Actuarial Intern

Exciting Summer 2027 Internship OpportunitiesJoin our CMH Health Practice! Milliman's CMH Health Practice is looking for motivated college students pursuing a bachelor's or master's degree to participate in a summer actuarial internship. We offer competitive pay with the opportunity to work on real world assignments in our vibrant, dynamic, and growing health consulting practice. This summer internship requires candidates to work four days per week (Monday through Thursday) at one of our three CMH Health office locations (Chicago, Illinois, Milwaukee, Wisconsin, or Hartford, Connecticut). Friday is an optional work day from home.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, healthcare financing, risk management, regulatory compliance, data analytics, and business transformation.Our Actuarial Internship Provides You:Challenging assignments with practical on the job experienceWork alongside some of the leading experts within the healthcare industryAn opportunity to present on your summer experienceExposure to a variety of actuarial functions, including experience studies, valuation, pricing, model development, and forecastingAn opportunity to work alongside Milliman actuarial consultants, including those in senior managementDevelopment of your technical skills with platforms such as Excel, VBA, Python, and SASAttendance at professional staff meetings and department meetingsDay of exam sitting is paid time offMentorship from experienced actuariesHousing stipend may be providedCompetitive payProspect of securing a full-time position with MillimanJob Responsibilities:Perform data analysis using Excel, VBA, SAS, Python, and proprietary Milliman programs to assist with consulting for various healthcare segments (Medicare Advantage and Part D, Commercial / ACA, Medicaid, Long Term Care, Pharmacy, Provider, and more)Participate in consulting activities including pricing, reserving, financial projections, model development, forecasting, and mergers and acquisitionsResponsible for reviewing the work of peers and assisting with research and product developmentCoordinate with Consultants, Managers, Professional Staff, and Interns as a project team to present client reports and deliverablesResponsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutionsMinimum requirements:Pursuing a bachelor's or master's degree in actuarial science, mathematics, economics, finance, accounting, or another major with quantitative course workAt least one actuarial exam passedMust be able to work onsite at least four days (Monday through Thursday) per week throughout the duration of this summer internship at one of our three CMH Health office locations (Chicago, Illinois, Milwaukee, Wisconsin, or Hartford, Connecticut).Junior standing is preferred, will accept sophomore standing at time of applicationCompetencies and Behaviors that Support Success in this Role:Ambition and excitement for professional development within the actuarial fieldGood academic standing (3.2 grade point average or above is preferred)Previous internship or relevant work experienceLeadership experience and involvement in extra-curricular activitiesExperience working with SAS, VBA, or other coding languages is advantageousStrong communication skills (both verbal and written)A detail-oriented self-starter with an entrepreneurial spirit inspired to contribute to the success of any projectAnalytical thinking skills to evaluate analyses for downstream impactCan complete project deliverables, meet deadlines, and ensure compliance with quality proceduresStrong time management skillsAbility to work independently and in a team environmentDemonstrates integrity in all functions of workCandidates should have academic exposure to Microsoft Excel and basic actuarial concepts.Individuals 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.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: Candidates must be able to work onsite at least four days per week (Monday through Thursday) at any one of our three CMH Health office locations (Chicago, IL, Milwaukee, WI, or Hartford, CT). The expected application deadline for this job is January 17, 2027.Compensation: The overall range for this role is $21 - $46. For candidates residing in:Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Pennsylvania, Virginia, Washington, or the District of Columbia the range is $23 - $46.All other locations the range is $21 - $37.A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc. This is a non-exempt overtime eligible role.Benefits:Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges.401(k) Plan – When an employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan that includes a company matching program and profit-sharing contributions.Paid Time Off (PTO) – Begins accruing on the first day of work; Interns, Temporary, and Seasonal Employees will earn PTO each pay period, based on 1 hour for every 30 hours worked.Transportation – Pre-tax savings for eligible transit and parking expenses.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.#LI-CS1Equal 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.