Financial Model Quality Assurance Analyst

Job summary

About us

At the Government Actuary’s Department (GAD) our mission is to support effective decision-making and robust reporting within the public sector as the first-choice provider of actuarial and specialist analysis, advice and assurance. The department’s work covers quality assurance of analysis, financial modelling, and valuation work and policy support in relation to insurance and contingent liabilities, pension schemes, financial risk, and social security.

To deliver our mission GAD works like a consultancy within the UK Civil Service, charging by the hour to recover our costs and ensure value for money in our advice and analysis. Being a Government Department allows us to still work more closely in partnership with our clients and to offer secondments and other ways of helping departments and public sector bodies.

About the Role

The roles sits within the Analytical Solutions Team (AST) which comprises around 80 analysts and actuaries and works across a wide and growing range of analytical areas. You will be part of the Models, Development & Assurance team whose mission is to deliver high-quality models and systems that help government make better decisions. Within this team, this role will focus on the assurance of Excel-based and financial models as a distinct category of model types.

Many important decisions across government are supported by spreadsheets, actuarial models, financial projection tools, budgeting models, valuation models, and other Excel-based analytical tools. These models can be business-critical, even where they are smaller or less technically complex than statistical or machine learning models. They therefore require clear design, robust checks, good documentation, appropriate governance, and proportionate assurance.

We are looking for a proactive and detail-focused analyst to help review, test, and improve the quality of Excel-based and financial models used across government. You will help clients identify and manage model risks, improve model transparency, strengthen controls, and build confidence that models are fit for purpose.

This role would suit someone who has experience developing, reviewing or analysing complex spreadsheet models used to support investment, regulatory, commercial, or public policy decisions. The ideal candidate would have relevant experience:

• Financial modelling / corporate finance,
• Actuarial, pensions or investment modelling
• Infrastructure or project finance, or
• Economic appraisal

N.B. GAD may work with recruiters on this campaign provided prior agreement is reached for this specific campaign

Job description

What does the role involve?

As a Financial and Excel Model Quality Assurance Analyst, you will help deliver independent and proportionate assurance of models that support important public sector decisions. You will work with analysts, actuaries, policy teams and client organisations to review how models have been designed, built, tested, documented and governed, with a particular focus on spreadsheet-based, actuarial and financial models.

The role will involve examining model logic, formulae, inputs, assumptions, outputs, controls and audit trails to assess whether models are robust, transparent and fit for purpose. You will help identify errors, weaknesses and areas of model risk, and work constructively with model owners to agree practical recommendations that improve confidence in the model and the decisions it supports.

You will support a range of assurance activities across the model lifecycle. This may include helping clients define model requirements, reviewing documentation and governance arrangements, testing calculations and sensitivities, checking changes to existing models, assessing the suitability of assumptions, and preparing clear assurance reports for technical and non-technical audiences.

You will also contribute to the development of GAD’s wider model quality assurance capability. This will include sharing good practice, helping improve assurance templates and guidance, supporting colleagues to apply appropriate standards, and promoting a culture where model risks are understood, documented and managed effectively.

Person specification

Managing delivery

• Work with client leads and project managers to agree proportionate QA scopes, plans, priorities and deliverables.
• Manage allocated assurance work to agreed timescales, budgets and quality expectations.
• Maintain clear records and audit trails, including issue logs, findings, actions, risks and follow-up activity.
• Prepare clear, concise and accessible assurance outputs for clients and internal stakeholders, including reports, findings summaries and recommendations.

Conducting QA

• Conduct quality assurance reviews of Excel-based, actuarial and financial models, including reviewing model design, structure, formulae, inputs, assumptions, outputs, documentation, controls and governance.
• Carry out verification and validation activities to check that models have been built correctly, work as intended, and are suitable for their stated purpose and level of risk.
• Test model calculations and sensitivities, investigate issues, challenge assumptions constructively, and identify practical recommendations to improve model quality, transparency and reliability.
• Apply relevant modelling and quality assurance standards, including GAD guidance, professional standards and wider government good practice such as the AQuA Book.

Building capability

• Support improvements to model QA templates, tools, checklists and guidance, with a focus on spreadsheet and financial model assurance.
• Share learning and good practice across the team and wider organisation to promote consistent, proportionate and effective model assurance.
• Support training, mentoring and knowledge sharing for colleagues involved in model development and assurance.
• Promote a culture where model risks are understood, documented and managed effectively.

Other

• To ensure effective and agile co-operation with other teams within AST, including flexible working across teams as required to meet client demand.

