Quantitative Developer

17-Chicago FRM

71 S. Wacker Drive

31st Floor

Chicago, IL 60606, USA

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 and implement them as modules in appropriate 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

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

Job Knowledge, Experience, and 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.

Benefits

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.

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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