Actuarial Manager (FSA) - Medicare / Provider VBP (CMH Health)

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.Milliman's CMH Health Practice is seeking a credentialed Actuarial Manager with strong Medicare experience who will serve in a client-facing role, manage junior staff, and help us capitalize on major growth opportunities in provider value-based payment (VBP) consulting. This role sits within our rapidly growing Provider VBP Enablement vertical, advising health systems, physician groups, and Accountable Care Organizations (ACOs) on Medicare shared savings, risk adjustment, total cost of care benchmarking, and related financial strategy. Actuarial Managers work in a wide variety of areas within the healthcare industry while working alongside some of the leading experts in the field.Who We AreMilliman is one of the leading experts in healthcare financing and delivery. We advise clients on a wide range of issues—from assessing the impact of healthcare reform on organizations or populations to streamlining operations while advancing the quality of patient care. Our consulting work is supported by a powerful toolkit of data analytics solutions and informed by the most trusted, comprehensive set of cost guidelines in the industry.Job ResponsibilitiesServe as credible client-facing actuary on complex Medicare advisory work, including provider VBP, ACO strategy, and Medicare Advantage engagementsAdvise health systems, physician groups, and ACOs on Medicare Shared Savings Program (MSSP) performance, total cost of care (TCOC) benchmarking, and risk adjustmentSupport emerging ACO program opportunities, including the CMS LEAD (Leveraging Efficiency And Driving-quality) model and other CMMI innovation programsManage and direct professional and senior professional staff on client engagementsLead workstreams independently, freeing senior team members to focus on business development and strategic oversightProvide quality review and mentoring to junior staffPerform data analysis using Excel, SAS, Python, SQL, and proprietary Milliman programs to assist with consulting for various health insurance work areas (Medicare, Commercial / ACA, Medicaid, Long Term Care, Pharmacy, Provider, and more)Support financial modeling for ACO performance evaluation, risk adjustment strategy, and shared savings projectionsResponsible for reviewing the work of others and assisting with research and product developmentResponsible for training and coaching professional staffResponsible for several projects simultaneously, providing insight into the technical direction of each project, verifying the initial reasonableness of the solution, and creating client communications for review by ConsultantsMinimum RequirementsBachelor's or Master's degree in a quantitative field (Bachelor's degree is required)4–7 years of full-time actuarial experience, primarily working with Medicare programs (Medicare experience is required – either Medicare Advantage (MA) or Accountable Care Organization (ACO) work)FSA designation with the Society of Actuaries (SOA)Strong analytical and communication skills with the ability to interact directly with clientsDemonstrated ability to manage and mentor junior staffThorough understanding of Microsoft Excel and actuarial conceptsCompetencies and Behaviors that Support Success in this RoleOpenness and enthusiasm for using AI and large language model (LLM) tools to enhance productivity and consulting workflowsIntellectual curiosity and a motivation to learn new domains, methods, and technologiesExperience working with Python, SQL, SAS, VBA, or other coding/data analytics languagesExperience mentoring staff and managing projectsStrong communication skills (both verbal and written)Ability to help identify client issues and resources needed to solve problemsAnalytical thinking skills to evaluate analyses for communication to clientsAbility to help plan and organize work for projectsIdentify project deliverables, meet deadlines, and ensure compliance with quality proceduresStrong time management skillsAbility to work independently and within a teamClient focused and results orientedOrganizational expertise and flexibilityAmbition and excitement for professional development within the actuarial fieldThe TeamWithin a project team, consultants, managers, and analysts coordinate their efforts to deliver client reports and deliverables. Consultants are responsible for building relationships with clients, directing projects, and presenting results. Project managers work directly with analysts by reviewing work, answering questions, and developing client correspondence. Analysts are responsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutions.LocationIt is preferred that candidates work on-site at our Chicago, IL, Milwaukee, WI, or Hartford, CT office. Remote candidates will be considered. The expected application deadline for this job is August 19, 2026.CompensationThe overall salary range for this role is $103,500 – $214,820.For candidates residing in Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Newark, San Jose, San Francisco, Pennsylvania, Virginia, Washington, or the District of Columbia, the salary range is $119,025 – $214,820.All other states salary range is $103,500 – $186,800.A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.BenefitsWe offer a comprehensive benefits package designed to support employees' health, financial security, and well-being. Benefits include: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 observed 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.Equal Opportunity All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.