As a recipient, you’ll receive comprehensive support, from tuition coverage to networking opportunities and guaranteed employment upon graduation. Seize this opportunity to turn your academic potential into a thriving career with Liberty. Join Liberty Group in shaping the future of finance and insurance.
Actuarial Bursaries Overview:
- Maintain consistently high academic performance throughout the first year of study.
- Maintain an overall average above 60%, with a specific focus on achieving 65% or higher in mathematical and actuarial modules.
- Demonstrate strong leadership qualities and active participation in extracurricular activities such as sports, debating societies, chess clubs, and various academic competitions.
- Must be a South African citizen either by birth or descent.
Actuarial Bursaries Requirements:
- 0 to 1 year of experience in a comparable professional setting.
- Minimum educational qualifications include a Bachelor’s degree or Advanced Diploma [NQF Level 07] in Mathematical Sciences.
- Additional preferred qualifications include being a graduate in Actuarial Science.
Responsibilities:
- Apply appropriate research methodologies, tools, and techniques to systematically gather information.
- Provide specialized advice and support within assigned areas to ensure effective solutions and recommendations.
- Conduct necessary actuarial and other analyses for management reporting, proposing recommendations based on findings.
- Stay updated with the latest actuarial development tools and techniques to enhance informed analysis.
- Take responsibility for executing specialized tasks, aiming to improve quality, standards, and outputs following defined procedures.
- Proactively identify problems, determine root causes, and apply solutions in accordance with guidelines, providing necessary information for problem-solving within the specialization.
- Plan and execute tasks, offering suggestions for enhancements related to the specialized area.
- Complete detailed actuarial tasks with defined output requirements, including data validation and checking.
- Utilize analytical tools and techniques, including model building, to resolve actuarial problems.
- Maintain adherence to spreadsheet standards and ensure audit trails are maintained.
- Develop foundational knowledge in general actuarial insurance principles such as statutory reserving, capital requirements, IFRS reporting, and product pricing.
- Build understanding of company-specific knowledge, including product details, organizational structure, business rules, policies, and processes.
Competencies:
- Customer Focus: Ensure understanding and adherence to customer service delivery and “Treating the Customer Fairly” (TCF) principles, providing specialized support and guidance.
- Financial Acumen: Adhere to specified standards, policies, and procedures to mitigate potential losses or wastage within the specialization area.
- Continuous Learning: Actively engage in knowledge sharing and integrate new learnings into the role.
- Performance Improvement: Contribute positively to enhancing area-specific knowledge associated with the specialization.
- Self-Development: Continuously evaluate own performance, seek timely feedback, and request training as needed.
- Governance and Compliance: Comply with governance and compliance procedures relevant to the role, identifying and escalating risks as necessary.
Technical Skills:
- Research and Information Gathering (Basic)
- Quantitative Skills (Intermediate)
- Modelling (Basic)
- Statistical and Mathematical Analysis (Intermediate)
Behavioral Competencies:
- Professional/Technical Learning (Basic)
- Organization 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)
Actuarial Bursaries Application process:
Online Application Submission
- Prospective candidates initiate their application by completing the comprehensive online form available on Liberty’s official website. They ensure all mandatory fields are accurately filled before submitting their application.
Initial Screening
- Upon submission, each application undergoes an initial screening phase to evaluate eligibility and alignment with Liberty’s requirements. Candidates who meet the criteria are shortlisted for further evaluation.
Assessment
- Shortlisted candidates progress to a rigorous assessment stage, which includes various methods such as interviews, tests, or case studies. This phase focuses on evaluating candidates’ technical competencies, problem-solving skills, and their alignment with Liberty’s organizational values.
Final Selection
- Following the assessment phase, Liberty notifies successful candidates of their selection. Offers are extended to those who exhibit exceptional potential and demonstrate a strong fit with Liberty’s mission and objectives.
Offer Acceptance
- Candidates who receive offers are required to formally accept within the specified timeframe. Upon acceptance, Liberty provides detailed information regarding onboarding procedures and next steps to facilitate a smooth transition.