Risk Analyst - Insurance

Placements24; Houston (TX); Hybrid; USD 42,000 - 60,000; Full time

Benefits offered by this job

Hybrid work model

Bonuses

Medical aid

Retirement fund

Professional development

Job summary

Placements24 is seeking a skilled Risk Analyst to join its analytical team in Randburg, Gauteng. The role focuses on identifying, assessing and mitigating risks across operations, products and financial exposures, with emphasis on regulatory compliance and risk reporting.

The ideal candidate has 4+ years’ risk analysis experience in insurance/financial services, strong analytical abilities, and proficiency in Excel, SQL and statistical software. A hybrid work model is offered.

Qualifications

• Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field.
• Minimum of 4 years of experience in risk analysis, preferably within the insurance or financial services industry.
• Strong understanding of risk management principles, methodologies, and frameworks.
• Proficiency in data analysis tools and techniques (e.g., Excel, SQL, statistical software).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Familiarity with regulatory requirements in the insurance sector is highly advantageous.
• Ability to work independently and collaboratively in a team environment.
• Detail-oriented with strong organizational skills.
• Experience with risk management software is a plus.

Responsibilities

• Identify and assess various types of risks (e.g., market, credit, operational, underwriting, claims).
• Develop and implement robust risk management frameworks and policies.
• Conduct quantitative and qualitative risk analysis, including scenario modeling and stress testing.
• Monitor key risk indicators (KRIs) and report on the organization’s risk profile.
• Collaborate with business units to understand their risk exposures and control measures.
• Develop and recommend strategies for risk mitigation and control.
• Ensure compliance with relevant industry regulations and internal risk management standards.
• Prepare risk reports and present findings to senior management and relevant committees.
• Stay informed about emerging risks and industry best practices in risk management.
• Contribute to the development of risk awareness training programs within the company.

Skills

Analytical skills

Excel

SQL

Statistical software

Communication skills

Problem-solving

Attention to detail

Team collaboration

Education

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

Tools

Risk management software

Data analysis tools

Job description

About the Role

Our client, a prominent insurance company, is seeking a skilled Risk Analyst to join their analytical team in Randburg, Gauteng. This critical role involves identifying, assessing, and mitigating potential risks across the organization’s operations, products, and financial exposures. You will play a key part in developing risk management strategies, conducting quantitative and qualitative risk assessments, and ensuring compliance with regulatory frameworks. The ideal candidate possesses strong analytical capabilities, a thorough understanding of risk principles in the insurance context, and excellent reporting skills. This position offers a challenging yet rewarding opportunity to influence risk management practices and contribute to the company’s stability and growth. We foster a culture of continuous improvement and proactive risk management.

Key Responsibilities

• Identify and assess various types of risks (e.g., market, credit, operational, underwriting, claims).
• Develop and implement robust risk management frameworks and policies.
• Conduct quantitative and qualitative risk analysis, including scenario modeling and stress testing.
• Monitor key risk indicators (KRIs) and report on the organization’s risk profile.
• Collaborate with business units to understand their risk exposures and control measures.
• Develop and recommend strategies for risk mitigation and control.
• Ensure compliance with relevant industry regulations and internal risk management standards.
• Prepare risk reports and present findings to senior management and relevant committees.
• Stay informed about emerging risks and industry best practices in risk management.
• Contribute to the development of risk awareness training programs within the company.

Requirements

• A Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field.
• Minimum of 4 years of experience in risk analysis, preferably within the insurance or financial services industry.
• Strong understanding of risk management principles, methodologies, and frameworks.
• Proficiency in data analysis tools and techniques (e.g., Excel, SQL, statistical software).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Familiarity with regulatory requirements in the insurance sector is highly advantageous.
• Ability to work independently and collaboratively in a team environment.
• Detail-oriented with strong organizational skills.
• Experience with risk management software is a plus.

Benefits

Our client offers a competitive annual salary, performance-based bonuses, and a comprehensive benefits package including medical aid, retirement fund, and opportunities for professional development. This role adopts a hybrid work model, balancing remote flexibility with essential in-office collaboration in Randburg, Gauteng. Employees benefit from a supportive work environment, continuous learning opportunities, and the chance to make a significant impact on the company’s risk management strategy. Join a dedicated team focused on safeguarding the organization’s future.