Applications Open for the Road Accident Fund (RAF) Actuarial Internship Programme 2023

The Graduate Development Programme presents opportunities for young, high-potential individuals from diverse backgrounds to grow and contribute to our future development. Participants will gain relevant work experience that aligns with their skill sets and identified talents.

Duties & Responsibilities

Developmental outcomes and deliverables for the respective programme will include, but not be limited to the below:

Actuarial Analysis and Quantification

• Gain an understanding of the RAF business and its operating environment.
• Acquire a comprehensive understanding of the actuarial basis of income valuations such as mortality, interest, contingencies, earnings progression, and taxation.
• Gain knowledge on how to use Loss of Earnings and Loss of Support Models.
• Learn how to report on results per the guidelines set out by professional bodies such as Actuarial Society of South Africa (ASSA)/ Institute and Faculty of Actuaries (IFoA)
• Conduct research on Loss of Income methodologies.
• Understand how to interpret, scrutinize, and critique professional reports from various experts and sources.
• Learn stakeholder and client management processes, including day-to-day interaction with various RAF business units.
• Acquire knowledge on the procedures employed in determining fair, reasonable, and equitable compensation for victims of road accidents.
• Develop skills for claims risk management and risk mitigation.
• Be able to execute ad hoc actuarial work as and when required.
• Conduct actuarial investigations both independently and with a team.
• Improve professional communication skills with frequent presentation of data findings in an easy-to-read and easily understood format.
• Gain a strong technical background on valuations, working on various applications including MS Excel, MS Access, MS Word, System Applications and Products Business Intelligence (SAP BI) and System Applications and Products Three tier (SAP(R)).

Role and Duties

• Complete all actuarial modules of the development programme within the specified time frame.
• Adhere to organizational policies, standards, and procedures.
• Capture and report information as required.
• Report and communicate ideas and recommendations effectively.
• Foster effective team relationships and provide support to colleagues as needed.
• Build and maintain partnerships and relationships with stakeholders within the business and communities.
• Engage with relevant stakeholders to gain the necessary business acumen and community involvement.

Qualification & Other Requirements

• A certified copy of your Grade 12 or NQF Level 4 Certificate.
• A certified copy of your Bachelor’s Degree in Actuarial Science/Mathematics or a related qualification or Academic Transcript.
• A certified copy of your ID.
• Your CV and motivational letter.

How to Apply

Click here to apply online for Road Acident Fund (RAF): Actuarial Internships 2023

Closing Date: Friday 17th of March 2023