Model Validation Senior Actuary

M&GPrudential; City of Edinburgh; Hybrid; GBP 80,000 - 110,000; Full time

Benefits offered by this job

Pension up to 18%

Share Save

Share Incentive Plan

38 days annual leave

Job summary

M&G plc seeks a Model Validation Senior Actuary in Edinburgh. You will independently validate a range of models (capital, pricing, valuations) and present findings to senior committees.

The role supports the risk framework and regulatory reporting, while working closely with stakeholders to improve controls and risk management across the group. The role requires actuarial proficiency, governance experience, and strong communication, with flexible/hybrid working arrangements and a focus on

Qualifications

• Experience in actuarial and statistical modelling.
• Experience in model risk and governance.
• Strong knowledge of UK financial services regulatory environment.

Responsibilities

• Provide independent validation of models across M&G plc (e.g., capital, pricing, valuations).
• Summarise validation results and present to committees and senior stakeholders.
• Collaborate to expand coverage of model development risks and enhance risk framework.

Skills

Actuarial modelling

Model risk governance

Python

PowerBI

R

Education

Professional qualification CFA or Qualified Actuary

Tools

Python

PowerBI

R

Job description

## Model Validation Senior ActuaryApply: Fenchurch Avenue: Kildean: Edinburgh: Full time: Posted Today: End Date: October 4, 2026 (19 days left to apply): R19003At M&G, our purpose is to give everyone real confidence to put their money to work. With a heritage dating back more than 175 years, we have a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. Our two distinct operating segments, Asset Management and Life, work together to provide access to balanced, long-term investment and savings solutions. Through telling it like it is, owning it now and moving it forward together with care and integrity; we are creating an exceptional place to work for exceptional talent. We will consider flexible working arrangements for any of our roles and offer workplace adjustments to ensure you have the support you need to succeed in your role.**Context for the role:**The M&G plc Risk and Compliance function:* Assists the Board to formulate, implement and monitor adherence to the Risk Appetite and Limit framework, risk management plans, risk policies, risk reporting and risk identification processes. Provides guidance, tools and technology and reviews and assesses the risk taking activities of, the first line of defence, where appropriate challenging the actions being taken to manage and control risks; and, provides the Board with an aggregate view of M&G plc’s risk profile and supports them in identifying and assessing key and emerging risks which threaten the achievement of M&G plc’s objectives. The M&G Life team is responsible for oversight of risks within M&G Life.* The Model Validation team support the business in managing model risk across the group through the independent validation of both the Solvency II Internal Model and other critical Models and User Developed Applications within the business, including pricing models and operational risk modelling. The team also has responsibility of the company Solvency UK compliance framework, ensuring the business adheres to the relevant regulatory requirements including any new requirements issued by the PRA.* The Manager role will provide the opportunity to validate the Internal Model, interpret and support the business in understanding and adhering to the various regulations and produce and present papers for senior committees.**Key Responsibilities:*** Provide independent validation of a range of models used across M&G plc (e.g. capital, pricing, valuations) to provide assurance on the accuracy, reliability, and integrity of models used within an organization. This involves conducting independent reviews of models, assumptions, and methodologies to identify potential risks or weaknesses. Following completion of the validation, you will be responsible for summarising the results of the validation and present these in a succinct manner to relevant committees and senior stakeholders as well as agree any actions with the model owners.* Work collaboratively with colleagues and key stakeholders to build out coverage of our model development risks and support any developments to the risk framework.* To work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers outcomes and a reduction in M&G plc’s operational risk.* To support the reporting of the quarterly model change log to the PRA and results of the Solvency UK Compliance exercise to senior committees and Boards.**Knowledge statements****:*** Experience in the validation of models and tools* Good knowledge of Financial services regulations and internal model design* Working knowledge of industry best practice and good network / links with individuals and external bodies* Good knowledge of UK financial services regulatory environment* To have strong knowledge and recent exposure to model development risks and risk framework development* Awareness of external developments and ability to identify, recommend and implement improvements to processes and policies in line with these detailed statistical knowledge**Experience statements:**(Essential)* Experience in actuarial and statistical modelling* Experience in model risk and governance* Experience of providing constructive challenge and oversight of technical matters* Experience in model development risks and risk framework development(Desirable)* Experience in risk guidance and compliance environments* Experience of liaising, influencing and negotiating effectively with internal parties* Experience of Financial Services regulatory environment and Prudential regulations* Experience of managing projects**Personal attribute/skills:**(Essential)* Able to work collaboratively across the immediate team and broader Risk and Compliance function while also being able to work independently* Good analytical and organisational skills.* Good investigative skills and ability to constructively challenge* Able to look beyond face value, ask the right questions and make links and connections across the organisation.* A strong ability to learn quickly and explain issues to others(Desirable)* Relationship building skills* Strong oral and written communication skills.* High level of diplomacy, discretion and problem solving ability.* Experience in Python, PowerBI or R**Qualifications:*** Professional qualification, e.g. CFA or Qualified Actuary, desirableExperience Level - Manager/ExpertRecruiter - Helen Simons**What we offer:** We’re dedicated to supporting your wellbeing and helping you thrive, both at work and beyond. Our benefits are designed to help you balance your professional and personal life**,** and financially plan for the future. **Our UK benefits include**: * A valuable **pension scheme of up to 18%** (13% made up of employer contributions and 5% employee contributions).* Access to our **Share Save** and **Share Incentive Plan,** alongside financial wellbeing and support services to help **give you real confidence to put your money to work.*** Enjoy 38 days annual leave (including bank holidays), with the opportunity to purchase up to five extra days. Our **Time Off When You Need It** policy gives you the flexibility - to balance work and personal commitments.* Our market-leading **Inspiring Families** policy includes comprehensive support and paid parental leave covering maternity, adoption, surrogacy, and paternity leave - because supporting families is an important part of our inclusive culture.* Health & Protection cover includes **Private Healthcare, Critical Illness cover** and **Life Assurance** for you, with additional family options - for peace of mind. To explore more about life at M&G and our full benefits offering, visit **Life at M&G** At M&G we strive to have a diverse workforce and an inclusive culture, underpinned by our policies and employee-led networks that offer networking, support and development opportunities for the diverse communities our colleagues represent. We welcome applications from people of all backgrounds – across gender, ethnicity, age, disability, sexual orientation and more – including neurodivergent individuals, career returners and those with military service experience. M&G is proud to be **Level 3:** **Disability Confident Leader**under the UK Government Disability Confident employer scheme, and we welcome applications from candidates with disabilities and long-term health conditions. If you would like to participate in the initiative, you will have the opportunity to indicate this on your application. We are committed to providing an inclusive recruitment process. All candidates have the opportunity to request reasonable adjustments when applying. If you need any additional support at any stage, please contact us at: [e-mail]