Description
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 full-time entry-level professional 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/administrative 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 client reporting
Develop knowledge of derivative markets and risk management techniques, and provide support for research, consulting, and advisory work
With the development of operational knowledge and demonstrated mastery of the role, your career will progress in one of two directions, based on your strengths, interests, knowledge, and skills.
If you’re more suited to a client facing role, then a portfolio manager progression will allow you to:
Lead client services on assigned accounts through relationship and project management
Manage client workflow to ensure compliance with applicable investment policy and Milliman FRM’s internal quality risk management requirements
Support portfolio management operations partner in handling operational process exceptions
Support client education regarding fund performance in the context of evolving risk in the global markets
Write responses to client questionnaires, develop presentation materials
Facilitate client discussions (conference calls and in-person presentations)
Or you can move into a more technical, quantitatively oriented role where you will:
Develop strong understanding of financial markets, derivatives, and hedging concepts
Engage in quantitative research in areas involving Probability, Stochastic Processes, Financial Derivatives and Pricing, Option Greeks, Option Pricing (Black Scholes) and Replication Techniques, Portfolio Management, etc.
Develop and run complex financial projection software and summarize the results.
Develop knowledge of object-oriented programming
Collaborate with PMG Research and Trading Technology groups and support their development efforts
Your Qualifications:
Required:
Bachelor degree
Strong written and verbal communication skills
Proven record of reliability and dedication to high quality work
Ability to work with Microsoft Office package, in particular Excel/VBA, PowerPoint
Interest in or currently pursuing professional examinations (SOA Exams P, MFE/IFM etc., CFA Exams, FRM Exams)
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-pace environment where the client is always our first priority
Ability to work both collaboratively and independently
Experience with financial markets, mutual funds, portfolio management and derivatives
Experience coding complex projects in VBA
Experience working with databases (SQL, Access)
Milliman Benefits:
At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual. We offer a competitive benefits package which includes:
Medical, dental and vision coverage for employees and their families, including eligible domestic partners.
A 401(k) plan with matching program
Profit sharing as a discretionary contribution to employees’ retirement accounts
Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason.
Voluntary benefits such as additional life or accidental death and dismemberment coverage for yourself or dependents
Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs
Qualifications
Education
Required
Bachelors or better.
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.
BenU Undergrad Business 