Insurance Risk Analyst

Placements24; Willows (CA); On-site; USD 36,000 - 55,000; Full time

Benefits offered by this job

Performance bonus

Medical aid & retirement fund

Annual leave

Job summary

Placements24 is seeking an Insurance Risk Analyst to join our client’s team in Welkom. The role focuses on identifying, assessing, and mitigating risks across the insurance portfolio, with data-driven strategies and proactive risk management.

You will develop risk frameworks, analyze data to predict potential losses, and advise senior management on exposure. Strong communication and collaboration with underwriting and actuarial teams are essential.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Actuarial Science, or a related quantitative field.
• 4+ years of risk analysis experience in insurance preferred.
• Strong analytical and quantitative skills with proficiency in statistical modeling and data analysis software.

Responsibilities

• Analyze insurance data to identify emerging risks and exposures.
• Develop and implement risk management frameworks to minimize losses.
• Conduct risk assessments and audits of insurance products and processes.
• Prepare risk reports and present findings to senior management and committees.
• Collaborate with underwriting, claims, and actuarial teams to align risk practices.
• Monitor regulatory changes and industry best practices to ensure compliance.

Skills

Risk analysis

Statistical modeling

Data analysis

R

Python

SAS

Report writing

Education

Bachelor's degree in Finance, Economics, Statistics, Actuarial Science, or related quantitative field

Job description

About the Role

Our client is seeking a sharp and analytical Insurance Risk Analyst to join their dynamic team in Welkom. This role is critical in identifying, assessing, and mitigating potential risks across the company's insurance portfolio. You will be responsible for developing and implementing risk management strategies, analyzing data to predict potential losses, and advising senior management on risk exposure. This position offers a unique opportunity to influence strategic decision-making within the Free State region's insurance sector, working in an environment that values data-driven insights, proactive risk management, and continuous improvement in financial stability.

Key Responsibilities

• Analyze insurance data to identify emerging trends, potential financial risks, and areas of exposure.
• Develop and implement comprehensive risk management frameworks and strategies to minimize financial losses.
• Conduct regular risk assessments and audits of various insurance products and operational processes.
• Prepare detailed risk reports and present findings and recommendations to senior management and relevant committees.
• Collaborate with underwriting, claims, and actuarial departments to ensure cohesive risk management practices.
• Monitor regulatory changes and industry best practices, ensuring the company remains compliant and competitive.

Requirements

• Bachelor's degree in Finance, Economics, Statistics, Actuarial Science, or a related quantitative field.
• Minimum of 4 years of experience in risk analysis, preferably within the insurance industry.
• Strong analytical and quantitative skills, with proficiency in statistical modeling and data analysis software (e.g., R, Python, SAS).
• Excellent understanding of insurance principles, financial markets, and risk management methodologies.
• Ability to translate complex data into clear, actionable insights for non-technical audiences.
• Strong written and verbal communication skills for report writing and presentations.

Benefits

• Competitive salary with performance-based bonuses.
• Comprehensive medical aid and retirement fund benefits.
• Opportunities for professional development, including actuarial exam support.
• A stable and professional working environment in Welkom.
• Annual leave and other employee wellness programs.