Challenger Limited is an ASX-listed investment management firm managing $128.2 billion in assets (as at 31 December 2025). Life with us is fast moving and always exciting. Together we’re driving to deliver our vision to provide our customers with financial security for a better retirement.
We achieve this goal by providing a work environment where people from diverse backgrounds, with a range of skills and experiences can contribute and succeed.
Challenger is looking beyond traditional validation methods, using AI to identify smarter, more efficient ways of working. The role offers the opportunity to help define what the next generation of model validation could look like.
You’ll sit close to the front office. This isn’t a back-office compliance function, it’s an independent challenge role with direct access to the people building and using the models
This is an opportunity to join a developing function where you can help shape how Challenger validates and industrialises critical models
You’ll work on models that directly influence how Challenger manages its balance sheet - the work is material and the decisions it informs are real
The Opportunity
Challenger’s Life business relies on a range of models covering pricing, hedging, capital and cashflow management. These models must be independently validated, to meet internal governance requirements and external regulatory expectations, including APRA standards.
This role sits within the COO team and is responsible for the independent validation of critical and material models. You will assess model design, assumptions, methodology and outcomes, challenge where appropriate, and document findings in line with the established validation framework.
The focus of the role is to manage and execute the ongoing validation cycle across the models portfolio, identify opportunities to improve efficiency and effectiveness, and leverage AI-enabled tools to support the validation process. The role requires strong analytical skills, sound judgement and an interest in understanding how financial models operate and perform.
What you’ll do
Independently validate critical and material models across the Life business on a structured rolling cycle
Interrogate model methodology, assumptions, data inputs, and outputs — and document findings to audit standard
Use AI tools to industrialise and scale the validation process
Monitor for model drift and ensure models continue to perform as intended between validation cycles
Work closely with quantitative developers, actuaries, and model owners to resolve issues
Maintain the model risk register and contribute to model risk policy for critical and material models
Support APRA reviews, internal audits, and regulatory requests with clear, well-evidenced documentation
Here’s what matters for this role:
You have solid experience in a market risk, model risk, or quantitative role within financial services. A background in a bank or similar institution is a strong foundation
Strong grounding in financial instruments, particularly fixed income, derivatives, and cashflow modelling.
Genuine curiosity about AI and its application to financial modelling - not just open to using AI tools, but actively interested in how they can make complex work more rigorous and efficient
Previous experience validating models is a plus
Comfortable working in Python and Excel/VBA
Clear, precise written communication. You can document technical findings in a structured and transparent way that supports regulatory review and stakeholder understanding
Candidates may come from a range of backgrounds, including actuarial, quantitative, risk, or model validation roles. Experience applying rigorous analytical judgment is more important than any single qualification or career path.
Challenger Limited is an ASX-listed investment management firm focused on providing Australians with financial security in retirement. The COO team works across the Life Investments business, partnering with investment, risk, actuarial and technology teams to deliver change, manage risk and improve business outcomes.
We support your growth and development, offer flexibility, and value the unique contributions people bring. We provide access to a range of exclusive employee benefits that will support you both personally and professionally and a hybrid work environment including.
Discretionary bonus scheme.
Employee share plan.
Eighteen weeks paid leave for all new parents.
Flexibility on when, and how, parental leave is taken.
Challenger Day – one extra day off every year in recognition of the effort our people make.
Subsidised on-site café and fantastic central location a stone's throw from Martin Place Metro
Additional support leave (fertility treatment leave, gender affirmation leaves).
Extra superannuation contributions.
Access to Fitness Passport
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Challenger's employee value proposition guides how we work: Grow and realise your potential, supporting each other, stronger together and making things happen. Our culture encourages curiosity, considered thinking and meaningful contribution, with opportunities to build a broad and rewarding career.
We are committed to fostering a safe, inclusive and respectful workplace where people of all backgrounds, identities and ways of thinking can thrive, and promoting flexible working to support work-life balance.
Challenger is proud to be a Workplace Gender Equality Agency (WGEA) Employer of Choice for Gender Equality, a Family Friendly Workplace and recognised as a Bronze Employer in the Australian Workplace Equality Index (AWEI), the national benchmark for LGBTQ+ workplace inclusion.
Job type:
Permanent
Posting Close Date :
23/08/2026
