Model Validation Analyst 12 month Fixed Term Contract - M&G plc. - #2096616

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 also offer work place accommodations to ensure you have what you need to effectively deliver in your 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. P rovides 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 critical Models and User Developed Applications within the business, including pricing models and operational risk modelling.
• The role will focus on the independent validation of the internal valuation models used to determine fair value for illiquid assets held in Asset Management portfolios. The Model Validation Analyst role is responsible for conducting structured, evidence-based reviews of valuation models against the team's established validation framework, providing independent assurance on the integrity of models that directly determine NAV and investor outcomes.

Key Responsibilities:

• Conduct independent 2LoD validation of internal valuation models across private debt, structured credit, and real estate, assessing both conceptual soundness and implementation correctness against the established validation framework
• Produce structured validation reports using the standard template, including methodology assessments, assumptions integrity analysis, sensitivity and fragility analysis, back-testing where transaction data is available, and a formal findings register
• Assess IFRS 13 fair value hierarchy classification for each model and evaluate the observability and governance of key valuation inputs
• Communicate findings clearly and concisely to model owners and present completed validation reports to the Model Technical Working Group
• Maintain the Validation Tracker and ensure timely logging of all findings in the Model Issues Register
• Monitor remediation of prior-cycle findings and escalate overdue items in line with the governance framework
• Support the development and continuous improvement of the validation framework, templates, and methodology

Knowledge statements:

• Knowledge of private market asset valuation methodologies, including DCF, comparables, structured cashflow models, and probability-weighted approaches
• Understanding of IFRS 13 fair value measurement and the Level 1/2/3 observability hierarchy as applied to illiquid assets
• Understanding of key private market asset classes: private debt, structured credit (ABS, CLOs, RMBS), and real estate
• Familiarity with model risk governance principles and 2LoD validation methodology
• Knowledge of sensitivity analysis and stress testing techniques for valuation models
• Awareness of the regulatory landscape for fair value measurement and internal model governance

Experience statements:
(Essential)

• Experience in financial modelling, valuation analysis, or model validation in a financial services or asset management context
• Experience assessing or building DCF or cashflow-based valuation models for fixed income, credit, or real estate assets
• Experience in independent challenge or review of modelling assumptions, with ability to identify weaknesses and formulate findings
• Experience writing structured analytical outputs for senior stakeholders or governance committees

(Desirable)

• Experience in 2LoD model validation, internal audit, or equivalent independent assurance role
• Familiarity with private market asset classes (private credit, structured credit, real estate)
• Experience with IFRS 13 fair value reporting in a fund management or financial reporting context
• Experience using Python or similar tools for data analysis and model testing (useful for assumptions verification and sensitivity work)

Personal attribute/skills:
(Essential)

• Ability to form and defend independent technical opinions and maintain them under challenge from model owners
• 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.
• Strong oral and written communication skills.
• A strong ability to learn quickly and explain issues to others

(Desirable)

• Relationship building skills
• High level of diplomacy, discretion and problem solving ability.
• Experience in Python, PowerBI or R

Qualifications:

• CFA, FRM, or equivalent qualification in finance or investment analysis preferred. Candidates with a strong quantitative background (mathematics, economics, finance) at degree level and relevant industry experience will be considered

Experience Level: Experienced Colleague
Recruiter: Helen Simons

What we offer:

At M&G, we're committed to helping you thrive and supporting your wellbeing, both at work and beyond. Our benefits are designed to help you balance your professional and personal life, while planning confidently for your future. Our UK benefits include:

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