Risk Analyst - Insurance - Bloemfontein

Placements24; Bloemfontein; Hybrid; ZAR 350,000 - 560,000; Full time

Benefits offered by this job

Hybrid work model

Medical aid

Pension fund

Professional development

Job summary

Placements24 is recruiting a Risk Analyst for our client, a dynamic insurance provider in Bloemfontein. The role focuses on identifying, assessing, and mitigating market, credit, operational and underwriting risks. You will develop risk models and support reporting to senior management.

The ideal candidate has a quantitative background, strong data analysis skills, and a willingness to grow in risk management within the insurance sector. Hybrid work is available and local commuting is required.

Qualifications

• Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related field.
• Proven analytical and quantitative skills with proficiency in data analysis tools (Excel, SQL).
• Knowledge of risk management frameworks and methodologies.
• Excellent written and verbal communication; detail-oriented and organized.

Responsibilities

• Assist in identifying and assessing key operational, financial and strategic risks.
• Develop and maintain risk models and tools to quantify exposures.
• Conduct regular risk assessments and audits for compliance with policies and regulations.
• Monitor KRIs and report emerging risks to management.
• Support risk management reporting for senior leadership and regulatory bodies.

Skills

Analytical thinking

Data analysis

Excel

SQL

Education

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

Tools

Excel

SQL

Job description

About the Role

Our client, a dynamic and forward-thinking insurance company, is seeking a diligent and analytical Risk Analyst to join their expanding operations in Bloemfontein, Free State . This vital role supports the identification, assessment, and mitigation of various risks faced by the organization, including market, credit, operational, and underwriting risks. The successful candidate will contribute to the development and implementation of robust risk management frameworks and strategies. This is an excellent opportunity for an individual with a strong quantitative background and an interest in the insurance industry to build a career in risk management. You will work closely with senior management and various departments to ensure that risks are understood and managed effectively, safeguarding the company's financial health and strategic objectives. Join a team that prioritizes a proactive approach to risk.

Key Responsibilities

• Assist in the identification and assessment of key risks across the business, including operational, financial, and strategic risks.
• Develop and maintain risk models and tools to quantify potential risk exposures.
• Conduct regular risk assessments and audits to ensure compliance with internal policies and external regulations.
• Monitor key risk indicators (KRIs) and report on emerging risks to management.
• Contribute to the development and implementation of risk mitigation strategies.
• Analyze incident reports and near misses to identify lessons learned and preventive measures.
• Support the preparation of risk management reports and presentations for senior leadership and regulatory bodies.
• Stay informed about industry best practices and emerging trends in risk management.
• Collaborate with other departments to embed a strong risk culture throughout the organization.
• Maintain accurate records of risk assessments, mitigation plans, and compliance activities.

Requirements

• A Bachelor's degree in Finance, Economics, Statistics, Mathematics, or a related field.
• 1-3 years of experience in risk management, data analysis, or a related field, preferably within the financial services or insurance sector.
• Strong analytical and quantitative skills with proficiency in data analysis tools (e.g., Excel, SQL).
• Familiarity with risk management frameworks and methodologies.
• Excellent written and verbal communication skills.
• Detail-oriented with strong organizational abilities.
• Ability to work independently and collaboratively within a team.
• Proactive and eager to learn and develop expertise in risk management.
• Knowledge of the insurance industry is a plus.
• Located in or able to commute to Bloemfontein , with flexibility for hybrid work.

Benefits

• Competitive annual salary ranging from to ZAR .
• Performance-based bonuses.
• Comprehensive medical aid contribution.
• Pension fund benefits.
• Opportunities for professional development and training in risk management.
• A positive and supportive work environment in Bloemfontein .
• Hybrid work model offering flexibility.