Insurance Risk Analyst - Port Elizabeth

Placements24; Gqeberha; Hybrid; ZAR 600,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Fully remote

Professional development

Diverse risk exposure

Collaborative environment

Home office setup

Medical aid

Retirement fund

Job summary

WhatJobs Direct is seeking an Insurance Risk Analyst for a fully remote role across South Africa. You will identify, assess, and mitigate risks in insurance products and operations, and support strategies to minimize losses.

The ideal candidate will have strong quantitative skills, expertise in statistical software, and the ability to communicate complex findings clearly to stakeholders. This role offers remote flexibility and growth opportunities.

Qualifications

• Proven experience as a Risk Analyst in insurance or financial services.
• Advanced analytical and quantitative skills; proficient in statistical software.
• Excellent communication to explain complex findings to non-technical audiences.
• Experience with data analysis, modeling, and interpretation.
• Strong knowledge of insurance products, operations, and regulatory environments.

Responsibilities

• Identify and assess risks across insurance lines (market, credit, operational, underwriting).
• Develop and implement risk management frameworks and policies.
• Analyze large datasets to identify trends and risk exposures.
• Create and maintain risk models and quantitative tools.
• Collaborate with underwriting, claims, and actuarial teams to integrate risk management.

Skills

Risk analysis

Quantitative skills

Statistical modeling

Data interpretation

Communication skills

Remote work

Education

Finance/Economics/Statistics degree

Tools

R

Python

SAS

Job description

About the Role

Our client, WhatJobs Direct, is seeking a highly analytical and detail-oriented Insurance Risk Analyst to join their dynamic team. This is a fully remote position, offering the convenience and flexibility to work from anywhere in South Africa. You will play a crucial role in identifying, assessing, and mitigating various risks associated with the company's insurance products and operations. Your responsibilities will include analyzing data, developing risk models, and recommending strategies to minimize financial losses and ensure regulatory compliance. The ideal candidate will possess strong quantitative skills, a deep understanding of insurance principles, and the ability to communicate complex findings clearly. You will be integral in safeguarding the financial stability and strategic growth of our client's insurance business.

Key Responsibilities

• Identify and assess potential risks across different insurance lines (e.g., market, credit, operational, underwriting).


• Develop and implement risk management frameworks and policies.


• Analyze large datasets to identify trends, patterns, and potential risk exposures.


• Create and maintain risk models and quantitative tools to measure and monitor risk.


• Collaborate with underwriting, claims, and actuarial departments to integrate risk management principles.


• Monitor key risk indicators (KRIs) and report on risk exposures to senior management.


• Develop strategies and recommendations for mitigating identified risks.


• Ensure compliance with relevant insurance regulations and reporting requirements.


• Conduct scenario analysis and stress testing to evaluate the company's resilience.


• Stay updated on emerging risks and best practices in risk management within the insurance industry.

Requirements

• Proven experience as a Risk Analyst, preferably within the insurance or financial services sector.


• Strong understanding of risk management principles, methodologies, and tools.


• Advanced analytical and quantitative skills, with proficiency in statistical software (e.g., R, Python, SAS).


• Experience with data analysis, modeling, and interpretation.


• Excellent understanding of insurance products, operations, and regulatory environments.


• Strong communication and presentation skills, with the ability to explain complex concepts to diverse audiences.


• Ability to work independently and manage multiple projects in a remote setting.


• A relevant degree in Finance, Economics, Statistics, Actuarial Science, or a related quantitative field.


• Professional certifications such as PRM or FRM are a plus.


• High attention to detail and commitment to accuracy.

Benefits

• Competitive salary package reflective of expertise.


• Fully remote work flexibility.


• Opportunities for professional development and certifications.


• Exposure to diverse risk challenges within the insurance sector.


• A collaborative and intellectually stimulating work environment.


• Allowance for home office setup.


• Contribution to medical aid and retirement fund.