Are you a student with a passion for numbers and a keen interest in actuarial science? Liberty, a leading financial services group, offers an outstanding opportunity for aspiring actuaries through its Actuarial Science Bursary Programme for the 2025 academic year. This bursary not only provides comprehensive financial support but also ensures professional growth and career prospects upon graduation. Read on to find out more about this incredible opportunity and how you can apply.
About the Liberty Actuarial Science Bursary
Liberty offers Actuarial Science bursaries to full-time students from their second year of study. The bursary covers tuition, accommodation, meals, and a travel allowance (where applicable). Additionally, it provides support, networking opportunities, and vacation work. Upon completing your studies, Liberty guarantees employment, setting you on a promising career path.
Eligibility Requirements
To be eligible for the Liberty Actuarial Science Bursary, applicants must meet the following criteria:
- Maintain continuous excellent academic performance in all first-year modules.
- Maintain an overall average above 60% and an average of 65% or more in mathematical and actuarial modules.
- Demonstrate good leadership qualities and participation in extramural activities such as sports, debating societies, chess clubs, and various olympiads is an added advantage.
- Be a South African citizen by birth or descent.
Purpose of the Bursary
The Liberty Actuarial Science Bursary aims to provide specialist actuarial support, enabling sound commercial advice through the application of probability, investment theory, and related statistical tools. Bursary recipients will gain practical experience and develop their skills in a professional environment, ensuring they are well-prepared for their actuarial careers.
Minimum Experience and Qualifications
- 0 – 1 year experience in a similar environment.
- Bachelor`s Degrees and Advanced Diplomas [NQF Level 07] in Mathematical Sciences.
- Additional qualifications in Actuarial Science are preferred.
Process and Responsibilities
As a Liberty Actuarial Science bursary recipient, you will be expected to:
- Apply relevant research methodologies, tools, and techniques to gather information effectively.
- Provide specialist advice and support to ensure appropriate and effective solutions and recommendations.
- Perform required actuarial and other analyses for management reporting and make recommendations based on these analyses.
- Stay abreast of the latest actuarial development tools and techniques.
- Execute specialized work to improve quality, standards, and outputs within defined work routines and operating procedures.
- Proactively solve problems, determine root causes, and apply solutions in line with guidelines.
- Plan task execution and advise on improvements related to your area of specialization.
- Complete actuarial tasks with detailed output requirements.
- Perform data checking and validation work.
- Apply analytical tools and techniques, including model building, to solve actuarial problems.
- Adhere to spreadsheet standards and maintain audit trails.
- Build a basic understanding of general actuarial insurance knowledge, such as statutory reserving and capital requirements, IFRS reporting, product pricing, etc.
- Gain a basic understanding of company-specific knowledge, such as product knowledge, company structure, business rules, policies, and processes.
Customer Service and Governance
- Ensure understanding and adherence to customer service delivery and Treating the Customer Fairly (TCF) principles.
- Adhere to specified standards, policies, and procedures to prevent potential losses/wastage related to your area of specialization.
- Comply with set governance and compliance procedures and processes, identifying and rectifying risks where necessary.
Technical and Behavioural Competencies
The bursary programme emphasizes developing both technical and behavioural competencies, including:
- Research and Information Gathering (Basic).
- Quantitative Skills (Intermediate).
- Modelling (Basic).
- Statistical and Mathematical Analysis (Intermediate).
- 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).
How to Apply
If you meet the eligibility requirements and are ready to embark on an exciting actuarial career with Liberty, apply for the Actuarial Science Bursary for 2025 by visiting the Liberty Careers Page.
Closing Date: 30 August 2024.
