Trade Operations Analyst

Who We Are

The Chicago office of Milliman Inc. is looking for bright, enthusiastic and qualified candidates to work in their Financial Risk Management (FRM) practice. 

Milliman’s rigorous, distinctly innovative approach to risk management is built on a foundation of actuarial expertise and shaped by some of the most advanced thinking in the industry. Whether you're looking to improve capital efficiency, comply with regulatory requirements, or guard against market volatility, Milliman offers a complete range of operational, strategic, and financial risk management solutions and tools.

We have a focused, multi-disciplinary team of actuaries, financial engineers/capital markets professionals and software developers working together to develop risk management solutions for the financial services industry. We currently advise some of the world's largest insurance companies in areas such as hedging strategy and operations, portfolio risk management, and capital requirements.

We hire the best in the business—and then trust them to do their work their way. It's about personal responsibility, creativity, flexibility. We believe great work happens in great work environments.

Our culture is highly collaborative with value placed on high quality work and innovation.

The Department/Team

Milliman Financial Risk Management LLC (Milliman FRM)—an SEC registered investment advisor—is a global market leader in risk management and hedging support services. The Milliman FRM team is passionate about transforming the way the world manages portfolio risk and plans for retirement. Established in 1998, the Milliman FRM practice includes more than 100 professionals from around the world, operating from three trading platforms (Chicago, London, and Sydney). This global platform allows the firm to monitor and maintain hedge portfolios around the clock greater than US$600 billion in underlying account value.

Your Role/What You’ll Do

You will:

• Identify, perform analysis, and resolve trade and settlement breaks.
• Monitor the intraday and next day trade and cash reconciliation of client accounts.
• Oversee high level account balances and margin requirements; execute transfers to meet margin requirements.
• Work directly with counterparties, custodians, banks and other interested parties to ensure all actions on behalf of the client are resolved and reconciled in a timely manner.
• Produce and distribute reporting to clients and third party service providers
• Collaborate with other areas of support including Governance & Risk Management, Portfolio Management, Capital Markets and Trading, Actuarial, Trading Technology and Legal/Compliance
• Participate in the onboarding process for new accounts.
• Create procedures and document process flows.
• Additional responsibilities as group continues to expand in business and complexity.

Your Qualifications

Required:

• 1-3 years of experience in treasury, trade, or investment operations
• Basic to Intermediate knowledge of one or more of the following products: Futures, Listed Options, Cleared OTC Derivatives, Fixed Income (Bonds and ETFs), Mutual Funds, UIT(s), Equities, and Bilateral Non-Cleared OTC Derivatives.
• Basic to Intermediate knowledge of cash and collateral management in one or more of the following areas: FCM Margin (Futures, Cleared OTC), PB / Portfolio Margining, Reg T, OTC Collateral including US/EU/APAC Reg IM, FX, and Short Term Investments (Money Market Funds, Sec Lending, Repo, Treasuries etc.…)
• Experience with managing different aspects of the post trade life cycle from beginning to termination including allocation, confirmation, reconciliation, clearing settlement, valuations/exposure management, and corporate actions for Derivatives, Fixed Income, or Equity products in domestic and international markets.
• Bachelor’s degree in finance, economics, or other relevant fields

Desired:

• Knowledge on trade and settlement related international rules, regulations and practices
• Exposure to fund accounting, global custody, or transfer agency operations
• Familiarity vendor systems such as DTCC ITP (CTM, Alert, TradeSuite, MTU, Exception Manager), AcadiaSoft, triResolve, Markit, SWIFT, Trianna, and Bloomberg.
• VBA knowledge strongly desired
• Experience with SQL, Python, and other programming languages a plus
• Strong written and verbal communication skills
• Ability to work both independently and collaboratively
• Solid organizational skills - especially the ability to meet project deadlines with a focus on details.
• Strong ability to work in a fast-paced, deadline-driven environment and handle multiple projects simultaneously.
• Ability to deal with ambiguity and effectively cope with change.
• Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas.

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.

Milliman Benefits

At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual. We offer a competitive benefits package which includes:

• Medical, dental and vision coverage for employees and their families, including eligible domestic partners.
• A 401(k) plan with matching program
• Paid Parental Leave up to 12 weeks
• Adoption Assistance
• Profit sharing as a discretionary contribution to employees’ retirement accounts
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason.
• Milliman pays 100% of the premiums for life insurance, AD&D, an both short term and long term disability coverage
• Voluntary benefits such as additional life or accidental death and dismemberment coverage for yourself or dependents
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation and applicable medical needs
• HMO and PPO Medical Insurance options, Dental, Vision, Commuter benefit, Dependent Care Flexible Spending Account and a Health Care Flexible Spending Account

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.