Address
Form of workPlease Note: You should apply for this opportunity if you are a STUDENT who is looking for an Internship/Co-Op. This will be a full-time or part-time internship for the Winter 2024 term. If you are a more EXPERIENCED applicant, please look for our many experienced hire opportunities and apply there to be considered.
Who We Are
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/Team
Milliman Financial Risk Management LLC is a market leader in the field of Portfolio Management and risk management, with a focus on trading securities and derivatives to manage capital market risks for banks, asset managers, insurance companies, and pension plans. The Portfolio Management Group, located in Chicago, operates as an integrated team to provide these services to clients across the globe, and currently implements risk management investment strategies on over $50 billion in assets. FRM is committed to continual research and development to maintain and enhance its position as an industry leader in financial risk and Portfolio Management.
The Portfolio Management Group is looking for a part-time intern to join our team. Our new colleague will have an opportunity to contribute to our client services in a variety of ways, including fund management operations, client reporting, plenty of coding projects, documentation work, and client presentation materials.
Your Role/What You’ll Do
You will:
- Participate in an immersive learning experience to familiarize yourself with our operational process and systems for implementation of risk management strategies.
- Learn through hands-on utilization of Milliman’s risk systems by running daily fund management operations.
- Implement Milliman’s risk management strategies for our clients.
- Compile and verify client reports, including performance attribution reports, risk reports, and portfolio allocation reports.
- Communicate with fund operations counterparties (custodian banks, fund accountants, trading partners) to reconcile any differences in account statements and ensure accuracy in our representation of fund assets.
- Develop and build tools and models to assist in strategy development and validation and client reporting.
Develop knowledge of derivative markets and risk management techniques, and provide support for research, consulting, and advisory work.
Your Qualifications
Required:
- Strong written and verbal communication skills.
- Proven record of reliability and dedication to high quality work.
- Ability to work with Microsoft Office packages, in particular Excel/VBA, Powerpoint.
- Strong record of professional examinations and continued pursuit (SOA Exams, CFA Exams, FRM Exams).
- Strong understanding of financial markets, mutual funds, Portfolio Management, option pricing or option replication, derivative pricing, and hedging concepts.
- Coding knowledge and ability to think algorithmically/systematically.
- Pursuit of bachelor’s degree with a focus in Actuarial Science, Mathematics, Quantitative Finance, or related fields.
- Coursework including Probability, Stochastic Processes, Financial Derivatives, Option Pricing, Hedging, Corporate Finance, Portfolio Management, Econometrics, etc.
Desired:
- Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas.
- Demonstrated aptitude for quantitative and critical thought.
- Ability to work in a fast-paced environment where the client is always our first priority.
- Ability to work both collaboratively and independently.
- Object oriented programming experience and working with databases (SQL, Access).
This role is based out of the Milliman office in Chicago, IL, but candidates hired into this role may work remotely anywhere in the US.
Compensation
The hourly range is $18 to $40, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc.
Benefits
- 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.
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.
