Milliman
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Quantitative Developer
role at
Milliman
Overview The Quantitative Development group, within Milliman’s Financial Risk Management Practice (“FRM”), 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.
Role Quantitative developers in FRM develop capital markets models and implement modules in appropriate programming languages (C++ /C# /Python /Excel VBA). These modules support trading functions within active hedge programs, and serve as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.
Responsibilities
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
Qualifications
Masters degree in mathematics, physics, engineering, computer science, or quantitative finance
Progress toward CFA/FRM or similar designations
Experience in quantitative finance and financial modeling
C++/C#/Java experience and demonstrated knowledge in quantitative finance
Good communication skills, ability to work independently and collaboratively, and strong decision-making ability
Additional Knowledge and Skills to Build
Advanced quantitative academic degree, preferably in math, physics, or quantitative finance
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 strong object-oriented design skills
Leadership, creative problem solving, and strong communication skills
Compensation The salary range for this role is $90,620 - $145,130, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.
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. The expected application deadline for this job is February 1, 2026.
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) – Full-time employees accrue 15 days per year, prorated for less than full-time.
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 eligible employees.
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.
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Quantitative Developer
role at
Milliman
Overview The Quantitative Development group, within Milliman’s Financial Risk Management Practice (“FRM”), 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.
Role Quantitative developers in FRM develop capital markets models and implement modules in appropriate programming languages (C++ /C# /Python /Excel VBA). These modules support trading functions within active hedge programs, and serve as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.
Responsibilities
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
Qualifications
Masters degree in mathematics, physics, engineering, computer science, or quantitative finance
Progress toward CFA/FRM or similar designations
Experience in quantitative finance and financial modeling
C++/C#/Java experience and demonstrated knowledge in quantitative finance
Good communication skills, ability to work independently and collaboratively, and strong decision-making ability
Additional Knowledge and Skills to Build
Advanced quantitative academic degree, preferably in math, physics, or quantitative finance
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 strong object-oriented design skills
Leadership, creative problem solving, and strong communication skills
Compensation The salary range for this role is $90,620 - $145,130, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.
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. The expected application deadline for this job is February 1, 2026.
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) – Full-time employees accrue 15 days per year, prorated for less than full-time.
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 eligible employees.
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.
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