Quantitative Developer

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

The Quantitative Development group, within Milliman's Financial Risk Management Practice, focuses on capital markets modeling, market-consistent valuation of assets and liabilities, quantitative risk analytics, and simulation analysis of risk management strategies. Systems developed by this group support trading functions within active hedge programs, and serve as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.

Your Role/What You'll Do

The candidate would potentially be involved in the following types of projects:

• Designing models of exotic derivatives appropriate for pricing exercises, setting hedge positions, and projecting hedge strategy performance
• Implementing derivative models as VBA, C++, and C# modules
• Developing both risk neutral and real world economic scenarios used for hedge strategy testing purposes
• Calibration of capital markets models to market prices and historical capital markets data
• Developing trading strategies and performing historical regression tests

Your Qualifications

The candidate must have:

• Masters degree in math, physics, engineering, computer science or quantitative finance
• Years of industry and functional experience: Entry level role to 4 years experience

• C++/C#/Java experience, demonstrated object oriented programming knowledge
• Demonstrated knowledge in quantitative finance
• The ability to read, write and communicate clearly in English

The ideal candidate will have:

• Prior internship experience, preferably in Financial Mathematics and in a technical role
• Obtained an advanced quantitative academic degree, preferably in math, physics, or quantitative finance
• Made successful progress toward CFA and/or FRM designations. We may consider candidates who haven't started yet, but are interested in obtaining these credentials we will support, financially).
• Experience carrying out quantitative financial analysis, preferably based on portfolio and option valuation theories
• Experience with stochastic modeling exercises including use of Monte Carlo techniques
• Demonstrated proficiency in computer programming languages including C++/C#/Java, and has an appreciation of object oriented software design
• Demonstrated strong communication skills, capacity for leadership, and creative problem solving
• The ability to work independently and in a team environment
• A results-oriented work ethic

Compensation

The salary range for this role is $87,000 - $132,000, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

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 dependents, including domestic partners
• A 401(k) plan with matching program, and profit sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• A minimum of 8 paid holidays
• 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

Location

Candidates hired into this role will be required to work in-person in the Milliman office in Chicago, IL on a weekly basis, but flexible work arrangements will be considered.

Milliman is an Equal Opportunity Employer

Milliman 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, 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. Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

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.