Senior Actuarial Manager (FSA) - Health Research Team

Who We Are Milliman’s Health Research Team (HRT) supports Milliman products and practices in a variety of capacities, including financial functions, client support, project management, data engineering, and data analytics services. We pride ourselves on delivering high-quality, timely support to clients, consultants, and leadership teams. Job Responsibilities People Management & Leadership Directly manage a team of actuaries and analysts, including responsibility for hiring, onboarding, performance management, and career development. Set clear goals and expectations for direct reports, providing regular feedback, coaching, and performance evaluations. Foster a high-performing, inclusive team culture built on collaboration, accountability, and continuous learning. Support direct reports in their actuarial exam progress and professional development planning. Manage team workload and capacity, prioritizing assignments and ensuring timely delivery of commitments. Serve as a people advocate, escalating team needs and removing barriers to success. Contribute to broader organizational talent initiatives, including recruiting, succession planning, and skills development. Healthcare Actuarial Product Development – Support Role Serve as an actuarial subject‑matter resource to the teams responsible for the development and methodology of health‑discipline products. Provide analytical input, actuarial review, and technical guidance to support healthcare actuarial product framework updates and enhancements. Assist in validating product logic and methodologies, offering feedback grounded in actuarial expertise and healthcare cost experience. Collaborate with the teams working on the products to ensure alignment with industry standards, emerging coding practices, and cost trend developments. Review and provide feedback on methodology documentation, assumptions, and model change summaries as needed. Data Quality Analytics – Support Role Act as an actuarial resource and advisor to the data quality analytics function, supporting efforts to assess and improve the integrity of actuarial and claims datasets. Assist in reviewing data validation frameworks, quality scorecards, and anomaly findings from an actuarial perspective. Partner with data quality leads to identify the downstream actuarial impact of data integrity issues and help prioritize remediation efforts. Provide guidance on data standards and best practices relevant to actuarial applications and healthcare cost analysis. Research Support Provide actuarial research support on healthcare cost trends, utilization patterns, population health, and related topics. Design and conduct quantitative analyses to support internal research initiatives, white papers, and publications. Synthesize complex findings into clear, actionable insights for both technical and non‑technical audiences. Stay current with industry research, regulatory developments, and actuarial literature relevant to health cost analysis. Ad Hoc Analytics Respond to ad hoc analytical requests from leadership, clients, or cross‑functional teams with timely and accurate actuarial analysis. Build and maintain reusable analytical tools, models, and templates to improve team efficiency. Minimum Requirements Bachelor’s or Master’s degree in a quantitative field (Bachelor’s degree is required). Fellow of the Society of Actuaries (FSA) designation. 7+ years of actuarial experience, preferably in health insurance, managed care, or a related field. 3+ years of direct people‑management experience, including performance reviews, goal setting, and employee development. Deep expertise in healthcare cost analysis, claims data, and actuarial modeling. Proficiency in analytical tools such as SQL, R, Python, SAS, or similar. Strong understanding of medical coding systems (ICD‑10, CPT, DRG) and claims data structures. Demonstrated ability to lead, motivate, and develop teams in a fast‑paced, analytical environment. Ability to work effectively in a cross‑functional support capacity, influencing outcomes without direct ownership. Excellent written and verbal communication skills with the ability to present complex findings clearly to diverse audiences. Competencies and Behaviors that Support Success in this Role In‑depth experience with healthcare actuarial, underwriting, and rating products, healthcare grouper logic, or clinical classification systems. Familiarity with data governance frameworks and data quality management practices. Experience working in a research or consulting environment. Knowledge of the healthcare regulatory and compliance landscape. Experience with data visualization tools such as Tableau, Power BI, or similar. The Team Milliman is one of the leading experts in healthcare financing and delivery, advising clients on a wide range of issues from the impact of healthcare reform to streamlining operations. 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. Location This role is based out of the Milliman office in Chicago, IL, but candidates hired into this role may work remotely anywhere in the U.S. or in the office on a weekly basis with flexible work arrangements. Travel to Milliman’s Chicago office for three consecutive days each quarter is required. Compensation The overall salary range for this role is $103,500 – $242,650, based on overall experience and state of residence. For candidates residing in Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Newark, San Jose, San Francisco, Pennsylvania, Virginia, Washington, or the District of Columbia: $119,025 – $214,820 if overall experience is less than 10 years; and $134,435 – $242,650 for experience greater than 10 years. For all other states: $103,500 – $186,800 if overall experience is less than 10 years; and $116,900 – $211,000 for experience greater than 10 years. Factors including education, experience, qualifications, skills, certifications, etc., will be considered. Benefits 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 part‑time employees accrue prorated PTO. 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 eligible employees. 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. #J-18808-Ljbffr Milliman