Milliman is an independent consulting firm offering market-leading services in employee benefits, investment consulting, and risk management. The Benefits Consulting Analyst will support retirement and health & welfare employee benefits programs through data analysis, preparing deliverables, and ensuring compliance with regulations while collaborating with internal teams.
Responsibilities
- Perform data analysis related to pension, OPEB, health and welfare employee benefits programs, including monthly experience reports, short-term projections, IBNR estimates, and retirement plan valuation related work
- Assist in the design, development, and refinement of benefits programs to align with organizational goals and industry trends
- Prepare deliverables such as valuation reports, premium equivalent rates, COBRA rates, and plan design analyses
- Draft communications, including emails for vendor management and client follow-ups
- Support financial analyses for RFPs and market checks; conduct ad-hoc analyses as needed
- Participate in client calls and document meeting notes and action items
- Collaborate with internal teams and other Milliman groups
- Study benefits trends, benchmark against industry standards, and provide insights to enhance benefits strategy
- Ensure work is delivered efficiently and within communicated deadlines, following applicable processes and documenting appropriately
- Initiate peer review processes for work products and comply with document and email retention policies
- Monitor and communicate changes in applicable regulations to consultants to ensure compliance
- Work within assigned budget or proactively communicate when additional time is required
Skills
- Strong Excel skills
- Foundation in data analysis
- Interest in benefits consulting
- Ability to prepare deliverables
- Assist with financial analyses
- Ensure compliance with regulations
- Collaborate with internal teams
- Proactive and organized
- Eager to grow in the benefits field
- Motivated self-starter with a strong analytical mindset and attention to detail
- Demonstrated proficiency in Microsoft Excel and comfort working with large datasets
- Excellent communication skills, both written and verbal, with the ability to draft professional emails and documentation
- Ability to work collaboratively within a team and across departments
- Commitment to learning and staying current with industry trends and regulations
- Strong organizational skills and ability to manage multiple tasks to meet deadlines
- Willingness to take initiative, seek feedback, and continuously improve processes and deliverables
- Integrity and respect for confidentiality and compliance with company policies
- Bachelor's degree in actuarial science, mathematics, statistics, business, or a related field is preferred
- A minimum of one SOA exam passed
- Strong analytical and quantitative skills; experience with data analysis in employee benefits or health care preferred
- Familiarity with other data analysis tools is a plus
- Basic understanding of retirement and health & welfare benefits programs and current industry trends is desirable
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 employees working less than full-time accrue PTO on a prorated basis.
- 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 employees who meet eligibility criteria.
- Life Insurance & AD&D – 100% of premiums covered by Milliman.
- Short-Term and Long-Term Disability – Fully paid by Milliman.
Company Overview
Milliman is a risk management, benefits, and technology firm that offers insurance and retirement services. It was founded in 1947, and is headquartered in Seattle, Washington, USA, with a workforce of 1001-5000 employees. Its website is http://www.milliman.com.Company H1B Sponsorship
Milliman has a track record of offering H1B sponsorships, with 36 in 2025, 18 in 2024, 21 in 2023, 29 in 2022, 23 in 2021, 27 in 2020. Please note that this does not guarantee sponsorship for this specific role.
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