This job description is a broad reflection of the current duties. It is not an exhaustive list, and changes may be required, based on GAD’s immediate operational needs which are at the discretion of the relevant Unit Director and in conjunction with the post holder.

Behaviours

We'll assess you against these behaviours during the selection process:

• Working Together
• Delivering at Pace
• Managing a Quality Service

Technical skills

We'll assess you against these technical skills during the selection process:

• Experience of developing and reviewing Excel-based analytical models used for financial forecasting, investment/economic appraisal, regulatory/policy analysis. (Essential)

Benefits

Alongside your salary of £53,539, Government Actuary's Department contributes £15,510 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides (opens in a new window).

As well as competitive salaries, we offer a substantial package of benefits:

• Exceptional learning and development opportunities that you can explore alongside your day-to-day work.
• 25 days annual leave per year, increasing to 30 days after 5 years’ service. In addition, we offer 9 days public and privilege days leave per year (pro rata for part time staff)
• A Civil Service pension with an employer contribution of 28.97%
• 5 days of paid volunteering leave
• Up to 9 months maternity leave on full pay + generous paternity and adoption leave
• Staff reward and recognition bonuses that operate throughout the year.
• Occupational sick pay
• Family-friendly policies such as help with caring responsibilities, special leave, generous paid maternity, paternity, and adoption leave.
• Access to employee assistance programme which offers staff 24/7 confidential support and resources such as counselling, debt guidance and management advice.
• The opportunity to join a trade union.
• A working culture which encourages inclusion and diversity.
• Salary advances for travel costs, including annual season tickets and cycle-to-work schemes.
• Access to the Edenred employee benefits system which offers discounts to popular retailers and access to various useful resources such as financial and savings advice.
• Complimentary BUPA health check.

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours and Technical skills.

As part of the application process, you will be asked to complete:

A CV setting out your career history, with key responsibilities and achievements. Please ensure you provide employment history that relates to the essential criteria, and that any gaps in employment history within the last 2 years are explained.

A Personal statement of up to 500-words explaining how you meet the essential criteria for the role, with particular reference to the criteria provided in the person specification of the JD.

Your CV and Personal Statement will be used to assess the essential criteria listed in the job description.

During the interview you will be assessed on the experience and behaviours listed in the Person Specification and detailed in this advert. The interview will include a presentation, details of which will be sent to those invited to interview.

Application deadline: 1200 hrs on 12 October 2026

Shortlisting: By w/c 12 October 2026

Interviews: w/c 26 October 2026

Interview location: In office (Either London, E14 4PU or Edinburgh, EH8 8FT)

Please apply via our recruitment portal below.

As part of the application form process, please submit your CV and supporting statement. Please do not email your CV outside of this process as it will not be accepted.

Shortlisting criteria is based on the Person Specification as set out in the Assessment Criteria section of the Job Description. Please ensure you provide examples of how you meet the Assessment Criteria; a strong application will also demonstrate that you meet the required criteria that are identified as key for this role. Applications will be shortlisted in line with the essential criteria for the role. The desirable criteria will not be assessed throughout the recruitment process, but will be used in the event of tied scores between candidates. Behaviours will be assessed at sift and interview stage. Candidates who are successful at shortlist will be contacted as soon as possible and advised of the interview process and assessment (exact times and dates will also be confirmed).

A reserve list will be held for a period of 12 months from which further appointments can be made.

Artificial Intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance for more information on appropriate and inappropriate use.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a basic (or equivalent) criminal record check.People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

The Civil Service welcomes applications from people who have recently left prison or have an unspent conviction. Read more about prison leaver recruitment (opens in new window).Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

• Name : Recruitment Team
• Email : recruitment@gad.gov.uk

Recruitment team

• Email : recruitment@gad.gov.uk

Further information

The Government Actuary’s Department’s recruitment processes are underpinned by the recruitment principles of the Civil Service Commissioner, which outline that selection for appointment be made on merit on the basis of fair and open competition http://civilservicecommission.independent.gov.uk/civil-service-recruitm… If you feel at any time your application has not been treated in accordance with the values in the Civil Service Code and/or if you feel the recruitment has been conducted in such a way that conflicts with the Civil Service Commissioner’s Recruitment Principles, you may make a complaint, by contacting the recruitment team at recruitment@gad.gov.uk in the first instance. If you are not satisfied with the response you receive you can contact the Civil Service Commissioners.

Attachments

Excel and Financial Model Quality Assurance SEO Job Description Opens in new window (pdf, 578kB)