At a Glance
- Tasks: Validate actuarial models and support risk management across the Benefact Group.
- Company: Join a unique financial services group with a charitable ethos.
- Benefits: Hybrid working, competitive pay, and potential for contract extension.
- Other info: Inclusive culture valuing diverse backgrounds and perspectives.
- Why this job: Make a real impact in a supportive and ambitious environment.
- Qualifications: Experience in model validation and strong communication skills.
The predicted salary is between 50000 - 60000 £ per year.
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.
Interim Actuarial Model Validation - Inside IR35 Contract employer: Benefact Group
Benefact Group is an exceptional employer, offering a unique opportunity to contribute to a charitable organisation that prioritises kindness and community impact. With a strong commitment to inclusivity and employee development, our culture fosters collaboration and innovation, making it an ideal environment for professionals seeking meaningful work in the financial services sector. Located in Gloucester, this role provides the flexibility of hybrid working, allowing you to balance your professional and personal life while being part of a team dedicated to making a difference.
StudySmarter Expert Advice🤫
We think this is how you could land Interim Actuarial Model Validation - Inside IR35 Contract
✨Tap into Local Agencies
For temporary roles like the one at Benefact Group, don't overlook local recruitment agencies that specialise in the insurance sector. They often have inside info on your local market and can help you get your foot in the door quicker!
✨Seasonal Opportunities Are Gold
Insurance companies often ramp up staffing for specific seasons, especially during peak times like annual policy renewals. Keep an eye out for those temporary gigs and be ready to jump in. Make sure you’re on our website regularly to catch those listings!
✨Network with Industry Pros
Join insurance-focused online platforms and forums to connect with professionals who can share insider tips about temporary roles. Attend local industry meetups or workshops to widen your network; sometimes it’s all about who you know!
✨Showcase Your Flexibility
For temp roles, employers are often looking for candidates who can hit the ground running. Highlight any previous experience you have in fast-paced environments on your profile or during interviews, so Benefact Group knows you can adapt quickly to their needs!
We think you need these skills to ace Interim Actuarial Model Validation - Inside IR35 Contract
Some tips for your application 🫡
Highlight Relevant Certifications:In the insurance world, having the right qualifications can set you apart. If you've got any certifications like Cert CII or other relevant credentials, make sure they're front and centre on your CV. It shows you're committed to the industry and ready to hit the ground running!
Showcase Your Customer Service Skills:Insurance is all about helping clients through tricky times. Use your application to mention your previous customer service experience or soft skills like problem-solving and empathy. These are crucial for any temporary role in the insurance sector, so don’t shy away from flexing these muscles!
Tailor Your CV for the Temp Role:For a temporary position, it's all about demonstrating your ability to adapt quickly. Tailor your CV to highlight experiences that show you can jump in and make an impact immediately. Mention short projects, freelance gigs, or any fast-paced roles that show you thrive in dynamic environments.
Be Clear About Availability:In your cover letter, clearly state your availability for the temporary role. Since this is a short-term gig, emphasising your flexibility and readiness to start immediately can really catch Benefact Group's eye. Remember, they need someone who can fit right in, so make it easy for them to see you as that person!
How to prepare for a job interview at Benefact Group
✨Master the Basics of Underwriting
Since you're aiming for a temporary role in insurance, brush up on the basic principles of underwriting. Be ready to discuss how you would assess risks and make simple decisions on policy issuance, as these are likely to come up in technical questions.
✨Familiarise Yourself with Relevant Regulations
Insurance is heavily regulated, so it helps to be familiar with key regulations that affect the industry. Bring up any specific legislation you're aware of and how it could impact your work at Benefact Group. This shows you're engaged and knowledgeable.
✨Highlight Your Flexibility
As it's a temporary position, it's crucial to stress your adaptability. Talk about previous experiences where you had to pick up new tasks quickly or adjust to changing needs. Employers will appreciate your willingness to jump in and get the job done without a long onboarding process.
✨Prepare to Discuss Claims Processing
Be ready to dive into discussions around claims processing, as this might be a big part of your role. Bring along examples of how you've approached problem-solving in past roles, especially if you've dealt with customer claims or insurance queries before. It's a great way to show your relevant experience.
