Actuarial Associate at PricewaterhouseCoopers (PwC)

A career within Actuarial Services, will provide you with the opportunity to contribute general insurance advice and consulting services to clients such as insurers, banks, regulators, and third party administrators. You’ll provide advice covering solvency, economic capital, risk management, mergers and acquisitions, company restructuring and risk control, financial modelling, underwriting, new legislation, and the efficiency of claims or reporting processes. Simply put, you might help analyse the impact that new regulation will have on an insurance company’s balance sheet or you could be revising businesses’ projections and making sure they have adequate reserves.
To really stand out and make us fit for the future in a constantly changing world, each and every one of us at PwC needs to be a purpose-led and values-driven leader at every level. To help us achieve this we have the PwC Professional; our global leadership development framework. It gives us a single set of expectations across our lines, geographies and career paths, and provides transparency on the skills we need as individuals to be successful and progress in our careers, now and in the future.

As an Associate, you'll work as part of a team of problem solvers, helping to solve complex business issues from strategy to execution. PwC Professional skills and responsibilities for this management level include but are not limited to:

• Invite and give in the moment feedback in a constructive manner.
• Share and collaborate effectively with others.
• Identify and make suggestions for improvements when problems and/or opportunities arise.
• Handle, manipulate and analyse data and information responsibly.
• Follow risk management and compliance procedures.
• Keep up-to-date with developments in area of specialism.
• Communicate confidently in a clear, concise and articulate manner - verbally and in the materials I produce.
• Build and maintain an internal and external network.
• Seek opportunities to learn about how PwC works as a global network of firms.
• Uphold the firm's code of ethics and business conduct.
   

JOB PURPOSE
Use complex financial and statistical theories to weigh up risks and estimate the odds of what might happen. Just as importantly, you'll develop a flair for presenting your findings in simple, easy-to-understand language. What's more, early client exposure will broaden your experience.
As an actuary, you'll work with uncertainty. Using complex financial and statistical theories to calculate the likelihood of events, you'll work out what that means financially for clients. Our work makes a difference in determining insurance premiums, managing financial risks for banks, or establishing a company's retirement plan.

PRINCIPAL ACCOUNTABILITIES:
You will mainly focus on life insurance and banking industries, with additional expertise in the health, short-term insurance, employee benefits and asset management markets. You will gain experience in the following fields:

• Financial modelling
• Financial reporting
• M&A and capital structuring
• Risk & capital management
• Credit risk model design and validation
• Regulatory solutions
• Embedded value services
• Actuarial process improvement and actuarial governance
• Strategic review and market entry
• People and data analytics

MINIMUM QUALIFICATIONS:

You may apply at any point during your honours year of study.

• You must be working towards a bachelor’s degree in Actuarial Science, with excellent marks
• If you have your degree, you must have passed some actuarial exams and be committed to completing all actuarial examinations
• We will consider you if you studied any quantative field and wish to pursue a career as an actuary

EXPERIENCE:

• 2-4 years’ experience

KEY KNOWLEDGE & SKILLS:

• Good interpersonal skills
• Enthusiasm, drive, determination and output driven
• Leadership potential, professionalism and integrity
• Proficiency in English and good communication skills
• Deadline-driven
• Attention to detail
• Logical thinking
• Broader business knowledge, ability to think out of the box to deliver quality solutions that our clients seek
• Strong analytical skills and a good background in statistics
• Strong written and verbal communication skills to present and explain complex findings clearly and with impact
• Proficiency in MS Excel and experience with AXIS software is an asset