Insurance Risk Analyst

Placements24; Durban; On-site; ZAR 480,000 - 600,000; Full time

Job summary

Placements24 in Durban is seeking an Insurance Risk Analyst to join our established team. You will identify, assess, and mitigate risks, developing strategies to safeguard financial stability and operations within a collaborative KwaZulu-Natal environment.

You will conduct risk assessments across units, monitor KRIs, investigate claims, and report findings to senior management, with strong Excel/SQL data skills and a degree in finance, economics, statistics, or related fields.

Qualifications

• Bachelor’s degree in finance, economics, statistics or related field.
• Proven experience in risk analysis or management, preferably in insurance.
• Strong analytical skills to interpret complex data.
• Proficiency in data analysis tools and software (Excel, SQL).

Responsibilities

• Conduct comprehensive risk assessments across business units.
• Develop and implement risk management strategies and procedures.
• Monitor KRIs and report to senior management.
• Investigate claims and incidents to identify root causes.
• Liaise with departments to ensure risk controls.
• Stay updated on emerging risks and best practices.

Skills

Quantitative & qualitative analysis

Data interpretation

Communication skills

Education

Bachelor's degree in Finance, Economics, Statistics, or a related field

Tools

Excel

SQL

Statistical packages

Job description

About the Role

Our client seeks a proactive and analytical Insurance Risk Analyst to join their established team in Durban . This role is crucial for identifying, assessing, and mitigating potential risks faced by the company. You will be responsible for developing strategies to manage these risks effectively, ensuring the financial stability and operational integrity of the organization. Working within a collaborative office environment in KwaZulu-Natal, you will play a vital part in safeguarding the company's assets and reputation through rigorous risk management practices. This is an opportunity to make a significant impact in a challenging and rewarding field.

Key Responsibilities

• Conduct comprehensive risk assessments across various business units and operations.
• Develop and implement risk management strategies, policies, and procedures.
• Monitor and analyze key risk indicators (KRIs) and report findings to senior management.
• Investigate insurance claims and operational incidents to identify root causes and prevent recurrence.
• Liaise with internal departments and external stakeholders to ensure effective risk control measures are in place.
• Stay abreast of emerging risks and industry best practices in risk management and insurance.

Requirements

• Bachelor's degree in Finance, Economics, Statistics, or a related field.
• Proven experience in risk analysis or management, preferably within the insurance industry.
• Strong quantitative and qualitative analytical skills, with the ability to interpret complex data.
• Excellent understanding of risk assessment frameworks and methodologies.Proficiency in data analysis tools and software (e.g., Excel, SQL, statistical packages).
• Effective communication and presentation skills to report findings to diverse audiences.

Benefits

• Competitive salary and potential for performance-based bonuses.
• Comprehensive medical and retirement benefits.
• Structured career development path and ongoing training opportunities.
• A stable and supportive work environment in a prime Durban location.
• Opportunities to contribute to strategic decision-making regarding risk.