2025. 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)