Working hours: 35 hours per week, Monday to Friday
Duration: 3 month contract (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 3 month 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 working with large datasets and performing quantitative analysis
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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.
We believe it’s essential to attract, empower, grow and reward talented people, offering fantastic opportunities for career and personal development. 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