I’ve spent my whole career at Milliman—11 years this August. The work itself has been very exciting, challenging, and rewarding. Financial Risk Management is at the forefront of bringing transformational change to the retirement industry and I can’t imagine working on a more rewarding goal.
During the recent financial crisis, a lot of people failed to understand the risks they were facing. At Milliman, we realized that using equity allocation as a proxy for risk wasn’t working. We needed something else – we needed to take volatility into account.
We’re taking the same tried and tested FRM strategies used in large financial institutions and insurance companies and making them available to retirees and investors within the funds directly. That’s the Fund Service Initiative.
We’re using liquid, transparent, and cheap instruments, futures, to reduce risk and stabilize the performance for both insurance companies and for the individual investor.
We have a wonderful group of people here in FRM, many of whom have become my very close friends over the years. On a personal level, it’s nice to go to work every day and be surrounded by your friends.
What drives all of us here is truly believing in bringing transformational change to the retirement industry, knowing that we are helping retirees or people near retirement achieve their financial goals and achieve financial stability as they’re entering their retirement.
Milliman retains people like no other company. I was the sixth hire in the FRM department; most of the people who interviewed me are all still here.
I think it’s important for a consultant to be both technically brilliant and be able to manage client relationships, and at Milliman, I’ve come to take technical skills almost for granted, because I think it’s a known fact that we are one of the best in the industry.
I’ve managed some of my clients in the insurance industry for over eight years now and I truly enjoy it. It’s one of the most rewarding parts of the job for me because I really care about them. When they call me up and they have a problem, I don’t only want to help them as a professional—I also want to help them as a friend.
Communication skills are one of the key things I look for when I interview people. I look for very strong written skills. Every single memo should be written with the assumption that it’s going to go to the highest person in the company.
In academia it may be okay to get a B because that’s still passing. I don’t think that works at Milliman. Here, passing means an A+.