Liberty Group Limited

Written on 04 October 2024
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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

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.