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Jonathan B. Glowacki, FSA, CERA, MAAA

Principal and Consulting Actuary
Brookfield, WI, US

Tel: +1 262 6413560

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Professional Designations

  • Fellow, Society of Actuaries
  • Certified Enterprise Risk Analyst, Society of Actuaries
  • Member, American Academy of Actuaries


  • BS, Mathematics, University of Texas–Austin

Current Responsibility

Jonathan is a principal and an experienced consulting actuary with the Milwaukee office of Milliman. He is a fellow and chartered enterprise risk analyst through the Society of Actuaries. He is proficient in working with and analyzing complex data and with building econometric models that are transparent, intuitive, and informative for clients. He has used this expertise to assist multiple clients in developing econometric models for evaluating credit risk both at point of sale and for seasoned collateral. He joined the firm in 2009.


Jonathan's areas of expertise include mortgage scoring, structured finance, model validation, and loan-loss reserving. He has provided quantitative and strategic consulting services on topics including residential mortgage collateral, credit insurance, debt protection products, reverse mortgages, mortgage insurance, financial guaranty insurance, deposit insurance, commercial mortgage-backed securities, and financial institution credit risk.

Prior to joining Milliman, Jonathan worked at a large multinational reinsurance company, where he focused on asset-liability management, surplus relief transfers, and enterprise risk management.

Presentations and publications

Jonathan has authored many essays and articles on topics including mortgage credit risk modeling and reform, model validation, reverse mortgages, and other topics for organizations such as the Professional Risk Managers' International Association and the U.S. Treasury.

Examples of Jonathan's publications include the following:

  • Effective Model Validation, Milliman Insights, December 24, 2012.
  • The Student Loan Debt Crisis in Perspective, Milliman Insights, June 20, 2012.
  • Mortgage Insurance Loan Performance Analysis as of March 31, 2011, U.S. Treasury, July 28, 2011.
  • Mortgage Cohort Credit Loss Analysis as of September 2010, U.S. Treasury, April 1, 2011.
  • A new emerging risk with mortgage-backed securities: Asset-liability mismatches, PRMIA, August 1, 2009.
  • Work at Milliman

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