DB Actuarial Consultant

Milliman Chicago , IL 60602

Posted 2 months ago


The DB Actuarial Consultant supports all teams servicing qualified and non-qualified defined benefit pension plans including senior-level (SA and QR) review of all technical work in compliance with the plan's provisions and administrative policies. This includes, but is not limited to, calculations involving actuarial mathematics, ERISA compliance, QDRO allocation, Required Minimum Distributions, special projects.

The DB Actuarial Consultant will interact within their team and with other Milliman teams (typically across office locations) with a limited amount of interaction with the client. A small amount of travel is anticipated.


  • At least five years of relevant benefits experience.

  • Bachelor's degree preferred (a degree in Mathematics, Statistics or other analytical field will be considered a plus).

  • Minimum preferred credentials: Enrolled Actuary (EA) or ASA.

  • Strong technical skills, including proficiency in Actuarial Mathematics and ERISA.

  • Read and comprehend plan provisions from defined benefit Plan Documents, SPDs (Summaries of Plan Provisions) and other related plan materials.

  • Complete knowledge and ability to oversee analysts in the preparation of benefit calculations, government forms, valuation data preparation, etc.

  • Ability to create programming administration specifications documents from Plan Documents and other sources (Union agreements, SPDs etc.).

  • Ability to manage personal workflow as well as oversee the work of others.

  • Ability to work independently; must be motivated with strong oral and written communication skills.

  • Self-motivated, high achiever.

  • Strong presentation skills with ability to instruct analysts in how to perform complex calculations.

  • Strong team player.

  • Provide support to Client Relationship Manager.

  • Coordinate with implementation team to achieve successful plan conversions. This includes assistance with system testing for new plan setups and plan modifications due to regulatory updates as well as setting up user acceptance test case calculations

  • Provide support for special projects and other tasks as needed

  • Ensure final work products are of high quality and provided in a timely fashion

  • Training and mentoring of new and existing employees

  • Strong verbal and written communication skills, with an emphasis on customer service

  • Ability to work in a team environment and individually

  • Basic project management skills

  • Excellent analytical and mathematical capabilities, with great attention to detail

  • Demonstrate solid organizational skills, balancing and prioritizing multiple projects

  • Ability to solve problems efficiently while being innovative and creative

  • Proficient in the use of Microsoft Windows and Microsoft Office suite (Word and Excel)

  • Experience with Microsoft Access is a must


Must demonstrate Milliman's core values, which include:

  • Integrity
  • Must be honest, fair, active listener, open communicator and accountable.
  • Teamwork
  • Work cooperatively and treat clients and coworkers with respect and dignity while valuing individual differences, encouraging new ideas and sharing information.
  • Commitment to excellence
  • Demonstrate commitment to being creative, innovative, flexible and adaptable, focusing on quality solutions, continually improving and being a winner.
  • High energy with effective poise, presence, self-motivated, and relentlessly striving towards goals.

  • Ability to work with a sense of urgency with strong customer service approach


A competitive base salary, plus a performance-based incentives bonus tied to the overall business performance. The firm offers an outstanding and comprehensive benefits package:

  • Medical, dental and vision coverage for employees and their families, including eligible domestic partners.

  • A 401(k) plan with matching program

  • Paid Parental Leave up to 12 weeks

  • 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.

  • Adoption assistance

  • Milliman covers 100% of the premiums for life insurance, AD&D, and both short term and long term disability coverage

  • Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs


Milliman employs more than 3,500 people working in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. For more than 70 years, the firm has quietly earned a reputation for exceptional services, innovation and quality. Today Milliman is one of the nation's most highly regarded providers of retirement plan services to the full spectrum of business, financial, government and union organizations.


Our company, with the full support of our Chief Executive Officer, is fully committed to the maximum utilization of all human resources and the goals of Equal Employment Opportunity and Affirmative Action. We recruit, hire, train, and promote, and consider qualified applicants for employment, in all job titles without regard to age, ancestry, citizenship status, color, creed, familial status, genetic information, marital status, national origin, political ideology, race, religion, sex, sexual orientation, gender identity, status as an individual with a disability, or veteran status, including qualified disabled veterans, Armed Forces service medal veterans, recently separated veterans, and active duty wartime or campaign badge veterans; and shall not discriminate against any individual, or any other characteristic protected by law. Should you have a disability that requires assistance and/or reasonable accommodation with the job application process, please contact the HR department.

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