Risk Analyst - Insurance

Placements24; Bloemfontein; On-site; ZAR 480,000 - 720,000; Full time

Benefits offered by this job

Competitive salary

Medical aid

Retirement fund contribution

Professional development

Job summary

Placements24 is seeking a meticulous Risk Analyst to join their insurance team in Welkom. The role emphasizes identifying, assessing, and mitigating risks across multiple lines of insurance business, with data-driven insights and close collaboration with underwriting and actuarial teams.

The ideal candidate will have a quantitative background, strong analytical skills, and the ability to translate complex data into actionable strategies while contributing to continuous improvement and

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Mathematics, or related quantitative field.
• Minimum 3 years of risk analysis experience, preferably in insurance/financial services.
• Strong proficiency in data analysis and statistical modelling tools.

Responsibilities

• Identify, assess, and quantify risks across the insurance portfolio (market, credit, operational, underwriting).
• Develop and implement risk management frameworks, policies, and procedures.
• Conduct regular risk assessments and stress testing on financial models and portfolios.
• Monitor KRIs and report risk exposures and trends to senior management.
• Collaborate with business units to ensure risk mitigation is implemented.
• Analyze insurance data to identify patterns, predict losses, and inform decisions.
• Stay updated on regulatory requirements and industry best practices.
• Prepare reports and presentations for management, regulators and stakeholders.

Job description

About the Role

Our client, a prominent player in the insurance sector, is seeking a meticulous and analytical Risk Analyst to join their established team in Welkom . This is a critical role focused on identifying, assessing, and mitigating risks across various lines of insurance business. The successful candidate will be instrumental in developing and implementing risk management strategies that protect the company's financial stability and enhance its operational efficiency. You will work closely with underwriting, claims, and actuarial departments to provide data-driven insights and recommendations. This position requires a strong quantitative background, a deep understanding of risk principles, and the ability to translate complex data into actionable strategies. Our client is committed to fostering a culture of continuous improvement and provides excellent opportunities for professional growth within a stable and reputable organization. We are looking for a dedicated professional who can contribute to safeguarding the company's interests and ensuring long-term sustainability. The role involves detailed analysis and reporting on potential threats and vulnerabilities.

Key Responsibilities

• Identify, assess, and quantify potential risks across the insurance portfolio, including market, credit, operational, and underwriting risks.
• Develop and implement robust risk management frameworks, policies, and procedures.
• Conduct regular risk assessments and stress testing on financial models and portfolios.
• Monitor key risk indicators (KRIs) and report on risk exposures and trends to senior management.
• Collaborate with business units to ensure risk mitigation strategies are effectively implemented.
• Analyze insurance data to identify patterns, predict potential losses, and inform strategic decision-making.
• Stay updated on regulatory requirements and industry best practices in risk management.
• Prepare comprehensive reports and presentations for management, regulators, and other stakeholders.

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, preferably within the insurance or financial services industry.
• Strong understanding of risk management principles, methodologies, and tools.
• Proficiency in data analysis and statistical modeling software (e.g., Excel, R, Python, SQL).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Experience with regulatory compliance and reporting is a plus.
• Ability to work collaboratively within a team environment.

Benefits

• Our client offers a competitive salary, comprehensive medical aid, and a generous retirement fund contribution.
• This role provides significant opportunities for professional development, including support for further certifications and training.
• You will work in a stable and secure environment with a company that values its employees.
• Our client fosters a collaborative work culture and offers clear career progression paths.
• Joining this team means becoming part of an organization dedicated to excellence and integrity in the insurance sector.