Working hours: 35 hours per week, Monday to Friday
Duration: 8 week contract, possibility to extend (Inside IR35)
Location: Gloucester
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About the role
Benefact Group are looking for an Interim Actuarial Model Validation Contractor to join us on a 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.
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Why join us?
Join a collaborative and inclusive culture that’s committed to making a difference and building a more sustainable future. Ranked amongst the UK's 15 Best Big Companies to Work For in 2025, we offer fantastic career and development opportunities within a rapidly growing, innovative Group - where all profits go to charity and good causes.
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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’
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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. We have ambitious plans to become the UK’s number one corporate donor, with strategic objectives in place to double the Group’s size.
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.
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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.
If you need any additional support during the recruitment process, then please let us know.
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*Directory of Social Change’s UK Guides to Company Giving 2017-26