Risk Analyst - Insurance

Placements24; Randburg; Hybrid; ZAR 800,000 - 1,100,000; Full time

Benefits offered by this job

Competitive salary

Bonuses

Medical aid

Retirement fund

Professional development

Job summary

Placements24 is seeking a skilled Risk Analyst to join our client’s analytical team in Randburg, Gauteng. You will identify, assess, and mitigate risks across operations, products, and financial exposures, developing risk management strategies and ensuring regulatory compliance.

The role requires strong analytical abilities, knowledge of risk principles in insurance, and excellent reporting skills, with a hybrid work model balancing in-office and remote collaboration in Randburg.

Qualifications

• Bachelor’s degree in Finance, Economics, Mathematics, Statistics, or related quantitative field.
• Solid knowledge of risk principles and methodologies.
• Experience with data analysis tools and techniques.

Responsibilities

• Identify and assess risks across market, credit, operational, underwriting, and claims areas.
• Develop and implement risk management frameworks and policies.
• Conduct quantitative and qualitative risk analyses, including scenario modeling and stress testing.
• Monitor KRIs and report risk exposure to senior management.
• Collaborate with business units to understand risk and control measures.
• Prepare risk reports and present findings to committees.

Skills

Analytical skills

Excel

SQL

Statistics

Communication skills

Problem-solving

Team collaboration

Education

Bachelor's degree

Tools

Excel

SQL

Statistical software

Job description

About the Role

Our client, a prominent insurance company, is seeking a skilled Risk Analyst to join their analytical team in Randburg, Gauteng . This critical role involves identifying, assessing, and mitigating potential risks across the organization's operations, products, and financial exposures. You will play a key part in developing risk management strategies, conducting quantitative and qualitative risk assessments, and ensuring compliance with regulatory frameworks. The ideal candidate possesses strong analytical capabilities, a thorough understanding of risk principles in the insurance context, and excellent reporting skills. This position offers a challenging yet rewarding opportunity to influence risk management practices and contribute to the company's stability and growth. We foster a culture of continuous improvement and proactive risk management.

Key Responsibilities

• Identify and assess various types of risks (e.g., market, credit, operational, underwriting, claims).
• Develop and implement robust risk management frameworks and policies.
• Conduct quantitative and qualitative risk analysis, including scenario modeling and stress testing.
• Monitor key risk indicators (KRIs) and report on the organization's risk profile.
• Collaborate with business units to understand their risk exposures and control measures.
• Develop and recommend strategies for risk mitigation and control.
• Ensure compliance with relevant industry regulations and internal risk management standards.
• Prepare risk reports and present findings to senior management and relevant committees.
• Stay informed about emerging risks and industry best practices in risk management.
• Contribute to the development of risk awareness training programs within the company.

Requirements

• A 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 or financial services industry.
• Strong understanding of risk management principles, methodologies, and frameworks.
• Proficiency in data analysis tools and techniques (e.g., Excel, SQL, statistical software).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong written and verbal communication skills, with the ability to present complex information clearly.
• Familiarity with regulatory requirements in the insurance sector is highly advantageous.
• Ability to work independently and collaboratively in a team environment.
• Detail-oriented with strong organizational skills.
• Experience with risk management software is a plus.

Benefits

Our client offers a competitive annual salary, performance-based bonuses, and a comprehensive benefits package including medical aid, retirement fund, and opportunities for professional development. This role adopts a hybrid work model, balancing remote flexibility with essential in-office collaboration in Randburg, Gauteng . Employees benefit from a supportive work environment, continuous learning opportunities, and the chance to make a significant impact on the company's risk management strategy. Join a dedicated team focused on safeguarding the organization's future.

• competitive annual salary
• performance-based bonuses
• medical aid
• retirement fund
• opportunities for professional development