Introduction from Standard Bank
Tasks in this program
Intro & ScenarioMeet your team members and learn about your project goals.
Your role
- You are working as an actuarial analyst at Standard Bank.
- The day-to-day responsibilities of this role include:
- Analysing and interpreting data to assess the appropriateness of various actuarial assumptions, including lapse assumptions.
- Collaborating with cross-functional teams to gather and synthesise experience data, enabling data-driven insights that shape the formulation and refinement of key actuarial assumptions.
- Conducting experience analysis, identifying trends and patterns, and translating findings into actionable recommendations for assumption adjustments, ensuring alignment with business objectives and risk-management strategies.
- Playing a pivotal role in presentations to senior stakeholders, effectively communicating the rationale behind assumption changes and their potential impacts, and providing the necessary context to drive informed decision-making within the Risk Products team.
- Your team has been assigned to a new project aimed at refining Standard Bank’s current lapse assumption by carrying out actual vs. expected analysis. By completing these tasks, you will contribute to enhancing Standard Bank’s understanding of lapse assumptions and improving the accuracy of financial projections.
Your goal
- Assist the Risk Products team at Standard Bank in conducting a thorough lapse experience analysis.
- Recommend a suitable new lapse assumption to senior stakeholders and assess the impact it will have on the overall result.
Reviews
Over 2505 Star Reviews
"This was a very useful insight into the work done at standard bank as well as helping to understand the day to day role of an actuary which helped to understand if this is a career I would enjoy."-- Student from City, University of London
"Before I had doubts about how I would actually apply my knowledge in a workspace but participating in Standard Bank's virtual job experience has helped orient me."-- Student from University of the Free State
"The templates and additional resources where very useful to me, since I am still in the early stages of study."-- Student from University of the Free State
"this program is a lot much helpful in learning that what does and how does an actuarial work and what are his roles of responsiblity"-- Student from University of Delhi
"It was highly insightful - I learned and was guided through the various aspects of an actuarial analyst's work. The practical aspect (i.e. dealing with Excel workbooks, learning specific formulae) was also engaging."-- Student from Imperial College
Actuarial
