GI Model Validation Actuary

About the Role

A GI Model Validation Actuary at NFU Mutual leads how model validation is delivered across the organisation. Working within the Model Risk capability, you ensure that critical business models, including the Internal Model used for regulatory capital, remain robust, compliant and aligned to industry best practice. You shape and evolve the model validation strategy while supporting sustainable, profitable growth, leading validation activity, enhancing technical processes, and producing clear insights to support senior decision‑making.

• Lead the delivery of model validation activity to meet regulatory expectations.
• Enhance technical processes and produce management information for senior stakeholders.
• Manage project‑based validation of complex models over defined periods.
• Build and maintain relationships with Risk and Data teams and other internal stakeholders.
• Act as a delegate for the Head of Model Risk, providing leadership, oversight and ensuring continuous governance.
• Maintain influential relationships with external industry bodies such as IFoA, PRA and ABI.
• Act as a subject‑matter expert, support colleagues through training and share knowledge on regulatory expectations, validation techniques and developments in data science and AI.
• Support the delivery of short‑term projects and wider activities as priorities evolve.

• Qualified actuary with a fellowship such as FIA or FFA, and strong experience in General Insurance and model validation.
• Deep technical expertise combined with strategic thinking and clear communication to senior audiences.
• Experience with regulatory requirements for internal model approval and governance.
• Proficiency in model validation techniques such as stress testing and change‑analysis.
• Strong understanding of capital management, reserving methods and actuarial modelling.
• Track record of planning and delivering complex actuarial projects.
• Up‑to‑date knowledge of model risk management, data science, machine learning and AI.

• Salary up to £95,000, depending on skill set and experience.
• Annual bonus up to 25% of salary.
• Contributory pension scheme up to 20% including your 8% contribution.
• 28 days annual leave + bank holidays + buy/sell/save holiday trading scheme.
• Family‑friendly policy to balance work and family responsibilities.
• Private medical insurance, with options to add family members.
• Access to savings at high‑street brands, travel and supermarkets.
• £20 contribution to a monthly gym membership – subject to T&C.
• Health and wellbeing plan – cashback for dentist, opticians, physio and more.
• Employee volunteering – one day each year in the community.
• Unlimited access to Refer a Friend £500 bonus scheme.
• Life Assurance cover of 4× salary.
• 15% employee discount on a range of NFU Mutual insurance policies.
• Salary‑sacrifice employee car scheme – subject to eligibility.

At NFU Mutual we support an inclusive workplace and value all the differences that make us unique. We welcome applications from people of all backgrounds, regardless of age, ethnicity, disability, neurodiversity, gender, religion, marital status, sexual orientation or socioeconomic background. We are proud to be a Disability Confident Employer, a Race at Work and Women in Finance Charter signatory.