Insurance Risk Manager

Placements24; Paarl; On-site; ZAR 900,000 - 1,500,000; Full time

Benefits offered by this job

Performance-related bonus

Medical aid

Retirement fund

Professional development opportunities

Job summary

Placements24 is seeking an Insurance Risk Manager in Paarl, Western Cape to identify, assess, monitor and mitigate market, credit, operational and insurance-specific risks.

You will develop and maintain an enterprise-wide ERM framework, perform risk assessments and stress tests, oversee mitigation plans, and ensure regulatory compliance.

The role offers a competitive salary, medical aid, retirement benefits, and strong opportunities for professional development and certifications.

Qualifications

• A relevant tertiary qualification in Finance, Risk Management, Economics, or related field.
• Master's degree or professional certification (PRM/FRM/CFA) advantageous.

Responsibilities

• Develop, implement, and maintain an enterprise-wide ERM framework.
• Identify and assess key risks across all units/functions.
• Design and conduct risk assessments, including scenario analysis and stress testing.
• Develop and monitor risk mitigation strategies and action plans.
• Ensure regulatory compliance and industry best practices for risk management.
• Prepare regular risk reports for senior management and the Board of Directors.
• Foster a strong risk-aware culture across the organization.
• Collaborate with internal audit, compliance and other departments for integrated oversight.
• Monitor KRIs and advise on breaches of risk appetite.
• Contribute to business strategy with risk insights.

Skills

Analytical, quantitative skills

Risk management software

Regulatory knowledge

Communication & interpersonal skills

Education

Tertiary qualification in Finance/Risk Management/Economics

Master's degree or professional certification (PRM/FRM/CFA)

Tools

Risk management tools

Job description

About the Role

Our client, a dynamic and growing insurer, is seeking a proactive and experienced Insurance Risk Manager to join their team in Paarl, Western Cape . This key role is responsible for identifying, assessing, monitoring, and mitigating the various risks faced by the organization, including market, credit, operational, and insurance-specific risks. The Risk Manager will play a crucial role in developing and implementing robust risk management frameworks and policies, ensuring the company operates within its risk appetite and maintains financial resilience. This is an excellent opportunity for a seasoned risk professional to make a significant impact within a reputable financial institution. You will be at the forefront of safeguarding the company's assets and reputation.

Key Responsibilities

• Develop, implement, and maintain a comprehensive enterprise-wide risk management (ERM) framework.
• Identify and assess key risks across all business units and functions.
• Design and conduct risk assessments, including scenario analysis and stress testing.
• Develop and monitor risk mitigation strategies and action plans.
• Ensure compliance with relevant regulatory requirements and industry best practices for risk management.
• Prepare regular risk reports for senior management and the Board of Directors.
• Foster a strong risk-aware culture throughout the organization.
• Collaborate with internal audit, compliance, and other departments to ensure integrated risk oversight.
• Monitor key risk indicators (KRIs) and advise on potential breaches of risk appetite.
• Contribute to business strategy development by providing risk insights and perspectives.

Requirements

• A relevant tertiary qualification in Finance, Risk Management, Economics, or a related discipline; a Master's degree or professional certification (e.g., PRM, FRM, CFA) is advantageous.
• A minimum of 5-7 years of experience in risk management, preferably within the insurance or financial services sector.
• Strong understanding of insurance operations, products, and the associated risk landscape.
• Proven experience in developing and implementing ERM frameworks and risk assessment methodologies.
• Excellent analytical, quantitative, and problem-solving skills.
• Proficiency in risk management software and tools.
• Strong knowledge of relevant regulatory frameworks (e.g., Solvency II, local insurance regulations).
• Exceptional communication, presentation, and interpersonal skills.
• Ability to influence stakeholders at all levels of the organization.
• High level of integrity and professional ethics.

Benefits

• Our client offers a competitive salary package, commensurate with your experience and qualifications, and includes a performance-related bonus.
• Comprehensive benefits include excellent medical aid, a supportive retirement fund, and opportunities for ongoing professional development and certifications.
• This role provides a fantastic platform for career advancement within a growing insurance company.
• The work environment in the beautiful Paarl valley is conducive to focus and collaboration, offering a balance between professional challenge and quality of life.
• Join a company that prioritizes sound risk management and employee growth.