Insurance Risk Analyst

Placements24; Randfontein; Hybrid; ZAR 650,000 - 1,000,000; Full time

Benefits offered by this job

Medical and dental coverage

Pension fund participation

Remote work flexibility

Professional development and training

Job summary

Placements24 is seeking an Insurance Risk Analyst in Rustenburg, North West. The role focuses on identifying, quantifying, and mitigating risks across the insurance portfolio. You will build risk models, analyze data, and provide strategic insights to inform decisions.

A strong quantitative background and regulatory awareness are essential. The successful candidate will collaborate with underwriting, claims and actuarial teams, stay updated on industry practices, and contribute to risk

Qualifications

• Bachelor's degree in a quantitative field (Stats / Math / Econ / Finance / Actuarial).
• Minimum 4 years of risk analysis experience in insurance or financial services.
• Strong modeling, analytical and data interpretation skills.

Responsibilities

• Identify, assess and quantify risks within the insurance portfolio.
• Develop risk models and analytical frameworks.
• Analyze large datasets to identify trends and KRIs.
• Prepare reports and present findings to senior management.

Skills

Analytical thinking

Data interpretation

Problem solving

Communication

Education

Bachelor's degree in Statistics, Mathematics, Economics, Finance or Actuarial Science

Tools

Excel

SQL

R

Python

Job description

About the Role

Our client is seeking a highly analytical and detail-oriented Insurance Risk Analyst to join their growing team in Rustenburg, North West. This role is critical in identifying, assessing, and mitigating potential risks across the company's insurance portfolio. You will be responsible for developing risk models, analyzing data, and providing strategic insights to inform decision-making. The ideal candidate will possess a strong quantitative background, excellent problem-solving skills, and a comprehensive understanding of the insurance industry. This is an excellent opportunity to contribute to risk management strategies in a key mining and industrial hub like Rustenburg, North West. We are looking for a proactive individual who can translate complex data into actionable recommendations for risk reduction and financial stability.

Key Responsibilities

• Identify, assess, and quantify potential risks within the company's insurance operations and portfolio.
• Develop and implement sophisticated risk models and analytical frameworks.
• Analyze large datasets to identify trends, patterns, and correlations related to risk exposure.
• Prepare detailed reports and presentations on risk assessments, findings, and recommendations for senior management.
• Monitor key risk indicators (KRIs) and advise on mitigation strategies.
• Collaborate with underwriting, claims, and actuarial teams to ensure a holistic approach to risk management.
• Stay abreast of industry best practices, emerging risks, and regulatory changes in the insurance sector.
• Contribute to the development and refinement of risk management policies and procedures.
• Utilize various analytical tools and software to support risk analysis and reporting.
• Assist in the development of risk mitigation plans and business continuity strategies.

Requirements

• A Bachelor's degree in Statistics, Mathematics, Economics, Finance, Actuarial Science, or a related quantitative field.
• Minimum of 4 years of experience in risk analysis, preferably within the insurance or financial services industry.
• Strong analytical, statistical, and modeling skills.
• Proficiency in data analysis tools such as Excel, SQL, R, Python, or similar.
• Excellent understanding of insurance products, risk management principles, and relevant regulations.
• Ability to interpret complex data and communicate findings clearly and concisely.
• Strong report writing and presentation skills.
• Ability to work independently and manage multiple projects simultaneously.
• Experience with risk management frameworks (e.g., COSO, Solvency II) is a plus.
• Strong problem-solving abilities and a proactive approach to identifying potential issues.

Benefits

• Competitive salary based on qualifications and experience.
• Comprehensive medical and dental coverage.
• Pension fund participation.
• Opportunities for professional development and training, including certifications.
• A collaborative and intellectually stimulating work environment.
• Potential for advancement within the risk management function.
• Remote work flexibility, allowing for a better work-life balance.