Chad Schuster

Principal

Chicago, IL, US

Chad is a principal and consultant with Milliman's Financial Risk Management Practice in Chicago. Chad oversees the development of Milliman's MG-Hedge® actuarial software that is used to model insurance company liabilities in a variety of contexts: market-consistent valuation, simulation analysis of risk management strategies, modeling of managed risk funds, and capital/reserve stochastic-on-stochastic analysis. Chad has also assisted a variety of clients in actuarial system modernization design and development.

Download bio

Loading component...

Experience

For a few clients with active hedge programs, Chad has overseen many of the daily operations of the programs and has performed strategic analysis of projected hedge program performance through the construction and use of complex stochastic-on-stochastic financial projections. As many clients have started to view hedging as a key consideration in product design, Chad has assisted with development of liability and option valuation models to assess pricing of new products and has implemented new models for these products in MG-Hedge. In addition to his focus on market-consistent valuations and hedge strategy performance testing, Chad has created customized models to address capital requirements and GAAP accounting measures.

Professional Designations

GARP Certified Financial Risk Manager (FRM)

Education

MS, Physics, Clemson University
MS, Financial Mathematics, University of Chicago

Loading component...

Publications

Read their latest work

Article

GPU: Exploring use cases in actuarial modeling

04 February 2026 - by Karol Maciejewski, Chad Schuster, Jim Brackett, Corey Grigg

Can GPUs be effectively used for actuarial modeling and, if so, for which use cases and how?

Article

Meeting software, hardware challenges: Driving computer efficiency in actuarial valuation and analysis

12 September 2025 - by Chad Schuster, Jim Brackett, Corey Grigg

We explore how actuaries can address software and hardware challenges to improve computing efficiency in valuation and analysis.

Article

Python and Numba

15 April 2025 - by Jim Brackett, Chad Schuster, Donal McGinley, Corey Grigg, Kshitij Srivastava

We review how Numba, a technology for transforming Python code to native machine code, can help accelerate processing to help insurers deliver value.

Chad Schuster

Loading component...

Experience

Loading component...

Read their latest work

GPU: Exploring use cases in actuarial modeling

Meeting software, hardware challenges: Driving computer efficiency in actuarial valuation and analysis

Python and Numba

CHOOSE A LOCATION AND LANGUAGE

Chad Schuster

Experience

CHOOSE A LOCATION AND LANGUAGE