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Marsh People and Investments-Retirement Actuarial Externship - College Program 2027

Marsh McLennan · Chicago, IL · Part time

Posted Sep 16, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Why are you interested in retirement actuarial work rather than life, health or property and casualty?

What they are checking: Whether they have thought about the actuarial tracks and have a real reason for pensions and retirement.

Which actuarial exams have you taken or plan to take, and how do you fit studying around school?

What they are checking: Commitment to the exam path and the discipline to balance it with other demands.

Tell me about a time you worked on a team where someone was not pulling their weight. What did you do?

What they are checking: Interpersonal maturity in group work, which the program uses through team activities.

What would you do

The externship is only 12 days. How would you make the most of the shadowing and networking time?

What they are checking: Initiative and curiosity in a short program that may lead to a full-time analyst offer.

You notice a number in a sample project that looks off, but the analyst you are shadowing seems busy. What do you do?

What they are checking: Willingness to speak up about a possible error respectfully, even as the newest person in the room.

How would you explain to a plan participant, in plain words, why their pension estimate changed from last year?

What they are checking: Ability to communicate technical results simply, which the posting lists as a core value.

About the work

In simple terms, what is the present value of a pension benefit, and what assumptions change it the most?

What they are checking: Basic understanding that discount rates and mortality drive pension liabilities.

What is the difference between a defined benefit plan and a 401(k) plan, from the employer's point of view?

What they are checking: Whether they see who carries investment and longevity risk under each type of plan.

Tell me about something you built in Excel that you are proud of. How did you check that it worked?

What they are checking: Real Excel skill and self-checking, since the externship names Excel and data analysis directly.

If interest rates drop, what happens to a pension plan's liability, and why?

What they are checking: Intuition for discounting, a core idea that analysts use every day on pension valuations.

Practice this interview out loud.

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Practice this out loud

The full job description

As published by Marsh McLennan.

Company: Marsh Description: Marsh People and Investments-Retirement Actuarial Externship - College Program 2027 We are seeking talented college students to join our US Retirement Actuarial Externship Program in 2027. US Retirement is part of our People and Investments business at Marsh. THE POSITION: Retirement Actuarial Externship 2027 Marsh’s Investments and Retirement business is a leading global provider of investment and retirement services. We offer customized guidance at every stage of the investment and retirement decision. With more than 40 years of experience, Marsh’s Investments and Retirement business has provided advice and solutions to corporate pension funds and 401(k) plans, foundations, endowments, wealth managers and other institutional investors. As a Retirement Actuarial Extern, you will be exposed to a fast-paced, energetic, action-oriented environment. Over the course of 12 days (84 hours), we will provide you with sample project work, analyst shadowing, group networking, mentorship and team building activities. This program offers the potential to lead to a 2028 full-time Actuarial Analyst position. WHAT WE VALUE • Strong analytical skills, both quantitative and qualitative • Proficiency in Microsoft Office—Word and Excel • Knowledge of data analysis • Excellent interpersonal, verbal, and written communication skills • Intellectual curiosity; seeking opportunities to develop new skills • Ability to work in teams; flexibility to work under tight deadlines and changing client needs • Keen attention to detail • Strong time management, project management and organizational skills WHAT YOU NEED TO HAVE • Progress toward a bachelor’s degree in actuarial science, finance, economics, mathematics, or other business-related areas • Expected graduation in winter 2027 or spring 2028 • Seeking students on the actuarial track, interested in pursuing an actuarial career • Commitment to achieving a Society of Actuaries designation • Permanent U.S. work authorization without sponsorship now or in the future. Visa sponsorship is not available for this role. CPT and OPT are not eligible WHAT’S IN IT FOR YOU • Gain a deeper understanding of the Marsh Investments and Retirement business • Use simulated projects to realize impactful solutions that could benefit major organizations and have a direct impact on their employees • Be introduced to company solutions, strategy and technology • Connect with experienced professionals across the business • Receive mentorship and consideration of potential future full-time opportunities • Participate in learning and team-building events • Payment for this opportunity is $20/hour • This externship will be fully virtual. Selected candidates must be available from July 29 – August 13, 2027 for up to 8 hours per day. WHAT’S NEXT? Candidates must apply by submitting an application on our website. Selected candidates will be invited to complete a first round digital interview via the Phenom video interview platform. Video interview submissions are due no later than October 23, 2026. You will be contacted if you are selected to participate in final round interviews on target to take place in November. Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow us on LinkedIn and X. Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@marsh.com.

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