Actuarial Bursaries 2024 1 at Liberty Group South Africa

Liberty offers Actuarial Science bursaries to full-time students from their second year. A Liberty bursary covers tuition; accommodation, meals and a travel allowance (where applicable); support; networking opportunities and vacation work. You will be guaranteed employment once you have completed your studies at university.

• Maintain continuous excellent academic performance in all modules in first year of study;
• Maintain an overall average above 60% and average 65% or more for mathematical and actuarial modules;
• Good leadership qualities and participation in extramural activities such as sports, debating societies, chess clubs and various olympiads, etc. is an added advantage; and
• South African citizen by birth or descent.

Purpose

• To provide specialist actuarial support that enables sound commercial advice through the application of probability & investment theory and related statistical tools and the execution of predefined objectives as per agreed SOP's.

Minimum Experience

• 0 - 1 year experience in a similar environment

Minimum Qualifications

• Bachelor`s Degrees and Advanced Diplomas [NQF Level 07] in Mathematical Sciences

Additional Minimum Qualifications

• Actuarial Science Graduate

Outputs
Process

• Apply relevant research methodologies, tools and techniques to effectively and purposefully gather information.
• Provide specialist advice and support in area of accountability to ensure that identified solutions and recommendations are appropriate and effective.
• Perform required actuarial and other analyses for management reporting, and make recommendations to support these analyses.
• Stay abreast with latest actuarial development tools and techniques in order to conduct analysis in an informed manner.
• Accountable for the execution of specialised work including the improvement of quality, standards and outputs within defined work routines and operating procedures.
• Proactively solves problems, determines root-cause and applies solutions in line with guidelines and providing the necessary information to solve problems related to area of specialisation.
• Plan for own task execution and advises on improvements related to area of specialisation.
• Completes actuarial tasks that are relatively granular with detailed output requirements defined
• Performs data checking and validation work
• Applies analytical tools and techniques, including model building, to solve actuarial problems
• Adheres to spreadsheet standards and maintains audit trails.
• Builds a basic understanding of general actuarial insurance knowledge, e.g. statutory reserving and capital requirements, IFRS reporting, product pricing etc.
• Builds a basic understanding of company specific knowledge, e.g. product knowledge, company structure, business rules, policies, processes etc.

Customer

• Ensure own understanding and adherence to customer service delivery and Treating the Customer Fairly (TCF) principles to provide specialist support and guidance.

Finance

• Adhere to specified standards, policies and procedures to prevent potential losses/wastage related to the area of specialisation.

Learning and Growth

• Interact proactively with others for the purpose of continuous knowledge sharing; and integration of own new knowledge.
• Contribute positively to own area-specific knowledge improvement associated with area of specialisation.
• Continuously assess own performance, seek timely and clear feedback and request training where appropriate.

Governance

• Comply to set governance and compliance procedures and processes related to an area of work and continuously identify, rectify and escalate risks where necessary.
• Adheres to Actuarial Guidance Notes and any other applicable regulations.

Competencies
Liberty Values
Technical Competencies

• Research and Information Gathering (Basic)
• Quantitative Skills (Intermediate)
• Modelling (Basic)
• Statistical and Mathematical Analysis (Intermediate)

Behavioural Competencies

• Professional/Technical learning (Basic)
• Organisation and Attention to Detail (Basic)
• Interpersonal Effectiveness (Basic)
• Problem Solving and Analysis (Basic)
• Teamwork and Cooperation (Basic)
• Relationship Management and Networking (Intermediate)
• Customer Orientation (Basic)