Quantitative Developer

Description

The Department

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.

The Role

Quantitative developers in FRM develop capital markets models (with applications including market-consistent valuation of assets and liabilities, quantitative risk analytics, and simulation analysis of risk management strategies), and implement as modules appropriate programming languages (e.g. 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.

Specific responsibilities include :

• 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

Job Knowledge, Experience Skills

Job Knowledge Required :

Experience and Soft Skills Required :

Additional Knowledge and Skills to Build :

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.

Milliman Benefits

We offer a comprehensive benefits package designed to support employees' health, financial security, and well-being. Benefits include :

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.

Qualifications

Education Masters of Engineering (required)

Masters of Mathematics (required)

Masters of Computer Science (required)

Masters of Physics (required)

Experience 1 years : Years of industry and functional experience (required)

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

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For further information, please review the Know Your Rights notice from the Department of Labor.