Actuarial Bursaries
Liberty offers Actuarial Science bursaries to full-time students from their second year of study. 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.
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Application Criteria
Actuarial Graduate Recruitment
Each year, Liberty conducts an annual actuarial graduate recruitment drive, providing talented graduates with the opportunity to secure permanent positions within the company. We actively seek graduates from South African universities accredited by ASSA (Actuarial Society of South Africa).
Welcome to the captivating realm of Actuarial Science at Liberty! Our Actuarial Job Shadowing program provides students in grades 11 or 12 with a unique opportunity to delve into the dynamic field of actuarial work.
Date: 3 Jun 2024
Location: GT, ZA
Company: Liberty Group Limited
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
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.
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)
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