Insurance Risk Analyst

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

Benefits offered by this job

Professional development

Medical aid

Retirement fund

Annual performance bonus

Relocation support

Job summary

Placements24 in Paarl, Western Cape, is seeking an Insurance Risk Analyst to identify, assess, and mitigate risks across the company’s insurance operations. The role focuses on developing risk frameworks, analyzing loss data, and informing senior management decisions.

candidates should have 4+ years in risk/financial analysis, strong Excel/SQL and Python/R skills, and a Finance/Economics/Math degree. FRM/PRM is a plus, with on-site work in Paarl.

Qualifications

• Minimum 4 years of experience in risk analysis, financial analysis, or related field within insurance or financial services.
• Strong understanding of risk management principles, methodologies and frameworks.
• Excellent quantitative and analytical skills with the ability to interpret complex data sets.
• Proficiency in data analysis tools such as Excel, SQL, and statistical software (R, Python).

Responsibilities

• Identify, assess, and quantify potential risks across market, credit, operational, and insurance areas.
• Develop and maintain risk models and assessment tools.
• Analyze historical data (claims, financial performance) to identify trends and emerging risks.
• Prepare regular risk reports and presentations for senior management and committees.
• Collaborate with underwriting, claims, and finance to embed risk management in daily operations.
• Support development and implementation of risk mitigation strategies and controls.

Skills

Analytical thinking

Quantitative analysis

Communication skills

Independent working

Team collaboration

Education

Finance / Economics / Mathematics / Statistics degree

FRM/PRM certification (advantage)

Tools

Excel

SQL

Python

R

Job description

About the Role

Our client, a leading insurance provider, is seeking a detail-oriented and analytical Insurance Risk Analyst to join their dedicated team in Paarl, Western Cape. This role is critical in identifying, assessing, and mitigating various risks across the organization's insurance operations. You will be responsible for developing and implementing risk management frameworks, analyzing loss data, and providing insights to support strategic decision-making. The successful candidate will play a key part in ensuring the financial stability and operational integrity of the company. This position requires on-site presence to facilitate close collaboration with key departments and ensure effective risk management oversight within the Paarl, Western Cape office.

Key Responsibilities

• Identify, assess, and quantify potential risks faced by the company, including market, credit, operational, and insurance-specific risks.
• Develop and maintain risk models and assessment tools to monitor risk exposures effectively.
• Analyze historical data (e.g., claims data, financial performance) to identify trends, patterns, and emerging risks.
• Prepare regular risk reports and presentations for senior management and relevant committees.
• Collaborate with underwriting, claims, and finance departments to embed risk management principles into daily operations.
• Assist in the development and implementation of risk mitigation strategies and internal controls.
• Stay informed about industry best practices, regulatory changes, and emerging risk management techniques.
• Contribute to the development and execution of the company's overall risk management framework.
• Monitor and test the effectiveness of risk controls and recommend improvements.
• Support internal and external audits related to risk management and compliance.

Requirements

• A minimum of 4 years of experience in risk analysis, financial analysis, or a related field within the insurance or financial services industry.
• Strong understanding of risk management principles, methodologies, and frameworks.
• Excellent quantitative and analytical skills, with the ability to interpret complex data sets.
• Proficiency in data analysis tools such as Excel, SQL, and statistical software (e.g., R, Python) is highly desirable.
• A relevant tertiary qualification in Finance, Economics, Mathematics, Statistics, or a related field.
• Professional certifications in risk management (e.g., FRM, PRM) are a significant advantage.
• Strong communication and reporting skills, with the ability to convey complex information clearly to diverse audiences.
• Meticulous attention to detail and a proactive approach to problem-solving.
• Ability to work independently and collaboratively within a team environment.
• Must be based in or willing to relocate to the Paarl, Western Cape area.

Benefits

• A competitive annual salary of up to ZAR, commensurate with experience.
• Annual performance bonus.
• Comprehensive medical aid and retirement fund benefits.
• Opportunities for professional development and advanced training in risk management.
• A stable and secure working environment within a reputable organization.
• Located in picturesque Paarl, Western Cape .
• Support for relevant professional certifications.