Junior Risk Analyst - Insurance

Placements24; Willows (CA); Hybrid; USD 14,000 - 22,000; Full time

Benefits offered by this job

Competitive starting salary

Medical aid

Retirement fund

Extensive training programs

Mentorship

Hybrid work model

Job summary

Placements24 is seeking a Junior Risk Analyst to join a forward-thinking insurance team in Welkom, Free State. This entry-level role emphasizes quantitative skills, risk assessment, and collaboration within a hybrid work model.

You will collect and analyze data, support risk frameworks, and prepare management-ready reports while building expertise across operational, financial, and strategic risks.

Qualifications

• Degree in Finance, Economics, Statistics, Mathematics or related quantitative field.
• Strong analytical and problem-solving abilities with attention to detail.
• Proficient in Microsoft Excel for data analysis and modeling.
• Basic understanding of risk management principles and concepts.
• Excellent written and verbal communication skills.
• Ability to work independently and as part of a team.
• Familiarity with data visualization tools is a plus.
• Proactive in identifying and addressing issues.
• Prior internship or work experience in financial services is advantageous.

Responsibilities

• Assist in collection and analysis of data to identify risks and trends.
• Support development and implementation of risk management frameworks and policies.
• Prepare reports and presentations on risk assessments and mitigation strategies for management.
• Monitor key risk indicators (KRIs) and report on deviations.
• Research industry best practices and regulatory changes related to risk management.
• Participate in risk control self-assessments and internal audits.
• Maintain the company's risk register and ensure accuracy.
• Collaborate with departments to understand risk exposures and controls.
• Assist in developing business continuity and disaster recovery plans.
• Contribute to fostering a risk-aware culture throughout the organization.

Skills

Analytical skills

Excel proficiency

Risk principles

Communication skills

Teamwork

Data visualization familiarity

Proactive approach

Financial services internship

Education

Finance/Economics/Statistics/Mathematics degree

Tools

Power BI

Tableau

Job description

About the Role

Our client, a forward-thinking insurance company, is looking for an enthusiastic and detail-oriented Junior Risk Analyst to join their risk management team in Welkom, Free State . This entry-level position is designed for individuals with a strong aptitude for quantitative analysis and a keen interest in the insurance industry. You will be involved in supporting the identification, assessment, and mitigation of various risks across the organization, including operational, financial, and strategic risks. This is an excellent stepping stone for a career in risk management within the insurance sector, providing hands-on experience and mentorship from senior professionals. The hybrid model allows for a blend of focused individual work and collaborative team engagement.

Key Responsibilities

• Assist in the collection and analysis of data to identify potential risks and trends.
• Support the development and implementation of risk management frameworks and policies.
• Prepare reports and presentations on risk assessments and mitigation strategies for management.
• Monitor key risk indicators (KRIs) and report on deviations.
• Conduct research on industry best practices and regulatory changes related to risk management.
• Participate in risk control self-assessments and internal audits.
• Help to maintain the company's risk register and ensure its accuracy.
• Collaborate with various departments to understand their risk exposures and control measures.
• Assist in the development of business continuity and disaster recovery plans.
• Contribute to fostering a strong risk-aware culture throughout the organization.

Requirements

• A relevant degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• Strong analytical and problem-solving skills with excellent attention to detail.
• Proficiency in Microsoft Excel for data analysis and modeling.
• Basic understanding of risk management principles and concepts.
• Excellent written and verbal communication skills.
• Ability to work independently and as part of a team.
• Enthusiasm for learning and developing expertise in risk analysis within the insurance sector.
• Familiarity with data visualization tools is a plus.
• A proactive approach to identifying and addressing potential issues.
• Prior internship or work experience in a financial services environment is advantageous.

Benefits

• Our client offers a competitive starting salary for this junior role, along with opportunities for performance-based increases.
• Comprehensive benefits include medical aid and participation in a retirement fund.
• The company is dedicated to employee development, offering extensive training programs, mentorship, and support for further professional qualifications.
• This role is based in Welkom, Free State , and operates on a hybrid model, providing flexibility.
• You will gain invaluable experience in a supportive team environment, laying a strong foundation for a successful career in insurance risk management.