Interim Actuarial Model Validation - Inside IR35 Contract

Benefact Group; Gloucester; Hybrid; GBP 50,000 - 80,000; Full time

Job summary

Benefact Group is seeking an Interim Actuarial Model Validation Contractor for an 8 week hybrid contract. You will support actuarial risk management and run various validation reports.

Ideal candidates will have experience in model validation, a background in general insurance, and strong communication skills. Benefact Group fosters a culture of kindness and inclusion, making this opportunity unique within the financial services sector.

Qualifications

• Proven experience in model validation or independent model review.
• Strong background in pricing, reserving, or capital modelling.
• Experience communicating with insurance functions.

Responsibilities

• Support actuarial risk management across the Benefact Group.
• Run annual validation reports and deep dive tests for risk.
• Liaise with business areas to compile actuarial opinions.

Skills

Model validation

General Insurance knowledge

Communication skills

Education

Qualified actuary (FIA or equivalent)

Job description

Working hours: 35 hours per week, Monday to Friday

Duration: 8 week contract, possibility to extend (Inside IR35)

Location: Gloucester

About The Role

Benefact Group are looking for an Interim Actuarial Model Validation Contractor to join us on an 8 week, Inside IR35 contract on a hybrid basis. As an Interim Actuarial Model Validation Contractor you will support the provision of Actuarial Risk management across the Benefact Group.

What you'll be doing

• Internal Model validation
• Run an annual ‘model outputs’ validation report which delves into metrics including diversification benefit and comparison to standard formula
• Deep dive validation tests for targeted areas of risk
• Events Not in Data (within Underwriting and reserving risk)
• Latent claims (within reserving risk)
• Liaison with business areas to compile an Actuarial Function opinion on underwriting and pricing
• Independent review and challenge of business plan actuarial assumptions

What you'll need to have

• Proven experience in model validation / model risk / independent model review
• Strong background in General Insurance – pricing, reserving, or capital modelling
• Qualified actuary (FIA or equivalent) preferred but not essential depending on experience level
• Experience in communicating with insurance business functions (across actuarial, underwriting and claims), identifying improvements and writing clear recommendations

About Us

Benefact Group is a unique international financial services Group made up of over 30 businesses. We are owned by a charity and have been the 3rd largest UK corporate donor over a decade, having given away £250 million since 2014. Our giving ethos, 135‑year history and the diversity of what we do, has enabled us to build a culture of kindness, great ambition, and of passionate people driven to do better and be better.

At Benefact Group, we are committed to creating an inclusive culture and building an environment where each and every one of us feels valued and respected. We are a community made up of people with a range of different backgrounds, abilities, perspectives, beliefs and interests and we value the strength this brings to us as a Group. We welcome applications from everyone.