Risk Analyst - Insurance

Placements24; Gqeberha; On-site; ZAR 720,000 - 960,000; Full time

Benefits offered by this job

Health insurance

Retirement plan

Professional development

Bonus potential

Job summary

Placements24 is seeking a highly analytical Risk Analyst for their Port Elizabeth team. The role focuses on identifying and monitoring market, credit, operational, and compliance risks within the insurance sector, building models and running scenario analyses to protect financial stability.

The ideal candidate has a quantitative background with experience in Excel, SQL, R, and Python, plus familiarity with COSO and Solvency II.

Qualifications

• Bachelor's degree in a quantitative field as listed.
• At least 4 years of risk analysis experience, preferably in insurance.
• Strong quantitative and analytical capabilities with data-analysis tools.
• Familiarity with COSO, Solvency II and regulatory requirements.
• Excellent report writing and presentation skills.
• Ability to work independently and in a team.

Responsibilities

• Identify, assess, and quantify risks across business units and product lines.
• Develop and maintain risk models using statistical techniques and data analysis.
• Conduct scenario analysis and stress testing to gauge impact on financials.
• Monitor KRIs and prepare risk reports for senior management and regulators.
• Collaborate with departments to implement risk mitigation and governance.
• Stay updated on emerging risks and industry best practices.

Skills

Quantitative skills

Analytical skills

Data analysis tools

Education

Bachelor's degree in Finance/Economics/Mathematics/Statistics

Tools

Excel

SQL

R

Python

Job description

About the Role

Our client is seeking a highly analytical and proactive Risk Analyst to join their dedicated team in Port Elizabeth. This role is critical in identifying, assessing, and monitoring the various risks faced by the company, including market risk, credit risk, operational risk, and compliance risk within the insurance sector. You will be responsible for developing risk models, conducting scenario analyses, and recommending strategies to mitigate potential threats and ensure the financial stability of the organization. The ideal candidate possesses a strong quantitative background and a keen understanding of the insurance industry's risk landscape in the Eastern Cape.

Key Responsibilities

• Identify, assess, and quantify key risks across different business units and product lines.
• Develop and maintain risk models, using statistical techniques and data analysis to forecast potential risk exposures.
• Conduct scenario analysis and stress testing to evaluate the impact of adverse events on the company's financial performance.
• Monitor key risk indicators (KRIs) and prepare regular risk reports for senior management and regulatory bodies.
• Collaborate with various departments to implement risk mitigation strategies and ensure compliance with risk management policies.
• Stay abreast of emerging risks, regulatory changes, and industry best practices in risk management.

Requirements

• Bachelor's degree in Finance, Economics, Mathematics, Statistics, or a related quantitative field.
• Minimum of 4 years of experience in risk analysis, preferably within the insurance industry.
• Strong quantitative and analytical skills, with proficiency in data analysis tools (e.g., Excel, SQL, R, Python).
• Familiarity with risk management frameworks (e.g., COSO, Solvency II) and regulatory requirements.
• Excellent report writing and presentation skills.
• Ability to work independently and as part of a team in a dynamic environment.

Benefits

• Competitive annual salary and performance-based bonus structure.
• Comprehensive health insurance and retirement savings plan.
• Opportunities for professional development, certifications, and further education.
• A challenging and rewarding role within a growing insurance company in Port Elizabeth.
• Positive work culture that encourages analytical thinking and strategic contribution.