Risk Analyst - Financial Lines

Placements24; Willows (CA); Hybrid; USD 25,000 - 47,000; Full time

Benefits offered by this job

Medical aid

Provident fund

Professional development

Job summary

Placements24 in Welkom seeks a Risk Analyst to join the insurance risk team and help assess financial lines risks, develop models, and provide insights to underwriters and portfolio managers in a hybrid work setting.

The role emphasizes quantitative skills, data-driven decision making, and clear communication. Collaboration with actuarial, claims, and compliance teams is essential to strengthen portfolio management and risk mitigation.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Mathematics.
• At least 3 years in risk analysis in insurance/financial services.
• Strong knowledge of financial lines products and their risks.
• Proficiency in R, Python, SAS for data modeling and risk assessment.
• Excellent analytical and communication skills.

Responsibilities

• Analyze and evaluate financial and operational risks associated with underwriting financial lines policies.
• Develop, implement, and maintain risk assessment models and methodologies.
• Monitor and report on key risk indicators (KRIs) and emerging risks.
• Provide quantitative analysis and insights to underwriters, portfolio managers, and senior management.
• Assist in the development and implementation of risk mitigation strategies.
• Conduct peer reviews of risk assessments and models.
• Stay informed about industry best practices, regulatory changes, and market trends in financial lines insurance.
• Collaborate with other departments, including actuarial, claims, and compliance, on risk-related matters.
• Prepare clear and concise risk reports for internal stakeholders.

Skills

Quantitative analysis

Data modeling

Statistical analysis

Risk reporting

Communication

Education

Bachelor's degree in Finance/Economics/Statistics/Mathematics

Tools

R

Python

SAS

Job description

About the Role

Our client, a distinguished insurance underwriter, is seeking a diligent and analytical Risk Analyst to join their established team in Welkom . This role is integral to assessing and quantifying risks associated with financial lines insurance products, including Professional Indemnity, Directors & Officers, and Cyber Liability. You will be responsible for analyzing risk data, developing risk models, and providing insights to support underwriting decisions and portfolio management. The ideal candidate will possess strong quantitative skills, a deep understanding of financial markets and risk management principles, and the ability to translate complex data into actionable recommendations. This position offers a challenging yet rewarding opportunity to contribute to the strategic direction of the business in the Free State region.

Key Responsibilities

• Analyze and evaluate financial and operational risks associated with underwriting financial lines policies.
• Develop, implement, and maintain risk assessment models and methodologies.
• Monitor and report on key risk indicators (KRIs) and emerging risks.
• Provide quantitative analysis and insights to underwriters, portfolio managers, and senior management.
• Assist in the development and implementation of risk mitigation strategies.
• Conduct peer reviews of risk assessments and models.
• Stay informed about industry best practices, regulatory changes, and market trends in financial lines insurance.
• Collaborate with other departments, including actuarial, claims, and compliance, on risk-related matters.
• Prepare clear and concise risk reports for internal stakeholders.

Requirements

• A Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• A minimum of 3 years of experience in risk analysis, preferably within the insurance or financial services industry.
• Strong understanding of financial lines insurance products and their associated risks.
• Proficiency in statistical analysis, data modeling, and risk management software (e.g., R, Python, SAS).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Familiarity with relevant regulatory frameworks is a plus.
• Ability to work effectively both independently and collaboratively in a hybrid work environment in Welkom .

Benefits

Our client offers a competitive salary and benefits package, including medical aid and a provident fund. Opportunities for professional development and continued education are strongly encouraged. A stimulating and intellectually challenging work environment is provided. Employees benefit from a collaborative team culture and exposure to senior leadership. This hybrid role allows for a balance between in-office collaboration in Welkom and remote flexibility, supporting work-life integration. The Free State location offers a unique regional experience.