Milliman Care Guidelines

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Actuarial Intern – Winter-Spring (Chicago-Milwaukee Health)

at Milliman Care Guidelines

Posted: 12/25/2019
Job Status: Full Time
Job Reference #: ac543b84-f207-4313-bcf3-049d15c7a092
Categories: Summer Jobs

Job Description

Milliman’s Milwaukee Health Practice is looking for graduates or students pursuing a Bachelor’s or Master’s degree in actuarial science, mathematics, or another major with quantitative course work to partake in a winter-spring internship at their vibrant, dynamic, and growing practice. Actuarial interns 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.

ROLE DESCRIPTION AND RESPONSIBILITIES 

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.

Actuarial winter-spring Interns perform data analysis using Excel, SAS, and proprietary Milliman programs to assist with consulting for various health insurance work areas, such as Medicare, Commercial / ACA, Medicaid, Long Term Care, Pharmacy, Provider, and more. Such consulting activities include Pricing, Reserving, Financial Projections, and Mergers and Acquisitions. Interns are also responsible for reviewing the work of others and assisting with research and product development. Our winter and spring months are considerably more busy than other times of the year, given the nature of the work.

Within a project team, Consultants, Project Managers, Analysts, and Interns coordinate their efforts to deliver client reports and deliverables. Consultants are responsible for building relationships with clients, directing projects, and presenting results. Project Managers work directly with Analysts by reviewing work, answering questions, and developing client correspondence. Analysts are responsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutions. Interns work alongside all levels of a project team while learning and expanding upon various actuarial concepts and computer programs, such as Microsoft Excel, VBA, and SAS.

Interns are given very similar responsibilities and workload expectations compared to full-time Analysts. Interns should expect full-time work hours (40 per week) from January through mid-June, with overtime very common in April and May. For student candidates, this internship could count for college credit, depending on the school you are attending and their parameters for completion. The demands of the position require most student interns to take a semester off from their college studies (or at a greatly reduced workload, if local). We are confident the experience gained will provide interns with a solid foundation to start their careers as actuaries and give them many real-world examples to decide if this is the right career path for them.

Although exam study time, materials, and exam fees are not paid for/reimbursed, we feel progression with actuarial exams is important, so the day of an exam sitting will be paid time off.

REQUIRED KNOWLEDGE, SKILLS, AND EXPERIENCE

Candidates should have a general understanding of Microsoft Excel and basic actuarial concepts. Experience working with SAS or VBA is advantageous. Prior internship(s) or actuarial-related work experience is beneficial, but not required.

EDUCATION REQUIREMENTS

  • GPA of 3.2 or above is strongly preferred 
  • One actuarial exam passed

Candidates must either be:

  • Graduates considering a career in actuarial science or a career change to actuarial science, or
  • Junior or senior standing bachelor’s or master’s degree students pursuing actuarial science, mathematics, or another major with quantitative course work

COMPETENCIES THAT SUPPORT SUCCESS IN ROLE

Candidates are expected to have strong communication skills, be flexible, and show ambition and excitement for their professional development within the actuarial field. Strong time management skills, attention to detail, and organizational expertise are strongly preferred. 

Pay Rate: The pay rate for this position is $24.00 per hour.

Application: Candidates who upload a resume and cover letter will be given first consideration.

Sponsorship: Applicants currently in F, J, M or other nonimmigrant status who will require immigration-related sponsorship upon the conclusion of their schooling will not be considered for this position.  Applicants must be presently authorized to work in the United States on a full-time basis.  The Chicago-Milwaukee Health Practice does not sponsor individuals for the purpose of obtaining or maintaining H-1B, O-1, TN, or other nonimmigrant work authorizing status for this position.