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Saba Rizvi

Associate Actuary
Chicago, IL, US

Tel: +1 312 7260677

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Professional Designations

  • Member, American Academy of Actuaries
  • Associate, Society of Actuaries


  • Bachelor of Mathematics, Actuarial Science, Statistics Minor, University of Waterloo

Current Responsibility

Saba is an actuarial consultant with Milliman's Financial Risk Management practice in Chicago. She works closely with many large U.S. and Canadian insurers to help them with designing, implementing, and managing dynamic hedging programs for their variable annuity business.


Since joining Milliman, Saba has been involved in developing and maintaining hedge and risk management programs for many leading life insurers and reinsurers in the United States and Canada.

Saba's consulting role includes product development, guarantee pricing, hedging strategy analysis, and hedge outsourcing program support. For a number of clients with active dynamic hedge programs, she oversees many of the daily operations, including risk analysis, calculation of option values and market sensitivities, and setting up detailed performance attribution reports.

Prior to joining Milliman, Saba worked at several life insurance companies as an intern for two years. Her responsibilities included performing pricing and valuation for various individual life and group insurance products, programming and developing analytical tools for performance review, assessing and completing experience studies, and analyzing segregated fund guarantee products.

  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman