Risk Analyst - Financial Lines Insurance

Placements24; Pretoria; Hybrid; ZAR 700,000 - 950,000; Full time

Benefits offered by this job

Competitive salary

Healthcare benefits

Retirement plan

Annual leave

Professional development

Flexible working

Job summary

Placements24 is recruiting a Risk Analyst in Pretoria to support the financial lines division. The role focuses on identifying, assessing, and mitigating risks across PI, D&O, and Cyber Liability products using quantitative and qualitative methods.

You will work with underwriters and senior management to inform risk-aware underwriting decisions and develop risk management strategies in a dynamic insurance environment.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, or Mathematics.
• At least 3 years of risk analysis, actuarial, or underwriting experience.
• Strong knowledge of financial lines products (PI, D&O, Cyber).
• Proficiency with Excel, SQL, R, and Python.

Responsibilities

• Conduct comprehensive risk assessments for new and existing financial lines insurance business.
• Develop and maintain risk models to quantify potential losses and assess capital requirements.
• Analyze underwriting data to identify emerging trends and potential risk concentrations.
• Collaborate closely with underwriters to provide insights and recommendations for risk mitigation strategies.
• Monitor the performance of the financial lines portfolio and report on KRIs to senior management.
• Assist in developing and implementing risk management policies and procedures.
• Stay informed about regulatory developments affecting financial lines.
• Contribute to risk appetite statements and tolerance levels.
• Prepare clear risk reports for internal stakeholders and regulatory bodies.

Skills

Analytical thinking

Communication skills

Problem solving

Independent worker

Education

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

Tools

Excel

SQL

R

Python

Job description

About the Role

Our client, a dynamic and forward-thinking insurance company operating from Pretoria , seeks a highly analytical Risk Analyst to join their expanding financial lines division. This role is crucial in identifying, assessing, and mitigating risks associated with our client's portfolio of professional indemnity, directors and officers (D&O), and cyber liability insurance products. The successful candidate will leverage quantitative and qualitative methods to develop risk management strategies and contribute to underwriting decisions. This position offers a unique opportunity to work with cutting-edge risk assessment tools and contribute to strategic business decisions within the vibrant capital city of Pretoria, Gauteng .

Key Responsibilities

• Conduct comprehensive risk assessments for new and existing financial lines insurance business.
• Develop and maintain risk models to quantify potential losses and assess capital requirements.
• Analyze underwriting data to identify emerging trends and potential risk concentrations.
• Collaborate closely with underwriters to provide insights and recommendations for risk mitigation strategies.
• Monitor the performance of the financial lines portfolio and report on key risk indicators (KRIs) to senior management.
• Assist in the development and implementation of risk management policies and procedures.
• Stay informed about relevant legal, regulatory, and market developments affecting financial lines insurance.
• Contribute to the development of risk appetite statements and tolerance levels.
• Prepare clear and concise risk reports for internal stakeholders and regulatory bodies.

Requirements

• A Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related quantitative field.
• A minimum of 3 years of experience in risk analysis, actuarial, or underwriting roles within the financial services or insurance industry.
• Strong understanding of financial lines products such as Professional Indemnity, D&O, and Cyber Liability.
• Proficiency in data analysis tools and techniques (e.g., Excel, SQL, R, Python).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Familiarity with risk management frameworks (e.g., COSO, ISO 31000).
• Ability to work independently and as part of a team in a fast-paced environment.
• Knowledge of the South African regulatory landscape for insurance is a plus.

Benefits

• Competitive salary and performance-based incentives.
• Comprehensive healthcare benefits and retirement plan.
• Generous annual leave and paid time off.
• Opportunities for professional development, certifications, and further education.
• Flexible working arrangements to support work-life balance.
• A dynamic and innovative work culture in Pretoria .
• Exposure to diverse and challenging financial risks.